BSJW vs. USHY
BSJW (Invesco BulletShares 2032 High Yield Corporate Bond ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - BSJW tracks the Nasdaq BulletShares USD High Yield Corporate Bond 2032 Index while USHY tracks the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past year, BSJW returned 6.11% vs 6.34% for USHY. Their correlation of 0.94 suggests significant overlap in exposure. BSJW charges 0.42%/yr vs 0.15%/yr for USHY.
Performance
BSJW vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, BSJW achieves a 0.98% return, which is significantly lower than USHY's 1.70% return.
BSJW
- 1D
- 0.04%
- 1M
- 0.50%
- YTD
- 0.98%
- 6M
- 1.21%
- 1Y
- 6.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USHY
- 1D
- -0.08%
- 1M
- 0.48%
- YTD
- 1.70%
- 6M
- 1.87%
- 1Y
- 6.34%
- 3Y*
- 9.18%
- 5Y*
- 4.15%
- 10Y*
- —
BSJW vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BSJW Invesco BulletShares 2032 High Yield Corporate Bond ETF | 0.98% | 9.85% | 3.62% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.70% | 8.81% | 5.63% |
Correlation
The correlation between BSJW and USHY is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2024 | 0.94 |
The correlation between BSJW and USHY has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
BSJW vs. USHY — Risk / Return Rank
BSJW
USHY
BSJW vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2032 High Yield Corporate Bond ETF (BSJW) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.
| BSJW | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.33 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 2.62 | -0.72 |
| Martin ratioReturn relative to average drawdown | 8.67 | 11.73 | -3.06 |
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Drawdowns
BSJW vs. USHY - Drawdown Comparison
The maximum BSJW drawdown since its inception was -4.52%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for BSJW and USHY.
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Drawdown Indicators
| BSJW | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.52% | -22.44% | +17.92% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -2.43% | -0.79% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.66% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.56% | — |
Current DrawdownCurrent decline from peak | -0.25% | -0.19% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -2.65% | +2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 0.54% | +0.17% |
Volatility
BSJW vs. USHY - Volatility Comparison
Invesco BulletShares 2032 High Yield Corporate Bond ETF (BSJW) has a higher volatility of 1.16% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 0.95%. This indicates that BSJW's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSJW | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.95% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 3.36% | 2.96% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.20% | 3.68% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.10% | 7.35% | -2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.10% | 8.23% | -3.13% |
BSJW vs. USHY - Expense Ratio Comparison
BSJW has a 0.42% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
BSJW vs. USHY - Dividend Comparison
BSJW's dividend yield for the trailing twelve months is around 6.63%, less than USHY's 6.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BSJW Invesco BulletShares 2032 High Yield Corporate Bond ETF | 6.63% | 6.36% | 4.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.90% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% |
Frequently Asked Questions
With a correlation of 0.93, BSJW and USHY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BSJW has higher volatility (1.16%) compared to USHY (0.95%). In terms of maximum drawdown, BSJW dropped -4.52% vs USHY's -22.44%.
On 1-year performance, USHY leads with 6.34% vs 6.11% for BSJW. On fees, USHY is cheaper at 0.15% per year. On volatility, USHY has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USHY has performed better with a 6.34% return vs 6.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USHY is cheaper with a 0.15% expense ratio, compared with 0.42% for BSJW.
USHY has the higher dividend yield at 6.90%, compared with 6.63% for BSJW.
BSJW tracks Nasdaq BulletShares USD High Yield Corporate Bond 2032 Index, while USHY tracks ICE BofA US High Yield Constrained Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.42% for BSJW and 0.15% for USHY.
USHY currently has the higher Sharpe Ratio (1.73 vs 1.46), 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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