Western Asset High Yield Defined Opportunity Fund Inc.

Frequently Asked Questions About HYI

What does HYI invest in?

The Western Asset High Yield Defined Opportunity Fund Inc. functions as a closed-end investment vehicle, concentrating its portfolio on fixed-income assets. Its inception and primary oversight are managed by Legg Mason Partners Fund Advisor, LLC. Additionally, a collective of entities including Western Asset Management Company, Western Asset Management Company Pte. Ltd., Western Asset Management Company Ltd, and Western Asset Management Company Limited contribute to its co-management. The fund strategically allocates capital across global fixed-income markets, with a particular focus on high-yielding corporate debt instruments. These securities often possess diverse maturity profiles and are typically categorized as below investment grade. Established on July 20, 2010, the fund is legally based in the United States.

What is the expense ratio of HYI?

Western Asset High Yield Defined Opportunity Fund Inc. (HYI) charges an expense ratio of 0.99%. This is the annual fee deducted from fund assets to cover management and operations.

What is HYI's dividend yield?

HYI's trailing-twelve-month yield is 11.09%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of HYI?

Effective duration measures HYI's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. HYI's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of HYI?

HYI's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of HYI?

Yield to maturity (YTM) is the total return you'd earn from HYI if every bond in the portfolio is held to maturity at the current price. HYI's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.