TGHYX vs. TGLMX

Last updated Jun 25, 2026

TGHYX (TCW High Yield Bond Fund) and TGLMX (TCW Total Return Bond Fund) are both mutual funds - TGHYX is a High Yield Bonds fund managed by TCW, while TGLMX is a Intermediate Core-Plus Bond fund managed by TCW. At a 0.13 correlation, their price movements are largely independent. TGHYX charges 0.55%/yr vs 0.49%/yr for TGLMX.

Performance

TGHYX vs. TGLMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW High Yield Bond Fund (TGHYX) and TCW Total Return Bond Fund (TGLMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TGHYX

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

TGLMX

• 1D: 0.13%
• 1M: 0.65%
• YTD: 1.25%
• 6M: 1.15%
• 1Y: 5.64%
• 3Y*: 4.68%
• 5Y*: -0.19%
• 10Y*: 1.46%

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

TGHYX vs. TGLMX - 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%
TGLMX TCW Total Return Bond Fund	1.25%	8.99%	1.82%	5.05%	-16.59%	-1.05%	8.32%	7.28%	0.80%	3.44%

Correlation

The correlation between TGHYX and TGLMX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jan 3, 1994	0.13

The correlation between TGHYX and TGLMX shifts across timeframes, from 0.13 (all time) to 0.54 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

TGHYX vs. TGLMX — Risk / Return Rank

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

TGHYX

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

TGLMX

TGLMX Risk / Return Rank: 34
TGLMX Sharpe Ratio Rank: 31
TGLMX Sortino Ratio Rank: 33
TGLMX Omega Ratio Rank: 32
TGLMX Calmar Ratio Rank: 44
TGLMX Martin Ratio Rank: 32

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. TGLMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW High Yield Bond Fund (TGHYX) and TCW Total Return Bond Fund (TGLMX). 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.

	TGHYX	TGLMX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.43	—
Sortino ratio: Return per unit of downside risk	—	2.14	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.31	—
Martin ratio: Return relative to average drawdown	—	6.61	—

Drawdowns

Drawdown Indicators

	TGHYX	TGLMX	Difference
Max Drawdown Largest peak-to-trough decline	—	-22.26%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.63%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-8.56%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.17%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.26%	—
Current Drawdown Current decline from peak	—	-2.72%	—
Average Drawdown Average peak-to-trough decline	—	-3.79%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.92%	—

Volatility

Volatility by Period

	TGHYX	TGLMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.24%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	4.27%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	7.06%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	5.60%	—

TGHYX vs. TGLMX - Expense Ratio Comparison

TGHYX has a 0.55% expense ratio, which is higher than TGLMX's 0.49% expense ratio.

Dividends

TGHYX vs. TGLMX - Dividend Comparison

TGHYX has not paid dividends to shareholders, while TGLMX's dividend yield for the trailing twelve months is around 6.74%.

Position	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%
TGLMX TCW Total Return Bond Fund	6.74%	7.19%	6.52%	6.13%	3.27%	2.08%	3.37%	4.07%	3.55%	2.89%	4.13%	2.88%

Frequently Asked Questions

Can I hold both TGHYX and TGLMX in my portfolio?

TGHYX and TGLMX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.