ARCC vs. HYT
ARCC (Ares Capital Corporation) is a stock, while HYT (BlackRock Corporate High Yield Fund) is High Yield Bonds fund actively managed by BlackRock. Over the past 10 years, ARCC returned 12.83%/yr vs 7.34%/yr for HYT. At a 0.35 correlation, their price movements are largely independent.
Performance
ARCC vs. HYT - Performance Comparison
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Returns By Period
In the year-to-date period, ARCC achieves a -4.69% return, which is significantly lower than HYT's 1.45% return. Over the past 10 years, ARCC has outperformed HYT with an annualized return of 12.83%, while HYT has yielded a comparatively lower 7.34% annualized return.
ARCC
- 1D
- -0.11%
- 1M
- -1.26%
- YTD
- -4.69%
- 6M
- -6.11%
- 1Y
- -7.10%
- 3Y*
- 9.21%
- 5Y*
- 8.47%
- 10Y*
- 12.83%
HYT
- 1D
- 0.12%
- 1M
- 0.21%
- YTD
- 1.45%
- 6M
- -3.62%
- 1Y
- -1.11%
- 3Y*
- 10.09%
- 5Y*
- 2.64%
- 10Y*
- 7.34%
ARCC vs. HYT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARCC Ares Capital Corporation | -4.69% | 1.07% | 19.78% | 20.03% | -3.84% | 36.14% | 0.86% | 31.30% | 8.81% | 4.50% |
HYT BlackRock Corporate High Yield Fund | 1.45% | 0.06% | 14.43% | 19.92% | -22.58% | 16.62% | 11.55% | 31.19% | -7.81% | 8.99% |
Correlation
The correlation between ARCC and HYT is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2004 | 0.35 |
The correlation between ARCC and HYT shifts across timeframes, from 0.26 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ARCC vs. HYT — Risk / Return Rank
ARCC
HYT
ARCC vs. HYT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ares Capital Corporation (ARCC) and BlackRock Corporate High Yield Fund (HYT). 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.
| ARCC | HYT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.99 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | -0.11 | -0.26 |
| Martin ratioReturn relative to average drawdown | -0.67 | -0.27 | -0.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ARCC | HYT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.39 | -0.11 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.18 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.43 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.42 | -0.05 |
Drawdowns
ARCC vs. HYT - Drawdown Comparison
The maximum ARCC drawdown since its inception was -79.36%, which is greater than HYT's maximum drawdown of -56.95%. Use the drawdown chart below to compare losses from any high point for ARCC and HYT.
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Drawdown Indicators
| ARCC | HYT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.36% | -56.95% | -22.41% |
Max Drawdown (1Y)Largest decline over 1 year | -19.35% | -10.17% | -9.18% |
Max Drawdown (3Y)Largest decline over 3 years | -19.35% | -13.95% | -5.40% |
Max Drawdown (5Y)Largest decline over 5 years | -21.76% | -29.05% | +7.29% |
Max Drawdown (10Y)Largest decline over 10 years | -56.77% | -42.59% | -14.18% |
Current DrawdownCurrent decline from peak | -13.24% | -4.65% | -8.59% |
Average DrawdownAverage peak-to-trough decline | -9.10% | -5.91% | -3.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.58% | 4.19% | +6.39% |
Volatility
ARCC vs. HYT - Volatility Comparison
Ares Capital Corporation (ARCC) has a higher volatility of 3.82% compared to BlackRock Corporate High Yield Fund (HYT) at 2.64%. This indicates that ARCC's price experiences larger fluctuations and is considered to be riskier than HYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARCC | HYT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 2.64% | +1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 14.73% | 8.01% | +6.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.45% | 10.01% | +8.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.97% | 14.47% | +5.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.59% | 16.94% | +8.65% |
Dividends
ARCC vs. HYT - Dividend Comparison
ARCC's dividend yield for the trailing twelve months is around 10.23%, less than HYT's 10.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARCC Ares Capital Corporation | 10.23% | 9.49% | 8.77% | 9.59% | 10.12% | 7.65% | 9.47% | 9.01% | 9.88% | 9.67% | 9.22% | 11.02% |
HYT BlackRock Corporate High Yield Fund | 10.84% | 10.50% | 9.53% | 9.91% | 9.80% | 7.58% | 8.18% | 7.92% | 9.20% | 7.68% | 8.23% | 10.18% |
Frequently Asked Questions
ARCC and HYT have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARCC has higher volatility (3.82%) compared to HYT (2.64%). In terms of maximum drawdown, ARCC dropped -79.36% vs HYT's -56.95%.
HYT currently has the higher Sharpe Ratio (-0.11 vs -0.39), 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.
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