AHYB vs. AVIG

Last updated Aug 4, 2026

AHYB (American Century Select High Yield ETF) and AVIG (Avantis Core Fixed Income ETF) are both exchange-traded funds - AHYB is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained (BB), while AVIG is a Intermediate Core Bond fund actively managed by Avantis. AHYB is passively managed, while AVIG is actively managed. Over the past 3 years, AHYB returned 7.50%/yr vs 4.47%/yr for AVIG. Their 0.59 correlation means they have sometimes moved together and sometimes differently. AHYB charges 0.45%/yr vs 0.15%/yr for AVIG.

Performance

AHYB vs. AVIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Select High Yield ETF (AHYB) and Avantis Core Fixed Income ETF (AVIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AHYB achieves a 1.34% return, which is significantly higher than AVIG's -0.50% return.

AHYB

• 1D: 0.28%
• 1M: -0.39%
• 6M: 0.93%
• YTD: 1.34%
• 1Y: 4.97%
• 3Y*: 7.50%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.69%

AVIG

• 1D: 0.17%
• 1M: -1.05%
• 6M: -0.62%
• YTD: -0.50%
• 1Y: 2.13%
• 3Y*: 4.47%
• 5Y*: -0.40%
• 10Y*: —
• ALL TIME*: -0.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AHYB American Century Select High Yield ETF	$85.10K	$85.21K	$97.19K
AVIG Avantis Core Fixed Income ETF	$7.77M	$12.37M	$14.06M

AHYB vs. AVIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AHYB American Century Select High Yield ETF	1.34%	8.96%	6.32%	11.69%	-10.26%	0.79%
AVIG Avantis Core Fixed Income ETF	-0.50%	7.98%	1.55%	6.41%	-13.94%	0.25%

Correlation

The correlation between AHYB and AVIG is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.65
Correlation (All Time) Calculated using the full available price history since Nov 18, 2021	0.59

The correlation between AHYB and AVIG has been stable across timeframes, ranging from 0.59 to 0.65 - a consistent structural relationship.

Return for Risk

AHYB vs. AVIG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AHYB

AHYB Risk / Return Rank: 62
AHYB Sharpe Ratio Rank: 58
AHYB Sortino Ratio Rank: 63
AHYB Omega Ratio Rank: 63
AHYB Calmar Ratio Rank: 54
AHYB Martin Ratio Rank: 72

AVIG

AVIG Risk / Return Rank: 23
AVIG Sharpe Ratio Rank: 25
AVIG Sortino Ratio Rank: 23
AVIG Omega Ratio Rank: 22
AVIG Calmar Ratio Rank: 24
AVIG Martin Ratio Rank: 24

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AHYB vs. AVIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Select High Yield ETF (AHYB) and Avantis Core Fixed Income ETF (AVIG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AHYB	AVIG	Difference
Sharpe ratio: Return per unit of total volatility	1.50	0.57	+0.93
Sortino ratio: Return per unit of downside risk	2.26	0.82	+1.44
Omega ratio: Gain probability vs. loss probability	1.29	1.10	+0.19
Calmar ratio: Return relative to maximum drawdown	2.07	0.76	+1.31
Martin ratio: Return relative to average drawdown	9.54	1.86	+7.68

AHYB vs. AVIG - Sharpe Ratio Comparison

The current AHYB Sharpe Ratio is 1.50, which is higher than the AVIG Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of AHYB and AVIG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AHYB vs. AVIG - Drawdown Comparison

The maximum AHYB drawdown since its inception was -14.76%, smaller than the maximum AVIG drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for AHYB and AVIG.

Drawdown Indicators

	AHYB	AVIG	Difference
Max Drawdown Largest peak-to-trough decline	-14.76%	-19.64%	+4.88%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	-2.82%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-3.89%	-4.96%	+1.07%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.24%	—
Current Drawdown Current decline from peak	-0.41%	-2.23%	+1.82%
Average Drawdown Average peak-to-trough decline	-3.35%	-7.58%	+4.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	1.15%	-0.63%

Volatility

AHYB vs. AVIG - Volatility Comparison

The current volatility for American Century Select High Yield ETF (AHYB) is 0.87%, while Avantis Core Fixed Income ETF (AVIG) has a volatility of 1.04%. This indicates that AHYB experiences smaller price fluctuations and is considered to be less risky than AVIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AHYB	AVIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	1.04%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	2.74%	3.10%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	3.75%	-0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.04%	6.24%	+0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.04%	5.96%	+1.08%

AHYB vs. AVIG - Expense Ratio Comparison

AHYB has a 0.45% expense ratio, which is higher than AVIG's 0.15% expense ratio.

Dividends

AHYB vs. AVIG - Dividend Comparison

AHYB's dividend yield for the trailing twelve months is around 5.52%, more than AVIG's 4.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
AHYB American Century Select High Yield ETF	5.52%	5.80%	5.87%	5.28%	5.06%	0.60%	0.00%
AVIG Avantis Core Fixed Income ETF	4.00%	4.36%	4.66%	4.06%	2.53%	1.12%	0.22%

Frequently Asked Questions

Can I hold both AHYB and AVIG in my portfolio?

AHYB and AVIG have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AHYB or AVIG?

AVIG has higher volatility (1.04%) compared to AHYB (0.87%). In terms of maximum drawdown, AHYB dropped -14.76% vs AVIG's -19.64%.

Which ETF is better, AHYB or AVIG?

On 3-year performance, AHYB leads with 7.50% vs 4.47% for AVIG. On fees, AVIG is cheaper at 0.15% per year. On volatility, AHYB has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AHYB or AVIG?

Over the 3-year period, AHYB has performed better with a 7.50% return vs 4.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AHYB or AVIG?

AVIG is cheaper with a 0.15% expense ratio, compared with 0.45% for AHYB.

Which ETF pays a higher dividend yield, AHYB or AVIG?

AHYB has the higher dividend yield at 5.52%, compared with 4.00% for AVIG.

What is the main difference between AHYB and AVIG?

AHYB is categorized as High Yield Bonds, while AVIG is Intermediate Core Bond. They also come from different issuers: American Century and Avantis. Their fees differ too: 0.45% for AHYB and 0.15% for AVIG.

Which has better risk-adjusted returns?

AHYB currently has the higher Sharpe Ratio (1.50 vs 0.57), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.