SEIX vs. PHYZX

Last updated Jun 5, 2026

SEIX (Virtus Seix Senior Loan ETF) and PHYZX (PGIM High Yield Fund Class Z) are both funds - SEIX is a Bank Loan fund tracking the Credit Suisse Leveraged Loan Index, while PHYZX is a High Yield Bonds fund actively managed by PGIM. SEIX is passively managed, while PHYZX is actively managed. Over the past 5 years, SEIX returned 5.74%/yr vs 3.91%/yr for PHYZX. At a 0.22 correlation, their price movements are largely independent. SEIX charges 0.57%/yr vs 0.51%/yr for PHYZX.

Performance

SEIX vs. PHYZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Seix Senior Loan ETF (SEIX) and PGIM High Yield Fund Class Z (PHYZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEIX achieves a 2.06% return, which is significantly higher than PHYZX's 1.59% return.

SEIX

• 1D: -0.02%
• 1M: 0.36%
• YTD: 2.06%
• 6M: 2.65%
• 1Y: 6.04%
• 3Y*: 8.06%
• 5Y*: 5.74%
• 10Y*: —

PHYZX

• 1D: -0.21%
• 1M: 0.17%
• YTD: 1.59%
• 6M: 2.08%
• 1Y: 7.18%
• 3Y*: 9.09%
• 5Y*: 3.91%
• 10Y*: 6.01%

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

SEIX vs. PHYZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SEIX Virtus Seix Senior Loan ETF	2.06%	5.10%	8.42%	12.51%	-1.77%	5.49%	3.17%	3.46%
PHYZX PGIM High Yield Fund Class Z	1.59%	9.04%	8.37%	12.23%	-12.31%	5.83%	7.73%	7.17%

Correlation

The correlation between SEIX and PHYZX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (All Time) Calculated using the full available price history since Apr 26, 2019	0.22

Return for Risk

SEIX vs. PHYZX — Risk / Return Rank

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

SEIX

SEIX Risk / Return Rank: 94
SEIX Sharpe Ratio Rank: 95
SEIX Sortino Ratio Rank: 97
SEIX Omega Ratio Rank: 97
SEIX Calmar Ratio Rank: 89
SEIX Martin Ratio Rank: 91

PHYZX

PHYZX Risk / Return Rank: 68
PHYZX Sharpe Ratio Rank: 51
PHYZX Sortino Ratio Rank: 79
PHYZX Omega Ratio Rank: 80
PHYZX Calmar Ratio Rank: 62
PHYZX Martin Ratio Rank: 70

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.

SEIX vs. PHYZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Seix Senior Loan ETF (SEIX) and PGIM High Yield Fund Class Z (PHYZX). 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.

	SEIX	PHYZX	Difference
Sharpe ratio: Return per unit of total volatility	3.77	2.09	+1.68
Sortino ratio: Return per unit of downside risk	6.13	3.77	+2.37
Omega ratio: Gain probability vs. loss probability	1.85	1.53	+0.33
Calmar ratio: Return relative to maximum drawdown	5.37	3.01	+2.36
Martin ratio: Return relative to average drawdown	21.50	13.24	+8.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEIX vs. PHYZX - Sharpe Ratio Comparison

The current SEIX Sharpe Ratio is 3.77, which is higher than the PHYZX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of SEIX and PHYZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SEIX	PHYZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.77	2.09	+1.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.97	0.77	+1.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	1.20	+0.03

Drawdowns

SEIX vs. PHYZX - Drawdown Comparison

The maximum SEIX drawdown since its inception was -17.51%, smaller than the maximum PHYZX drawdown of -28.57%. Use the drawdown chart below to compare losses from any high point for SEIX and PHYZX.

Drawdown Indicators

	SEIX	PHYZX	Difference
Max Drawdown Largest peak-to-trough decline	-17.51%	-28.57%	+11.06%
Max Drawdown (1Y) Largest decline over 1 year	-1.13%	-2.47%	+1.34%
Max Drawdown (3Y) Largest decline over 3 years	-3.01%	-3.76%	+0.75%
Max Drawdown (5Y) Largest decline over 5 years	-6.69%	-16.09%	+9.40%
Max Drawdown (10Y) Largest decline over 10 years	—	-21.09%	—
Current Drawdown Current decline from peak	-0.09%	-0.41%	+0.32%
Average Drawdown Average peak-to-trough decline	-0.87%	-2.76%	+1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.28%	0.56%	-0.28%

Volatility

SEIX vs. PHYZX - Volatility Comparison

The current volatility for Virtus Seix Senior Loan ETF (SEIX) is 0.34%, while PGIM High Yield Fund Class Z (PHYZX) has a volatility of 1.23%. This indicates that SEIX experiences smaller price fluctuations and is considered to be less risky than PHYZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEIX	PHYZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.34%	1.23%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	1.29%	2.81%	-1.52%
Volatility (1Y) Calculated over the trailing 1-year period	1.61%	3.56%	-1.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.93%	5.10%	-2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.34%	5.54%	-1.20%

SEIX vs. PHYZX - Expense Ratio Comparison

SEIX has a 0.57% expense ratio, which is higher than PHYZX's 0.51% expense ratio.

Dividends

SEIX vs. PHYZX - Dividend Comparison

SEIX's dividend yield for the trailing twelve months is around 7.25%, more than PHYZX's 6.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PHYZX PGIM High Yield Fund Class Z	6.99%	6.95%	7.37%	7.00%	6.15%	6.08%	8.35%	6.21%	6.55%	6.25%	6.36%	6.93%
SEIX Virtus Seix Senior Loan ETF	7.25%	7.52%	8.09%	8.74%	5.76%	4.16%	3.75%	3.82%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SEIX and PHYZX in my portfolio?

SEIX and PHYZX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEIX or PHYZX?

PHYZX has higher volatility (1.23%) compared to SEIX (0.34%). In terms of maximum drawdown, SEIX dropped -17.51% vs PHYZX's -28.57%.

Which has better risk-adjusted returns?

SEIX currently has the higher Sharpe Ratio (3.77 vs 2.09), 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.