BBHY vs. HYS
BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) and HYS (PIMCO 0-5 Year High Yield Corporate Bond Index ETF) are both High Yield Bonds funds - BBHY tracks the ICE BofA US High Yield Index while HYS tracks the ICE BofA US High Yield Constrained (0-5 Y). Both are passively managed. Over the past 5 years, BBHY returned 3.99%/yr vs 5.00%/yr for HYS. Their correlation of 0.81 suggests significant overlap in exposure. BBHY charges 0.15%/yr vs 0.56%/yr for HYS.
Performance
BBHY vs. HYS - Performance Comparison
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Returns By Period
In the year-to-date period, BBHY achieves a 1.90% return, which is significantly higher than HYS's 1.54% return.
BBHY
- 1D
- 0.10%
- 1M
- 0.29%
- YTD
- 1.90%
- 6M
- 1.89%
- 1Y
- 6.28%
- 3Y*
- 8.81%
- 5Y*
- 3.99%
- 10Y*
- —
HYS
- 1D
- 0.03%
- 1M
- 0.25%
- YTD
- 1.54%
- 6M
- 1.56%
- 1Y
- 6.27%
- 3Y*
- 8.66%
- 5Y*
- 5.00%
- 10Y*
- 5.54%
BBHY vs. HYS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 1.90% | 8.51% | 7.81% | 11.98% | -10.37% | 3.88% | 5.36% | 14.35% | -2.50% | 6.57% |
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 1.54% | 8.80% | 8.42% | 11.38% | -5.42% | 4.77% | 3.27% | 10.22% | -1.05% | 5.75% |
Correlation
The correlation between BBHY and HYS is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016 | 0.81 |
The correlation between BBHY and HYS shifts across timeframes, from 0.81 (all time) to 0.93 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BBHY vs. HYS — Risk / Return Rank
BBHY
HYS
BBHY vs. HYS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) and PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS). 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.
| BBHY | HYS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.34 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 3.34 | -0.69 |
| Martin ratioReturn relative to average drawdown | 11.84 | 13.57 | -1.73 |
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Drawdowns
BBHY vs. HYS - Drawdown Comparison
The maximum BBHY drawdown since its inception was -24.98%, which is greater than HYS's maximum drawdown of -20.91%. Use the drawdown chart below to compare losses from any high point for BBHY and HYS.
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Drawdown Indicators
| BBHY | HYS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.98% | -20.91% | -4.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.37% | -1.88% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -5.00% | -4.98% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -15.32% | -10.61% | -4.71% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.91% | — |
Current DrawdownCurrent decline from peak | -0.13% | -0.16% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -2.36% | -1.53% | -0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 0.46% | +0.07% |
Volatility
BBHY vs. HYS - Volatility Comparison
JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) has a higher volatility of 1.00% compared to PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) at 0.71%. This indicates that BBHY's price experiences larger fluctuations and is considered to be riskier than HYS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBHY | HYS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 0.71% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 2.75% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.67% | 3.47% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.28% | 6.27% | +1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.51% | 6.83% | +0.68% |
BBHY vs. HYS - Expense Ratio Comparison
BBHY has a 0.15% expense ratio, which is lower than HYS's 0.56% expense ratio.
Dividends
BBHY vs. HYS - Dividend Comparison
BBHY's dividend yield for the trailing twelve months is around 6.92%, less than HYS's 7.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 6.92% | 7.24% | 7.18% | 6.49% | 5.92% | 4.06% | 4.73% | 4.99% | 5.02% | 4.81% | 1.42% | 0.00% |
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 7.34% | 7.20% | 7.43% | 6.44% | 5.01% | 3.74% | 4.52% | 4.98% | 4.64% | 5.01% | 5.13% | 5.22% |
Frequently Asked Questions
With a correlation of 0.91, BBHY and HYS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BBHY has higher volatility (1.00%) compared to HYS (0.71%). In terms of maximum drawdown, BBHY dropped -24.98% vs HYS's -20.91%.
On 5-year performance, HYS leads with 5.00% vs 3.99% for BBHY. On fees, BBHY is cheaper at 0.15% per year. On volatility, HYS has been the lower-risk option at 0.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYS has performed better with a 5.00% return vs 3.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBHY is cheaper with a 0.15% expense ratio, compared with 0.56% for HYS.
HYS has the higher dividend yield at 7.34%, compared with 6.92% for BBHY.
BBHY tracks ICE BofA US High Yield Index, while HYS tracks ICE BofA US High Yield Constrained (0-5 Y). They also come from different issuers: JPMorgan and PIMCO. Their fees differ too: 0.15% for BBHY and 0.56% for HYS.
HYS currently has the higher Sharpe Ratio (1.82 vs 1.72), 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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