VWEHX vs. PSHNX
VWEHX (Vanguard High-Yield Corporate Fund Investor Shares) and PSHNX (Penn Capital Short Duration High Income Fund) are both High Yield Bonds funds. Over the past 5 years, VWEHX returned 3.68%/yr vs 4.81%/yr for PSHNX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. VWEHX charges 0.22%/yr vs 1.01%/yr for PSHNX.
Performance
VWEHX vs. PSHNX - Performance Comparison
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Returns By Period
In the year-to-date period, VWEHX achieves a 0.58% return, which is significantly lower than PSHNX's 2.16% return.
VWEHX
- 1D
- -0.18%
- 1M
- -0.91%
- 6M
- 0.24%
- YTD
- 0.58%
- 1Y
- 4.33%
- 3Y*
- 7.53%
- 5Y*
- 3.68%
- 10Y*
- 4.83%
- ALL TIME*
- 4.72%
PSHNX
- 1D
- 0.00%
- 1M
- 0.05%
- 6M
- 1.85%
- YTD
- 2.16%
- 1Y
- 5.54%
- 3Y*
- 7.04%
- 5Y*
- 4.81%
- 10Y*
- —
- ALL TIME*
- 3.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VWEHX vs. PSHNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWEHX Vanguard High-Yield Corporate Fund Investor Shares | 0.58% | 9.38% | 6.33% | 11.66% | -9.04% | 2.97% | 5.30% | 15.81% | -2.93% | 1.61% |
PSHNX Penn Capital Short Duration High Income Fund | 2.16% | 7.72% | 7.19% | 8.72% | -2.26% | 3.43% | 0.88% | 7.40% | 0.61% | 0.65% |
Correlation
The correlation between VWEHX and PSHNX is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2017 | 0.72 |
The correlation between VWEHX and PSHNX shifts across timeframes, from 0.64 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VWEHX vs. PSHNX — Risk / Return Rank
VWEHX
PSHNX
VWEHX vs. PSHNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) and Penn Capital Short Duration High Income Fund (PSHNX). 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.
| VWEHX | PSHNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.69 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 4.67 | -2.94 |
| Martin ratioReturn relative to average drawdown | 8.19 | 23.78 | -15.59 |
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Drawdowns
VWEHX vs. PSHNX - Drawdown Comparison
The maximum VWEHX drawdown since its inception was -30.17%, which is greater than PSHNX's maximum drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for VWEHX and PSHNX.
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Drawdown Indicators
| VWEHX | PSHNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.17% | -14.53% | -15.64% |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | -1.14% | -1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -3.33% | -2.83% | -0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -13.83% | -6.02% | -7.81% |
Max Drawdown (10Y)Largest decline over 10 years | -19.69% | — | — |
Current DrawdownCurrent decline from peak | -1.09% | -0.05% | -1.04% |
Average DrawdownAverage peak-to-trough decline | -4.28% | -0.87% | -3.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 0.22% | +0.31% |
Volatility
VWEHX vs. PSHNX - Volatility Comparison
Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) has a higher volatility of 0.70% compared to Penn Capital Short Duration High Income Fund (PSHNX) at 0.40%. This indicates that VWEHX's price experiences larger fluctuations and is considered to be riskier than PSHNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWEHX | PSHNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 0.40% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 1.49% | +1.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.31% | 1.88% | +1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.92% | 2.65% | +2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.24% | 3.13% | +2.11% |
VWEHX vs. PSHNX - Expense Ratio Comparison
VWEHX has a 0.22% expense ratio, which is lower than PSHNX's 1.01% expense ratio.
Dividends
VWEHX vs. PSHNX - Dividend Comparison
VWEHX's dividend yield for the trailing twelve months is around 5.78%, less than PSHNX's 5.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSHNX Penn Capital Short Duration High Income Fund | 5.97% | 6.27% | 6.43% | 4.95% | 3.47% | 3.17% | 3.95% | 3.65% | 3.13% | 1.46% | 0.00% | 0.00% |
VWEHX Vanguard High-Yield Corporate Fund Investor Shares | 5.78% | 6.15% | 6.11% | 5.68% | 5.11% | 3.43% | 4.62% | 5.24% | 5.94% | 5.29% | 5.41% | 6.42% |
Frequently Asked Questions
VWEHX and PSHNX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VWEHX has higher volatility (0.70%) compared to PSHNX (0.40%). In terms of maximum drawdown, VWEHX dropped -30.17% vs PSHNX's -14.53%.
PSHNX currently has the higher Sharpe Ratio (2.85 vs 1.33), 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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