PIAMX vs. USHY
Compare and contrast key facts about PIA High Yield (MACS) Fund (PIAMX) and iShares Broad USD High Yield Corporate Bond ETF (USHY).
PIAMX is managed by PIA Mutual Funds. It was launched on Dec 26, 2017. USHY is a passively managed fund by iShares that tracks the performance of the ICE BofA US High Yield Constrained. It was launched on Oct 25, 2017.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PIAMX or USHY.
Key characteristics
| PIAMX | USHY | |
|---|---|---|
| YTD Return | 10.26% | 8.93% |
| 1Y Return | 15.65% | 15.38% |
| 3Y Return (Ann) | 4.37% | 2.98% |
| 5Y Return (Ann) | 6.39% | 4.46% |
| Sharpe Ratio | 5.66 | 3.29 |
| Sortino Ratio | 9.37 | 5.23 |
| Omega Ratio | 2.56 | 1.67 |
| Calmar Ratio | 7.93 | 2.64 |
| Martin Ratio | 67.00 | 26.13 |
| Ulcer Index | 0.23% | 0.56% |
| Daily Std Dev | 2.77% | 4.48% |
| Max Drawdown | -18.15% | -22.44% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between PIAMX and USHY is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PIAMX vs. USHY - Performance Comparison
In the year-to-date period, PIAMX achieves a 10.26% return, which is significantly higher than USHY's 8.93% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PIAMX vs. USHY - Expense Ratio Comparison
PIAMX has a 0.20% expense ratio, which is higher than USHY's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
PIAMX vs. USHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PIA High Yield (MACS) Fund (PIAMX) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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
PIAMX vs. USHY - Dividend Comparison
PIAMX's dividend yield for the trailing twelve months is around 8.37%, more than USHY's 6.65% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
PIAMX PIA High Yield (MACS) Fund | 8.37% | 8.12% | 8.72% | 7.03% | 6.63% | 6.74% | 6.66% | 0.06% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.65% | 6.62% | 6.08% | 5.07% | 5.31% | 5.91% | 6.30% | 0.73% |
Drawdowns
PIAMX vs. USHY - Drawdown Comparison
The maximum PIAMX drawdown since its inception was -18.15%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for PIAMX and USHY. For additional features, visit the drawdowns tool.
Volatility
PIAMX vs. USHY - Volatility Comparison
The current volatility for PIA High Yield (MACS) Fund (PIAMX) is 0.64%, while iShares Broad USD High Yield Corporate Bond ETF (USHY) has a volatility of 0.97%. This indicates that PIAMX experiences smaller price fluctuations and is considered to be less risky than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.