HYI vs NAZ

Comparison between Western Asset High Yield Defined Opportunity Fund Inc (HYI, ETF) and Nuveen Arizona Quality Municipal Income Fund (NAZ, ETF).

5-Year PerformanceHYI has outperformed NAZ, delivering a return of +1.7% compared to +0.8%

HYI vs NAZ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HYI(ETF)	NAZ(ETF)
Net Assets	$149M	$149M
Max Drawdown	48.50%	48.77%
Sharpe Ratio	-0.63	1.24
5Y Beta	0.24	0.11
5Y Dividends CAGR	1.72%	8.31%

Net Assets

HYI

$149M

NAZ

$149M

Max Drawdown

Winner

HYI

48.50%

NAZ

48.77%

Sharpe Ratio

HYI

-0.63

Winner

NAZ

1.24

5Y Beta

HYI

0.24

Winner

NAZ

0.11

5Y Dividends CAGR

HYI

1.72%

Winner

NAZ

8.31%

HYI vs NAZ - Historical Returns

Returns include dividend reinvestment.

Period	HYI	NAZ
1 month	+0.29%	+2.48%
3 months	+0.52%	+6.72%
6 months	+1.53%	+12.39%
1 year	-0.86%	+18.99%
5 years(CAGR)	+1.75%	+0.77%
10 years(CAGR)	+5.35%	+2.54%
Max(CAGR)	+4.62%	+4.43%

HYI

+0.29%

Winner

NAZ

+2.48%

HYI

+0.52%

Winner

NAZ

+6.72%

HYI

+1.53%

Winner

NAZ

+12.39%

HYI

-0.86%

Winner

NAZ

+18.99%

5Y(CAGR)

Winner

HYI

+1.75%

NAZ

+0.77%

10Y(CAGR)

Winner

HYI

+5.35%

NAZ

+2.54%

Max(CAGR)

Winner

HYI

+4.62%

NAZ

+4.43%

HYI vs NAZ - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	HYI	NAZ
2026	-0.51%	+12.15%
2025	+3.47%	+11.54%
2024	+7.19%	+12.88%
2023	+7.84%	-1.90%
2022	-13.47%	-27.11%
2021	+10.82%	+5.02%
2020	+7.09%	+22.04%
2019	+26.70%	+16.46%
2018	-6.90%	-12.82%
2017	+8.07%	+5.58%
2016	+17.18%	-3.17%
2015	-2.30%	+11.35%
2014	-4.39%	+25.72%
2013	+3.50%	-16.80%
2012	+18.60%	+14.38%
2011	-0.27%	+17.63%
2010	-7.98%	+3.58%
2009	N/A	+40.86%
2008	N/A	-22.86%
2007	N/A	-4.82%
2006	N/A	-0.29%
2005	N/A	-0.39%
2004	N/A	+0.02%
2003	N/A	+11.61%
2002	N/A	+0.75%
2001	N/A	+6.83%
2000	N/A	+15.21%
1999	N/A	-9.75%

HYI vs NAZ Drawdown Comparison

The maximum drawdown for HYI was -36.03%, occurring on Mar 23, 2020. Recovery took 197 trading sessions.

The maximum drawdown for NAZ was -38.28%, occurring on Oct 25, 2023. Recovery took 1109 trading sessions.

The current HYI drawdown is -5.12%. The current NAZ drawdown is -2.48%.

Rank	HYI	NAZ
#1	-36.03% Feb 18, 2020 - Nov 25, 2020	-38.28% Nov 9, 2021 - Apr 14, 2026
#2	-26.34% Nov 5, 2021 - Feb 18, 2025	-34.81% Apr 1, 2004 - Sep 22, 2009
#3	-18.70% Jul 8, 2011 - Jan 25, 2012	-28.08% Jul 6, 2016 - Sep 1, 2020
#4	-18.60% Jun 30, 2014 - Jul 11, 2016	-27.21% Jan 28, 2013 - Jan 28, 2015
#5	-10.69% May 15, 2013 - May 8, 2014	-20.06% Oct 29, 2010 - Dec 30, 2011
#6	-10.68% Sep 27, 2012 - Mar 13, 2013	-13.78% Jul 11, 2002 - Jun 12, 2003
#7	-9.67% Oct 17, 2018 - Feb 1, 2019	-13.30% Jul 15, 2003 - Feb 2, 2004
#8	-8.88% Nov 1, 2010 - May 12, 2011	-11.33% Nov 4, 1999 - Dec 11, 2000
#9	-8.19% Sep 16, 2025 - Mar 30, 2026	-6.87% Jan 14, 2010 - Aug 12, 2010
#10	-7.44% Mar 30, 2012 - Jul 9, 2012	-6.81% Dec 4, 2020 - May 28, 2021
#11	-6.52% Sep 30, 2016 - Jan 3, 2017	-5.89% Oct 6, 2009 - Jan 6, 2010
#12	-5.74% Feb 25, 2025 - May 29, 2025	-4.81% Mar 5, 2002 - Apr 23, 2002
#13	-4.59% Oct 13, 2017 - Oct 17, 2018	-4.69% Oct 3, 2012 - Jan 9, 2013
#14	-4.13% Aug 1, 2019 - Sep 18, 2019	-4.65% Feb 2, 2015 - Apr 17, 2015
#15	-4.01% May 3, 2019 - Jun 19, 2019	-4.64% Mar 13, 2012 - Mar 21, 2012

Correlation

Correlation between HYI and NAZ is 0.83 which considered as a strong positive correlation - the stocks tend to move together.

0.83

-101

Dividend Comparison (2000 - 2026)

HYI vs NAZ dividend yield comparison.

Year	HYI	NAZ
2026	4.47%	2.52%
2025	10.22%	7.09%
2024	9.64%	6.20%
2023	9.40%	3.63%
2022	9.09%	5.01%
2021	7.19%	3.75%
2020	7.35%	3.52%
2019	6.87%	3.82%
2018	8.10%	4.52%
2017	7.81%	4.65%
2016	8.73%	5.53%
2015	9.36%	5.25%
2014	8.75%	5.53%
2013	8.98%	6.35%
2012	9.52%	5.01%
2011	10.65%	5.35%
2010	0.80%	5.76%
2009	0.00%	5.11%
2008	0.00%	6.72%
2007	0.00%	4.90%
2006	0.00%	4.62%
2005	0.00%	5.41%
2004	0.00%	5.95%
2003	0.00%	5.68%
2002	0.00%	5.93%
2001	0.00%	5.35%
2000	0.00%	2.21%