AMAX vs. HYKE

Last updated Jul 14, 2026

AMAX (RH Hedged Multi-Asset Income ETF) and HYKE (Vest 2 Year Interest Rate Hedge ETF) are both Nontraditional Bonds funds. Both are actively managed. AMAX charges 1.29%/yr vs 0.85%/yr for HYKE.

Performance

AMAX vs. HYKE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RH Hedged Multi-Asset Income ETF (AMAX) and Vest 2 Year Interest Rate Hedge ETF (HYKE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AMAX

• 1D: -0.40%
• 1M: -1.73%
• 6M: -1.82%
• YTD: 0.54%
• 1Y: 4.58%
• 3Y*: 7.43%
• 5Y*: —
• 10Y*: —

HYKE

• 1D: 0.00%
• 1M: 0.00%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AMAX vs. HYKE - Yearly Performance Comparison

	2026 (YTD)
AMAX RH Hedged Multi-Asset Income ETF	1.24%
HYKE Vest 2 Year Interest Rate Hedge ETF	0.00%

Return for Risk

AMAX vs. HYKE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMAX

AMAX Risk / Return Rank: 17
AMAX Sharpe Ratio Rank: 17
AMAX Sortino Ratio Rank: 15
AMAX Omega Ratio Rank: 16
AMAX Calmar Ratio Rank: 18
AMAX Martin Ratio Rank: 19

HYKE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMAX vs. HYKE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RH Hedged Multi-Asset Income ETF (AMAX) and Vest 2 Year Interest Rate Hedge ETF (HYKE). 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.

	AMAX	HYKE	Difference
Sharpe ratio: Return per unit of total volatility	0.43	—	—
Sortino ratio: Return per unit of downside risk	0.65	—	—
Omega ratio: Gain probability vs. loss probability	1.08	—	—
Calmar ratio: Return relative to maximum drawdown	0.61	—	—
Martin ratio: Return relative to average drawdown	1.51	—	—

Drawdowns

AMAX vs. HYKE - Drawdown Comparison

The maximum AMAX drawdown since its inception was -16.28%, which is greater than HYKE's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for AMAX and HYKE.

Drawdown Indicators

	AMAX	HYKE	Difference
Max Drawdown Largest peak-to-trough decline	-16.28%	0.00%	-16.28%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-9.27%	—	—
Current Drawdown Current decline from peak	-5.94%	0.00%	-5.94%
Average Drawdown Average peak-to-trough decline	-5.31%	0.00%	-5.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	—	—

Volatility

Volatility by Period

	AMAX	HYKE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.87%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.63%	0.00%	+10.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.45%	0.00%	+10.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.45%	0.00%	+10.45%

AMAX vs. HYKE - Expense Ratio Comparison

AMAX has a 1.29% expense ratio, which is higher than HYKE's 0.85% expense ratio.

Dividends

AMAX vs. HYKE - Dividend Comparison

AMAX's dividend yield for the trailing twelve months is around 11.67%, while HYKE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
AMAX RH Hedged Multi-Asset Income ETF	11.67%	9.18%	7.36%	6.99%	11.22%	1.00%
HYKE Vest 2 Year Interest Rate Hedge ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, AMAX or HYKE?

On fees, HYKE is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AMAX or HYKE?

HYKE is cheaper with a 0.85% expense ratio, compared with 1.29% for AMAX.

Which ETF pays a higher dividend yield, AMAX or HYKE?

AMAX has the higher dividend yield at 11.67%, compared with 0.00% for HYKE.

What is the main difference between AMAX and HYKE?

They also come from different issuers: Adaptive and Cboe Vest. Their fees differ too: 1.29% for AMAX and 0.85% for HYKE.