WFHY vs. PSH

Last updated Jun 5, 2026

WFHY (WisdomTree U.S. High Yield Corporate Bond Fund) and PSH (PGIM Short Duration High Yield ETF) are both High Yield Bonds funds. WFHY is passively managed, while PSH is actively managed. Over the past year, WFHY returned 7.04% vs 6.25% for PSH. A 0.77 correlation means they provide meaningful diversification when combined. WFHY charges 0.38%/yr vs 0.45%/yr for PSH.

Performance

WFHY vs. PSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. High Yield Corporate Bond Fund (WFHY) and PGIM Short Duration High Yield ETF (PSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WFHY achieves a 1.51% return, which is significantly lower than PSH's 2.02% 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%

PSH

• 1D: 0.14%
• 1M: 0.17%
• YTD: 2.02%
• 6M: 2.56%
• 1Y: 6.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WFHY vs. PSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WFHY WisdomTree U.S. High Yield Corporate Bond Fund	1.51%	9.61%	5.92%	0.28%
PSH PGIM Short Duration High Yield ETF	2.02%	7.34%	7.96%	0.38%

Correlation

The correlation between WFHY and PSH is 0.69, 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	0.69
Correlation (All Time) Calculated using the full available price history since Dec 20, 2023	0.77

The correlation between WFHY and PSH has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

Return for Risk

WFHY vs. PSH — Risk / Return Rank

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

WFHY

WFHY Risk / Return Rank: 61
WFHY Sharpe Ratio Rank: 59
WFHY Sortino Ratio Rank: 64
WFHY Omega Ratio Rank: 64
WFHY Calmar Ratio Rank: 53
WFHY Martin Ratio Rank: 65

PSH

PSH Risk / Return Rank: 73
PSH Sharpe Ratio Rank: 63
PSH Sortino Ratio Rank: 73
PSH Omega Ratio Rank: 75
PSH Calmar Ratio Rank: 83
PSH Martin Ratio Rank: 72

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.

WFHY vs. PSH - 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 PGIM Short Duration High Yield ETF (PSH). 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	PSH	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.08	-0.14
Sortino ratio: Return per unit of downside risk	2.95	3.26	-0.31
Omega ratio: Gain probability vs. loss probability	1.38	1.44	-0.06
Calmar ratio: Return relative to maximum drawdown	2.55	4.43	-1.87
Martin ratio: Return relative to average drawdown	11.61	13.10	-1.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WFHY vs. PSH - Sharpe Ratio Comparison

The current WFHY Sharpe Ratio is 1.95, which is comparable to the PSH Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of WFHY and PSH, 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

	WFHY	PSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	2.08	-0.14
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	2.23	-1.61

Drawdowns

WFHY vs. PSH - Drawdown Comparison

The maximum WFHY drawdown since its inception was -22.74%, which is greater than PSH's maximum drawdown of -3.06%. Use the drawdown chart below to compare losses from any high point for WFHY and PSH.

Drawdown Indicators

	WFHY	PSH	Difference
Max Drawdown Largest peak-to-trough decline	-22.74%	-3.06%	-19.68%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	-1.42%	-1.35%
Max Drawdown (3Y) Largest decline over 3 years	-4.58%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.21%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-22.74%	—	—
Current Drawdown Current decline from peak	-0.03%	-0.02%	-0.01%
Average Drawdown Average peak-to-trough decline	-2.75%	-0.26%	-2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	0.48%	+0.13%

Volatility

WFHY vs. PSH - Volatility Comparison

WisdomTree U.S. High Yield Corporate Bond Fund (WFHY) has a higher volatility of 1.07% compared to PGIM Short Duration High Yield ETF (PSH) at 0.70%. This indicates that WFHY's price experiences larger fluctuations and is considered to be riskier than PSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WFHY	PSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	0.70%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	2.86%	2.10%	+0.76%
Volatility (1Y) Calculated over the trailing 1-year period	3.64%	3.01%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.57%	3.26%	+4.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.20%	3.26%	+4.94%

WFHY vs. PSH - Expense Ratio Comparison

WFHY has a 0.38% expense ratio, which is lower than PSH's 0.45% expense ratio.

Dividends

WFHY vs. PSH - Dividend Comparison

WFHY's dividend yield for the trailing twelve months is around 6.25%, less than PSH's 6.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PSH PGIM Short Duration High Yield ETF	6.66%	6.62%	8.35%	0.00%	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

Can I hold both WFHY and PSH in my portfolio?

WFHY and PSH have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WFHY or PSH?

WFHY has higher volatility (1.07%) compared to PSH (0.70%). In terms of maximum drawdown, WFHY dropped -22.74% vs PSH's -3.06%.

Which ETF is better, WFHY or PSH?

On 1-year performance, WFHY leads with 7.04% vs 6.25% for PSH. On fees, WFHY is cheaper at 0.38% per year. On volatility, PSH has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WFHY or PSH?

Over the 1-year period, WFHY has performed better with a 7.04% return vs 6.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WFHY or PSH?

WFHY is cheaper with a 0.38% expense ratio, compared with 0.45% for PSH.

Which ETF pays a higher dividend yield, WFHY or PSH?

PSH has the higher dividend yield at 6.66%, compared with 6.25% for WFHY.

What is the main difference between WFHY and PSH?

They also come from different issuers: WisdomTree and PGIM. Their fees differ too: 0.38% for WFHY and 0.45% for PSH.

Which has better risk-adjusted returns?

PSH currently has the higher Sharpe Ratio (2.08 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.