VWEAX vs. SHOYX

Last updated Jun 4, 2026

VWEAX (Vanguard High-Yield Corporate Fund Admiral Shares) and SHOYX (American Beacon SiM High Yield Opportunities Fund Class Y) are both High Yield Bonds funds. Over the past 10 years, VWEAX returned 5.26%/yr vs 6.32%/yr for SHOYX. A 0.76 correlation means they provide meaningful diversification when combined. VWEAX charges 0.13%/yr vs 0.75%/yr for SHOYX.

Performance

VWEAX vs. SHOYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) and American Beacon SiM High Yield Opportunities Fund Class Y (SHOYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWEAX achieves a 1.20% return, which is significantly lower than SHOYX's 2.27% return. Over the past 10 years, VWEAX has underperformed SHOYX with an annualized return of 5.26%, while SHOYX has yielded a comparatively higher 6.32% annualized return.

VWEAX

• 1D: 0.00%
• 1M: 0.54%
• YTD: 1.20%
• 6M: 1.91%
• 1Y: 7.12%
• 3Y*: 8.28%
• 5Y*: 4.19%
• 10Y*: 5.26%

SHOYX

• 1D: 0.00%
• 1M: 0.07%
• YTD: 2.27%
• 6M: 2.87%
• 1Y: 10.13%
• 3Y*: 9.05%
• 5Y*: 4.97%
• 10Y*: 6.32%

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

VWEAX vs. SHOYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares	1.20%	9.49%	6.42%	11.79%	-8.95%	3.04%	5.41%	15.92%	-2.80%	7.17%
SHOYX American Beacon SiM High Yield Opportunities Fund Class Y	2.27%	9.52%	8.69%	11.30%	-8.20%	8.82%	6.49%	12.34%	-1.20%	7.32%

Correlation

The correlation between VWEAX and SHOYX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012	0.76

The correlation between VWEAX and SHOYX has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.

Return for Risk

VWEAX vs. SHOYX — Risk / Return Rank

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

VWEAX

VWEAX Risk / Return Rank: 70
VWEAX Sharpe Ratio Rank: 56
VWEAX Sortino Ratio Rank: 81
VWEAX Omega Ratio Rank: 83
VWEAX Calmar Ratio Rank: 55
VWEAX Martin Ratio Rank: 77

SHOYX

SHOYX Risk / Return Rank: 96
SHOYX Sharpe Ratio Rank: 97
SHOYX Sortino Ratio Rank: 98
SHOYX Omega Ratio Rank: 97
SHOYX Calmar Ratio Rank: 93
SHOYX Martin Ratio Rank: 97

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.

VWEAX vs. SHOYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) and American Beacon SiM High Yield Opportunities Fund Class Y (SHOYX). 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.

	VWEAX	SHOYX	Difference
Sharpe ratio: Return per unit of total volatility	2.20	3.62	-1.42
Sortino ratio: Return per unit of downside risk	3.81	6.74	-2.93
Omega ratio: Gain probability vs. loss probability	1.55	1.95	-0.40
Calmar ratio: Return relative to maximum drawdown	2.83	5.16	-2.32
Martin ratio: Return relative to average drawdown	14.47	26.52	-12.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWEAX vs. SHOYX - Sharpe Ratio Comparison

The current VWEAX Sharpe Ratio is 2.20, which is lower than the SHOYX Sharpe Ratio of 3.62. The chart below compares the historical Sharpe Ratios of VWEAX and SHOYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VWEAX	SHOYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	3.62	-1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	1.16	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.00	1.24	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	1.40	-0.17

Drawdowns

VWEAX vs. SHOYX - Drawdown Comparison

The maximum VWEAX drawdown since its inception was -30.05%, which is greater than SHOYX's maximum drawdown of -24.66%. Use the drawdown chart below to compare losses from any high point for VWEAX and SHOYX.

Drawdown Indicators

	VWEAX	SHOYX	Difference
Max Drawdown Largest peak-to-trough decline	-30.05%	-24.66%	-5.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	-2.00%	-0.52%
Max Drawdown (3Y) Largest decline over 3 years	-3.32%	-3.67%	+0.35%
Max Drawdown (5Y) Largest decline over 5 years	-13.77%	-12.31%	-1.46%
Max Drawdown (10Y) Largest decline over 10 years	-19.68%	-24.66%	+4.98%
Current Drawdown Current decline from peak	0.00%	-0.11%	+0.11%
Average Drawdown Average peak-to-trough decline	-2.12%	-1.88%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	0.39%	+0.10%

Volatility

VWEAX vs. SHOYX - Volatility Comparison

Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) has a higher volatility of 0.98% compared to American Beacon SiM High Yield Opportunities Fund Class Y (SHOYX) at 0.78%. This indicates that VWEAX's price experiences larger fluctuations and is considered to be riskier than SHOYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWEAX	SHOYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.98%	0.78%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	2.56%	2.08%	+0.48%
Volatility (1Y) Calculated over the trailing 1-year period	3.25%	2.84%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.91%	4.32%	+0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.28%	5.12%	+0.16%

VWEAX vs. SHOYX - Expense Ratio Comparison

VWEAX has a 0.13% expense ratio, which is lower than SHOYX's 0.75% expense ratio.

Dividends

VWEAX vs. SHOYX - Dividend Comparison

VWEAX's dividend yield for the trailing twelve months is around 6.36%, more than SHOYX's 6.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHOYX American Beacon SiM High Yield Opportunities Fund Class Y	6.28%	6.97%	5.67%	5.62%	4.38%	5.43%	6.30%	6.17%	6.36%	5.79%	6.63%	5.19%
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares	6.36%	6.25%	6.20%	5.79%	5.21%	3.49%	4.71%	5.33%	6.07%	5.39%	5.51%	6.53%

Frequently Asked Questions

Can I hold both VWEAX and SHOYX in my portfolio?

VWEAX and SHOYX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWEAX or SHOYX?

VWEAX has higher volatility (0.98%) compared to SHOYX (0.78%). In terms of maximum drawdown, VWEAX dropped -30.05% vs SHOYX's -24.66%.

Which has better risk-adjusted returns?

SHOYX currently has the higher Sharpe Ratio (3.62 vs 2.20), 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.