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. 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.
Performance
PBHAX vs. SPYD - Performance Comparison
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PBHAX vs. SPYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBHAX PGIM High Yield Fund | -0.83% | 8.79% | 6.89% | 10.75% | -12.51% | 5.63% | 4.87% | 15.86% | -1.53% | 7.50% |
SPYD SPDR Portfolio S&P 500 High Dividend ETF | 5.92% | 4.65% | 15.34% | 3.91% | -1.17% | 32.73% | -11.64% | 21.20% | -4.89% | 12.67% |
Returns By Period
In the year-to-date period, PBHAX achieves a -0.83% return, which is significantly lower than SPYD's 5.92% return. Over the past 10 years, PBHAX has underperformed SPYD with an annualized return of 5.22%, while SPYD has yielded a comparatively higher 8.45% annualized return.
PBHAX
- 1D
- 0.63%
- 1M
- -1.65%
- YTD
- -0.83%
- 6M
- 0.32%
- 1Y
- 6.13%
- 3Y*
- 7.45%
- 5Y*
- 3.14%
- 10Y*
- 5.22%
SPYD
- 1D
- -0.37%
- 1M
- -4.38%
- YTD
- 5.92%
- 6M
- 4.97%
- 1Y
- 7.58%
- 3Y*
- 11.05%
- 5Y*
- 7.71%
- 10Y*
- 8.45%
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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.
Return for Risk
PBHAX vs. SPYD — Risk / Return Rank
PBHAX
SPYD
PBHAX vs. SPYD - Risk-Adjusted Trends 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.
| PBHAX | SPYD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.68 | 0.49 | +1.19 |
Sortino ratioReturn per unit of downside risk | 2.48 | 0.78 | +1.70 |
Omega ratioGain probability vs. loss probability | 1.40 | 1.10 | +0.30 |
Calmar ratioReturn relative to maximum drawdown | 2.30 | 0.59 | +1.71 |
Martin ratioReturn relative to average drawdown | 9.48 | 2.09 | +7.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PBHAX | SPYD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | 0.49 | +1.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.48 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.96 | 0.43 | +0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.34 | 0.45 | +0.89 |
Correlation
The correlation between PBHAX and SPYD is 0.37, 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.
Dividends
PBHAX vs. SPYD - Dividend Comparison
PBHAX's dividend yield for the trailing twelve months is around 6.24%, more than SPYD's 4.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBHAX PGIM High Yield Fund | 6.24% | 6.71% | 6.01% | 5.73% | 5.94% | 5.88% | 5.70% | 5.96% | 6.26% | 5.98% | 4.61% | 6.64% |
SPYD SPDR Portfolio S&P 500 High Dividend ETF | 4.38% | 4.52% | 4.31% | 4.66% | 5.01% | 3.68% | 4.95% | 4.42% | 4.75% | 4.63% | 4.34% | 1.13% |
Drawdowns
PBHAX vs. SPYD - Drawdown Comparison
The maximum PBHAX drawdown since its inception was -28.80%, 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.
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Drawdown Indicators
| PBHAX | SPYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.80% | -46.42% | +17.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -12.35% | +9.41% |
Max Drawdown (5Y)Largest decline over 5 years | -16.22% | -22.25% | +6.03% |
Max Drawdown (10Y)Largest decline over 10 years | -21.14% | -46.42% | +25.28% |
Current DrawdownCurrent decline from peak | -1.65% | -4.70% | +3.05% |
Average DrawdownAverage peak-to-trough decline | -2.88% | -6.24% | +3.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 3.47% | -2.76% |
Volatility
PBHAX vs. SPYD - Volatility Comparison
The current volatility for PGIM High Yield Fund (PBHAX) is 1.41%, while SPDR Portfolio S&P 500 High Dividend ETF (SPYD) has a volatility of 3.03%. 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.
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Volatility by Period
| PBHAX | SPYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 3.03% | -1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 8.61% | -6.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 15.67% | -11.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.01% | 16.24% | -11.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.48% | 19.80% | -14.32% |