- Issuer
- TCW
- Inception Date
- Nov 18, 2024
- Region
- Global (Broad)
- Category
- High Yield Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $32M
Share Price Chart
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Performance
HYBX Performance Chart
TCW High Yield Bond ETF (HYBX) is up 2.0% since the beginning of the year. HYBX is currently trading at $30 per share.
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Returns By Period
TCW High Yield Bond ETF (HYBX) has returned 2.01% so far this year and 5.34% over the past 12 months.
TCW High Yield Bond ETF
- 1D
- -0.40%
- 1M
- -0.59%
- YTD
- 2.01%
- 6M
- 1.87%
- 1Y
- 5.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.25%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- 24.32%
- 3Y*
- 19.90%
- 5Y*
- 11.79%
- 10Y*
- 13.33%
HYBX Monthly Returns History
Based on dividend-adjusted daily data since Nov 18, 2024, HYBX's average daily return is +0.02%, while the average monthly return is +0.39%. At this rate, an investment would double in approximately 14.8 years.
Historically, 60% of months were positive and 40% were negative. The best month was Jun 2025 with a return of +2.1%, while the worst month was Mar 2025 at -1.1%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 2 months.
On a daily basis, HYBX closed higher 51% of trading days. The best single day was Mar 21, 2025 with a return of +2.9%, while the worst single day was Mar 20, 2025 at -2.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.00% | -0.13% | -0.44% | 1.87% | 0.37% | -0.66% | 2.01% | ||||||
| 2025 | 0.86% | 1.03% | -1.05% | 0.26% | 0.94% | 2.05% | 0.17% | 0.87% | 0.77% | -0.33% | 1.06% | -0.50% | 6.26% |
| 2024 | -0.26% | -0.01% | -0.26% |
Benchmark Metrics
TCW High Yield Bond ETF has an annualized alpha of 2.82%, beta of 0.16, and R2 of 0.13 versus S&P 500 Index. Calculated based on daily prices since November 19, 2024.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (18.69%) than losses (8.84%) - typical of diversified or defensive assets.
- Beta of 0.16 may look defensive, but with R2 of 0.13 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.13 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.82%
- Beta
- 0.16
- R²
- 0.13
- Upside Capture
- 18.69%
- Downside Capture
- 8.84%
Expense Ratio
HYBX has an expense ratio of 0.50%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HYBX ranks 37 for risk / return — below 37% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for TCW High Yield Bond ETF (HYBX) and compare them to S&P 500 Index.
| HYBX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.36 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | 2.69 | -0.20 |
| Martin ratioReturn relative to average drawdown | 8.05 | 12.34 | -4.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
TCW High Yield Bond ETF provided a 7.75% dividend yield over the last twelve months, with an annual payout of $2.29 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $2.29 | $2.34 | $0.33 |
Dividend yield | 7.75% | 7.82% | 1.08% |
Monthly Dividends
The table displays the monthly dividend distributions for TCW High Yield Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.19 | $0.19 | $0.19 | $0.19 | $0.19 | $0.95 | ||||||
| 2025 | $0.00 | $0.20 | $0.21 | $0.25 | $0.18 | $0.16 | $0.16 | $0.17 | $0.17 | $0.19 | $0.22 | $0.43 | $2.34 |
| 2024 | $0.33 | $0.33 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the TCW High Yield Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the TCW High Yield Bond ETF was 3.93%, occurring on Apr 8, 2025. Recovery took 23 trading sessions.
The current TCW High Yield Bond ETF drawdown is 0.93%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -3.93%Apr 2025 | 1mo 6d | 1mo 4d | 2mo 10dMar 2025 - May 2025 |
2026 pullback2026 | -2.15%Mar 2026 | 2mo 1d | 9d | 2mo 10dJan 2026 - Apr 2026 |
2025 pullback2025 | -1.76%Dec 2025 | 1mo 14d | 7d | 1mo 21dOct 2025 - Dec 2025 |
2025 pullback2025 | -1.72%Jan 2025 | 1mo 2d | 14d | 1mo 16dDec 2024 - Jan 2025 |
2025 pullback2025 | -1.49%Aug 2025 | 7d | 12d | 19dAug 2025 - Sep 2025 |
Drawdown Indicators
| HYBX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.93% | -56.78% | +52.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.15% | -9.10% | +6.95% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.93% | -2.97% | +2.04% |
Average DrawdownAverage peak-to-trough decline | -0.57% | -10.72% | +10.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 1.97% | -1.31% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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