PHYSX vs. SIHAX
PHYSX (PIA High Yield Fund) and SIHAX (Guggenheim High Yield Fund) are both High Yield Bonds funds. Over the past 10 years, PHYSX returned 5.42%/yr vs 4.64%/yr for SIHAX. At a 0.49 correlation, their price movements are largely independent. PHYSX charges 0.86%/yr vs 1.05%/yr for SIHAX.
Performance
PHYSX vs. SIHAX - Performance Comparison
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Returns By Period
In the year-to-date period, PHYSX achieves a 1.34% return, which is significantly higher than SIHAX's 0.60% return. Over the past 10 years, PHYSX has outperformed SIHAX with an annualized return of 5.42%, while SIHAX has yielded a comparatively lower 4.64% annualized return.
PHYSX
- 1D
- 0.12%
- 1M
- 1.15%
- YTD
- 1.34%
- 6M
- 1.65%
- 1Y
- 2.69%
- 3Y*
- 7.00%
- 5Y*
- 3.58%
- 10Y*
- 5.42%
SIHAX
- 1D
- -0.10%
- 1M
- 0.82%
- YTD
- 0.60%
- 6M
- 1.23%
- 1Y
- 4.23%
- 3Y*
- 7.15%
- 5Y*
- 3.12%
- 10Y*
- 4.64%
PHYSX vs. SIHAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHYSX PIA High Yield Fund | 1.34% | 1.82% | 10.33% | 16.17% | -11.70% | 7.36% | 8.03% | 11.06% | -2.77% | 8.04% |
SIHAX Guggenheim High Yield Fund | 0.60% | 6.84% | 6.93% | 10.74% | -10.51% | 4.36% | 4.55% | 11.26% | -3.17% | 6.91% |
Correlation
The correlation between PHYSX and SIHAX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 1999 | 0.49 |
The correlation between PHYSX and SIHAX shifts across timeframes, from 0.49 (all time) to 0.72 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PHYSX vs. SIHAX — Risk / Return Rank
PHYSX
SIHAX
PHYSX vs. SIHAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIA High Yield Fund (PHYSX) and Guggenheim High Yield Fund (SIHAX). 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.
| PHYSX | SIHAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.31 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 1.56 | -0.79 |
| Martin ratioReturn relative to average drawdown | 2.26 | 7.41 | -5.15 |
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Drawdowns
PHYSX vs. SIHAX - Drawdown Comparison
The maximum PHYSX drawdown since its inception was -24.10%, smaller than the maximum SIHAX drawdown of -36.72%. Use the drawdown chart below to compare losses from any high point for PHYSX and SIHAX.
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Drawdown Indicators
| PHYSX | SIHAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.10% | -36.72% | +12.62% |
Max Drawdown (1Y)Largest decline over 1 year | -3.82% | -2.86% | -0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -3.40% | -2.71% |
Max Drawdown (5Y)Largest decline over 5 years | -13.99% | -13.95% | -0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -19.86% | -19.31% | -0.55% |
Current DrawdownCurrent decline from peak | -0.00% | -0.31% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -1.88% | -2.62% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 0.60% | +0.70% |
Volatility
PHYSX vs. SIHAX - Volatility Comparison
The current volatility for PIA High Yield Fund (PHYSX) is 0.65%, while Guggenheim High Yield Fund (SIHAX) has a volatility of 0.86%. This indicates that PHYSX experiences smaller price fluctuations and is considered to be less risky than SIHAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHYSX | SIHAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 0.86% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 2.55% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.22% | 3.20% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.06% | 4.39% | -0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.09% | 4.59% | -0.50% |
PHYSX vs. SIHAX - Expense Ratio Comparison
PHYSX has a 0.86% expense ratio, which is lower than SIHAX's 1.05% expense ratio.
Dividends
PHYSX vs. SIHAX - Dividend Comparison
PHYSX's dividend yield for the trailing twelve months is around 7.36%, more than SIHAX's 6.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHYSX PIA High Yield Fund | 7.36% | 8.44% | 7.66% | 7.12% | 7.60% | 6.14% | 6.31% | 6.76% | 6.51% | 6.37% | 6.10% | 6.40% |
SIHAX Guggenheim High Yield Fund | 6.34% | 6.39% | 5.45% | 4.91% | 4.75% | 3.70% | 4.79% | 5.44% | 6.86% | 5.53% | 6.09% | 7.53% |
Frequently Asked Questions
PHYSX and SIHAX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIHAX has higher volatility (0.86%) compared to PHYSX (0.65%). In terms of maximum drawdown, PHYSX dropped -24.10% vs SIHAX's -36.72%.
SIHAX currently has the higher Sharpe Ratio (1.40 vs 0.91), 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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