BKHY vs. THY

Last updated Jun 26, 2026

BKHY (BNY Mellon High Yield Beta ETF) and THY (Agility Shares Dynamic Tactical Income ETF) are both High Yield Bonds funds. BKHY is passively managed, while THY is actively managed. Over the past 5 years, BKHY returned 4.01%/yr vs 1.65%/yr for THY. A 0.69 correlation means they provide meaningful diversification when combined. BKHY charges 0.22%/yr vs 1.36%/yr for THY.

Performance

BKHY vs. THY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon High Yield Beta ETF (BKHY) and Agility Shares Dynamic Tactical Income ETF (THY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKHY achieves a 1.96% return, which is significantly higher than THY's 0.78% return.

BKHY

• 1D: 0.14%
• 1M: 0.28%
• YTD: 1.96%
• 6M: 1.96%
• 1Y: 6.55%
• 3Y*: 9.00%
• 5Y*: 4.01%
• 10Y*: —

THY

• 1D: 0.00%
• 1M: 0.28%
• YTD: 0.78%
• 6M: 0.89%
• 1Y: 3.28%
• 3Y*: 5.38%
• 5Y*: 1.65%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BKHY vs. THY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BKHY BNY Mellon High Yield Beta ETF	1.96%	8.48%	8.37%	12.40%	-10.97%	4.75%	11.12%
THY Agility Shares Dynamic Tactical Income ETF	0.78%	4.44%	5.38%	4.97%	-5.62%	-0.46%	3.50%

Correlation

The correlation between BKHY and THY is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jun 25, 2020	0.69

The correlation between BKHY and THY has been stable across timeframes, ranging from 0.66 to 0.76 - a consistent structural relationship.

Return for Risk

BKHY vs. THY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BKHY

BKHY Risk / Return Rank: 65
BKHY Sharpe Ratio Rank: 60
BKHY Sortino Ratio Rank: 67
BKHY Omega Ratio Rank: 67
BKHY Calmar Ratio Rank: 60
BKHY Martin Ratio Rank: 72

THY

THY Risk / Return Rank: 36
THY Sharpe Ratio Rank: 33
THY Sortino Ratio Rank: 33
THY Omega Ratio Rank: 31
THY Calmar Ratio Rank: 47
THY Martin Ratio Rank: 35

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BKHY vs. THY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon High Yield Beta ETF (BKHY) and Agility Shares Dynamic Tactical Income ETF (THY). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BKHY	THY	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.11	+0.65
Sortino ratio: Return per unit of downside risk	2.66	1.63	+1.03
Omega ratio: Gain probability vs. loss probability	1.35	1.20	+0.15
Calmar ratio: Return relative to maximum drawdown	2.60	2.05	+0.55
Martin ratio: Return relative to average drawdown	11.84	4.85	+6.99

BKHY vs. THY - Sharpe Ratio Comparison

The current BKHY Sharpe Ratio is 1.77, which is higher than the THY Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of BKHY and THY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BKHY vs. THY - Drawdown Comparison

The maximum BKHY drawdown since its inception was -15.89%, which is greater than THY's maximum drawdown of -8.56%. Use the drawdown chart below to compare losses from any high point for BKHY and THY.

Drawdown Indicators

	BKHY	THY	Difference
Max Drawdown Largest peak-to-trough decline	-15.89%	-8.56%	-7.33%
Max Drawdown (1Y) Largest decline over 1 year	-2.53%	-1.60%	-0.93%
Max Drawdown (3Y) Largest decline over 3 years	-4.87%	-2.74%	-2.13%
Max Drawdown (5Y) Largest decline over 5 years	-15.89%	-8.56%	-7.33%
Current Drawdown Current decline from peak	-0.24%	-0.50%	+0.26%
Average Drawdown Average peak-to-trough decline	-2.95%	-2.60%	-0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	0.68%	-0.13%

Volatility

BKHY vs. THY - Volatility Comparison

BNY Mellon High Yield Beta ETF (BKHY) and Agility Shares Dynamic Tactical Income ETF (THY) have volatilities of 0.90% and 0.91%, 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.

Volatility by Period

	BKHY	THY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	0.91%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	3.03%	1.94%	+1.09%
Volatility (1Y) Calculated over the trailing 1-year period	3.72%	2.96%	+0.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.59%	4.56%	+3.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.34%	4.47%	+2.87%

BKHY vs. THY - Expense Ratio Comparison

BKHY has a 0.22% expense ratio, which is lower than THY's 1.36% expense ratio.

Dividends

BKHY vs. THY - Dividend Comparison

BKHY's dividend yield for the trailing twelve months is around 7.45%, more than THY's 5.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BKHY BNY Mellon High Yield Beta ETF	7.45%	7.33%	7.34%	8.67%	6.59%	6.78%	4.65%
THY Agility Shares Dynamic Tactical Income ETF	5.43%	6.00%	5.09%	4.59%	2.56%	3.46%	2.53%

Frequently Asked Questions

Can I hold both BKHY and THY in my portfolio?

BKHY and THY have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKHY or THY?

THY has higher volatility (0.91%) compared to BKHY (0.90%). In terms of maximum drawdown, BKHY dropped -15.89% vs THY's -8.56%.

Which ETF is better, BKHY or THY?

On 5-year performance, BKHY leads with 4.01% vs 1.65% for THY. On fees, BKHY is cheaper at 0.22% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKHY or THY?

Over the 5-year period, BKHY has performed better with a 4.01% return vs 1.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKHY or THY?

BKHY is cheaper with a 0.22% expense ratio, compared with 1.36% for THY.

Which ETF pays a higher dividend yield, BKHY or THY?

BKHY has the higher dividend yield at 7.45%, compared with 5.43% for THY.

What is the main difference between BKHY and THY?

They also come from different issuers: BNY Mellon and Toews Corp.. Their fees differ too: 0.22% for BKHY and 1.36% for THY.

Which has better risk-adjusted returns?

BKHY currently has the higher Sharpe Ratio (1.77 vs 1.11), 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.