TGHYX vs. FHYSX

Last updated Apr 2, 2026

Compare and contrast key facts about TCW High Yield Bond Fund (TGHYX) and Federated Hermes High-Yield Strategy Portfolio (FHYSX).

TGHYX is managed by TCW. It was launched on Feb 26, 1993. FHYSX is managed by Federated. It was launched on Dec 24, 2008.

Performance

TGHYX vs. FHYSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW High Yield Bond Fund (TGHYX) and Federated Hermes High-Yield Strategy Portfolio (FHYSX). The values are adjusted to include any dividend payments, if applicable.

TGHYX vs. FHYSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TGHYX TCW High Yield Bond Fund	0.00%	0.00%	6.19%	10.65%	-8.76%	3.46%	10.03%	12.98%	0.01%	6.28%
FHYSX Federated Hermes High-Yield Strategy Portfolio	-1.26%	9.14%	6.42%	12.77%	-13.16%	4.49%	6.08%	15.14%	-2.16%	8.34%

Returns By Period

TGHYX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FHYSX

• 1D: 0.52%
• 1M: -1.60%
• YTD: -1.26%
• 6M: 0.52%
• 1Y: 6.43%
• 3Y*: 7.67%
• 5Y*: 3.19%
• 10Y*: 5.44%

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

TGHYX vs. FHYSX - Expense Ratio Comparison

TGHYX has a 0.55% expense ratio, which is higher than FHYSX's 0.02% expense ratio.

TGHYX

TCW High Yield Bond Fund

FHYSX

Federated Hermes High-Yield Strategy Portfolio

Return for Risk

TGHYX vs. FHYSX — Risk / Return Rank

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

FHYSX

FHYSX Risk / Return Rank: 90
FHYSX Sharpe Ratio Rank: 86
FHYSX Sortino Ratio Rank: 87
FHYSX Omega Ratio Rank: 93
FHYSX Calmar Ratio Rank: 91
FHYSX Martin Ratio Rank: 91

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.

TGHYX vs. FHYSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW High Yield Bond Fund (TGHYX) and Federated Hermes High-Yield Strategy Portfolio (FHYSX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TGHYX	FHYSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.71	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.95	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.86	—

Correlation

The correlation between TGHYX and FHYSX is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TGHYX vs. FHYSX - Dividend Comparison

TGHYX has not paid dividends to shareholders, while FHYSX's dividend yield for the trailing twelve months is around 5.79%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TGHYX TCW High Yield Bond Fund	0.00%	0.00%	5.04%	5.91%	5.32%	5.70%	3.84%	4.32%	5.17%	4.35%	4.12%	4.50%
FHYSX Federated Hermes High-Yield Strategy Portfolio	5.79%	6.28%	5.84%	5.30%	5.27%	4.54%	5.74%	6.18%	6.61%	6.98%	6.45%	8.45%

Drawdowns

Drawdown Indicators

	TGHYX	FHYSX	Difference
Max Drawdown Largest peak-to-trough decline	—	-21.45%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.45%	—
Current Drawdown Current decline from peak	—	-1.77%	—
Average Drawdown Average peak-to-trough decline	—	-2.61%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.62%	—

Volatility

Volatility by Period

	TGHYX	FHYSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.43%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.79%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	5.20%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	5.77%	—