ProShares High Yield-Interest Rate Hedged (HYHG)

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The chart shows the growth of an initial investment of $10,000 in ProShares High Yield-Interest Rate Hedged, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

ProShares High Yield-Interest Rate Hedged (HYHG) has returned 0.01% so far this year and 6.59% over the past 12 months. Over the last ten years, HYHG has returned 6.17% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since May 23, 2013, HYHG's average daily return is +0.02%, while the average monthly return is +0.35%. At this rate, your investment would double in approximately 16.5 years.

Historically, 65% of months were positive and 35% were negative. The best month was Jul 2020 with a return of +5.1%, while the worst month was Mar 2020 at -11.7%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.

On a daily basis, HYHG closed higher 53% of trading days. The best single day was Mar 26, 2020 with a return of +7.5%, while the worst single day was Mar 9, 2020 at -4.7%.

ProShares High Yield-Interest Rate Hedged has an annualized alpha of 0.23%, beta of 0.34, and R² of 0.41 versus S&P 500 Index. Calculated based on daily prices since May 24, 2013.

• This ETF participated in 40.24% of S&P 500 Index downside but only 31.90% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.34 may look defensive, but with R² of 0.41 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 0.41 means the benchmark explains less than half of this ETF's behavior — treat beta with caution or consider switching to a more representative benchmark.

HYHG has an expense ratio of 0.50%, placing it in the medium range.

HYHG ranks 46 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.

The table below present risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) and compare them to a chosen benchmark (S&P 500 Index).

ProShares High Yield-Interest Rate Hedged provided a 6.96% dividend yield over the last twelve months, with an annual payout of $4.44 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for ProShares High Yield-Interest Rate Hedged. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the ProShares High Yield-Interest Rate Hedged. 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 ProShares High Yield-Interest Rate Hedged was 25.71%, occurring on Mar 23, 2020. Recovery took 201 trading sessions.

The current ProShares High Yield-Interest Rate Hedged drawdown is 1.31%.

The chart below shows the rolling one-month volatility.