SCFIX vs. MWHYX

Last updated Jun 23, 2026

SCFIX (Shenkman Capital Short Duration High Income Fund) and MWHYX (Metropolitan West High Yield Bond Fund) are both High Yield Bonds funds. Over the past 10 years, SCFIX returned 4.40%/yr vs 4.61%/yr for MWHYX. A 0.69 correlation means they provide meaningful diversification when combined. SCFIX charges 0.67%/yr vs 0.85%/yr for MWHYX.

Performance

SCFIX vs. MWHYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shenkman Capital Short Duration High Income Fund (SCFIX) and Metropolitan West High Yield Bond Fund (MWHYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SCFIX having a 1.63% return and MWHYX slightly lower at 1.57%. Both investments have delivered pretty close results over the past 10 years, with SCFIX having a 4.40% annualized return and MWHYX not far ahead at 4.61%.

SCFIX

• 1D: 0.10%
• 1M: 0.55%
• YTD: 1.63%
• 6M: 1.92%
• 1Y: 5.23%
• 3Y*: 6.57%
• 5Y*: 4.49%
• 10Y*: 4.40%

MWHYX

• 1D: 0.00%
• 1M: 0.59%
• YTD: 1.57%
• 6M: 2.29%
• 1Y: 5.09%
• 3Y*: 6.86%
• 5Y*: 2.44%
• 10Y*: 4.61%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SCFIX vs. MWHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCFIX Shenkman Capital Short Duration High Income Fund	1.63%	7.02%	6.11%	9.24%	-2.52%	5.08%	3.36%	7.61%	0.85%	3.54%
MWHYX Metropolitan West High Yield Bond Fund	1.57%	6.09%	6.24%	10.77%	-12.58%	2.85%	11.47%	12.30%	-0.91%	6.23%

Correlation

The correlation between SCFIX and MWHYX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.69

The correlation between SCFIX and MWHYX has been stable across timeframes, ranging from 0.69 to 0.75 - a consistent structural relationship.

Return for Risk

SCFIX vs. MWHYX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SCFIX

SCFIX Risk / Return Rank: 96
SCFIX Sharpe Ratio Rank: 97
SCFIX Sortino Ratio Rank: 97
SCFIX Omega Ratio Rank: 96
SCFIX Calmar Ratio Rank: 93
SCFIX Martin Ratio Rank: 97

MWHYX

MWHYX Risk / Return Rank: 58
MWHYX Sharpe Ratio Rank: 40
MWHYX Sortino Ratio Rank: 71
MWHYX Omega Ratio Rank: 63
MWHYX Calmar Ratio Rank: 51
MWHYX Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SCFIX vs. MWHYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shenkman Capital Short Duration High Income Fund (SCFIX) and Metropolitan West High Yield Bond Fund (MWHYX). 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.

	SCFIX	MWHYX	Difference
Sharpe ratio: Return per unit of total volatility	3.27	1.72	+1.55
Sortino ratio: Return per unit of downside risk	5.38	3.18	+2.20
Omega ratio: Gain probability vs. loss probability	1.80	1.40	+0.40
Calmar ratio: Return relative to maximum drawdown	4.81	2.61	+2.20
Martin ratio: Return relative to average drawdown	25.80	11.97	+13.82

SCFIX vs. MWHYX - Sharpe Ratio Comparison

The current SCFIX Sharpe Ratio is 3.27, which is higher than the MWHYX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of SCFIX and MWHYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SCFIX vs. MWHYX - Drawdown Comparison

The maximum SCFIX drawdown since its inception was -13.08%, smaller than the maximum MWHYX drawdown of -28.94%. Use the drawdown chart below to compare losses from any high point for SCFIX and MWHYX.

Drawdown Indicators

	SCFIX	MWHYX	Difference
Max Drawdown Largest peak-to-trough decline	-13.08%	-28.94%	+15.86%
Max Drawdown (1Y) Largest decline over 1 year	-1.11%	-2.00%	+0.89%
Max Drawdown (3Y) Largest decline over 3 years	-1.72%	-3.10%	+1.38%
Max Drawdown (5Y) Largest decline over 5 years	-6.30%	-15.95%	+9.65%
Max Drawdown (10Y) Largest decline over 10 years	-13.08%	-15.95%	+2.87%
Current Drawdown Current decline from peak	0.00%	-0.22%	+0.22%
Average Drawdown Average peak-to-trough decline	-0.51%	-2.39%	+1.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	0.44%	-0.23%

Volatility

SCFIX vs. MWHYX - Volatility Comparison

The current volatility for Shenkman Capital Short Duration High Income Fund (SCFIX) is 0.43%, while Metropolitan West High Yield Bond Fund (MWHYX) has a volatility of 0.87%. This indicates that SCFIX experiences smaller price fluctuations and is considered to be less risky than MWHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCFIX	MWHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.43%	0.87%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	1.31%	2.38%	-1.07%
Volatility (1Y) Calculated over the trailing 1-year period	1.64%	3.04%	-1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.78%	4.59%	-1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.28%	4.47%	-1.19%

SCFIX vs. MWHYX - Expense Ratio Comparison

SCFIX has a 0.67% expense ratio, which is lower than MWHYX's 0.85% expense ratio.

Dividends

SCFIX vs. MWHYX - Dividend Comparison

SCFIX's dividend yield for the trailing twelve months is around 5.31%, less than MWHYX's 6.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MWHYX Metropolitan West High Yield Bond Fund	6.54%	6.04%	6.59%	6.20%	3.94%	2.90%	3.54%	4.11%	4.60%	3.42%	4.17%	4.37%
SCFIX Shenkman Capital Short Duration High Income Fund	5.31%	5.54%	5.85%	5.21%	3.86%	4.93%	3.24%	3.78%	3.87%	3.09%	3.07%	3.38%

Frequently Asked Questions

Can I hold both SCFIX and MWHYX in my portfolio?

SCFIX and MWHYX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCFIX or MWHYX?

MWHYX has higher volatility (0.87%) compared to SCFIX (0.43%). In terms of maximum drawdown, SCFIX dropped -13.08% vs MWHYX's -28.94%.

Which has better risk-adjusted returns?

SCFIX currently has the higher Sharpe Ratio (3.27 vs 1.72), 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.