PGHY vs. HYZD
Compare and contrast key facts about Invesco Global Short Term High Yield Bond ETF (PGHY) and WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD).
PGHY and HYZD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGHY is a passively managed fund by Invesco that tracks the performance of the DB Global Short Maturity High Yield Bond Index. It was launched on Jun 20, 2013. HYZD is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. It was launched on Dec 18, 2013. Both PGHY and HYZD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PGHY or HYZD.
Performance
PGHY vs. HYZD - Performance Comparison
Returns By Period
The year-to-date returns for both stocks are quite close, with PGHY having a 9.44% return and HYZD slightly lower at 9.38%. Over the past 10 years, PGHY has underperformed HYZD with an annualized return of 4.04%, while HYZD has yielded a comparatively higher 4.51% annualized return.
PGHY
9.44%
0.28%
5.50%
13.80%
3.68%
4.04%
HYZD
9.38%
1.15%
5.03%
11.86%
5.17%
4.51%
Key characteristics
| PGHY | HYZD | |
|---|---|---|
| Sharpe Ratio | 3.19 | 2.68 |
| Sortino Ratio | 4.92 | 4.08 |
| Omega Ratio | 1.64 | 1.51 |
| Calmar Ratio | 7.33 | 4.52 |
| Martin Ratio | 28.44 | 25.60 |
| Ulcer Index | 0.50% | 0.47% |
| Daily Std Dev | 4.41% | 4.52% |
| Max Drawdown | -20.50% | -25.66% |
| Current Drawdown | -0.05% | -0.49% |
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PGHY vs. HYZD - Expense Ratio Comparison
PGHY has a 0.35% expense ratio, which is lower than HYZD's 0.43% expense ratio.
Correlation
The correlation between PGHY and HYZD is 0.23, 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.
Risk-Adjusted Performance
PGHY vs. HYZD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Short Term High Yield Bond ETF (PGHY) and WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD). 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
PGHY vs. HYZD - Dividend Comparison
PGHY's dividend yield for the trailing twelve months is around 7.39%, more than HYZD's 6.08% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGHY Invesco Global Short Term High Yield Bond ETF | 7.39% | 7.86% | 5.12% | 5.18% | 5.45% | 5.33% | 5.45% | 5.52% | 6.26% | 4.59% | 4.40% | 1.90% |
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 6.08% | 5.94% | 5.14% | 4.02% | 5.14% | 5.51% | 5.58% | 4.95% | 5.07% | 4.38% | 3.82% | 0.10% |
Drawdowns
PGHY vs. HYZD - Drawdown Comparison
The maximum PGHY drawdown since its inception was -20.50%, smaller than the maximum HYZD drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for PGHY and HYZD. For additional features, visit the drawdowns tool.
Volatility
PGHY vs. HYZD - Volatility Comparison
Invesco Global Short Term High Yield Bond ETF (PGHY) and WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) have volatilities of 1.19% and 1.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.