- ISIN
- US46431W6066
- CUSIP
- 46431W606
- Issuer
- iShares
- Inception Date
- May 27, 2014
- Region
- North America (U.S.)
- Category
- High Yield Bonds, Corporate Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- Markit iBoxx USD Liquid High Yield Interest Hedged Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $542M
Share Price Chart
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Performance
HYGH Performance Chart
iShares Interest Rate Hedged High Yield Bond ETF (HYGH) is up 3.4% since the beginning of the year. HYGH is currently trading at $87 per share. Investors who bought $1,000 worth of HYGH shares 5 years ago would now be looking at an investment worth $1,399.
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Returns By Period
iShares Interest Rate Hedged High Yield Bond ETF (HYGH) has returned 3.37% so far this year and 7.78% over the past 12 months. Over the last ten years, HYGH has returned 6.48% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
iShares Interest Rate Hedged High Yield Bond ETF
- 1D
- -0.05%
- 1M
- 0.60%
- YTD
- 3.37%
- 6M
- 3.70%
- 1Y
- 7.78%
- 3Y*
- 9.89%
- 5Y*
- 6.94%
- 10Y*
- 6.48%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
HYGH Monthly Returns History
Based on dividend-adjusted daily data since May 29, 2014, HYGH's average daily return is +0.02%, while the average monthly return is +0.40%. At this rate, an investment would double in approximately 14.5 years.
Historically, 66% of months were positive and 34% were negative. The best month was Jul 2022 with a return of +5.1%, while the worst month was Mar 2020 at -10.8%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 3 months.
On a daily basis, HYGH closed higher 52% of trading days. The best single day was Apr 9, 2020 with a return of +6.3%, while the worst single day was Mar 16, 2020 at -5.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.63% | -0.66% | 0.40% | 1.83% | 0.78% | 0.37% | 3.37% | ||||||
| 2025 | 0.90% | 0.12% | -1.20% | -0.58% | 2.48% | 1.49% | 0.54% | 0.52% | 1.02% | 0.15% | 0.42% | 0.91% | 6.94% |
| 2024 | 0.68% | 1.59% | 1.16% | 0.30% | 1.05% | -0.15% | 1.10% | 1.11% | 1.22% | 0.68% | 1.56% | 0.40% | 11.22% |
| 2023 | 2.35% | 0.35% | -0.26% | 0.23% | -0.26% | 3.15% | 1.40% | 0.69% | -0.35% | -0.20% | 2.90% | 1.63% | 12.17% |
| 2022 | -1.39% | -0.53% | 1.61% | -2.42% | 0.87% | -6.16% | 5.12% | -1.74% | -0.80% | 4.28% | 1.46% | -0.72% | -0.92% |
| 2021 | -0.09% | 0.74% | 1.77% | 0.25% | -0.09% | 1.11% | -0.47% | 0.76% | 0.14% | 0.31% | -1.11% | 2.41% | 5.82% |
Benchmark Metrics
iShares Interest Rate Hedged High Yield Bond ETF has an annualized alpha of 0.43%, beta of 0.35, and R2 of 0.54 versus S&P 500 Index. Calculated based on daily prices since May 29, 2014.
- This ETF participated in 36.78% of S&P 500 Index downside but only 31.35% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.35 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.43%
- Beta
- 0.35
- R²
- 0.54
- Upside Capture
- 31.35%
- Downside Capture
- 36.78%
Expense Ratio
HYGH has an expense ratio of 0.52%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HYGH ranks 79 for risk / return — better than 79% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares Interest Rate Hedged High Yield Bond ETF (HYGH) 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.
| HYGH | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.37 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.82 | 2.78 | +2.04 |
| Martin ratioReturn relative to average drawdown | 18.86 | 12.44 | +6.42 |
Dividends
Dividend History
iShares Interest Rate Hedged High Yield Bond ETF provided a 6.60% dividend yield over the last twelve months, with an annual payout of $5.72 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $5.72 | $5.91 | $6.78 | $7.52 | $5.09 | $3.29 | $3.51 | $4.38 | $5.47 | $4.36 | $4.12 | $4.77 |
Dividend yield | 6.60% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares Interest Rate Hedged 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 | $0.43 | $0.47 | $0.49 | $0.49 | $0.46 | $2.34 | ||||||
| 2025 | $0.00 | $0.51 | $0.49 | $0.51 | $0.51 | $0.50 | $0.49 | $0.51 | $0.48 | $0.48 | $0.50 | $0.93 | $5.91 |
| 2024 | $0.00 | $0.57 | $0.64 | $0.57 | $0.62 | $0.55 | $0.52 | $0.58 | $0.56 | $0.55 | $0.55 | $1.05 | $6.78 |
| 2023 | $0.00 | $0.58 | $0.67 | $0.53 | $0.48 | $0.52 | $0.56 | $0.62 | $0.73 | $0.70 | $0.75 | $1.38 | $7.52 |
| 2022 | $0.00 | $0.28 | $0.31 | $0.36 | $0.34 | $0.34 | $0.39 | $0.41 | $0.57 | $0.54 | $0.48 | $1.08 | $5.09 |
| 2021 | $0.00 | $0.30 | $0.27 | $0.25 | $0.28 | $0.28 | $0.27 | $0.27 | $0.26 | $0.27 | $0.26 | $0.56 | $3.29 |
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 Interest Rate Hedged 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 iShares Interest Rate Hedged High Yield Bond ETF was 23.88%, occurring on Mar 23, 2020. Recovery took 193 trading sessions.
The current iShares Interest Rate Hedged High Yield Bond ETF drawdown is 0.05%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -23.88%Mar 2020 | 2mo 6d | 9mo 6d | 11mo 12dJan 2020 - Dec 2020 |
2016 correction2016 | -18.40%Feb 2016 | 1y 7mo | 10mo | 2y 5moJun 2014 - Dec 2016 |
Bear market2022 | -8.24%Jun 2022 | 2mo 26d | 5mo 16d | 8mo 12dApr 2022 - Dec 2022 |
2025 selloff2025 | -8.06%Apr 2025 | 1mo 12d | 1mo 8d | 2mo 20dFeb 2025 - May 2025 |
Rate-hike selloffLate 2018 | -7.58%Dec 2018 | 2mo 23d | 3mo 8d | 6mo 1dOct 2018 - Apr 2019 |
Drawdown Indicators
| HYGH | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.88% | -56.78% | +32.90% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -9.10% | +7.48% |
Max Drawdown (3Y)Largest decline over 3 years | -8.06% | -18.90% | +10.84% |
Max Drawdown (5Y)Largest decline over 5 years | -8.24% | -25.43% | +17.19% |
Max Drawdown (10Y)Largest decline over 10 years | -23.88% | -33.92% | +10.04% |
Current DrawdownCurrent decline from peak | -0.05% | -1.80% | +1.75% |
Average DrawdownAverage peak-to-trough decline | -2.22% | -10.71% | +8.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 2.03% | -1.62% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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