BKHY vs. HYGW
Compare and contrast key facts about BNY Mellon High Yield Beta ETF (BKHY) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW).
BKHY and HYGW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BKHY is a passively managed fund by BNY Mellon that tracks the performance of the Bloomberg US Corporate High Yield Index. It was launched on Apr 24, 2020. HYGW is a passively managed fund by iShares that tracks the performance of the Cboe HYG BuyWrite Index. It was launched on Aug 18, 2022. Both BKHY and HYGW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BKHY vs. HYGW - Performance Comparison
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BKHY vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BKHY BNY Mellon High Yield Beta ETF | 0.09% | 8.48% | 8.37% | 12.40% | -0.60% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 0.37% | 6.19% | 6.99% | 7.31% | -0.12% |
Returns By Period
In the year-to-date period, BKHY achieves a 0.09% return, which is significantly lower than HYGW's 0.37% return.
BKHY
- 1D
- 0.08%
- 1M
- -0.34%
- YTD
- 0.09%
- 6M
- 1.11%
- 1Y
- 6.98%
- 3Y*
- 8.36%
- 5Y*
- 4.09%
- 10Y*
- —
HYGW
- 1D
- 0.04%
- 1M
- -0.16%
- YTD
- 0.37%
- 6M
- 2.03%
- 1Y
- 5.42%
- 3Y*
- 5.63%
- 5Y*
- —
- 10Y*
- —
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BKHY vs. HYGW - Expense Ratio Comparison
BKHY has a 0.22% expense ratio, which is lower than HYGW's 0.69% expense ratio.
Return for Risk
BKHY vs. HYGW — Risk / Return Rank
BKHY
HYGW
BKHY vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon High Yield Beta ETF (BKHY) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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 | HYGW | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.21 | 1.28 | -0.07 |
Sortino ratioReturn per unit of downside risk | 1.68 | 1.76 | -0.08 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.31 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.70 | +0.02 |
Martin ratioReturn relative to average drawdown | 8.73 | 8.93 | -0.21 |
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 | HYGW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.21 | 1.28 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 1.21 | -0.33 |
Correlation
The correlation between BKHY and HYGW is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BKHY vs. HYGW - Dividend Comparison
BKHY's dividend yield for the trailing twelve months is around 7.72%, less than HYGW's 12.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BKHY BNY Mellon High Yield Beta ETF | 7.72% | 7.33% | 7.34% | 8.67% | 6.59% | 6.78% | 4.65% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 12.82% | 12.53% | 12.30% | 15.98% | 8.71% | 0.00% | 0.00% |
Drawdowns
BKHY vs. HYGW - Drawdown Comparison
The maximum BKHY drawdown since its inception was -15.89%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for BKHY and HYGW.
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Drawdown Indicators
| BKHY | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.89% | -5.49% | -10.40% |
Max Drawdown (1Y)Largest decline over 1 year | -3.12% | -2.42% | -0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -15.89% | — | — |
Current DrawdownCurrent decline from peak | -1.03% | -0.70% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -3.05% | -0.63% | -2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.61% | +0.22% |
Volatility
BKHY vs. HYGW - Volatility Comparison
BNY Mellon High Yield Beta ETF (BKHY) has a higher volatility of 2.30% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 1.66%. This indicates that BKHY's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BKHY | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 1.66% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 2.38% | +0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.79% | 4.25% | +1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.56% | 4.76% | +2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.44% | 4.76% | +2.68% |