PCHI vs. PHYD

Last updated Jul 14, 2026

PCHI (Polen High Income ETF) and PHYD (Putnam ESG High Yield ETF -) are both High Yield Bonds funds. Both are actively managed. At a 0.41 correlation, their price movements are largely independent. PCHI charges 0.56%/yr vs 0.55%/yr for PHYD.

Performance

PCHI vs. PHYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Polen High Income ETF (PCHI) and Putnam ESG High Yield ETF - (PHYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PCHI

• 1D: -2.15%
• 1M: 0.93%
• 6M: 0.81%
• YTD: 1.28%
• 1Y: 4.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PHYD

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCHI vs. PHYD - Yearly Performance Comparison

	2026 (YTD)	2025
PCHI Polen High Income ETF	1.28%	5.19%
PHYD Putnam ESG High Yield ETF -	2.32%	7.20%

Correlation

The correlation between PCHI and PHYD is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Mar 25, 2025	0.41

Return for Risk

PCHI vs. PHYD — Risk / Return Rank

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

PCHI

PCHI Risk / Return Rank: 21
PCHI Sharpe Ratio Rank: 17
PCHI Sortino Ratio Rank: 15
PCHI Omega Ratio Rank: 23
PCHI Calmar Ratio Rank: 19
PCHI Martin Ratio Rank: 32

PHYD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

PCHI vs. PHYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Polen High Income ETF (PCHI) and Putnam ESG High Yield ETF - (PHYD). 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.

	PCHI	PHYD	Difference
Sharpe ratio: Return per unit of total volatility	0.41	—	—
Sortino ratio: Return per unit of downside risk	0.65	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	0.65	—	—
Martin ratio: Return relative to average drawdown	3.81	—	—

Drawdowns

Drawdown Indicators

	PCHI	PHYD	Difference
Max Drawdown Largest peak-to-trough decline	-6.41%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-6.41%	—	—
Current Drawdown Current decline from peak	-2.15%	—	—
Average Drawdown Average peak-to-trough decline	-0.82%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	—	—

Volatility

Volatility by Period

	PCHI	PHYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.73%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.18%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.53%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.53%	—	—

PCHI vs. PHYD - Expense Ratio Comparison

PCHI has a 0.56% expense ratio, which is higher than PHYD's 0.55% expense ratio.

Dividends

PCHI vs. PHYD - Dividend Comparison

PCHI's dividend yield for the trailing twelve months is around 8.03%, while PHYD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
PCHI Polen High Income ETF	8.03%	5.62%	0.00%	0.00%
PHYD Putnam ESG High Yield ETF -	8.52%	6.63%	6.80%	6.15%

Frequently Asked Questions

Can I hold both PCHI and PHYD in my portfolio?

PCHI and PHYD have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PCHI or PHYD?

On fees, PHYD is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PCHI or PHYD?

PHYD is cheaper with a 0.55% expense ratio, compared with 0.56% for PCHI.

Which ETF pays a higher dividend yield, PCHI or PHYD?

PHYD has the higher dividend yield at 8.52%, compared with 8.03% for PCHI.

What is the main difference between PCHI and PHYD?

They also come from different issuers: Polen Capital and Putnam. Their fees differ too: 0.56% for PCHI and 0.55% for PHYD.