PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

TCW High Yield Bond ETF (HYBX) Sharpe Ratio: 0.81

ETF · Currency in USD · Last updated Jun 6, 2026

The TCW High Yield Bond ETF (HYBX) is an actively managed fund that seeks income and above-average total return over a full market cycle by investing in a diversified portfolio of high-yield (below-investment-grade) global government and corporate debt securities. It converted from the TCW High Yield Bond Fund to an ETF in November 2024, offering the same strategy at lower expenses.

HYBX's Sharpe Ratio of 0.81 indicates that for each unit of volatility, it generates 0.81 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 6, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets.

HYBX Sharpe Ratio Rank

HYBX Sharpe Ratio Rank: 25.025
Below Average

HYBX ranks above 25.0% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns may not adequately compensate for volatility taken
  • Consider smaller allocation given below-average risk-adjusted profile
  • Explore higher-ranked investments with better consistency
  • Assess whether the volatility profile aligns with your portfolio goals

HYBX Sharpe Ratio Market Positioning

The chart shows HYBX's Sharpe Ratio relative to all ETFs on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.81 or lower
  • Yellow zone (middle 50%): 0.81 to 2.18
  • Green zone (top 25%): 2.18 or higher
  • Top 1%: 7.17+
  • Median: 1.56 — half of all investments score higher

How it compares to other similar ETFs

The table compares TCW High Yield Bond ETF's Sharpe Ratio with other ETFs in the High Yield Bonds category across multiple time periods, showing how HYBX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 6, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
IBHEiShares iBonds 2025 Term High Yield & Income ETF3.89
FLRTPacific Global Senior Loan ETF3.68
BSJQInvesco BulletShares 2026 High Yield Corp Bond ETF3.45
XHYEBondBloxx US High Yield Energy Sector ETF3.18
HYZDWisdomTree Interest Rate Hedged High Yield Bond Fund2.49
LDRHiShares iBonds 1-5 Year High Yield and Income Ladder ETF2.46
BRHYiShares High Yield Active ETF2.39
FSYDFidelity Sustainable High Yield ETF2.36
PHYDPutnam ESG High Yield ETF -2.32
BSJRInvesco BulletShares 2027 High Yield Corporate Bond ETF2.31
HYBXTCW High Yield Bond ETF0.81

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows HYBX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when HYBX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

Loading charts...

Sharpe Ratio Calculator

How does HYBX fit in your portfolio?

Add your other holdings to see your portfolio's Sharpe Ratio and find out.

Analyze Your Portfolio