HYI vs UNIY
Western Asset High Yield Defined Opportunity Fund Inc. vs WisdomTree Voya Yield Enhanced USD Universal Bond Fund
Which is better, HYI or UNIY?
Each has led over a different period.
UNIY has a lower expense ratio. HYI led over 3Y, UNIY over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HYI | UNIY |
|---|---|---|
| Expense Ratio | 0.96% | 0.15%Best |
| AUM | $140M | $1.3B |
| Dividend Yield | 10.36% | 5.06% |
| Holdings | 258 | 6,627 |
| YTD Return | -6.61% | -2.08%Best |
| 1Y Return | -6.95% | -1.93%Best |
| 3Y Return (annualized) | +4.97%Best | +4.82% |
| 5Y Return (annualized) | -0.55% | - |
| Volatility (annualized) | 8.0% | 5.3%Best |
| Max Drawdown | -14.6% | -6.3%Best |
| $10,000 over 3.7 years | $10,992 | $11,128Best |
| Fund Family | Franklin Templeton Investments (US) | WisdomTree Investments |
| Category | Fixed Income | Fixed Income |
| Style | High Yield Bond | High Yield Bond |
| Inception | Oct 27, 2010 | Feb 7, 2023 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.7 years row, are measured over the window both funds cover: Feb 7, 2023 to Oct 14, 2026 (3.7 years).
HYI vs UNIY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.7 years both funds cover.
HYI vs UNIY Performance
Western Asset High Yield Defined Opportunity Fund Inc. (HYI) is an ETF from Franklin Templeton Investments (US) and WisdomTree Voya Yield Enhanced USD Universal Bond Fund (UNIY) is an ETF from WisdomTree Investments. Over the past year HYI returned -6.95% while UNIY returned -1.93%. Year to date, HYI is down 6.61% versus a loss of 2.08% for UNIY.
Over three years, HYI compounded at +4.97% per year against +4.82% for UNIY. Across the full 4-year window we track, UNIY has the edge at +2.93% annualized vs +2.59%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HYI has been the more volatile fund, with annualized monthly volatility of 8.0% compared with 5.3% for UNIY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.6% for HYI and -6.3% for UNIY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.63. They move together some of the time, and apart the rest.
Fees and Cost Over Time
HYI charges 0.96% per year while UNIY charges 0.15%. On a $10,000 position that is $96 vs $15 annually, a gap of $81 per year that compounds over a long holding period. On income, HYI currently yields 10.36% against 5.06% for UNIY.
Holdings Overlap
We hold position weights for 18 holdings in HYI and 5,275 in UNIY, totalling 3.5% and 64.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 18 positions we hold weights for in HYI and 5,275 in UNIY, against full books of 258 and 6,627.
You are not choosing between two funds in isolation.
Whichever of HYI and UNIY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HYI or UNIY?
HYI has an expense ratio of 0.96% while UNIY charges 0.15%. UNIY is the cheaper option, by $81 a year on a $10,000 investment.
Which performed better, HYI or UNIY?
Over the past year HYI returned -6.95% vs -1.93% for UNIY, so UNIY leads on 1-year performance. Over the longest common window we track (4 years), HYI annualized +2.59% vs +2.93% for UNIY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HYI or UNIY?
HYI has been the more volatile fund at 8.0% annualized versus 5.3% for UNIY. Worst drawdown: HYI -14.6% vs UNIY -6.3%.
Should I hold both HYI and UNIY?
HYI and UNIY have a monthly-return correlation of 0.63, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, HYI or UNIY?
HYI yields 10.36% while UNIY yields 5.06%, so HYI currently pays the higher dividend yield.
Is UNIY better than HYI?
UNIY has a lower expense ratio. HYI led over 3Y, UNIY over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.