ProShares High Yield-Interest Rate Hedged (HYHG) belongs to the High Yield Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with HYHG. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to HYHG
HYHG charges 0.50% annually. There are 84 ETFs in the High Yield Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Schwab High Yield Bond ETF | 0.03% | 2.75B | Jul 2023 | HYHG vs SCYB | |
| SPDR Portfolio High Yield Bond ETF | 0.05% | 11.60B | Jun 2012 | HYHG vs SPHY | |
| Nuveen High Yield Corporate Bond ETF | 0.08% | 1.70B | Sep 2025 | HYHG vs NHYB | |
| iShares Broad USD High Yield Corporate Bond ETF | 0.15% | 28.59B | Oct 2017 | HYHG vs USHY | |
| Xtrackers USD High Yield Corporate Bond ETF | 0.15% | 3.46B | Dec 2016 | HYHG vs HYLB |
Best Risk-Adjusted Alternatives to HYHG
HYHG has a PortfoliosLab risk / return rank of 62. There are 44 ETFs in the High Yield Bonds category with higher risk-adjusted ranks, going as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Invesco BulletShares 2026 High Yield Corp Bond ETF | 96 | 870.26M | Aug 2018 | HYHG vs BSJQ | |
| Virtus Seix Senior Loan ETF | 96 | 251.21M | Apr 2019 | HYHG vs SEIX | |
| WisdomTree Interest Rate Hedged High Yield Bond Fu... | 93 | 259.69M | Dec 2013 | HYHG vs HYZD | |
| iShares Interest Rate Hedged High Yield Bond ETF | 89 | 596.69M | May 2014 | HYHG vs HYGH | |
| Invesco BulletShares 2027 High Yield Corporate Bon... | 88 | 865.81M | Sep 2019 | HYHG vs BSJR |
Top Performing HYHG Alternatives (YTD)
HYHG is at 4.22% YTD. There are 3 ETFs in the High Yield Bonds category with higher YTD returns, going as high as 9.48%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Digital Asset Debt Strategy ETF | 9.48% | — | Aug 2025 | HYHG vs DADS | |
| Man Active High Yield ETF | 6.41% | 19.82M | Sep 2025 | HYHG vs MHY | |
| VanEck Emerging Markets High Yield Bond ETF | 4.49% | 521.46M | May 2012 | HYHG vs HYEM | |
| iShares Interest Rate Hedged High Yield Bond ETF | 4.16% | 596.69M | May 2014 | HYHG vs HYGH | |
| WisdomTree Interest Rate Hedged High Yield Bond Fu... | 3.95% | 259.69M | Dec 2013 | HYHG vs HYZD |
Lowest Volatility Alternatives to HYHG
HYHG has 5.58% 1-year volatility. There are 100 ETFs in the High Yield Bonds category with lower 1-year volatility, going as low as 0.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Xtrackers J.P. Morgan ESG USD High Yield Corporate... | 0.00% | 6.49M | Mar 2015 | HYHG vs ESHY | |
| Invesco BulletShares 2026 High Yield Corp Bond ETF | 1.29% | 870.26M | Aug 2018 | HYHG vs BSJQ | |
| Virtus Seix Senior Loan ETF | 1.63% | 251.21M | Apr 2019 | HYHG vs SEIX | |
| State Street My2027 High Yield Corporate Bond ETF | 1.72% | 4.98M | Feb 2026 | HYHG vs MYHA | |
| Invesco BulletShares 2027 High Yield Corporate Bon... | 1.95% | 865.81M | Sep 2019 | HYHG vs BSJR |
Lowest Drawdown Alternatives to HYHG
HYHG has a 1-year max drawdown of -2.02%. There are 24 ETFs in the High Yield Bonds category with shallower 1-year drawdowns, going as shallow as -0.54%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Invesco BulletShares 2026 High Yield Corp Bond ETF | -0.54% | 870.26M | Aug 2018 | HYHG vs BSJQ | |
| iShares iBonds 2027 Term High Yield and Income ETF | -0.73% | 507.25M | Jul 2021 | HYHG vs IBHG | |
| Virtus Seix Senior Loan ETF | -1.13% | 251.21M | Apr 2019 | HYHG vs SEIX | |
| Invesco BulletShares 2027 High Yield Corporate Bon... | -1.16% | 865.81M | Sep 2019 | HYHG vs BSJR | |
| iShares iBonds 2028 Term High Yield and Income ETF | -1.22% | 457.18M | Mar 2022 | HYHG vs IBHH |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, QLD, BITO and span 10 categories. AUM among these funds goes as high as $33B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 45 | 42.48% | 32.83B | Feb 2010 | HYHG vs TQQQ | |
| ProShares Ultra QQQ | Leveraged Equities | 47 | 31.43% | 12.76B | Jun 2006 | HYHG vs QLD | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 2 | -27.98% | 1.41B | Oct 2021 | HYHG vs BITO | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 59 | 33.75% | 5.15B | Jun 2009 | HYHG vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 61 | 23.77% | 7.81B | Jun 2006 | HYHG vs SSO | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 56 | 71.41% | 2.47B | Jan 2007 | HYHG vs USD | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 46 | 12.94% | 11.68B | Oct 2013 | HYHG vs NOBL | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Inverse Equities, Nasdaq-100 | 1 | -44.29% | 2.00B | Feb 2010 | HYHG vs SQQQ | |
| ProShares Nasdaq-100 High Income ETF | Nasdaq-100, Derivative Income, Dividend | 49 | 14.23% | 394.37M | Mar 2024 | HYHG vs IQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 2 | -35.49% | 244.68M | Oct 2011 | HYHG vs UVXY |
Often Compared With HYHG
Investors most often compare HYHG with HYG, IGHG, SCHD. These 20 comparison targets span 12 categories, based on PortfoliosLab usage data.
Compare HYHG with Any Fund or Stock
Compare HYHG with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair HYHG with funds that move differently
ProShares High Yield-Interest Rate Hedged alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HYHG.
Explore HYHG Diversifiers