- ISIN
- US4642885135
- CUSIP
- 464288513
- Issuer
- iShares
- Inception Date
- Apr 4, 2007
- Region
- North America (U.S.)
- Category
- High Yield Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- Markit iBoxx USD Liquid High Yield Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $17B
Share Price Chart
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Performance
HYG Performance Chart
iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is up 1.7% since the beginning of the year. HYG is currently trading at $80 per share. Investors who bought $1,000 worth of HYG shares 5 years ago would now be looking at an investment worth $1,206.
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Returns By Period
iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has returned 1.74% so far this year and 6.32% over the past 12 months. Over the last ten years, HYG has returned 4.97% per year, falling short of the S&P 500 Index benchmark, which averaged 13.54% annually.
iShares iBoxx $ High Yield Corporate Bond ETF
- 1D
- 0.35%
- 1M
- 0.65%
- YTD
- 1.74%
- 6M
- 2.08%
- 1Y
- 6.32%
- 3Y*
- 8.46%
- 5Y*
- 3.82%
- 10Y*
- 4.97%
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.34%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
HYG Monthly Returns History
Based on dividend-adjusted daily data since Apr 11, 2007, HYG's average daily return is +0.02%, while the average monthly return is +0.45%. At this rate, an investment would double in approximately 12.9 years.
Historically, 65% of months were positive and 35% were negative. The best month was Dec 2008 with a return of +16.8%, while the worst month was Oct 2008 at -11.5%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, HYG closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +12.3%, while the worst single day was Sep 29, 2008 at -8.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.61% | 0.00% | -0.95% | 1.52% | 0.44% | 0.14% | 1.74% | ||||||
| 2025 | 1.36% | 0.97% | -1.09% | 0.12% | 1.75% | 1.84% | 0.14% | 1.11% | 0.89% | -0.01% | 0.75% | 0.49% | 8.59% |
| 2024 | 0.12% | 0.30% | 1.09% | -1.35% | 1.63% | 0.48% | 2.35% | 1.55% | 1.70% | -0.96% | 1.64% | -0.78% | 7.97% |
| 2023 | 3.67% | -1.88% | 1.98% | 0.20% | -1.23% | 1.78% | 1.12% | 0.18% | -1.61% | -1.04% | 4.89% | 3.19% | 11.54% |
| 2022 | -2.65% | -0.86% | -1.29% | -4.18% | 1.63% | -7.05% | 6.70% | -4.31% | -3.74% | 3.37% | 3.43% | -1.76% | -10.98% |
| 2021 | -0.38% | -0.24% | 1.22% | 0.64% | 0.04% | 1.32% | 0.10% | 0.61% | -0.37% | -0.31% | -1.17% | 2.28% | 3.76% |
Benchmark Metrics
iShares iBoxx $ High Yield Corporate Bond ETF has an annualized alpha of 1.63%, beta of 0.37, and R2 of 0.44 versus S&P 500 Index. Calculated based on daily prices since April 11, 2007.
- This ETF participated in 50.20% of S&P 500 Index downside but only 43.56% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.37 may look defensive, but with R2 of 0.44 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 0.44 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 1.63%
- Beta
- 0.37
- R²
- 0.44
- Upside Capture
- 43.56%
- Downside Capture
- 50.20%
Expense Ratio
HYG has an expense ratio of 0.49%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HYG ranks 58 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HYG | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.35 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 2.66 | +0.20 |
| Martin ratioReturn relative to average drawdown | 12.54 | 11.86 | +0.67 |
Dividends
Dividend History
iShares iBoxx $ High Yield Corporate Bond ETF provided a 5.90% dividend yield over the last twelve months, with an annual payout of $4.72 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $4.72 | $4.61 | $4.72 | $4.45 | $3.90 | $3.50 | $4.26 | $4.39 | $4.49 | $4.47 | $4.56 | $4.76 |
Dividend yield | 5.90% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares iBoxx $ High Yield Corporate 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 | $0.40 | $0.39 | $0.38 | $0.42 | $0.41 | $2.00 | ||||||
| 2025 | $0.00 | $0.36 | $0.37 | $0.38 | $0.40 | $0.38 | $0.38 | $0.40 | $0.38 | $0.38 | $0.41 | $0.76 | $4.61 |
| 2024 | $0.00 | $0.38 | $0.44 | $0.40 | $0.40 | $0.36 | $0.40 | $0.41 | $0.38 | $0.39 | $0.39 | $0.77 | $4.72 |
| 2023 | $0.00 | $0.37 | $0.45 | $0.34 | $0.33 | $0.35 | $0.40 | $0.36 | $0.35 | $0.39 | $0.39 | $0.72 | $4.45 |
| 2022 | $0.00 | $0.31 | $0.31 | $0.33 | $0.31 | $0.31 | $0.33 | $0.30 | $0.37 | $0.35 | $0.28 | $0.72 | $3.90 |
| 2021 | $0.00 | $0.32 | $0.31 | $0.29 | $0.29 | $0.29 | $0.29 | $0.28 | $0.28 | $0.29 | $0.28 | $0.58 | $3.50 |
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 iShares iBoxx $ High Yield Corporate 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 iShares iBoxx $ High Yield Corporate Bond ETF was 34.25%, occurring on Nov 20, 2008. Recovery took 259 trading sessions.
The current iShares iBoxx $ High Yield Corporate Bond ETF drawdown is 0.04%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -34.25%Nov 2008 | 1y 2mo | 1y 12d | 2y 2moSep 2007 - Dec 2009 |
COVID crash2020 | -22.03%Mar 2020 | 1mo 1d | 7mo 16d | 8mo 17dFeb 2020 - Nov 2020 |
Bear market2022 | -15.79%Sep 2022 | 9mo 3d | 1y 5mo | 2y 2moDec 2021 - Mar 2024 |
2016 correction2016 | -13.44%Feb 2016 | 10mo 1d | 4mo 28d | 1y 2moApr 2015 - Jul 2016 |
2011 correction2011 | -10.06%Oct 2011 | 2mo 11d | 20d | 3mo 1dJul 2011 - Oct 2011 |
Drawdown Indicators
| HYG | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.25% | -56.78% | +22.53% |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | -9.10% | +6.76% |
Max Drawdown (3Y)Largest decline over 3 years | -4.56% | -18.90% | +14.34% |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | -25.43% | +9.64% |
Max Drawdown (10Y)Largest decline over 10 years | -22.03% | -33.92% | +11.89% |
Current DrawdownCurrent decline from peak | -0.04% | -2.49% | +2.45% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -10.72% | +7.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 2.03% | -1.50% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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