TSI vs. HYDB

Last updated Apr 1, 2026

Compare and contrast key facts about TCW Strategic Income Fund Inc. (TSI) and iShares High Yield Bond Factor ETF (HYDB).

TSI is managed by TCW. HYDB is a passively managed fund by iShares that tracks the performance of the BlackRock High Yield Defensive Bond Index. It was launched on Jul 11, 2017.

Performance

TSI vs. HYDB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Strategic Income Fund Inc. (TSI) and iShares High Yield Bond Factor ETF (HYDB). The values are adjusted to include any dividend payments, if applicable.

TSI vs. HYDB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TSI TCW Strategic Income Fund Inc.	-7.86%	9.72%	13.45%	7.13%	-14.33%	8.08%	3.77%	17.97%	-3.83%	8.04%
HYDB iShares High Yield Bond Factor ETF	-0.64%	8.10%	9.11%	14.02%	-9.99%	5.14%	7.39%	16.13%	-3.18%	3.38%

Returns By Period

In the year-to-date period, TSI achieves a -7.86% return, which is significantly lower than HYDB's -0.64% return.

TSI

• 1D: 0.45%
• 1M: -4.02%
• YTD: -7.86%
• 6M: -5.00%
• 1Y: -1.27%
• 3Y*: 6.20%
• 5Y*: 2.49%
• 10Y*: 5.28%

HYDB

• 1D: 0.95%
• 1M: -1.56%
• YTD: -0.64%
• 6M: 0.62%
• 1Y: 6.05%
• 3Y*: 8.82%
• 5Y*: 4.50%
• 10Y*: —

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

TSI vs. HYDB - Expense Ratio Comparison

HYDB

iShares High Yield Bond Factor ETF

Return for Risk

TSI vs. HYDB — Risk / Return Rank

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

TSI

TSI Risk / Return Rank: 4
TSI Sharpe Ratio Rank: 3
TSI Sortino Ratio Rank: 3
TSI Omega Ratio Rank: 3
TSI Calmar Ratio Rank: 5
TSI Martin Ratio Rank: 5

HYDB

HYDB Risk / Return Rank: 61
HYDB Sharpe Ratio Rank: 61
HYDB Sortino Ratio Rank: 60
HYDB Omega Ratio Rank: 68
HYDB Calmar Ratio Rank: 54
HYDB Martin Ratio Rank: 65

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.

TSI vs. HYDB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Strategic Income Fund Inc. (TSI) and iShares High Yield Bond Factor ETF (HYDB). 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.

	TSI	HYDB	Difference
Sharpe ratio Return per unit of total volatility	-0.14	1.03	-1.17
Sortino ratio Return per unit of downside risk	-0.12	1.48	-1.60
Omega ratio Gain probability vs. loss probability	0.98	1.24	-0.26
Calmar ratio Return relative to maximum drawdown	-0.07	1.28	-1.34
Martin ratio Return relative to average drawdown	-0.25	6.19	-6.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSI vs. HYDB - Sharpe Ratio Comparison

The current TSI Sharpe Ratio is -0.14, which is lower than the HYDB Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of TSI and HYDB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TSI	HYDB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.14	1.03	-1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.64	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.69	-0.22

Correlation

The correlation between TSI and HYDB is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TSI vs. HYDB - Dividend Comparison

TSI's dividend yield for the trailing twelve months is around 7.24%, which matches HYDB's 7.20% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TSI TCW Strategic Income Fund Inc.	7.24%	6.58%	8.00%	7.73%	7.00%	6.36%	4.83%	7.39%	7.07%	5.36%	5.21%	4.08%
HYDB iShares High Yield Bond Factor ETF	7.20%	7.04%	6.95%	7.00%	6.30%	4.70%	5.81%	5.68%	6.16%	2.70%	0.00%	0.00%

Drawdowns

TSI vs. HYDB - Drawdown Comparison

The maximum TSI drawdown since its inception was -60.35%, which is greater than HYDB's maximum drawdown of -21.58%. Use the drawdown chart below to compare losses from any high point for TSI and HYDB.

Drawdown Indicators

	TSI	HYDB	Difference
Max Drawdown Largest peak-to-trough decline	-60.35%	-21.58%	-38.77%
Max Drawdown (1Y) Largest decline over 1 year	-8.30%	-4.84%	-3.46%
Max Drawdown (5Y) Largest decline over 5 years	-18.56%	-14.28%	-4.28%
Max Drawdown (10Y) Largest decline over 10 years	-30.00%	—	—
Current Drawdown Current decline from peak	-7.89%	-1.80%	-6.09%
Average Drawdown Average peak-to-trough decline	-7.70%	-2.43%	-5.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	1.00%	+1.20%

Volatility

TSI vs. HYDB - Volatility Comparison

TCW Strategic Income Fund Inc. (TSI) has a higher volatility of 4.87% compared to iShares High Yield Bond Factor ETF (HYDB) at 2.22%. This indicates that TSI's price experiences larger fluctuations and is considered to be riskier than HYDB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSI	HYDB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	2.22%	+2.65%
Volatility (6M) Calculated over the trailing 6-month period	7.31%	2.91%	+4.40%
Volatility (1Y) Calculated over the trailing 1-year period	9.21%	5.89%	+3.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.03%	7.02%	+4.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.07%	7.82%	+6.25%