RYHDX vs. PSHNX
RYHDX (Rydex High Yield Strategy Fund) and PSHNX (Penn Capital Short Duration High Income Fund) are both High Yield Bonds funds. Over the past 5 years, RYHDX returned 3.06%/yr vs 4.81%/yr for PSHNX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. RYHDX charges 1.53%/yr vs 1.01%/yr for PSHNX.
Performance
RYHDX vs. PSHNX - Performance Comparison
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Returns By Period
In the year-to-date period, RYHDX achieves a -0.60% return, which is significantly lower than PSHNX's 2.16% return.
RYHDX
- 1D
- 0.34%
- 1M
- -0.76%
- 6M
- -0.75%
- YTD
- -0.60%
- 1Y
- 3.47%
- 3Y*
- 7.70%
- 5Y*
- 3.06%
- 10Y*
- 3.76%
- ALL TIME*
- 5.00%
PSHNX
- 1D
- 0.05%
- 1M
- 0.05%
- 6M
- 1.85%
- YTD
- 2.16%
- 1Y
- 5.54%
- 3Y*
- 7.00%
- 5Y*
- 4.81%
- 10Y*
- —
- ALL TIME*
- 3.98%
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 |
RYHDX vs. PSHNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYHDX Rydex High Yield Strategy Fund | -0.60% | 10.43% | 6.65% | 12.85% | -11.62% | 1.56% | -0.23% | 14.06% | -0.93% | 1.33% |
PSHNX Penn Capital Short Duration High Income Fund | 2.16% | 7.72% | 7.19% | 8.72% | -2.26% | 3.43% | 0.88% | 7.40% | 0.61% | 0.65% |
Correlation
The correlation between RYHDX and PSHNX is 0.61, 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. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2017 | 0.60 |
The correlation between RYHDX and PSHNX has been stable across timeframes, ranging from 0.60 to 0.66 - a consistent structural relationship.
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Return for Risk
RYHDX vs. PSHNX — Risk / Return Rank
RYHDX
PSHNX
RYHDX vs. PSHNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex High Yield Strategy Fund (RYHDX) and Penn Capital Short Duration High Income Fund (PSHNX). 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.
| RYHDX | PSHNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.15 | ||
| Sortino ratioReturn per unit of downside risk | -3.51 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.69 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 4.73 | -3.84 |
| Martin ratioReturn relative to average drawdown | 3.53 | 24.06 | -20.53 |
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Drawdowns
RYHDX vs. PSHNX - Drawdown Comparison
The maximum RYHDX drawdown since its inception was -23.28%, which is greater than PSHNX's maximum drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for RYHDX and PSHNX.
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Drawdown Indicators
| RYHDX | PSHNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.28% | -14.53% | -8.75% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -1.14% | -3.11% |
Max Drawdown (3Y)Largest decline over 3 years | -5.01% | -2.83% | -2.18% |
Max Drawdown (5Y)Largest decline over 5 years | -19.09% | -6.02% | -13.07% |
Max Drawdown (10Y)Largest decline over 10 years | -19.75% | — | — |
Current DrawdownCurrent decline from peak | -1.22% | -0.05% | -1.17% |
Average DrawdownAverage peak-to-trough decline | -3.29% | -0.87% | -2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 0.22% | +0.85% |
Volatility
RYHDX vs. PSHNX - Volatility Comparison
Rydex High Yield Strategy Fund (RYHDX) has a higher volatility of 1.27% compared to Penn Capital Short Duration High Income Fund (PSHNX) at 0.42%. This indicates that RYHDX's price experiences larger fluctuations and is considered to be riskier than PSHNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYHDX | PSHNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 0.42% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 1.49% | +3.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.20% | 1.88% | +3.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.77% | 2.65% | +5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.15% | 3.13% | +5.02% |
RYHDX vs. PSHNX - Expense Ratio Comparison
RYHDX has a 1.53% expense ratio, which is higher than PSHNX's 1.01% expense ratio.
Dividends
RYHDX vs. PSHNX - Dividend Comparison
RYHDX's dividend yield for the trailing twelve months is around 9.61%, more than PSHNX's 5.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSHNX Penn Capital Short Duration High Income Fund | 5.97% | 6.27% | 6.43% | 4.95% | 3.47% | 3.17% | 3.95% | 3.65% | 3.13% | 1.46% | 0.00% | 0.00% |
RYHDX Rydex High Yield Strategy Fund | 9.61% | 9.55% | 7.31% | 4.02% | 0.32% | 0.00% | 0.00% | 4.41% | 3.50% | 8.53% | 1.93% | 3.99% |
Frequently Asked Questions
RYHDX and PSHNX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RYHDX has higher volatility (1.27%) compared to PSHNX (0.42%). In terms of maximum drawdown, RYHDX dropped -23.28% vs PSHNX's -14.53%.
PSHNX currently has the higher Sharpe Ratio (2.88 vs 0.73), 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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