BKHY vs. HYZD
Compare and contrast key facts about BNY Mellon High Yield Beta ETF (BKHY) and WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD).
BKHY and HYZD 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 The Bank of New York Mellon Corp. that tracks the performance of the Bloomberg US Corporate High Yield Index. It was launched on Apr 24, 2020. HYZD is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. It was launched on Dec 18, 2013. Both BKHY and HYZD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BKHY or HYZD.
Key characteristics
| BKHY | HYZD | |
|---|---|---|
| YTD Return | 7.93% | 8.51% |
| 1Y Return | 13.53% | 11.75% |
| 3Y Return (Ann) | 2.65% | 5.91% |
| Sharpe Ratio | 2.94 | 2.63 |
| Sortino Ratio | 4.62 | 4.02 |
| Omega Ratio | 1.57 | 1.51 |
| Calmar Ratio | 2.36 | 4.37 |
| Martin Ratio | 24.88 | 25.02 |
| Ulcer Index | 0.53% | 0.47% |
| Daily Std Dev | 4.52% | 4.44% |
| Max Drawdown | -15.89% | -25.66% |
| Current Drawdown | -0.52% | 0.00% |
Correlation
The correlation between BKHY and HYZD is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
BKHY vs. HYZD - Performance Comparison
In the year-to-date period, BKHY achieves a 7.93% return, which is significantly lower than HYZD's 8.51% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BKHY vs. HYZD - Expense Ratio Comparison
BKHY has a 0.22% expense ratio, which is lower than HYZD's 0.43% expense ratio.
Risk-Adjusted Performance
BKHY vs. HYZD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon High Yield Beta ETF (BKHY) and WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD). 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.
Dividends
BKHY vs. HYZD - Dividend Comparison
BKHY's dividend yield for the trailing twelve months is around 7.02%, more than HYZD's 6.13% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKHY BNY Mellon High Yield Beta ETF | 7.02% | 8.67% | 6.59% | 6.78% | 4.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 6.13% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% | 3.82% | 0.10% |
Drawdowns
BKHY vs. HYZD - Drawdown Comparison
The maximum BKHY drawdown since its inception was -15.89%, smaller than the maximum HYZD drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for BKHY and HYZD. For additional features, visit the drawdowns tool.
Volatility
BKHY vs. HYZD - Volatility Comparison
The current volatility for BNY Mellon High Yield Beta ETF (BKHY) is 0.86%, while WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) has a volatility of 1.09%. This indicates that BKHY experiences smaller price fluctuations and is considered to be less risky than HYZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.