BSJV vs. PGHY
BSJV (Invesco BulletShares 2031 High Yield Corporate Bond ETF) and PGHY (Invesco Global Short Term High Yield Bond ETF) are both High Yield Bonds funds from Invesco - BSJV tracks the NASDAQ BulletShares USD Corporate Bond 2031 while PGHY tracks the DB Global Short Maturity High Yield Bond Index. Both are passively managed. Over the past year, BSJV returned 5.61% vs 7.00% for PGHY. A 0.52 correlation means they provide meaningful diversification when combined. BSJV charges 0.42%/yr vs 0.35%/yr for PGHY.
Performance
BSJV vs. PGHY - Performance Comparison
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Returns By Period
In the year-to-date period, BSJV achieves a 1.05% return, which is significantly lower than PGHY's 2.77% return.
BSJV
- 1D
- 0.00%
- 1M
- 0.08%
- YTD
- 1.05%
- 6M
- 1.26%
- 1Y
- 5.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PGHY
- 1D
- -0.08%
- 1M
- 0.58%
- YTD
- 2.77%
- 6M
- 2.48%
- 1Y
- 7.00%
- 3Y*
- 8.88%
- 5Y*
- 4.62%
- 10Y*
- 4.42%
BSJV vs. PGHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BSJV Invesco BulletShares 2031 High Yield Corporate Bond ETF | 1.05% | 9.50% | 5.66% | 7.24% |
PGHY Invesco Global Short Term High Yield Bond ETF | 2.77% | 8.88% | 8.39% | 4.74% |
Correlation
The correlation between BSJV and PGHY is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2023 | 0.52 |
The correlation between BSJV and PGHY shifts across timeframes, from 0.41 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BSJV vs. PGHY — Risk / Return Rank
BSJV
PGHY
BSJV vs. PGHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2031 High Yield Corporate Bond ETF (BSJV) and Invesco Global Short Term High Yield Bond ETF (PGHY). 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.
| BSJV | PGHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 2.31 | -0.56 |
| Martin ratioReturn relative to average drawdown | 7.48 | 8.85 | -1.37 |
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Drawdowns
BSJV vs. PGHY - Drawdown Comparison
The maximum BSJV drawdown since its inception was -5.22%, smaller than the maximum PGHY drawdown of -20.50%. Use the drawdown chart below to compare losses from any high point for BSJV and PGHY.
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Drawdown Indicators
| BSJV | PGHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.22% | -20.50% | +15.28% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -3.04% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.03% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.50% | — |
Current DrawdownCurrent decline from peak | -0.46% | -0.33% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -0.78% | -1.64% | +0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.79% | -0.04% |
Volatility
BSJV vs. PGHY - Volatility Comparison
The current volatility for Invesco BulletShares 2031 High Yield Corporate Bond ETF (BSJV) is 1.16%, while Invesco Global Short Term High Yield Bond ETF (PGHY) has a volatility of 1.98%. This indicates that BSJV experiences smaller price fluctuations and is considered to be less risky than PGHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSJV | PGHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.98% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 3.43% | 3.92% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 5.17% | -0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.13% | 5.48% | +0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.13% | 7.03% | -0.90% |
BSJV vs. PGHY - Expense Ratio Comparison
BSJV has a 0.42% expense ratio, which is higher than PGHY's 0.35% expense ratio.
Dividends
BSJV vs. PGHY - Dividend Comparison
BSJV's dividend yield for the trailing twelve months is around 6.61%, less than PGHY's 7.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSJV Invesco BulletShares 2031 High Yield Corporate Bond ETF | 6.61% | 6.52% | 6.67% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PGHY Invesco Global Short Term High Yield Bond ETF | 7.11% | 7.24% | 7.49% | 7.87% | 5.12% | 5.17% | 5.45% | 5.32% | 5.45% | 5.52% | 6.26% | 4.60% |
Frequently Asked Questions
BSJV and PGHY have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGHY has higher volatility (1.98%) compared to BSJV (1.16%). In terms of maximum drawdown, BSJV dropped -5.22% vs PGHY's -20.50%.
On 1-year performance, PGHY leads with 7.00% vs 5.61% for BSJV. On fees, PGHY is cheaper at 0.35% per year. On volatility, BSJV has been the lower-risk option at 1.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PGHY has performed better with a 7.00% return vs 5.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PGHY is cheaper with a 0.35% expense ratio, compared with 0.42% for BSJV.
PGHY has the higher dividend yield at 7.11%, compared with 6.61% for BSJV.
BSJV tracks NASDAQ BulletShares USD Corporate Bond 2031, while PGHY tracks DB Global Short Maturity High Yield Bond Index. Their fees differ too: 0.42% for BSJV and 0.35% for PGHY.
PGHY currently has the higher Sharpe Ratio (1.36 vs 1.29), 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.
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