MGHYX vs. VWEHX

Last updated Jun 5, 2026

MGHYX (DWS Global High Income Fund) and VWEHX (Vanguard High-Yield Corporate Fund Investor Shares) are both High Yield Bonds funds. Over the past 10 years, MGHYX returned 4.96%/yr vs 5.13%/yr for VWEHX. A 0.72 correlation means they provide meaningful diversification when combined. MGHYX charges 0.60%/yr vs 0.23%/yr for VWEHX.

Performance

MGHYX vs. VWEHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DWS Global High Income Fund (MGHYX) and Vanguard High-Yield Corporate Fund Investor Shares (VWEHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGHYX achieves a 1.43% return, which is significantly higher than VWEHX's 0.97% return. Both investments have delivered pretty close results over the past 10 years, with MGHYX having a 4.96% annualized return and VWEHX not far ahead at 5.13%.

MGHYX

• 1D: -0.16%
• 1M: 0.47%
• YTD: 1.43%
• 6M: 2.26%
• 1Y: 7.41%
• 3Y*: 8.25%
• 5Y*: 3.54%
• 10Y*: 4.96%

VWEHX

• 1D: -0.18%
• 1M: 0.35%
• YTD: 0.97%
• 6M: 1.67%
• 1Y: 6.62%
• 3Y*: 8.10%
• 5Y*: 4.05%
• 10Y*: 5.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MGHYX vs. VWEHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGHYX DWS Global High Income Fund	1.43%	9.82%	6.99%	11.17%	-11.67%	3.22%	6.83%	16.36%	-1.85%	6.49%
VWEHX Vanguard High-Yield Corporate Fund Investor Shares	0.97%	9.38%	6.33%	11.66%	-9.04%	2.97%	5.30%	15.81%	-2.93%	7.05%

Correlation

The correlation between MGHYX and VWEHX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Mar 17, 1998	0.72

The correlation between MGHYX and VWEHX shifts across timeframes, from 0.69 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MGHYX vs. VWEHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MGHYX

MGHYX Risk / Return Rank: 72
MGHYX Sharpe Ratio Rank: 71
MGHYX Sortino Ratio Rank: 87
MGHYX Omega Ratio Rank: 84
MGHYX Calmar Ratio Rank: 56
MGHYX Martin Ratio Rank: 62

VWEHX

VWEHX Risk / Return Rank: 65
VWEHX Sharpe Ratio Rank: 51
VWEHX Sortino Ratio Rank: 74
VWEHX Omega Ratio Rank: 79
VWEHX Calmar Ratio Rank: 50
VWEHX Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MGHYX vs. VWEHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DWS Global High Income Fund (MGHYX) and Vanguard High-Yield Corporate Fund Investor Shares (VWEHX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MGHYX	VWEHX	Difference
Sharpe ratio: Return per unit of total volatility	2.45	2.11	+0.34
Sortino ratio: Return per unit of downside risk	4.23	3.64	+0.59
Omega ratio: Gain probability vs. loss probability	1.58	1.52	+0.05
Calmar ratio: Return relative to maximum drawdown	2.85	2.71	+0.13
Martin ratio: Return relative to average drawdown	12.17	13.82	-1.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGHYX vs. VWEHX - Sharpe Ratio Comparison

The current MGHYX Sharpe Ratio is 2.45, which is comparable to the VWEHX Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of MGHYX and VWEHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MGHYX	VWEHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.45	2.11	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.83	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.98	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.87	-0.84

Drawdowns

MGHYX vs. VWEHX - Drawdown Comparison

The maximum MGHYX drawdown since its inception was -53.47%, which is greater than VWEHX's maximum drawdown of -30.17%. Use the drawdown chart below to compare losses from any high point for MGHYX and VWEHX.

Drawdown Indicators

	MGHYX	VWEHX	Difference
Max Drawdown Largest peak-to-trough decline	-53.47%	-30.17%	-23.30%
Max Drawdown (1Y) Largest decline over 1 year	-2.69%	-2.52%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	-4.33%	-3.33%	-1.00%
Max Drawdown (5Y) Largest decline over 5 years	-15.93%	-13.83%	-2.10%
Max Drawdown (10Y) Largest decline over 10 years	-21.84%	-19.69%	-2.15%
Current Drawdown Current decline from peak	-0.32%	-0.18%	-0.14%
Average Drawdown Average peak-to-trough decline	-24.12%	-4.29%	-19.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	0.49%	+0.14%

Volatility

MGHYX vs. VWEHX - Volatility Comparison

The current volatility for DWS Global High Income Fund (MGHYX) is 0.90%, while Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) has a volatility of 0.98%. This indicates that MGHYX experiences smaller price fluctuations and is considered to be less risky than VWEHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGHYX	VWEHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	0.98%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	2.31%	2.55%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	3.13%	3.24%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.08%	4.90%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.89%	5.27%	+0.62%

MGHYX vs. VWEHX - Expense Ratio Comparison

MGHYX has a 0.60% expense ratio, which is higher than VWEHX's 0.23% expense ratio.

Dividends

MGHYX vs. VWEHX - Dividend Comparison

MGHYX's dividend yield for the trailing twelve months is around 5.69%, less than VWEHX's 6.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGHYX DWS Global High Income Fund	5.69%	7.17%	5.58%	4.35%	5.81%	4.20%	5.81%	5.63%	6.96%	3.76%	0.00%	0.00%
VWEHX Vanguard High-Yield Corporate Fund Investor Shares	6.27%	6.15%	6.11%	5.68%	5.11%	3.43%	4.62%	5.24%	5.94%	5.29%	5.41%	6.42%

Frequently Asked Questions

Can I hold both MGHYX and VWEHX in my portfolio?

MGHYX and VWEHX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGHYX or VWEHX?

VWEHX has higher volatility (0.98%) compared to MGHYX (0.90%). In terms of maximum drawdown, MGHYX dropped -53.47% vs VWEHX's -30.17%.

Which has better risk-adjusted returns?

MGHYX currently has the higher Sharpe Ratio (2.45 vs 2.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.