CPHY vs. HYGW
CPHY (F/m Compoundr High Yield Bond ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both High Yield Bonds funds - CPHY tracks the Nasdaq Compoundr U.S. High Yield Bond Index while HYGW tracks the Cboe HYG BuyWrite Index. Both are passively managed. A 0.74 correlation means they provide meaningful diversification when combined. CPHY charges 0.35%/yr vs 0.69%/yr for HYGW.
Performance
CPHY vs. HYGW - Performance Comparison
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Returns By Period
In the year-to-date period, CPHY achieves a 0.75% return, which is significantly lower than HYGW's 2.32% return.
CPHY
- 1D
- -0.08%
- 1M
- 0.34%
- 6M
- 0.17%
- YTD
- 0.75%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYGW
- 1D
- -0.17%
- 1M
- 0.44%
- 6M
- 2.15%
- YTD
- 2.32%
- 1Y
- 6.08%
- 3Y*
- 5.34%
- 5Y*
- —
- 10Y*
- —
CPHY vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CPHY F/m Compoundr High Yield Bond ETF | 0.75% | 2.43% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.32% | 3.13% |
Correlation
The correlation between CPHY and HYGW 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 (All Time) Calculated using the full available price history since Aug 12, 2025 | 0.74 |
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Return for Risk
CPHY vs. HYGW — Risk / Return Rank
CPHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYGW
CPHY vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m Compoundr High Yield Bond ETF (CPHY) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.
| CPHY | HYGW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.44 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.36 | — |
| Martin ratioReturn relative to average drawdown | — | 15.25 | — |
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Drawdowns
CPHY vs. HYGW - Drawdown Comparison
The maximum CPHY drawdown since its inception was -2.51%, smaller than the maximum HYGW drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for CPHY and HYGW.
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Drawdown Indicators
| CPHY | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.51% | -5.49% | +2.98% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.82% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.66% | — |
Current DrawdownCurrent decline from peak | -0.24% | -0.24% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -0.59% | +0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.40% | — |
Volatility
CPHY vs. HYGW - Volatility Comparison
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Volatility by Period
| CPHY | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.73% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.30% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.47% | 2.90% | +0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.47% | 4.63% | -1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.47% | 4.63% | -1.16% |
CPHY vs. HYGW - Expense Ratio Comparison
CPHY has a 0.35% expense ratio, which is lower than HYGW's 0.69% expense ratio.
Dividends
CPHY vs. HYGW - Dividend Comparison
CPHY has not paid dividends to shareholders, while HYGW's dividend yield for the trailing twelve months is around 10.71%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CPHY F/m Compoundr High Yield Bond ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 10.71% | 12.53% | 12.30% | 15.98% | 8.71% |
Frequently Asked Questions
CPHY and HYGW 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, CPHY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CPHY is cheaper with a 0.35% expense ratio, compared with 0.69% for HYGW.
HYGW has the higher dividend yield at 10.71%, compared with 0.00% for CPHY.
CPHY tracks Nasdaq Compoundr U.S. High Yield Bond Index, while HYGW tracks Cboe HYG BuyWrite Index. They also come from different issuers: F/m Investments and iShares. Their fees differ too: 0.35% for CPHY and 0.69% for HYGW.
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