BRHY vs. PHYD
BRHY (iShares High Yield Active ETF) and PHYD (Putnam ESG High Yield ETF -) are both High Yield Bonds funds. Both are actively managed. A 0.75 correlation means they provide meaningful diversification when combined. BRHY charges 0.45%/yr vs 0.55%/yr for PHYD.
Performance
BRHY vs. PHYD - Performance Comparison
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Returns By Period
BRHY
- 1D
- 0.14%
- 1M
- 0.50%
- 6M
- 1.77%
- YTD
- 2.25%
- 1Y
- 6.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PHYD
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BRHY vs. PHYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BRHY iShares High Yield Active ETF | 2.25% | 9.74% | 5.16% |
PHYD Putnam ESG High Yield ETF - | 2.32% | 8.84% | 5.03% |
Correlation
The correlation between BRHY and PHYD 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 (All Time) Calculated using the full available price history since Jun 18, 2024 | 0.75 |
The correlation between BRHY and PHYD has been stable across timeframes, ranging from 0.74 to 0.75 - a consistent structural relationship.
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Return for Risk
BRHY vs. PHYD — Risk / Return Rank
BRHY
PHYD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BRHY vs. PHYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Active ETF (BRHY) and Putnam ESG High Yield ETF - (PHYD). 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.
| BRHY | PHYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.42 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | — | — |
| Martin ratioReturn relative to average drawdown | 11.30 | — | — |
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Drawdowns
BRHY vs. PHYD - Drawdown Comparison
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Drawdown Indicators
| BRHY | PHYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.42% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | — | — |
Current DrawdownCurrent decline from peak | -0.19% | — | — |
Average DrawdownAverage peak-to-trough decline | -0.38% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | — | — |
Volatility
BRHY vs. PHYD - Volatility Comparison
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Volatility by Period
| BRHY | PHYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.56% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.97% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.97% | — | — |
BRHY vs. PHYD - Expense Ratio Comparison
BRHY has a 0.45% expense ratio, which is lower than PHYD's 0.55% expense ratio.
Dividends
BRHY vs. PHYD - Dividend Comparison
BRHY's dividend yield for the trailing twelve months is around 7.56%, while PHYD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BRHY iShares High Yield Active ETF | 7.56% | 7.97% | 4.27% | 0.00% |
PHYD Putnam ESG High Yield ETF - | 8.52% | 6.63% | 6.80% | 6.15% |
Frequently Asked Questions
BRHY and PHYD 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.
On fees, BRHY is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BRHY is cheaper with a 0.45% expense ratio, compared with 0.55% for PHYD.
PHYD has the higher dividend yield at 8.52%, compared with 7.56% for BRHY.
They also come from different issuers: iShares and Putnam. Their fees differ too: 0.45% for BRHY and 0.55% for PHYD.
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