PHIYX vs. FSIGX
PHIYX (PIMCO High Yield Fund) and FSIGX (Fidelity Series Investment Grade Bond Fund) are both mutual funds - PHIYX is a High Yield Bonds fund managed by PIMCO, while FSIGX is a Investment Grade Bonds fund managed by Fidelity. Over the past 10 years, PHIYX returned 4.67%/yr vs 2.10%/yr for FSIGX. Their 0.27 correlation means their historical movements had little consistent relationship.
Performance
PHIYX vs. FSIGX - Performance Comparison
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Returns By Period
In the year-to-date period, PHIYX achieves a 0.34% return, which is significantly higher than FSIGX's -0.48% return. Over the past 10 years, PHIYX has outperformed FSIGX with an annualized return of 4.67%, while FSIGX has yielded a comparatively lower 2.10% annualized return.
PHIYX
- 1D
- 0.25%
- 1M
- -0.87%
- 6M
- 0.08%
- YTD
- 0.34%
- 1Y
- 4.45%
- 3Y*
- 7.31%
- 5Y*
- 3.19%
- 10Y*
- 4.67%
- ALL TIME*
- 6.72%
FSIGX
- 1D
- 0.00%
- 1M
- -1.19%
- 6M
- -0.73%
- YTD
- -0.48%
- 1Y
- 1.91%
- 3Y*
- 4.14%
- 5Y*
- 0.03%
- 10Y*
- 2.10%
- ALL TIME*
- 3.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PHIYX vs. FSIGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHIYX PIMCO High Yield Fund | 0.34% | 8.60% | 6.81% | 12.83% | -11.96% | 4.07% | 5.37% | 14.96% | -2.47% | 7.03% |
FSIGX Fidelity Series Investment Grade Bond Fund | -0.48% | 7.65% | 1.79% | 6.82% | -13.30% | -0.67% | 9.71% | 9.75% | -0.15% | 4.39% |
Correlation
The correlation between PHIYX and FSIGX is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.38 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2008 | 0.27 |
Over the past year, PHIYX and FSIGX have become more correlated (0.61) than their long-term average of 0.27, meaning their price movements have been converging.
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Return for Risk
PHIYX vs. FSIGX — Risk / Return Rank
PHIYX
FSIGX
PHIYX vs. FSIGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO High Yield Fund (PHIYX) and Fidelity Series Investment Grade Bond Fund (FSIGX). 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.
| PHIYX | FSIGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.15 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 1.08 | +0.83 |
| Martin ratioReturn relative to average drawdown | 8.66 | 2.62 | +6.03 |
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Drawdowns
PHIYX vs. FSIGX - Drawdown Comparison
The maximum PHIYX drawdown since its inception was -32.73%, which is greater than FSIGX's maximum drawdown of -18.22%. Use the drawdown chart below to compare losses from any high point for PHIYX and FSIGX.
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Drawdown Indicators
| PHIYX | FSIGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.73% | -18.22% | -14.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.58% | -2.99% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -3.54% | -5.20% | +1.66% |
Max Drawdown (5Y)Largest decline over 5 years | -15.74% | -18.22% | +2.48% |
Max Drawdown (10Y)Largest decline over 10 years | -20.30% | -18.22% | -2.08% |
Current DrawdownCurrent decline from peak | -1.00% | -2.48% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -2.17% | -2.68% | +0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 1.22% | -0.65% |
Volatility
PHIYX vs. FSIGX - Volatility Comparison
The current volatility for PIMCO High Yield Fund (PHIYX) is 0.73%, while Fidelity Series Investment Grade Bond Fund (FSIGX) has a volatility of 1.02%. This indicates that PHIYX experiences smaller price fluctuations and is considered to be less risky than FSIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHIYX | FSIGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 1.02% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 3.03% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.45% | 3.89% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.31% | 6.08% | -0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.58% | 5.03% | +0.55% |
Dividends
PHIYX vs. FSIGX - Dividend Comparison
PHIYX's dividend yield for the trailing twelve months is around 5.95%, more than FSIGX's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSIGX Fidelity Series Investment Grade Bond Fund | 3.97% | 4.24% | 4.01% | 4.00% | 2.37% | 1.88% | 6.32% | 3.09% | 3.20% | 2.86% | 4.32% | 3.07% |
PHIYX PIMCO High Yield Fund | 5.95% | 6.19% | 6.18% | 5.62% | 6.01% | 4.53% | 4.55% | 5.04% | 5.63% | 5.11% | 5.37% | 8.79% |
Frequently Asked Questions
PHIYX and FSIGX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSIGX has higher volatility (1.02%) compared to PHIYX (0.73%). In terms of maximum drawdown, PHIYX dropped -32.73% vs FSIGX's -18.22%.
PHIYX currently has the higher Sharpe Ratio (1.43 vs 0.83), 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.
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