PBHAX vs. SPYD
Compare and contrast key facts about PGIM High Yield Fund (PBHAX) and SPDR Portfolio S&P 500 High Dividend ETF (SPYD).
PBHAX is managed by PGIM Investments. It was launched on Jan 22, 1990. SPYD is a passively managed fund by State Street that tracks the performance of the S&P 500 High Dividend Index. It was launched on Oct 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PBHAX or SPYD.
Key characteristics
| PBHAX | SPYD | |
|---|---|---|
| YTD Return | 7.86% | 20.52% |
| 1Y Return | 14.18% | 34.92% |
| 3Y Return (Ann) | 1.98% | 7.98% |
| 5Y Return (Ann) | 3.82% | 8.16% |
| Sharpe Ratio | 3.70 | 2.96 |
| Sortino Ratio | 6.79 | 4.19 |
| Omega Ratio | 1.99 | 1.54 |
| Calmar Ratio | 1.94 | 2.46 |
| Martin Ratio | 24.01 | 20.60 |
| Ulcer Index | 0.63% | 1.96% |
| Daily Std Dev | 4.11% | 13.64% |
| Max Drawdown | -28.75% | -46.42% |
| Current Drawdown | -0.46% | -1.02% |
Correlation
The correlation between PBHAX and SPYD is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
PBHAX vs. SPYD - Performance Comparison
In the year-to-date period, PBHAX achieves a 7.86% return, which is significantly lower than SPYD's 20.52% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PBHAX vs. SPYD - Expense Ratio Comparison
PBHAX has a 0.75% expense ratio, which is higher than SPYD's 0.07% expense ratio.
Risk-Adjusted Performance
PBHAX vs. SPYD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM High Yield Fund (PBHAX) and SPDR Portfolio S&P 500 High Dividend ETF (SPYD). 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.
Dividends
PBHAX vs. SPYD - Dividend Comparison
PBHAX's dividend yield for the trailing twelve months is around 7.12%, more than SPYD's 4.05% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBHAX PGIM High Yield Fund | 7.12% | 6.77% | 6.74% | 5.25% | 5.70% | 5.99% | 6.27% | 6.01% | 6.20% | 6.65% | 6.37% | 6.39% |
SPYD SPDR Portfolio S&P 500 High Dividend ETF | 4.05% | 4.66% | 5.01% | 3.69% | 4.96% | 4.42% | 4.75% | 4.64% | 4.34% | 1.13% | 0.00% | 0.00% |
Drawdowns
PBHAX vs. SPYD - Drawdown Comparison
The maximum PBHAX drawdown since its inception was -28.75%, smaller than the maximum SPYD drawdown of -46.42%. Use the drawdown chart below to compare losses from any high point for PBHAX and SPYD. For additional features, visit the drawdowns tool.
Volatility
PBHAX vs. SPYD - Volatility Comparison
The current volatility for PGIM High Yield Fund (PBHAX) is 0.73%, while SPDR Portfolio S&P 500 High Dividend ETF (SPYD) has a volatility of 3.59%. This indicates that PBHAX experiences smaller price fluctuations and is considered to be less risky than SPYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.