BHYB vs. HYHG
BHYB (Xtrackers USD High Yield BB-B ex Financials ETF) and HYHG (ProShares High Yield-Interest Rate Hedged) are both High Yield Bonds funds - BHYB tracks the ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross while HYHG tracks the Citi High Yield (Treasury Rate-Hedged) Index. Both are passively managed. Over the past year, BHYB returned 7.27% vs 7.52% for HYHG. At a 0.39 correlation, their price movements are largely independent. BHYB charges 0.20%/yr vs 0.50%/yr for HYHG.
Performance
BHYB vs. HYHG - Performance Comparison
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Returns By Period
In the year-to-date period, BHYB achieves a 1.84% return, which is significantly lower than HYHG's 3.03% return.
BHYB
- 1D
- 0.16%
- 1M
- 0.50%
- YTD
- 1.84%
- 6M
- 2.25%
- 1Y
- 7.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYHG
- 1D
- 0.12%
- 1M
- 0.64%
- YTD
- 3.03%
- 6M
- 3.57%
- 1Y
- 7.52%
- 3Y*
- 9.78%
- 5Y*
- 6.99%
- 10Y*
- 6.12%
BHYB vs. HYHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 1.84% | 8.90% | 6.44% | 8.23% |
HYHG ProShares High Yield-Interest Rate Hedged | 3.03% | 5.31% | 11.41% | 5.27% |
Correlation
The correlation between BHYB and HYHG is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2023 | 0.39 |
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Return for Risk
BHYB vs. HYHG — Risk / Return Rank
BHYB
HYHG
BHYB vs. HYHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers USD High Yield BB-B ex Financials ETF (BHYB) and ProShares High Yield-Interest Rate Hedged (HYHG). 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.
| BHYB | HYHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.24 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 3.74 | -0.53 |
| Martin ratioReturn relative to average drawdown | 14.74 | 12.28 | +2.45 |
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
| BHYB | HYHG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.15 | 1.36 | +0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.86 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.12 | 0.46 | +1.65 |
Drawdowns
BHYB vs. HYHG - Drawdown Comparison
The maximum BHYB drawdown since its inception was -4.23%, smaller than the maximum HYHG drawdown of -25.71%. Use the drawdown chart below to compare losses from any high point for BHYB and HYHG.
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Drawdown Indicators
| BHYB | HYHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.23% | -25.71% | +21.48% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -2.02% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.47% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.21% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.71% | — |
Current DrawdownCurrent decline from peak | -0.06% | -0.32% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -0.40% | -3.04% | +2.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 0.61% | -0.12% |
Volatility
BHYB vs. HYHG - Volatility Comparison
The current volatility for Xtrackers USD High Yield BB-B ex Financials ETF (BHYB) is 1.02%, while ProShares High Yield-Interest Rate Hedged (HYHG) has a volatility of 1.42%. This indicates that BHYB experiences smaller price fluctuations and is considered to be less risky than HYHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BHYB | HYHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 1.42% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 4.30% | -1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 5.56% | -2.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.70% | 8.16% | -3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 9.15% | -4.45% |
BHYB vs. HYHG - Expense Ratio Comparison
BHYB has a 0.20% expense ratio, which is lower than HYHG's 0.50% expense ratio.
Dividends
BHYB vs. HYHG - Dividend Comparison
BHYB's dividend yield for the trailing twelve months is around 6.32%, less than HYHG's 6.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 6.32% | 6.57% | 7.04% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYHG ProShares High Yield-Interest Rate Hedged | 6.78% | 6.97% | 6.57% | 6.07% | 5.58% | 4.54% | 5.21% | 6.06% | 6.45% | 5.57% | 5.37% | 6.37% |
Frequently Asked Questions
BHYB and HYHG have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYHG has higher volatility (1.42%) compared to BHYB (1.02%). In terms of maximum drawdown, BHYB dropped -4.23% vs HYHG's -25.71%.
On 1-year performance, HYHG leads with 7.52% vs 7.27% for BHYB. On fees, BHYB is cheaper at 0.20% per year. On volatility, BHYB has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYHG has performed better with a 7.52% return vs 7.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BHYB is cheaper with a 0.20% expense ratio, compared with 0.50% for HYHG.
HYHG has the higher dividend yield at 6.78%, compared with 6.32% for BHYB.
BHYB tracks ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross, while HYHG tracks Citi High Yield (Treasury Rate-Hedged) Index. They also come from different issuers: Xtrackers and ProShares. Their fees differ too: 0.20% for BHYB and 0.50% for HYHG.
BHYB currently has the higher Sharpe Ratio (2.15 vs 1.36), 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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