THHYX vs. BCAAX

Last updated Jun 26, 2026

THHYX (Toews Tactical Income Fund) and BCAAX (BrandywineGLOBAL - Corporate Credit Fund) are both High Yield Bonds funds. Over the past 3 years, THHYX returned 4.97%/yr vs 7.20%/yr for BCAAX. A 0.50 correlation means they provide meaningful diversification when combined. THHYX charges 1.46%/yr vs 0.86%/yr for BCAAX.

Performance

THHYX vs. BCAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Toews Tactical Income Fund (THHYX) and BrandywineGLOBAL - Corporate Credit Fund (BCAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THHYX achieves a 0.38% return, which is significantly higher than BCAAX's 0.04% return.

THHYX

• 1D: 0.00%
• 1M: 0.16%
• YTD: 0.38%
• 6M: 0.38%
• 1Y: 2.95%
• 3Y*: 4.97%
• 5Y*: 1.40%
• 10Y*: 2.78%

BCAAX

• 1D: 0.10%
• 1M: 0.29%
• YTD: 0.04%
• 6M: 0.65%
• 1Y: 3.80%
• 3Y*: 7.20%
• 5Y*: —
• 10Y*: —

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

THHYX vs. BCAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
THHYX Toews Tactical Income Fund	0.38%	3.44%	5.48%	4.51%	-5.33%	-0.93%
BCAAX BrandywineGLOBAL - Corporate Credit Fund	0.04%	5.27%	8.92%	11.47%	-9.47%	1.04%

Correlation

The correlation between THHYX and BCAAX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.50

The correlation between THHYX and BCAAX shifts across timeframes, from 0.50 (all time) to 0.63 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

THHYX vs. BCAAX — Risk / Return Rank

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

THHYX

THHYX Risk / Return Rank: 34
THHYX Sharpe Ratio Rank: 24
THHYX Sortino Ratio Rank: 25
THHYX Omega Ratio Rank: 26
THHYX Calmar Ratio Rank: 64
THHYX Martin Ratio Rank: 29

BCAAX

BCAAX Risk / Return Rank: 35
BCAAX Sharpe Ratio Rank: 31
BCAAX Sortino Ratio Rank: 45
BCAAX Omega Ratio Rank: 43
BCAAX Calmar Ratio Rank: 25
BCAAX Martin Ratio Rank: 34

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.

THHYX vs. BCAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Toews Tactical Income Fund (THHYX) and BrandywineGLOBAL - Corporate Credit Fund (BCAAX). 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.

	THHYX	BCAAX	Difference
Sharpe ratio: Return per unit of total volatility	1.16	1.34	-0.18
Sortino ratio: Return per unit of downside risk	1.74	2.33	-0.58
Omega ratio: Gain probability vs. loss probability	1.22	1.29	-0.07
Calmar ratio: Return relative to maximum drawdown	2.64	1.54	+1.10
Martin ratio: Return relative to average drawdown	5.65	6.61	-0.96

THHYX vs. BCAAX - Sharpe Ratio Comparison

The current THHYX Sharpe Ratio is 1.16, which is comparable to the BCAAX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of THHYX and BCAAX, 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

THHYX vs. BCAAX - Drawdown Comparison

The maximum THHYX drawdown since its inception was -8.83%, smaller than the maximum BCAAX drawdown of -13.21%. Use the drawdown chart below to compare losses from any high point for THHYX and BCAAX.

Drawdown Indicators

	THHYX	BCAAX	Difference
Max Drawdown Largest peak-to-trough decline	-8.83%	-13.21%	+4.38%
Max Drawdown (1Y) Largest decline over 1 year	-1.12%	-2.48%	+1.36%
Max Drawdown (3Y) Largest decline over 3 years	-3.35%	-3.71%	+0.36%
Max Drawdown (5Y) Largest decline over 5 years	-8.83%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-8.83%	—	—
Current Drawdown Current decline from peak	-0.60%	-0.29%	-0.31%
Average Drawdown Average peak-to-trough decline	-1.62%	-2.97%	+1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	0.58%	-0.06%

Volatility

THHYX vs. BCAAX - Volatility Comparison

Toews Tactical Income Fund (THHYX) has a higher volatility of 0.85% compared to BrandywineGLOBAL - Corporate Credit Fund (BCAAX) at 0.68%. This indicates that THHYX's price experiences larger fluctuations and is considered to be riskier than BCAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THHYX	BCAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.85%	0.68%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	1.70%	2.22%	-0.52%
Volatility (1Y) Calculated over the trailing 1-year period	2.57%	2.86%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.93%	4.02%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.63%	4.02%	-0.39%

THHYX vs. BCAAX - Expense Ratio Comparison

THHYX has a 1.46% expense ratio, which is higher than BCAAX's 0.86% expense ratio.

Dividends

THHYX vs. BCAAX - Dividend Comparison

THHYX's dividend yield for the trailing twelve months is around 5.43%, less than BCAAX's 5.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCAAX BrandywineGLOBAL - Corporate Credit Fund	5.62%	6.27%	6.87%	4.68%	4.99%	3.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
THHYX Toews Tactical Income Fund	5.43%	4.91%	5.44%	4.33%	1.61%	2.79%	2.21%	3.84%	2.43%	6.56%	3.30%	1.59%

Frequently Asked Questions

Can I hold both THHYX and BCAAX in my portfolio?

THHYX and BCAAX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THHYX or BCAAX?

THHYX has higher volatility (0.85%) compared to BCAAX (0.68%). In terms of maximum drawdown, THHYX dropped -8.83% vs BCAAX's -13.21%.

Which has better risk-adjusted returns?

BCAAX currently has the higher Sharpe Ratio (1.34 vs 1.16), 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.