TYHYX vs. FSHNX
TYHYX (Pioneer High Yield Fund) and FSHNX (Fidelity Series High Income Fund) are both High Yield Bonds funds. Over the past 10 years, TYHYX returned 4.86%/yr vs 6.24%/yr for FSHNX. Their correlation of 0.81 suggests significant overlap in exposure. TYHYX charges 0.85%/yr vs 0.00%/yr for FSHNX.
Performance
TYHYX vs. FSHNX - Performance Comparison
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Returns By Period
In the year-to-date period, TYHYX achieves a 1.73% return, which is significantly lower than FSHNX's 2.99% return. Over the past 10 years, TYHYX has underperformed FSHNX with an annualized return of 4.86%, while FSHNX has yielded a comparatively higher 6.24% annualized return.
TYHYX
- 1D
- 0.00%
- 1M
- 0.39%
- YTD
- 1.73%
- 6M
- 2.33%
- 1Y
- 6.35%
- 3Y*
- 7.34%
- 5Y*
- 2.97%
- 10Y*
- 4.86%
FSHNX
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 2.99%
- 6M
- 3.67%
- 1Y
- 9.50%
- 3Y*
- 10.14%
- 5Y*
- 4.81%
- 10Y*
- 6.24%
TYHYX vs. FSHNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TYHYX Pioneer High Yield Fund | 1.73% | 7.99% | 6.55% | 9.17% | -11.19% | 5.99% | 3.35% | 14.36% | -3.30% | 7.87% |
FSHNX Fidelity Series High Income Fund | 2.99% | 11.17% | 8.75% | 11.25% | -11.52% | 6.05% | 4.57% | 15.20% | -2.14% | 9.40% |
Correlation
The correlation between TYHYX and FSHNX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 14, 2011 | 0.81 |
The correlation between TYHYX and FSHNX has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.
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Return for Risk
TYHYX vs. FSHNX — Risk / Return Rank
TYHYX
FSHNX
TYHYX vs. FSHNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer High Yield Fund (TYHYX) and Fidelity Series High Income Fund (FSHNX). 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.
| TYHYX | FSHNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.70 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 4.55 | -1.94 |
| Martin ratioReturn relative to average drawdown | 12.77 | 23.41 | -10.65 |
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Drawdowns
TYHYX vs. FSHNX - Drawdown Comparison
The maximum TYHYX drawdown since its inception was -40.86%, which is greater than FSHNX's maximum drawdown of -21.98%. Use the drawdown chart below to compare losses from any high point for TYHYX and FSHNX.
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Drawdown Indicators
| TYHYX | FSHNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.86% | -21.98% | -18.88% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -2.13% | -0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -4.19% | -4.05% | -0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -14.11% | -15.32% | +1.21% |
Max Drawdown (10Y)Largest decline over 10 years | -23.73% | -21.98% | -1.75% |
Current DrawdownCurrent decline from peak | -0.34% | -0.45% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -3.98% | -2.41% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.41% | +0.10% |
Volatility
TYHYX vs. FSHNX - Volatility Comparison
Pioneer High Yield Fund (TYHYX) and Fidelity Series High Income Fund (FSHNX) have volatilities of 0.85% and 0.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYHYX | FSHNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 0.88% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 2.59% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 3.37% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.47% | 5.31% | -0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.20% | 5.81% | -0.61% |
TYHYX vs. FSHNX - Expense Ratio Comparison
TYHYX has a 0.85% expense ratio, which is higher than FSHNX's 0.00% expense ratio.
Dividends
TYHYX vs. FSHNX - Dividend Comparison
TYHYX's dividend yield for the trailing twelve months is around 5.82%, less than FSHNX's 6.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSHNX Fidelity Series High Income Fund | 6.99% | 7.04% | 5.97% | 6.21% | 4.90% | 5.01% | 5.57% | 6.35% | 6.95% | 6.03% | 6.24% | 5.79% |
TYHYX Pioneer High Yield Fund | 5.82% | 5.91% | 4.13% | 4.10% | 5.23% | 4.44% | 5.23% | 5.17% | 5.13% | 4.97% | 5.12% | 6.29% |
Frequently Asked Questions
TYHYX and FSHNX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSHNX has higher volatility (0.88%) compared to TYHYX (0.85%). In terms of maximum drawdown, TYHYX dropped -40.86% vs FSHNX's -21.98%.
FSHNX currently has the higher Sharpe Ratio (2.88 vs 1.94), 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.
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