PTY vs. HYG
PTY (PIMCO Corporate & Income Opportunity Fund) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both funds - PTY is a Corporate Bonds fund managed by FPA, while HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index. Over the past 10 years, PTY returned 8.25%/yr vs 4.94%/yr for HYG. At a 0.36 correlation, their price movements are largely independent. PTY charges 1.19%/yr vs 0.49%/yr for HYG.
Performance
PTY vs. HYG - Performance Comparison
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Returns By Period
In the year-to-date period, PTY achieves a -3.77% return, which is significantly lower than HYG's 1.32% return. Over the past 10 years, PTY has outperformed HYG with an annualized return of 8.25%, while HYG has yielded a comparatively lower 4.94% annualized return.
PTY
- 1D
- -0.42%
- 1M
- -2.48%
- YTD
- -3.77%
- 6M
- -5.18%
- 1Y
- -4.95%
- 3Y*
- 7.52%
- 5Y*
- -0.40%
- 10Y*
- 8.25%
HYG
- 1D
- -0.28%
- 1M
- 0.36%
- YTD
- 1.32%
- 6M
- 1.73%
- 1Y
- 6.51%
- 3Y*
- 8.48%
- 5Y*
- 3.77%
- 10Y*
- 4.94%
PTY vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PTY PIMCO Corporate & Income Opportunity Fund | -3.77% | -0.51% | 19.87% | 22.56% | -18.71% | 0.40% | 3.24% | 35.36% | 2.49% | 26.63% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.32% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
Correlation
The correlation between PTY and HYG is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2007 | 0.36 |
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Return for Risk
PTY vs. HYG — Risk / Return Rank
PTY
HYG
PTY vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Corporate & Income Opportunity Fund (PTY) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
| PTY | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.18 | ||
| Sortino ratioReturn per unit of downside risk | -3.14 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.33 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 2.79 | -3.12 |
| Martin ratioReturn relative to average drawdown | -0.65 | 12.34 | -12.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PTY | HYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.46 | 1.72 | -2.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.02 | 0.50 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.60 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.46 | 0.00 |
Drawdowns
PTY vs. HYG - Drawdown Comparison
The maximum PTY drawdown since its inception was -60.86%, which is greater than HYG's maximum drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for PTY and HYG.
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Drawdown Indicators
| PTY | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.86% | -34.25% | -26.61% |
Max Drawdown (1Y)Largest decline over 1 year | -15.44% | -2.34% | -13.10% |
Max Drawdown (3Y)Largest decline over 3 years | -16.04% | -4.56% | -11.48% |
Max Drawdown (5Y)Largest decline over 5 years | -41.38% | -15.79% | -25.59% |
Max Drawdown (10Y)Largest decline over 10 years | -46.55% | -22.03% | -24.52% |
Current DrawdownCurrent decline from peak | -12.67% | -0.28% | -12.39% |
Average DrawdownAverage peak-to-trough decline | -8.61% | -3.24% | -5.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.60% | 0.53% | +7.07% |
Volatility
PTY vs. HYG - Volatility Comparison
PIMCO Corporate & Income Opportunity Fund (PTY) has a higher volatility of 2.82% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 1.21%. This indicates that PTY's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PTY | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.82% | 1.21% | +1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 7.52% | 3.01% | +4.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.82% | 3.81% | +7.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.40% | 7.53% | +9.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 8.29% | +12.91% |
PTY vs. HYG - Expense Ratio Comparison
PTY has a 1.19% expense ratio, which is higher than HYG's 0.49% expense ratio.
Dividends
PTY vs. HYG - Dividend Comparison
PTY's dividend yield for the trailing twelve months is around 12.04%, more than HYG's 5.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.92% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
PTY PIMCO Corporate & Income Opportunity Fund | 12.04% | 11.05% | 9.92% | 10.77% | 13.12% | 9.16% | 8.74% | 8.37% | 10.63% | 9.48% | 12.09% | 11.92% |
Frequently Asked Questions
PTY and HYG have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTY has higher volatility (2.82%) compared to HYG (1.21%). In terms of maximum drawdown, PTY dropped -60.86% vs HYG's -34.25%.
HYG currently has the higher Sharpe Ratio (1.72 vs -0.46), 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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