ASGM vs. VSHY

Last updated Jun 4, 2026

ASGM (Virtus AlphaSimplex Global Macro ETF) and VSHY (Virtus Newfleet Short Duration High Yield Bond ETF) are both exchange-traded funds - ASGM is a Tactical Allocation fund actively managed by Virtus, while VSHY is a High Yield Bonds fund actively managed by Virtus. Both are actively managed. A 0.55 correlation means they provide meaningful diversification when combined. ASGM charges 0.86%/yr vs 0.40%/yr for VSHY.

Performance

ASGM vs. VSHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus AlphaSimplex Global Macro ETF (ASGM) and Virtus Newfleet Short Duration High Yield Bond ETF (VSHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASGM achieves a 22.52% return, which is significantly higher than VSHY's 1.75% return.

ASGM

• 1D: -0.53%
• 1M: 7.21%
• YTD: 22.52%
• 6M: 24.07%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VSHY

• 1D: -0.19%
• 1M: 0.37%
• YTD: 1.75%
• 6M: 1.74%
• 1Y: 6.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ASGM vs. VSHY - Yearly Performance Comparison

	2026 (YTD)	2025
ASGM Virtus AlphaSimplex Global Macro ETF	22.52%	11.57%
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	1.75%	2.78%

Correlation

The correlation between ASGM and VSHY is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 6, 2025	0.55

Return for Risk

ASGM vs. VSHY — Risk / Return Rank

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

VSHY

VSHY Risk / Return Rank: 65
VSHY Sharpe Ratio Rank: 56
VSHY Sortino Ratio Rank: 61
VSHY Omega Ratio Rank: 60
VSHY Calmar Ratio Rank: 74
VSHY Martin Ratio Rank: 73

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.

ASGM vs. VSHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus AlphaSimplex Global Macro ETF (ASGM) and Virtus Newfleet Short Duration High Yield Bond ETF (VSHY). 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.

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

Sharpe Ratios by Period

	ASGM	VSHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.95	1.88	+1.07

Drawdowns

ASGM vs. VSHY - Drawdown Comparison

The maximum ASGM drawdown since its inception was -6.62%, which is greater than VSHY's maximum drawdown of -4.55%. Use the drawdown chart below to compare losses from any high point for ASGM and VSHY.

Drawdown Indicators

	ASGM	VSHY	Difference
Max Drawdown Largest peak-to-trough decline	-6.62%	-4.55%	-2.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.73%	—
Current Drawdown Current decline from peak	-0.53%	-0.33%	-0.20%
Average Drawdown Average peak-to-trough decline	-1.22%	-0.42%	-0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.46%	—

Volatility

Volatility by Period

	ASGM	VSHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.32%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.65%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.67%	3.40%	+12.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.67%	4.40%	+11.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.67%	4.40%	+11.27%

ASGM vs. VSHY - Expense Ratio Comparison

ASGM has a 0.86% expense ratio, which is higher than VSHY's 0.40% expense ratio.

Dividends

ASGM vs. VSHY - Dividend Comparison

ASGM's dividend yield for the trailing twelve months is around 3.69%, less than VSHY's 6.41% yield.

Position	TTM	2025	2024	2023
ASGM Virtus AlphaSimplex Global Macro ETF	3.69%	4.52%	0.00%	0.00%
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	6.41%	6.14%	6.81%	1.36%

Frequently Asked Questions

Can I hold both ASGM and VSHY in my portfolio?

ASGM and VSHY have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ASGM or VSHY?

On fees, VSHY is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ASGM or VSHY?

VSHY is cheaper with a 0.40% expense ratio, compared with 0.86% for ASGM.

Which ETF pays a higher dividend yield, ASGM or VSHY?

VSHY has the higher dividend yield at 6.41%, compared with 3.69% for ASGM.

What is the main difference between ASGM and VSHY?

ASGM is categorized as Tactical Allocation, while VSHY is High Yield Bonds. Their fees differ too: 0.86% for ASGM and 0.40% for VSHY.