PHYIX vs. FAGIX
PHYIX (Putnam High Yield Fund) and FAGIX (Fidelity Capital & Income Fund) are both High Yield Bonds funds. Over the past 10 years, PHYIX returned 5.11%/yr vs 7.57%/yr for FAGIX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. PHYIX charges 1.01%/yr vs 0.67%/yr for FAGIX.
Performance
PHYIX vs. FAGIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PHYIX achieves a 1.84% return, which is significantly lower than FAGIX's 5.94% return. Over the past 10 years, PHYIX has underperformed FAGIX with an annualized return of 5.11%, while FAGIX has yielded a comparatively higher 7.57% annualized return.
PHYIX
- 1D
- 0.00%
- 1M
- -0.24%
- 6M
- 0.98%
- YTD
- 1.84%
- 1Y
- 5.46%
- 3Y*
- 7.97%
- 5Y*
- 4.21%
- 10Y*
- 5.11%
- ALL TIME*
- 5.75%
FAGIX
- 1D
- 0.45%
- 1M
- -1.15%
- 6M
- 4.06%
- YTD
- 5.94%
- 1Y
- 11.72%
- 3Y*
- 11.46%
- 5Y*
- 6.27%
- 10Y*
- 7.57%
- ALL TIME*
- 6.08%
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 |
PHYIX vs. FAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHYIX Putnam High Yield Fund | 1.84% | 8.57% | 7.87% | 11.95% | -11.85% | 8.32% | 5.50% | 14.02% | -3.75% | 6.76% |
FAGIX Fidelity Capital & Income Fund | 5.94% | 12.38% | 10.69% | 13.02% | -11.50% | 11.13% | 9.95% | 18.96% | -7.17% | 11.66% |
Correlation
The correlation between PHYIX and FAGIX is 0.58, 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. | 0.58 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Mar 25, 1986 | 0.59 |
The correlation between PHYIX and FAGIX shifts across timeframes, from 0.58 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PHYIX vs. FAGIX — Risk / Return Rank
PHYIX
FAGIX
PHYIX vs. FAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam High Yield Fund (PHYIX) and Fidelity Capital & Income Fund (FAGIX). 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.
| PHYIX | FAGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.29 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 2.74 | -0.86 |
| Martin ratioReturn relative to average drawdown | 9.74 | 10.24 | -0.51 |
Loading charts...
Drawdowns
PHYIX vs. FAGIX - Drawdown Comparison
The maximum PHYIX drawdown since its inception was -31.29%, smaller than the maximum FAGIX drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for PHYIX and FAGIX.
Loading charts...
Drawdown Indicators
| PHYIX | FAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.29% | -37.97% | +6.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -4.02% | +1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -4.27% | -7.26% | +2.99% |
Max Drawdown (5Y)Largest decline over 5 years | -15.22% | -15.42% | +0.20% |
Max Drawdown (10Y)Largest decline over 10 years | -21.00% | -28.45% | +7.45% |
Current DrawdownCurrent decline from peak | -0.42% | -2.63% | +2.21% |
Average DrawdownAverage peak-to-trough decline | -4.76% | -6.97% | +2.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 1.08% | -0.54% |
Volatility
PHYIX vs. FAGIX - Volatility Comparison
The current volatility for Putnam High Yield Fund (PHYIX) is 0.67%, while Fidelity Capital & Income Fund (FAGIX) has a volatility of 2.25%. This indicates that PHYIX experiences smaller price fluctuations and is considered to be less risky than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PHYIX | FAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 2.25% | -1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 5.95% | -3.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.06% | 7.05% | -3.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.03% | 6.79% | -1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.24% | 7.84% | -2.60% |
PHYIX vs. FAGIX - Expense Ratio Comparison
PHYIX has a 1.01% expense ratio, which is higher than FAGIX's 0.67% expense ratio.
Dividends
PHYIX vs. FAGIX - Dividend Comparison
PHYIX's dividend yield for the trailing twelve months is around 5.56%, more than FAGIX's 5.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAGIX Fidelity Capital & Income Fund | 5.03% | 4.74% | 5.02% | 5.28% | 10.25% | 6.08% | 4.59% | 5.00% | 5.67% | 5.05% | 4.57% | 4.51% |
PHYIX Putnam High Yield Fund | 5.56% | 5.92% | 7.84% | 5.46% | 5.04% | 7.41% | 4.56% | 4.89% | 5.30% | 5.16% | 5.54% | 5.53% |
Frequently Asked Questions
PHYIX and FAGIX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAGIX has higher volatility (2.25%) compared to PHYIX (0.67%). In terms of maximum drawdown, PHYIX dropped -31.29% vs FAGIX's -37.97%.
PHYIX currently has the higher Sharpe Ratio (1.73 vs 1.57), 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.
Find the right allocation for PHYIX and FAGIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer