BGT vs. HYG
BGT (BlackRock Floating Rate Income Trust) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both funds - BGT is a Bank Loan fund managed by BlackRock, while HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index. Over the past 10 years, BGT returned 6.15%/yr vs 4.91%/yr for HYG. At a 0.31 correlation, their price movements are largely independent. BGT charges 1.74%/yr vs 0.49%/yr for HYG.
Performance
BGT vs. HYG - Performance Comparison
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Returns By Period
In the year-to-date period, BGT achieves a -0.68% return, which is significantly lower than HYG's 1.51% return. Over the past 10 years, BGT has outperformed HYG with an annualized return of 6.15%, while HYG has yielded a comparatively lower 4.91% annualized return.
BGT
- 1D
- -0.19%
- 1M
- -1.40%
- YTD
- -0.68%
- 6M
- 0.92%
- 1Y
- -1.74%
- 3Y*
- 10.12%
- 5Y*
- 6.85%
- 10Y*
- 6.15%
HYG
- 1D
- 0.19%
- 1M
- 0.40%
- YTD
- 1.51%
- 6M
- 1.84%
- 1Y
- 6.51%
- 3Y*
- 8.57%
- 5Y*
- 3.81%
- 10Y*
- 4.91%
BGT vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BGT BlackRock Floating Rate Income Trust | -0.68% | -0.84% | 16.12% | 26.29% | -16.57% | 25.89% | -0.81% | 18.97% | -11.95% | 3.91% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.51% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
Correlation
The correlation between BGT and HYG is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2007 | 0.31 |
The correlation between BGT and HYG shifts across timeframes, from 0.19 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BGT vs. HYG — Risk / Return Rank
BGT
HYG
BGT vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Floating Rate Income Trust (BGT) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
| BGT | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.76 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.33 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 2.79 | -2.95 |
| Martin ratioReturn relative to average drawdown | -0.35 | 12.34 | -12.69 |
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
| BGT | HYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.17 | 1.72 | -1.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.51 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.59 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.46 | -0.17 |
Drawdowns
BGT vs. HYG - Drawdown Comparison
The maximum BGT drawdown since its inception was -58.06%, which is greater than HYG's maximum drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for BGT and HYG.
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Drawdown Indicators
| BGT | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.06% | -34.25% | -23.81% |
Max Drawdown (1Y)Largest decline over 1 year | -11.06% | -2.34% | -8.72% |
Max Drawdown (3Y)Largest decline over 3 years | -15.91% | -4.56% | -11.35% |
Max Drawdown (5Y)Largest decline over 5 years | -23.19% | -15.79% | -7.40% |
Max Drawdown (10Y)Largest decline over 10 years | -41.90% | -22.03% | -19.87% |
Current DrawdownCurrent decline from peak | -6.73% | -0.09% | -6.64% |
Average DrawdownAverage peak-to-trough decline | -8.12% | -3.24% | -4.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.01% | 0.53% | +4.48% |
Volatility
BGT vs. HYG - Volatility Comparison
BlackRock Floating Rate Income Trust (BGT) has a higher volatility of 1.48% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 1.21%. This indicates that BGT's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGT | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.21% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 7.13% | 3.01% | +4.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.35% | 3.81% | +6.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.57% | 7.53% | +6.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.34% | 8.29% | +7.05% |
BGT vs. HYG - Expense Ratio Comparison
BGT has a 1.74% expense ratio, which is higher than HYG's 0.49% expense ratio.
Dividends
BGT vs. HYG - Dividend Comparison
BGT's dividend yield for the trailing twelve months is around 13.54%, more than HYG's 5.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGT BlackRock Floating Rate Income Trust | 13.54% | 12.74% | 11.22% | 10.36% | 6.87% | 5.55% | 7.58% | 6.33% | 6.64% | 5.03% | 5.03% | 6.04% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.91% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
Frequently Asked Questions
BGT and HYG have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGT has higher volatility (1.48%) compared to HYG (1.21%). In terms of maximum drawdown, BGT dropped -58.06% vs HYG's -34.25%.
HYG currently has the higher Sharpe Ratio (1.72 vs -0.17), 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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