PYHRX vs. USHY
Compare and contrast key facts about Payden High Income Fund (PYHRX) and iShares Broad USD High Yield Corporate Bond ETF (USHY).
PYHRX is managed by Paydenfunds. It was launched on Dec 30, 1997. 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: PYHRX or USHY.
Key characteristics
| PYHRX | USHY | |
|---|---|---|
| YTD Return | 7.74% | 7.97% |
| 1Y Return | 14.50% | 14.18% |
| 3Y Return (Ann) | 3.88% | 2.76% |
| 5Y Return (Ann) | 5.57% | 4.26% |
| Sharpe Ratio | 3.72 | 2.70 |
| Daily Std Dev | 3.90% | 5.26% |
| Max Drawdown | -27.79% | -22.44% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between PYHRX and USHY is 0.62, 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
PYHRX vs. USHY - Performance Comparison
The year-to-date returns for both investments are quite close, with PYHRX having a 7.74% return and USHY slightly higher at 7.97%. 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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PYHRX vs. USHY - Expense Ratio Comparison
PYHRX has a 0.60% expense ratio, which is higher than USHY's 0.15% expense ratio.
Risk-Adjusted Performance
PYHRX vs. USHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden High Income Fund (PYHRX) 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
PYHRX vs. USHY - Dividend Comparison
PYHRX's dividend yield for the trailing twelve months is around 6.86%, more than USHY's 6.57% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PYHRX Payden High Income Fund | 6.86% | 6.67% | 6.05% | 4.79% | 4.99% | 5.23% | 5.88% | 5.27% | 5.24% | 5.49% | 10.08% | 8.70% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.57% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.72% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PYHRX vs. USHY - Drawdown Comparison
The maximum PYHRX drawdown since its inception was -27.79%, which is greater than USHY's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for PYHRX and USHY. For additional features, visit the drawdowns tool.
Volatility
PYHRX vs. USHY - Volatility Comparison
The current volatility for Payden High Income Fund (PYHRX) is 0.64%, while iShares Broad USD High Yield Corporate Bond ETF (USHY) has a volatility of 0.93%. This indicates that PYHRX 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.