SIHAX vs. TYHYX

Last updated Jun 24, 2026

SIHAX (Guggenheim High Yield Fund) and TYHYX (Pioneer High Yield Fund) are both High Yield Bonds funds. Over the past 10 years, SIHAX returned 4.65%/yr vs 4.87%/yr for TYHYX. A 0.59 correlation means they provide meaningful diversification when combined. SIHAX charges 1.05%/yr vs 0.85%/yr for TYHYX.

Performance

SIHAX vs. TYHYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Guggenheim High Yield Fund (SIHAX) and Pioneer High Yield Fund (TYHYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIHAX achieves a 0.70% return, which is significantly lower than TYHYX's 1.85% return. Both investments have delivered pretty close results over the past 10 years, with SIHAX having a 4.65% annualized return and TYHYX not far ahead at 4.87%.

SIHAX

• 1D: -0.10%
• 1M: 0.93%
• YTD: 0.70%
• 6M: 1.33%
• 1Y: 4.54%
• 3Y*: 7.19%
• 5Y*: 3.18%
• 10Y*: 4.65%

TYHYX

• 1D: 0.00%
• 1M: 0.84%
• YTD: 1.85%
• 6M: 2.45%
• 1Y: 6.72%
• 3Y*: 7.38%
• 5Y*: 3.04%
• 10Y*: 4.87%

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

SIHAX vs. TYHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIHAX Guggenheim High Yield Fund	0.70%	6.84%	6.93%	10.74%	-10.51%	4.36%	4.55%	11.26%	-3.17%	6.91%
TYHYX Pioneer High Yield Fund	1.85%	7.99%	6.55%	9.17%	-11.19%	5.99%	3.35%	14.36%	-3.30%	7.87%

Correlation

The correlation between SIHAX and TYHYX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Feb 18, 1998	0.59

Over the past year, SIHAX and TYHYX have become more correlated (0.81) than their long-term average of 0.59, meaning their price movements have been converging.

Return for Risk

SIHAX vs. TYHYX — Risk / Return Rank

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

SIHAX

SIHAX Risk / Return Rank: 37
SIHAX Sharpe Ratio Rank: 32
SIHAX Sortino Ratio Rank: 47
SIHAX Omega Ratio Rank: 45
SIHAX Calmar Ratio Rank: 24
SIHAX Martin Ratio Rank: 38

TYHYX

TYHYX Risk / Return Rank: 70
TYHYX Sharpe Ratio Rank: 57
TYHYX Sortino Ratio Rank: 80
TYHYX Omega Ratio Rank: 80
TYHYX Calmar Ratio Rank: 56
TYHYX Martin Ratio Rank: 77

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.

SIHAX vs. TYHYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Guggenheim High Yield Fund (SIHAX) and Pioneer High Yield Fund (TYHYX). 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.

	SIHAX	TYHYX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.05	-0.55
Sortino ratio: Return per unit of downside risk	2.66	3.50	-0.85
Omega ratio: Gain probability vs. loss probability	1.33	1.48	-0.15
Calmar ratio: Return relative to maximum drawdown	1.67	2.76	-1.08
Martin ratio: Return relative to average drawdown	7.95	13.51	-5.56

SIHAX vs. TYHYX - Sharpe Ratio Comparison

The current SIHAX Sharpe Ratio is 1.50, which is comparable to the TYHYX Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SIHAX and TYHYX, 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

SIHAX vs. TYHYX - Drawdown Comparison

The maximum SIHAX drawdown since its inception was -36.72%, smaller than the maximum TYHYX drawdown of -40.86%. Use the drawdown chart below to compare losses from any high point for SIHAX and TYHYX.

Drawdown Indicators

	SIHAX	TYHYX	Difference
Max Drawdown Largest peak-to-trough decline	-36.72%	-40.86%	+4.14%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	-2.49%	-0.37%
Max Drawdown (3Y) Largest decline over 3 years	-3.40%	-4.19%	+0.79%
Max Drawdown (5Y) Largest decline over 5 years	-13.95%	-14.11%	+0.16%
Max Drawdown (10Y) Largest decline over 10 years	-19.31%	-23.73%	+4.42%
Current Drawdown Current decline from peak	-0.20%	-0.23%	+0.03%
Average Drawdown Average peak-to-trough decline	-2.62%	-3.98%	+1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.60%	0.51%	+0.09%

Volatility

SIHAX vs. TYHYX - Volatility Comparison

Guggenheim High Yield Fund (SIHAX) and Pioneer High Yield Fund (TYHYX) have volatilities of 0.85% and 0.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIHAX	TYHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.85%	0.84%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.54%	2.79%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	3.20%	3.35%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.39%	4.47%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.60%	5.21%	-0.61%

SIHAX vs. TYHYX - Expense Ratio Comparison

SIHAX has a 1.05% expense ratio, which is higher than TYHYX's 0.85% expense ratio.

Dividends

SIHAX vs. TYHYX - Dividend Comparison

SIHAX's dividend yield for the trailing twelve months is around 6.33%, more than TYHYX's 5.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SIHAX Guggenheim High Yield Fund	6.33%	6.39%	5.45%	4.91%	4.75%	3.70%	4.79%	5.44%	6.86%	5.53%	6.09%	7.53%
TYHYX Pioneer High Yield Fund	5.81%	5.91%	4.13%	4.10%	5.23%	4.44%	5.23%	5.17%	5.13%	4.97%	5.12%	6.29%

Frequently Asked Questions

Can I hold both SIHAX and TYHYX in my portfolio?

SIHAX and TYHYX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIHAX or TYHYX?

SIHAX has higher volatility (0.85%) compared to TYHYX (0.84%). In terms of maximum drawdown, SIHAX dropped -36.72% vs TYHYX's -40.86%.

Which has better risk-adjusted returns?

TYHYX currently has the higher Sharpe Ratio (2.05 vs 1.50), 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.