WEA vs. MHELX
WEA (Western Asset Premier Bond Fund) and MHELX (MH Elite Small Cap Fund of Funds Fund) are both Diversified Portfolio funds. Over the past 10 years, WEA returned 4.47%/yr vs 9.58%/yr for MHELX. At a 0.18 correlation, their price movements are largely independent.
Performance
WEA vs. MHELX - Performance Comparison
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Returns By Period
In the year-to-date period, WEA achieves a -0.73% return, which is significantly lower than MHELX's 20.86% return. Over the past 10 years, WEA has underperformed MHELX with an annualized return of 4.47%, while MHELX has yielded a comparatively higher 9.58% annualized return.
WEA
- 1D
- 0.00%
- 1M
- 1.39%
- YTD
- -0.73%
- 6M
- -0.55%
- 1Y
- 5.81%
- 3Y*
- 9.48%
- 5Y*
- 0.93%
- 10Y*
- 4.47%
MHELX
- 1D
- 0.50%
- 1M
- 4.53%
- YTD
- 20.86%
- 6M
- 19.40%
- 1Y
- 37.71%
- 3Y*
- 16.10%
- 5Y*
- 5.13%
- 10Y*
- 9.58%
WEA vs. MHELX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WEA Western Asset Premier Bond Fund | -0.73% | 10.59% | 7.73% | 9.58% | -20.24% | 6.88% | 2.75% | 28.46% | -6.88% | 13.60% |
MHELX MH Elite Small Cap Fund of Funds Fund | 20.86% | 3.45% | 12.51% | 16.30% | -20.27% | 14.07% | 20.57% | 22.49% | -12.76% | 12.42% |
Correlation
The correlation between WEA and MHELX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2002 | 0.18 |
The correlation between WEA and MHELX shifts across timeframes, from 0.09 (3 years) to 0.22 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
WEA vs. MHELX — Risk / Return Rank
WEA
MHELX
WEA vs. MHELX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Premier Bond Fund (WEA) and MH Elite Small Cap Fund of Funds Fund (MHELX). 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.
| WEA | MHELX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.39 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 4.80 | -3.98 |
| Martin ratioReturn relative to average drawdown | 2.31 | 16.13 | -13.82 |
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Drawdowns
WEA vs. MHELX - Drawdown Comparison
The maximum WEA drawdown since its inception was -57.76%, smaller than the maximum MHELX drawdown of -61.24%. Use the drawdown chart below to compare losses from any high point for WEA and MHELX.
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Drawdown Indicators
| WEA | MHELX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.76% | -61.24% | +3.48% |
Max Drawdown (1Y)Largest decline over 1 year | -7.07% | -8.52% | +1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -11.96% | -30.81% | +18.85% |
Max Drawdown (5Y)Largest decline over 5 years | -30.31% | -32.01% | +1.70% |
Max Drawdown (10Y)Largest decline over 10 years | -37.82% | -39.02% | +1.20% |
Current DrawdownCurrent decline from peak | -3.27% | 0.00% | -3.27% |
Average DrawdownAverage peak-to-trough decline | -7.01% | -12.91% | +5.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 2.53% | -0.01% |
Volatility
WEA vs. MHELX - Volatility Comparison
The current volatility for Western Asset Premier Bond Fund (WEA) is 1.79%, while MH Elite Small Cap Fund of Funds Fund (MHELX) has a volatility of 5.62%. This indicates that WEA experiences smaller price fluctuations and is considered to be less risky than MHELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WEA | MHELX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 5.62% | -3.83% |
Volatility (6M)Calculated over the trailing 6-month period | 6.25% | 15.78% | -9.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.07% | 19.69% | -11.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.52% | 21.09% | -7.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.01% | 20.98% | -6.97% |
Dividends
WEA vs. MHELX - Dividend Comparison
WEA's dividend yield for the trailing twelve months is around 7.98%, more than MHELX's 5.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MHELX MH Elite Small Cap Fund of Funds Fund | 5.97% | 0.00% | 2.19% | 0.00% | 14.45% | 5.03% | 2.70% | 6.13% | 0.00% | 5.17% | 5.51% | 6.93% |
WEA Western Asset Premier Bond Fund | 7.98% | 7.62% | 7.80% | 7.44% | 7.44% | 5.53% | 5.59% | 5.37% | 6.49% | 6.26% | 7.93% | 8.88% |
Frequently Asked Questions
WEA and MHELX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MHELX has higher volatility (5.62%) compared to WEA (1.79%). In terms of maximum drawdown, WEA dropped -57.76% vs MHELX's -61.24%.
MHELX currently has the higher Sharpe Ratio (2.08 vs 0.72), 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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