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 107 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%	2.68B	Jul 2023	HYLS vs SCYB
SPHY	SPDR Portfolio High Yield Bond ETF	0.05%	11.41B	Jun 2012	HYLS vs SPHY
NHYB	Nuveen High Yield Corporate Bond ETF	0.08%	1.71B	Sep 2025	HYLS vs NHYB
BBHY	JPMorgan BetaBuilders USD High Yield Corporate Bon...	0.15%	612.42M	Sep 2016	HYLS vs BBHY
HYLB	Xtrackers USD High Yield Corporate Bond ETF	0.15%	3.54B	Dec 2016	HYLS vs HYLB

Best Risk-Adjusted Alternatives to HYLS

HYLS has a PortfoliosLab risk / return rank of 42. There are 77 ETFs in the High Yield Bonds category with higher risk-adjusted ranks, going as high as 96.

Symbol	Name	Risk / Return Rank	AUM	Inception
BSJQ	Invesco BulletShares 2026 High Yield Corp Bond ETF	96	907.20M	Aug 2018	HYLS vs BSJQ
BSJR	Invesco BulletShares 2027 High Yield Corporate Bon...	90	852.94M	Sep 2019	HYLS vs BSJR
HYZD	WisdomTree Interest Rate Hedged High Yield Bond Fu...	89	255.19M	Dec 2013	HYLS vs HYZD
LDRH	iShares iBonds 1-5 Year High Yield and Income Ladd...	88	22.06M	Nov 2024	HYLS vs LDRH
IBHG	iShares iBonds 2027 Term High Yield and Income ETF	87	499.12M	Jul 2021	HYLS vs IBHG

Top Performing HYLS Alternatives (YTD)

HYLS is at 0.50% YTD. There are 91 ETFs in the High Yield Bonds category with higher YTD returns, going as high as 8.09%.

Symbol	Name	YTD Return	AUM	Inception
DADS	Digital Asset Debt Strategy ETF	8.09%	—	Aug 2025	HYLS vs DADS
MHY	Man Active High Yield ETF	5.06%	19.82M	Sep 2025	HYLS vs MHY
HYHG	ProShares High Yield-Interest Rate Hedged	4.22%	179.11M	May 2013	HYLS vs HYHG
HYEM	VanEck Vectors Emerging Markets High Yield Bond ET...	4.07%	522.28M	May 2012	HYLS vs HYEM
HYGH	iShares Interest Rate Hedged High Yield Bond ETF	3.61%	566.14M	May 2014	HYLS vs HYGH

Lowest Volatility Alternatives to HYLS

HYLS has 3.47% 1-year volatility. There are 42 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	1.35%	907.20M	Aug 2018	HYLS vs BSJQ
FLRT	Pacific Global Senior Loan ETF	1.47%	637.48M	Feb 2015	HYLS vs FLRT
MYHA	State Street My2027 High Yield Corporate Bond ETF	1.84%	4.98M	Feb 2026	HYLS vs MYHA
BSJR	Invesco BulletShares 2027 High Yield Corporate Bon...	1.96%	852.94M	Sep 2019	HYLS vs BSJR

Lowest Drawdown Alternatives to HYLS

HYLS has a 1-year max drawdown of -3.09%. There are 72 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%	907.20M	Aug 2018	HYLS vs BSJQ
IBHG	iShares iBonds 2027 Term High Yield and Income ETF	-0.73%	499.12M	Jul 2021	HYLS vs IBHG
BSJR	Invesco BulletShares 2027 High Yield Corporate Bon...	-1.16%	852.94M	Sep 2019	HYLS vs BSJR
IBHH	iShares iBonds 2028 Term High Yield and Income ETF	-1.22%	450.96M	Mar 2022	HYLS vs IBHH
LDRH	iShares iBonds 1-5 Year High Yield and Income Ladd...	-1.23%	22.06M	Nov 2024	HYLS vs LDRH

Other ETFs from First Trust

The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 14 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	34	28.87%	14.26B	Jul 2015	HYLS vs CIBR
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastru...	Alternative Energy Equities	58	19.10%	11.74B	Nov 2009	HYLS vs GRID
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	66	23.60%	10.80B	Mar 2014	HYLS vs AIRR
NFTY	First Trust India NIFTY 50 Equal Weight ETF	India Equities, Equal Weight, Asia Pacific Equities	4	-7.65%	132.86M	Feb 2012	HYLS vs NFTY
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	76	15.23%	7.48B	Mar 2006	HYLS vs FDL
IGLD	FT Vest Gold Strategy Target Income ETF	Gold, Derivative Income, Precious Metals	18	-7.95%	510.89M	Mar 2021	HYLS vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	94	86.56%	2.46B	Sep 2016	HYLS vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	44	17.47%	4.34B	Aug 2012	HYLS vs TDIV
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities	54	20.15%	718.18M	Feb 2007	HYLS vs QCLN
KNG	FT Vest S&P 500 Dividend Aristocrats Target Income...	Dividend, S&P 500	34	8.48%	3.40B	Mar 2018	HYLS vs KNG

Often Compared With HYLS

Investors most often compare HYLS with HYUP, FFTWX, EIFAX. These 20 comparison targets span 14 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	52	1.81%	45.57M	Jan 2018	HYLS vs HYUP
FFTWX	Fidelity Freedom 2025 Fund	Target Retirement Date	66	7.97%	—	Nov 2003	HYLS vs FFTWX
EIFAX	Eaton Vance Floating-Rate Advantage Fund	Bank Loan	32	0.61%	—	Mar 2008	HYLS vs EIFAX
HYG	iShares iBoxx $ High Yield Corporate Bond ETF	High Yield Bonds	57	1.59%	16.73B	Apr 2007	HYLS vs HYG
SCHD	Schwab U.S. Dividend Equity ETF	Dividend	86	20.66%	98.55B	Oct 2011	HYLS vs SCHD
VOO	Vanguard S&P 500 ETF	S&P 500	66	10.45%	1.70T	Sep 2010	HYLS vs VOO
AGG	iShares Core U.S. Aggregate Bond ETF	Total Bond Market	32	-0.22%	138.36B	Sep 2003	HYLS vs AGG
RYLD	Global X Russell 2000 Covered Call ETF	Derivative Income, Small Cap Blend Equities	79	11.10%	1.36B	Apr 2019	HYLS vs RYLD
VTV	Vanguard Value ETF	Large Cap Value Equities	90	16.06%	245.00B	Jan 2004	HYLS vs VTV
GIOIX	Guggenheim Macro Opportunities Fund	Nontraditional Bonds	78	1.13%	—	Nov 2011	HYLS vs GIOIX
JBBB	Janus Henderson B-BBB CLO ETF	CLO	52	2.31%	1.37B	Jan 2022	HYLS vs JBBB
FMB	First Trust Managed Municipal ETF	Municipal Bonds	81	1.97%	2.06B	May 2014	HYLS vs FMB
USHY	iShares Broad USD High Yield Corporate Bond ETF	High Yield Bonds	65	1.82%	28.80B	Oct 2017	HYLS vs USHY
BINC	iShares Flexible Income Active ETF	Multisector Bonds	71	1.13%	16.07B	May 2023	HYLS vs BINC
FSYD	Fidelity Sustainable High Yield ETF	High Yield Bonds	82	3.32%	136.92M	Feb 2022	HYLS vs FSYD
FTSL	First Trust Senior Loan Fund	High Yield Bonds	65	1.00%	2.32B	May 2013	HYLS vs FTSL
IBHE	iShares iBonds 2025 Term High Yield & Income ETF	High Yield Bonds	—	—	364.90M	May 2019	HYLS vs IBHE
YLD	Principal Active High Yield ETF	High Yield Bonds	60	3.02%	569.60M	Jul 2015	HYLS vs YLD
SGOV	iShares 0-3 Month Treasury Bond ETF	Ultrashort Bond	100	1.92%	97.69B	May 2020	HYLS vs SGOV
THY	Agility Shares Dynamic Tactical Income ETF	High Yield Bonds	36	0.71%	62.49M	Jun 2020	HYLS vs THY

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