MWHYX vs. MWESX

Last updated Jun 23, 2026

MWHYX (Metropolitan West High Yield Bond Fund) and MWESX (MetWest ESG Securitized Fund) are both mutual funds - MWHYX is a High Yield Bonds fund managed by Metropolitan West Funds, while MWESX is a Intermediate Core-Plus Bond fund managed by Metropolitan West Funds. Over the past 3 years, MWHYX returned 6.86%/yr vs 7.41%/yr for MWESX. A 0.55 correlation means they provide meaningful diversification when combined. MWHYX charges 0.85%/yr vs 0.49%/yr for MWESX.

Performance

MWHYX vs. MWESX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Metropolitan West High Yield Bond Fund (MWHYX) and MetWest ESG Securitized Fund (MWESX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MWHYX achieves a 1.57% return, which is significantly higher than MWESX's 0.82% return.

MWHYX

• 1D: 0.00%
• 1M: 0.59%
• YTD: 1.57%
• 6M: 2.29%
• 1Y: 5.09%
• 3Y*: 6.86%
• 5Y*: 2.44%
• 10Y*: 4.61%

MWESX

• 1D: 0.11%
• 1M: 0.95%
• YTD: 0.82%
• 6M: 1.34%
• 1Y: 5.88%
• 3Y*: 7.41%
• 5Y*: —
• 10Y*: —

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

MWHYX vs. MWESX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MWHYX Metropolitan West High Yield Bond Fund	1.57%	6.09%	6.24%	10.77%	-12.58%	0.32%
MWESX MetWest ESG Securitized Fund	0.82%	8.16%	8.45%	5.41%	-14.50%	-0.35%

Correlation

The correlation between MWHYX and MWESX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.55

The correlation between MWHYX and MWESX has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.

Return for Risk

MWHYX vs. MWESX — Risk / Return Rank

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

MWHYX

MWHYX Risk / Return Rank: 58
MWHYX Sharpe Ratio Rank: 40
MWHYX Sortino Ratio Rank: 71
MWHYX Omega Ratio Rank: 63
MWHYX Calmar Ratio Rank: 51
MWHYX Martin Ratio Rank: 65

MWESX

MWESX Risk / Return Rank: 34
MWESX Sharpe Ratio Rank: 33
MWESX Sortino Ratio Rank: 37
MWESX Omega Ratio Rank: 33
MWESX Calmar Ratio Rank: 36
MWESX Martin Ratio Rank: 29

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.

MWHYX vs. MWESX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Metropolitan West High Yield Bond Fund (MWHYX) and MetWest ESG Securitized Fund (MWESX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MWHYX	MWESX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.54	+0.18
Sortino ratio: Return per unit of downside risk	3.18	2.36	+0.82
Omega ratio: Gain probability vs. loss probability	1.40	1.28	+0.12
Calmar ratio: Return relative to maximum drawdown	2.61	2.18	+0.43
Martin ratio: Return relative to average drawdown	11.97	6.29	+5.68

MWHYX vs. MWESX - Sharpe Ratio Comparison

The current MWHYX Sharpe Ratio is 1.72, which is comparable to the MWESX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of MWHYX and MWESX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MWHYX vs. MWESX - Drawdown Comparison

The maximum MWHYX drawdown since its inception was -28.94%, which is greater than MWESX's maximum drawdown of -19.57%. Use the drawdown chart below to compare losses from any high point for MWHYX and MWESX.

Drawdown Indicators

	MWHYX	MWESX	Difference
Max Drawdown Largest peak-to-trough decline	-28.94%	-19.57%	-9.37%
Max Drawdown (1Y) Largest decline over 1 year	-2.00%	-2.71%	+0.71%
Max Drawdown (3Y) Largest decline over 3 years	-3.10%	-6.33%	+3.23%
Max Drawdown (5Y) Largest decline over 5 years	-15.95%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-15.95%	—	—
Current Drawdown Current decline from peak	-0.22%	-1.22%	+1.00%
Average Drawdown Average peak-to-trough decline	-2.39%	-6.81%	+4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	0.94%	-0.50%

Volatility

MWHYX vs. MWESX - Volatility Comparison

The current volatility for Metropolitan West High Yield Bond Fund (MWHYX) is 0.87%, while MetWest ESG Securitized Fund (MWESX) has a volatility of 1.21%. This indicates that MWHYX experiences smaller price fluctuations and is considered to be less risky than MWESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MWHYX	MWESX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	1.21%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	2.38%	2.88%	-0.50%
Volatility (1Y) Calculated over the trailing 1-year period	3.04%	3.84%	-0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.59%	6.79%	-2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.47%	6.79%	-2.32%

MWHYX vs. MWESX - Expense Ratio Comparison

MWHYX has a 0.85% expense ratio, which is higher than MWESX's 0.49% expense ratio.

Dividends

MWHYX vs. MWESX - Dividend Comparison

MWHYX's dividend yield for the trailing twelve months is around 6.54%, more than MWESX's 4.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MWESX MetWest ESG Securitized Fund	4.58%	4.55%	7.39%	3.63%	2.07%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MWHYX Metropolitan West High Yield Bond Fund	6.54%	6.04%	6.59%	6.20%	3.94%	2.90%	3.54%	4.11%	4.60%	3.42%	4.17%	4.37%

Frequently Asked Questions

Can I hold both MWHYX and MWESX in my portfolio?

MWHYX and MWESX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MWHYX or MWESX?

MWESX has higher volatility (1.21%) compared to MWHYX (0.87%). In terms of maximum drawdown, MWHYX dropped -28.94% vs MWESX's -19.57%.

Which has better risk-adjusted returns?

MWHYX currently has the higher Sharpe Ratio (1.72 vs 1.54), 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.