WFHY vs. PHYD
WFHY (WisdomTree U.S. High Yield Corporate Bond Fund) and PHYD (Putnam ESG High Yield ETF -) are both High Yield Bonds funds. WFHY is passively managed, while PHYD is actively managed. Over the past 3 years, WFHY returned 8.17%/yr vs 8.82%/yr for PHYD. Their correlation of 0.82 suggests significant overlap in exposure. WFHY charges 0.38%/yr vs 0.55%/yr for PHYD.
Performance
WFHY vs. PHYD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, WFHY achieves a 1.51% return, which is significantly lower than PHYD's 2.49% return.
WFHY
- 1D
- 0.05%
- 1M
- 0.46%
- YTD
- 1.51%
- 6M
- 1.74%
- 1Y
- 7.04%
- 3Y*
- 8.17%
- 5Y*
- 3.22%
- 10Y*
- 4.96%
PHYD
- 1D
- 0.32%
- 1M
- -0.14%
- YTD
- 2.49%
- 6M
- 3.00%
- 1Y
- 7.97%
- 3Y*
- 8.82%
- 5Y*
- —
- 10Y*
- —
WFHY vs. PHYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
WFHY WisdomTree U.S. High Yield Corporate Bond Fund | 1.51% | 9.61% | 5.92% | 6.13% |
PHYD Putnam ESG High Yield ETF - | 2.49% | 8.84% | 7.35% | 8.07% |
Correlation
The correlation between WFHY and PHYD is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2023 | 0.82 |
The correlation between WFHY and PHYD has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
WFHY vs. PHYD — Risk / Return Rank
WFHY
PHYD
WFHY vs. PHYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. High Yield Corporate Bond Fund (WFHY) and Putnam ESG High Yield ETF - (PHYD). 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.
| WFHY | PHYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.49 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 3.82 | -1.26 |
| Martin ratioReturn relative to average drawdown | 11.61 | 15.70 | -4.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| WFHY | PHYD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.95 | 2.39 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 1.74 | -1.13 |
Drawdowns
WFHY vs. PHYD - Drawdown Comparison
The maximum WFHY drawdown since its inception was -22.74%, which is greater than PHYD's maximum drawdown of -4.33%. Use the drawdown chart below to compare losses from any high point for WFHY and PHYD.
Loading charts...
Drawdown Indicators
| WFHY | PHYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.74% | -4.33% | -18.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -2.10% | -0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -4.58% | -4.14% | -0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -16.21% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.74% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.62% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -2.75% | -0.62% | -2.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 0.51% | +0.10% |
Volatility
WFHY vs. PHYD - Volatility Comparison
WisdomTree U.S. High Yield Corporate Bond Fund (WFHY) and Putnam ESG High Yield ETF - (PHYD) have volatilities of 1.07% and 1.07%, 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.
Loading charts...
Volatility by Period
| WFHY | PHYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.07% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.86% | 2.56% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.64% | 3.35% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.57% | 4.59% | +2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.20% | 4.59% | +3.61% |
WFHY vs. PHYD - Expense Ratio Comparison
WFHY has a 0.38% expense ratio, which is lower than PHYD's 0.55% expense ratio.
Dividends
WFHY vs. PHYD - Dividend Comparison
WFHY's dividend yield for the trailing twelve months is around 6.25%, less than PHYD's 9.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PHYD Putnam ESG High Yield ETF - | 9.02% | 6.63% | 6.80% | 6.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WFHY WisdomTree U.S. High Yield Corporate Bond Fund | 6.25% | 6.26% | 6.40% | 6.11% | 5.44% | 4.09% | 4.80% | 5.21% | 5.93% | 6.47% | 4.39% |
Frequently Asked Questions
WFHY and PHYD have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PHYD has higher volatility (1.07%) compared to WFHY (1.07%). In terms of maximum drawdown, WFHY dropped -22.74% vs PHYD's -4.33%.
On 3-year performance, PHYD leads with 8.82% vs 8.17% for WFHY. On fees, WFHY is cheaper at 0.38% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PHYD has performed better with a 8.82% return vs 8.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WFHY is cheaper with a 0.38% expense ratio, compared with 0.55% for PHYD.
PHYD has the higher dividend yield at 9.02%, compared with 6.25% for WFHY.
They also come from different issuers: WisdomTree and Putnam. Their fees differ too: 0.38% for WFHY and 0.55% for PHYD.
PHYD currently has the higher Sharpe Ratio (2.39 vs 1.95), 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.
Find the right allocation for WFHY and PHYD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer