BKHY vs. BBHY
BKHY (BNY Mellon High Yield Beta ETF) and BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - BKHY tracks the Bloomberg US Corporate High Yield Index while BBHY tracks the ICE BofA US High Yield Index. Both are passively managed. Over the past 5 years, BKHY returned 4.19%/yr vs 4.12%/yr for BBHY. Their correlation of 0.93 suggests significant overlap in exposure. BKHY charges 0.22%/yr vs 0.15%/yr for BBHY.
Performance
BKHY vs. BBHY - Performance Comparison
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Returns By Period
In the year-to-date period, BKHY achieves a 1.83% return, which is significantly higher than BBHY's 1.73% return.
BKHY
- 1D
- 0.10%
- 1M
- 0.54%
- YTD
- 1.83%
- 6M
- 2.02%
- 1Y
- 7.19%
- 3Y*
- 8.93%
- 5Y*
- 4.19%
- 10Y*
- —
BBHY
- 1D
- 0.15%
- 1M
- 0.49%
- YTD
- 1.73%
- 6M
- 2.18%
- 1Y
- 7.10%
- 3Y*
- 8.76%
- 5Y*
- 4.12%
- 10Y*
- —
BKHY vs. BBHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BKHY BNY Mellon High Yield Beta ETF | 1.83% | 8.48% | 8.37% | 12.40% | -10.97% | 4.75% | 17.83% |
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 1.73% | 8.51% | 7.81% | 11.98% | -10.37% | 3.88% | 16.15% |
Correlation
The correlation between BKHY and BBHY is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020 | 0.93 |
The correlation between BKHY and BBHY has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
BKHY vs. BBHY — Risk / Return Rank
BKHY
BBHY
BKHY vs. BBHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon High Yield Beta ETF (BKHY) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). 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.
| BKHY | BBHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.39 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 3.00 | -0.15 |
| Martin ratioReturn relative to average drawdown | 13.14 | 13.50 | -0.36 |
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
| BKHY | BBHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.96 | 1.97 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.57 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.64 | +0.26 |
Drawdowns
BKHY vs. BBHY - Drawdown Comparison
The maximum BKHY drawdown since its inception was -15.89%, smaller than the maximum BBHY drawdown of -24.98%. Use the drawdown chart below to compare losses from any high point for BKHY and BBHY.
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Drawdown Indicators
| BKHY | BBHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.89% | -24.98% | +9.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -2.37% | -0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -4.87% | -5.00% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -15.89% | -15.32% | -0.57% |
Current DrawdownCurrent decline from peak | -0.17% | -0.14% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -2.37% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.53% | +0.02% |
Volatility
BKHY vs. BBHY - Volatility Comparison
BNY Mellon High Yield Beta ETF (BKHY) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) have volatilities of 1.12% and 1.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BKHY | BBHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.13% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 2.85% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.69% | 3.62% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 7.26% | +0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.36% | 7.53% | -0.17% |
BKHY vs. BBHY - Expense Ratio Comparison
BKHY has a 0.22% expense ratio, which is higher than BBHY's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BKHY vs. BBHY - Dividend Comparison
BKHY's dividend yield for the trailing twelve months is around 7.46%, more than BBHY's 6.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 6.94% | 7.24% | 7.18% | 6.49% | 5.92% | 4.06% | 4.73% | 4.99% | 5.02% | 4.81% | 1.42% |
BKHY BNY Mellon High Yield Beta ETF | 7.46% | 7.33% | 7.34% | 8.67% | 6.59% | 6.78% | 4.65% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, BKHY and BBHY 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 (1.13%) compared to BKHY (1.12%). In terms of maximum drawdown, BKHY dropped -15.89% vs BBHY's -24.98%.
On 5-year performance, BKHY leads with 4.19% vs 4.12% for BBHY. On fees, BBHY is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BKHY has performed better with a 4.19% return vs 4.12%. 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 0.22% for BKHY.
BKHY has the higher dividend yield at 7.46%, compared with 6.94% for BBHY.
BKHY tracks Bloomberg US Corporate High Yield Index, while BBHY tracks ICE BofA US High Yield Index. They also come from different issuers: BNY Mellon and JPMorgan. Their fees differ too: 0.22% for BKHY and 0.15% for BBHY.
BBHY currently has the higher Sharpe Ratio (1.97 vs 1.96), 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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