TGPCX vs. TGHYX

Last updated Apr 2, 2026

Compare and contrast key facts about TCW Conservative Allocation Fund (TGPCX) and TCW High Yield Bond Fund (TGHYX).

TGPCX is managed by TCW. It was launched on Nov 15, 2006. TGHYX is managed by TCW. It was launched on Feb 26, 1993.

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.

TGPCX vs. TGHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TGPCX TCW Conservative Allocation Fund	-0.42%	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%

Returns By Period

TGPCX

• 1D: 1.11%
• 1M: -2.88%
• YTD: -0.42%
• 6M: 0.39%
• 1Y: 6.37%
• 3Y*: 8.32%
• 5Y*: 3.58%
• 10Y*: 5.46%

TGHYX

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

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

TGPCX vs. TGHYX - Expense Ratio Comparison

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

TGHYX

TCW High Yield Bond Fund

TGPCX

TCW Conservative Allocation Fund

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: 48
TGPCX Sharpe Ratio Rank: 48
TGPCX Sortino Ratio Rank: 46
TGPCX Omega Ratio Rank: 41
TGPCX Calmar Ratio Rank: 55
TGPCX Martin Ratio Rank: 52

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	1.05	—	—
Sortino ratio Return per unit of downside risk	1.50	—	—
Omega ratio Gain probability vs. loss probability	1.21	—	—
Calmar ratio Return relative to maximum drawdown	1.57	—	—
Martin ratio Return relative to average drawdown	5.91	—	—
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	1.05	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	—	—

Correlation

The correlation between TGPCX and TGHYX is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TGPCX vs. TGHYX - Dividend Comparison

TGPCX's dividend yield for the trailing twelve months is around 4.60%, while TGHYX has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TGPCX TCW Conservative Allocation Fund	4.60%	4.58%	7.42%	3.00%	4.86%	9.89%	1.47%	7.04%	6.71%	4.24%	6.84%	3.94%
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%

Drawdowns

Drawdown Indicators

	TGPCX	TGHYX	Difference
Max Drawdown Largest peak-to-trough decline	-21.03%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.48%	—	—
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	-3.28%	—	—
Average Drawdown Average peak-to-trough decline	-3.16%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	—	—

Volatility

Volatility by Period

	TGPCX	TGHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.01%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.54%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.90%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.65%	—	—