TGPCX vs. TGHYX

Last updated Jun 3, 2026

TGPCX (TCW Conservative Allocation Fund) and TGHYX (TCW High Yield Bond Fund) are both mutual funds - TGPCX is a Diversified Portfolio fund managed by TCW, while TGHYX is a High Yield Bonds fund managed by TCW. At a 0.40 correlation, their price movements are largely independent. TGPCX charges 0.41%/yr vs 0.55%/yr for TGHYX.

Performance

TGPCX vs. TGHYX - Performance Comparison

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

Returns By Period

TGPCX

• 1D: 0.24%
• 1M: 1.47%
• YTD: 4.73%
• 6M: 4.82%
• 1Y: 10.35%
• 3Y*: 9.62%
• 5Y*: 4.01%
• 10Y*: 5.90%

TGHYX

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

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

TGPCX vs. TGHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TGPCX TCW Conservative Allocation Fund	4.73%	9.17%	4.10%	16.54%	-15.22%	8.45%	14.24%	14.83%	-3.10%	8.83%
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%

Correlation

The correlation between TGPCX and TGHYX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Nov 20, 2006	0.40

The correlation between TGPCX and TGHYX shifts across timeframes, from 0.40 (all time) to 0.55 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TGPCX vs. TGHYX — Risk / Return Rank

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

TGPCX

TGPCX Risk / Return Rank: 43
TGPCX Sharpe Ratio Rank: 41
TGPCX Sortino Ratio Rank: 42
TGPCX Omega Ratio Rank: 43
TGPCX Calmar Ratio Rank: 39
TGPCX Martin Ratio Rank: 49

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.

TGPCX vs. TGHYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Conservative Allocation Fund (TGPCX) and TCW High Yield Bond Fund (TGHYX). 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.

	TGPCX	TGHYX	Difference
Sharpe ratio Return per unit of total volatility	1.89	—	—
Sortino ratio Return per unit of downside risk	2.73	—	—
Omega ratio Gain probability vs. loss probability	1.35	—	—
Calmar ratio Return relative to maximum drawdown	2.40	—	—
Martin ratio Return relative to average drawdown	10.03	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TGPCX	TGHYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	—	—

Drawdowns

Drawdown Indicators

	TGPCX	TGHYX	Difference
Max Drawdown Largest peak-to-trough decline	-21.03%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.43%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-7.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.27%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-20.27%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-3.13%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	—	—

Volatility

Volatility by Period

	TGPCX	TGHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.02%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.50%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.52%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.92%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.69%	—	—

TGPCX vs. TGHYX - Expense Ratio Comparison

TGPCX has a 0.41% expense ratio, which is lower than TGHYX's 0.55% expense ratio.

Dividends

TGPCX vs. TGHYX - Dividend Comparison

TGPCX's dividend yield for the trailing twelve months is around 4.38%, while TGHYX has not paid dividends to shareholders.

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%
TGPCX TCW Conservative Allocation Fund	4.38%	4.58%	7.42%	3.00%	4.86%	9.89%	1.47%	7.04%	6.71%	4.24%	6.84%	3.94%

Frequently Asked Questions

Can I hold both TGPCX and TGHYX in my portfolio?

TGPCX and TGHYX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.