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 108 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%	2.75B	Jul 2023	HYLS vs SCYB
SPHY	SPDR Portfolio High Yield Bond ETF	0.05%	11.60B	Jun 2012	HYLS vs SPHY
NHYB	Nuveen High Yield Corporate Bond ETF	0.08%	1.70B	Sep 2025	HYLS vs NHYB
HYLB	Xtrackers USD High Yield Corporate Bond ETF	0.15%	3.46B	Dec 2016	HYLS vs HYLB
USHY	iShares Broad USD High Yield Corporate Bond ETF	0.15%	28.59B	Oct 2017	HYLS vs USHY

Best Risk-Adjusted Alternatives to HYLS

HYLS has a PortfoliosLab risk / return rank of 45. There are 75 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	870.26M	Aug 2018	HYLS vs BSJQ
SEIX	Virtus Seix Senior Loan ETF	96	251.21M	Apr 2019	HYLS vs SEIX
HYZD	WisdomTree Interest Rate Hedged High Yield Bond Fu...	92	259.69M	Dec 2013	HYLS vs HYZD
BSJR	Invesco BulletShares 2027 High Yield Corporate Bon...	90	865.81M	Sep 2019	HYLS vs BSJR
LDRH	iShares iBonds 1-5 Year High Yield and Income Ladd...	90	22.57M	Nov 2024	HYLS vs LDRH

Top Performing HYLS Alternatives (YTD)

HYLS is at 0.57% YTD. There are 90 ETFs in the High Yield Bonds category with higher YTD returns, going as high as 6.35%.

Symbol	Name	YTD Return	AUM	Inception
DADS	Digital Asset Debt Strategy ETF	6.35%	—	Aug 2025	HYLS vs DADS
MHY	Man Active High Yield ETF	5.89%	19.82M	Sep 2025	HYLS vs MHY
HYEM	VanEck Emerging Markets High Yield Bond ETF	4.23%	521.46M	May 2012	HYLS vs HYEM
HYHG	ProShares High Yield-Interest Rate Hedged	4.07%	185.42M	May 2013	HYLS vs HYHG
HYGH	iShares Interest Rate Hedged High Yield Bond ETF	3.69%	596.69M	May 2014	HYLS vs HYGH

Lowest Volatility Alternatives to HYLS

HYLS has 3.50% 1-year volatility. There are 45 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	1.30%	870.26M	Aug 2018	HYLS vs BSJQ
SEIX	Virtus Seix Senior Loan ETF	1.63%	251.21M	Apr 2019	HYLS vs SEIX
MYHA	State Street My2027 High Yield Corporate Bond ETF	1.73%	4.98M	Feb 2026	HYLS vs MYHA
BSJR	Invesco BulletShares 2027 High Yield Corporate Bon...	1.95%	865.81M	Sep 2019	HYLS vs BSJR

Lowest Drawdown Alternatives to HYLS

HYLS has a 1-year max drawdown of -3.09%. There are 73 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%	870.26M	Aug 2018	HYLS vs BSJQ
IBHG	iShares iBonds 2027 Term High Yield and Income ETF	-0.73%	507.25M	Jul 2021	HYLS vs IBHG
SEIX	Virtus Seix Senior Loan ETF	-1.13%	251.21M	Apr 2019	HYLS vs SEIX
BSJR	Invesco BulletShares 2027 High Yield Corporate Bon...	-1.16%	865.81M	Sep 2019	HYLS vs BSJR
IBHH	iShares iBonds 2028 Term High Yield and Income ETF	-1.22%	457.18M	Mar 2022	HYLS vs IBHH

Other ETFs from First Trust

The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 16 categories. AUM among these funds goes as high as $25B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
CIBR	First Trust NASDAQ Cybersecurity ETF	Cybersecurity, Technology Equities	39	28.86%	14.31B	Jul 2015	HYLS vs CIBR
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastru...	Infrastructure Equities, Alternative Energy Equities, Energy Equities	49	17.75%	11.67B	Nov 2009	HYLS vs GRID
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	54	19.12%	10.18B	Mar 2014	HYLS vs AIRR
NFTY	First Trust India NIFTY 50 Equal Weight ETF	India Equities, Equal Weight, Asia Pacific Equities	8	-5.91%	118.19M	Feb 2012	HYLS vs NFTY
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	92	18.16%	7.77B	Mar 2006	HYLS vs FDL
IGLD	FT Vest Gold Strategy Target Income ETF	Gold, Derivative Income, Precious Metals	25	-6.56%	514.13M	Mar 2021	HYLS vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	91	67.20%	1.27B	Sep 2016	HYLS vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	43	14.88%	4.18B	Aug 2012	HYLS vs TDIV
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities, Energy Equities	39	10.48%	586.61M	Feb 2007	HYLS vs QCLN
RDVY	First Trust Rising Dividend Achievers ETF	Dividend, Large Cap Blend Equities	85	17.25%	24.89B	Jan 2014	HYLS vs RDVY

Often Compared With HYLS

Investors most often compare HYLS with HYUP, FFTWX, EIFAX. 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	53	1.73%	45.33M	Jan 2018	HYLS vs HYUP
FFTWX	Fidelity Freedom 2025 Fund	Target Retirement Date	69	6.66%	—	Nov 2003	HYLS vs FFTWX
EIFAX	Eaton Vance Floating-Rate Advantage Fund	Bank Loan	45	0.51%	—	Mar 2008	HYLS vs EIFAX
HYG	iShares iBoxx $ High Yield Corporate Bond ETF	High Yield Bonds	59	1.54%	17.11B	Apr 2007	HYLS vs HYG
SCHD	Schwab U.S. Dividend Equity ETF	Dividend	95	24.03%	104.16B	Oct 2011	HYLS vs SCHD
VOO	Vanguard S&P 500 ETF	S&P 500	68	10.16%	1.70T	Sep 2010	HYLS vs VOO
AGG	iShares Core U.S. Aggregate Bond ETF	Total Bond Market	29	-0.56%	137.11B	Sep 2003	HYLS vs AGG
RYLD	Global X Russell 2000 Covered Call ETF	Derivative Income, Small Cap Blend Equities	90	12.29%	1.37B	Apr 2019	HYLS vs RYLD
VTV	Vanguard Value ETF	Large Cap Value Equities	93	16.37%	254.20B	Jan 2004	HYLS vs VTV
GIOIX	Guggenheim Macro Opportunities Fund	Nontraditional Bonds	79	0.67%	—	Nov 2011	HYLS vs GIOIX
FMB	First Trust Managed Municipal ETF	Municipal Bonds	73	0.43%	2.05B	May 2014	HYLS vs FMB
JBBB	Janus Henderson B-BBB CLO ETF	CLO	60	2.73%	1.41B	Jan 2022	HYLS vs JBBB
BBHY	JPMorgan BetaBuilders USD High Yield Corporate Bon...	High Yield Bonds	69	1.83%	615.72M	Sep 2016	HYLS vs BBHY
YLD	Principal Active High Yield ETF	High Yield Bonds	64	3.34%	572.20M	Jul 2015	HYLS vs YLD
BINC	iShares Flexible Income Active ETF	Multisector Bonds	70	1.11%	16.09B	May 2023	HYLS vs BINC
KNG	FT Vest S&P 500 Dividend Aristocrats Target Income...	Dividend, S&P 500	44	8.70%	3.53B	Mar 2018	HYLS vs KNG
FSYD	Fidelity Sustainable High Yield ETF	High Yield Bonds	83	3.03%	136.92M	Feb 2022	HYLS vs FSYD
SGOV	iShares 0-3 Month Treasury Bond ETF	Ultrashort Bond	100	2.11%	99.95B	May 2020	HYLS vs SGOV
IBHE	iShares iBonds 2025 Term High Yield & Income ETF	High Yield Bonds	—	—	364.90M	May 2019	HYLS vs IBHE
YCS	ProShares UltraShort Yen	Leveraged Currency	56	7.29%	29.84M	Nov 2008	HYLS vs YCS

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