HYLS Alternatives & Similar ETFs

First Trust Tactical High Yield ETF (HYLS) 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 HYLS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to HYLS

HYLS charges 1.01% annually. There are 105 ETFs in the High Yield Bonds category with lower expense ratios, going as low as 0.03%.

Symbol	Name	Expense Ratio	AUM	Inception
SCYB	Schwab High Yield Bond ETF	0.03%	2.60B	Jul 2023	HYLS vs SCYB
SPHY	SPDR Portfolio High Yield Bond ETF	0.05%	11.10B	Jun 2012	HYLS vs SPHY
NHYB	Nuveen High Yield Corporate Bond ETF	0.08%	1.69B	Sep 2025	HYLS vs NHYB
BBHY	JPMorgan BetaBuilders USD High Yield Corporate Bon...	0.15%	615.80M	Sep 2016	HYLS vs BBHY
HYLB	Xtrackers USD High Yield Corporate Bond ETF	0.15%	3.49B	Dec 2016	HYLS vs HYLB

Best Risk-Adjusted Alternatives to HYLS

HYLS has a PortfoliosLab risk / return rank of 40. There are 75 ETFs in the High Yield Bonds category with higher risk-adjusted ranks, going as high as 95.

Symbol	Name	Risk / Return Rank	AUM	Inception
BSJQ	Invesco BulletShares 2026 High Yield Corp Bond ETF	95	962.59M	Aug 2018	HYLS vs BSJQ
LDRH	iShares iBonds 1-5 Year High Yield and Income Ladd...	85	9.36M	Nov 2024	HYLS vs LDRH
HYZD	WisdomTree Interest Rate Hedged High Yield Bond Fu...	84	239.72M	Dec 2013	HYLS vs HYZD
FLRT	Pacific Global Senior Loan ETF	84	624.90M	Feb 2015	HYLS vs FLRT
IBHG	iShares iBonds 2027 Term High Yield and Income ETF	82	500.53M	Jul 2021	HYLS vs IBHG

Top Performing HYLS Alternatives (YTD)

HYLS is at 0.43% YTD. There are 94 ETFs in the High Yield Bonds category with higher YTD returns, going as high as 14.24%.

Symbol	Name	YTD Return	AUM	Inception
DADS	Digital Asset Debt Strategy ETF	14.24%	—	Aug 2025	HYLS vs DADS
HYEM	VanEck Vectors Emerging Markets High Yield Bond ET...	4.28%	522.05M	May 2012	HYLS vs HYEM
MHY	Man Active High Yield ETF	4.09%	19.82M	Sep 2025	HYLS vs MHY
HYHG	ProShares High Yield-Interest Rate Hedged	3.86%	174.87M	May 2013	HYLS vs HYHG
FSYD	Fidelity Sustainable High Yield ETF	3.40%	125.35M	Feb 2022	HYLS vs FSYD

Lowest Volatility Alternatives to HYLS

HYLS has 3.54% 1-year volatility. There are 44 ETFs in the High Yield Bonds category with lower 1-year volatility, going as low as 0.00%.

Symbol	Name	Volatility 1Y	AUM	Inception
ESHY	Xtrackers J.P. Morgan ESG USD High Yield Corporate...	0.00%	6.49M	Mar 2015	HYLS vs ESHY
BSJQ	Invesco BulletShares 2026 High Yield Corp Bond ETF	1.36%	962.59M	Aug 2018	HYLS vs BSJQ
FLRT	Pacific Global Senior Loan ETF	1.59%	624.90M	Feb 2015	HYLS vs FLRT
BSJR	Invesco BulletShares 2027 High Yield Corporate Bon...	2.08%	847.56M	Sep 2019	HYLS vs BSJR
IBHG	iShares iBonds 2027 Term High Yield and Income ETF	2.09%	500.53M	Jul 2021	HYLS vs IBHG

Lowest Drawdown Alternatives to HYLS

HYLS has a 1-year max drawdown of -3.09%. There are 71 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
BSJQ	Invesco BulletShares 2026 High Yield Corp Bond ETF	-0.54%	962.59M	Aug 2018	HYLS vs BSJQ
IBHG	iShares iBonds 2027 Term High Yield and Income ETF	-0.73%	500.53M	Jul 2021	HYLS vs IBHG
BSJR	Invesco BulletShares 2027 High Yield Corporate Bon...	-1.16%	847.56M	Sep 2019	HYLS vs BSJR
IBHH	iShares iBonds 2028 Term High Yield and Income ETF	-1.22%	452.61M	Mar 2022	HYLS vs IBHH
LDRH	iShares iBonds 1-5 Year High Yield and Income Ladd...	-1.23%	9.36M	Nov 2024	HYLS vs LDRH

Other ETFs from First Trust

The 10 most viewed First Trust ETFs shown here include CIBR, GRID, NFTY and span 13 categories. AUM among these funds goes as high as $14B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
CIBR	First Trust NASDAQ Cybersecurity ETF	Cybersecurity, Technology Equities	18	18.06%	13.59B	Jul 2015	HYLS vs CIBR
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastru...	Alternative Energy Equities	65	23.40%	11.60B	Nov 2009	HYLS vs GRID
NFTY	First Trust India NIFTY 50 Equal Weight ETF	Asia Pacific Equities, Equal Weight	5	-7.30%	136.58M	Feb 2012	HYLS vs NFTY
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	79	31.81%	11.14B	Mar 2014	HYLS vs AIRR
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	69	12.67%	9.22B	Mar 2006	HYLS vs FDL
IGLD	FT Vest Gold Strategy Target Income ETF	Gold, Derivative Income, Precious Metals	18	-5.55%	543.16M	Mar 2021	HYLS vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	96	111.02%	2.89B	Sep 2016	HYLS vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	53	19.03%	4.90B	Aug 2012	HYLS vs TDIV
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities	78	37.20%	880.41M	Feb 2007	HYLS vs QCLN
KNG	FT Vest S&P 500 Dividend Aristocrats Target Income...	Dividend, S&P 500	27	4.84%	3.32B	Mar 2018	HYLS vs KNG

Often Compared With HYLS

Investors most often compare HYLS with HYUP, EIFAX, FFTWX. These 20 comparison targets span 15 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
HYUP	Xtrackers High Beta High Yield Bond ETF	High Yield Bonds	49	1.83%	43.71M	Jan 2018	HYLS vs HYUP
EIFAX	Eaton Vance Floating-Rate Advantage Fund	Bank Loan	37	0.37%	—	Mar 2008	HYLS vs EIFAX
FFTWX	Fidelity Freedom 2025 Fund	Target Retirement Date	72	8.38%	—	Nov 2003	HYLS vs FFTWX
HYGH	iShares Interest Rate Hedged High Yield Bond ETF	High Yield Bonds, Corporate Bonds	79	3.33%	541.60M	May 2014	HYLS vs HYGH
HYG	iShares iBoxx $ High Yield Corporate Bond ETF	High Yield Bonds	52	1.56%	16.56B	Apr 2007	HYLS vs HYG
VOO	Vanguard S&P 500 ETF	S&P 500	59	8.19%	1.70T	Sep 2010	HYLS vs VOO
SCHD	Schwab U.S. Dividend Equity ETF	Dividend	77	17.72%	99.95B	Oct 2011	HYLS vs SCHD
AGG	iShares Core U.S. Aggregate Bond ETF	Total Bond Market	32	0.47%	138.10B	Sep 2003	HYLS vs AGG
RYLD	Global X Russell 2000 Covered Call ETF	Derivative Income, Small Cap Blend Equities	68	9.51%	1.36B	Apr 2019	HYLS vs RYLD
VTV	Vanguard Value ETF	Large Cap Value Equities	84	14.47%	245.00B	Jan 2004	HYLS vs VTV
GIOIX	Guggenheim Macro Opportunities Fund	Nontraditional Bonds	71	0.79%	—	Nov 2011	HYLS vs GIOIX
FMB	First Trust Managed Municipal ETF	Municipal Bonds	75	1.96%	2.04B	May 2014	HYLS vs FMB
JBBB	Janus Henderson B-BBB CLO ETF	CLO	42	1.67%	1.21B	Jan 2022	HYLS vs JBBB
BINC	iShares Flexible Income Active ETF	Multisector Bonds	68	1.29%	16.17B	May 2023	HYLS vs BINC
USHY	iShares Broad USD High Yield Corporate Bond ETF	High Yield Bonds	57	1.70%	28.01B	Oct 2017	HYLS vs USHY
IBHE	iShares iBonds 2025 Term High Yield & Income ETF	High Yield Bonds	—	—	364.90M	May 2019	HYLS vs IBHE
FTSL	First Trust Senior Loan Fund	High Yield Bonds	60	0.65%	2.31B	May 2013	HYLS vs FTSL
YLD	Principal Active High Yield ETF	High Yield Bonds	53	2.78%	566.30M	Jul 2015	HYLS vs YLD
THY	Agility Shares Dynamic Tactical Income ETF	High Yield Bonds	38	0.80%	62.49M	Jun 2020	HYLS vs THY
SGOV	iShares 0-3 Month Treasury Bond ETF	Ultrashort Bond	100	1.71%	95.28B	May 2020	HYLS vs SGOV

Compare HYLS with Any Fund or Stock

Compare HYLS with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

Symbol name

Diversifiers

Pair HYLS with funds that move differently

First Trust Tactical High Yield ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HYLS.

Explore HYLS Diversifiers

First Trust Tactical High Yield ETF (HYLS) Alternatives