BSCN vs. SHYG
Compare and contrast key facts about Invesco BulletShares 2023 Corporate Bond ETF (BSCN) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG).
BSCN and SHYG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BSCN is a passively managed fund by Invesco that tracks the performance of the NASDAQ BulletShares USD Corporate Bond 2023 TR Index. It was launched on Sep 17, 2014. SHYG is a passively managed fund by iShares that tracks the performance of the Markit iBoxx USD Liquid High Yield 0-5 Index. It was launched on Oct 15, 2013. Both BSCN and SHYG 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: BSCN or SHYG.
Key characteristics
| BSCN | SHYG | |
|---|---|---|
| YTD Return | 1.88% | 2.59% |
| 1Y Return | 2.42% | 0.93% |
| 5Y Return (Ann) | 3.26% | 2.71% |
| 10Y Return (Ann) | 3.90% | 3.13% |
| Sharpe Ratio | 2.41 | 0.04 |
| Daily Std Dev | 1.00% | 9.16% |
| Max Drawdown | -15.79% | -19.26% |
Correlation
The correlation between BSCN and SHYG is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
BSCN vs. SHYG - Performance Comparison
In the year-to-date period, BSCN achieves a 1.88% return, which is significantly lower than SHYG's 2.59% return. Over the past 10 years, BSCN has outperformed SHYG with an annualized return of 3.90%, while SHYG has yielded a comparatively lower 3.13% annualized 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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BSCN vs. SHYG - Dividend Comparison
BSCN's dividend yield for the trailing twelve months is around 2.60%, less than SHYG's 7.32% yield.
| TTM | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
BSCN Invesco BulletShares 2023 Corporate Bond ETF | 2.60% | 1.52% | 1.88% | 2.47% | 3.13% | 3.18% | 3.25% | 3.75% | 3.64% | 7.29% | 0.00% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 7.32% | 5.14% | 5.19% | 5.72% | 6.33% | 7.39% | 7.28% | 7.75% | 7.66% | 6.74% | 1.38% |
BSCN vs. SHYG - Expense Ratio Comparison
BSCN vs. SHYG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2023 Corporate Bond ETF (BSCN) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). 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.
| Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Ulcer Index | |
|---|---|---|---|---|---|
BSCN Invesco BulletShares 2023 Corporate Bond ETF | 2.41 | ||||
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 0.04 |
BSCN vs. SHYG - Drawdown Comparison
The maximum BSCN drawdown for the period was -1.56%, higher than the maximum SHYG drawdown of -6.66%. The drawdown chart below compares losses from any high point along the way for BSCN and SHYG
BSCN vs. SHYG - Volatility Comparison
The current volatility for Invesco BulletShares 2023 Corporate Bond ETF (BSCN) is 0.17%, while iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) has a volatility of 1.44%. This indicates that BSCN experiences smaller price fluctuations and is considered to be less risky than SHYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.