CRED vs. HYSD

Last updated Jun 23, 2026

CRED (Columbia Research Enhanced Real Estate ETF) and HYSD (Columbia Short Duration High Yield ETF) are both exchange-traded funds - CRED is a REIT fund tracking the Beta Advantage Lionstone Research Enhanced REIT Index - Benchmark TR Gross, while HYSD is a High Yield Bonds fund actively managed by Columbia. CRED is passively managed, while HYSD is actively managed. Over the past year, CRED returned 10.84% vs 5.94% for HYSD. At a 0.44 correlation, their price movements are largely independent. CRED charges 0.33%/yr vs 0.44%/yr for HYSD.

Performance

CRED vs. HYSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Research Enhanced Real Estate ETF (CRED) and Columbia Short Duration High Yield ETF (HYSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRED achieves a 14.93% return, which is significantly higher than HYSD's 1.97% return.

CRED

• 1D: 1.10%
• 1M: 0.50%
• YTD: 14.93%
• 6M: 16.10%
• 1Y: 10.84%
• 3Y*: 10.63%
• 5Y*: —
• 10Y*: —

HYSD

• 1D: -0.11%
• 1M: 0.43%
• YTD: 1.97%
• 6M: 2.16%
• 1Y: 5.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CRED vs. HYSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CRED Columbia Research Enhanced Real Estate ETF	14.93%	-2.30%	-3.86%
HYSD Columbia Short Duration High Yield ETF	1.97%	7.74%	0.94%

Correlation

The correlation between CRED and HYSD is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.44

Return for Risk

CRED vs. HYSD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CRED

CRED Risk / Return Rank: 24
CRED Sharpe Ratio Rank: 24
CRED Sortino Ratio Rank: 22
CRED Omega Ratio Rank: 22
CRED Calmar Ratio Rank: 27
CRED Martin Ratio Rank: 23

HYSD

HYSD Risk / Return Rank: 77
HYSD Sharpe Ratio Rank: 67
HYSD Sortino Ratio Rank: 77
HYSD Omega Ratio Rank: 76
HYSD Calmar Ratio Rank: 81
HYSD Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CRED vs. HYSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Research Enhanced Real Estate ETF (CRED) and Columbia Short Duration High Yield ETF (HYSD). 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.

	CRED	HYSD	Difference
Sharpe ratio: Return per unit of total volatility	0.82	2.11	-1.29
Sortino ratio: Return per unit of downside risk	1.18	3.29	-2.11
Omega ratio: Gain probability vs. loss probability	1.15	1.43	-0.28
Calmar ratio: Return relative to maximum drawdown	1.31	4.09	-2.78
Martin ratio: Return relative to average drawdown	2.95	17.66	-14.71

CRED vs. HYSD - Sharpe Ratio Comparison

The current CRED Sharpe Ratio is 0.82, which is lower than the HYSD Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of CRED and HYSD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CRED vs. HYSD - Drawdown Comparison

The maximum CRED drawdown since its inception was -17.59%, which is greater than HYSD's maximum drawdown of -2.69%. Use the drawdown chart below to compare losses from any high point for CRED and HYSD.

Drawdown Indicators

	CRED	HYSD	Difference
Max Drawdown Largest peak-to-trough decline	-17.59%	-2.69%	-14.90%
Max Drawdown (1Y) Largest decline over 1 year	-8.32%	-1.46%	-6.86%
Max Drawdown (3Y) Largest decline over 3 years	-17.59%	—	—
Current Drawdown Current decline from peak	-1.25%	-0.11%	-1.14%
Average Drawdown Average peak-to-trough decline	-5.57%	-0.25%	-5.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	0.34%	+3.34%

Volatility

CRED vs. HYSD - Volatility Comparison

Columbia Research Enhanced Real Estate ETF (CRED) has a higher volatility of 4.69% compared to Columbia Short Duration High Yield ETF (HYSD) at 0.84%. This indicates that CRED's price experiences larger fluctuations and is considered to be riskier than HYSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRED	HYSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.69%	0.84%	+3.85%
Volatility (6M) Calculated over the trailing 6-month period	10.02%	2.22%	+7.80%
Volatility (1Y) Calculated over the trailing 1-year period	13.34%	2.83%	+10.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	3.50%	+12.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.27%	3.50%	+12.77%

CRED vs. HYSD - Expense Ratio Comparison

CRED has a 0.33% expense ratio, which is lower than HYSD's 0.44% expense ratio.

Dividends

CRED vs. HYSD - Dividend Comparison

CRED's dividend yield for the trailing twelve months is around 4.43%, less than HYSD's 5.79% yield.

Position	TTM	2025	2024	2023
CRED Columbia Research Enhanced Real Estate ETF	4.43%	5.50%	4.82%	2.72%
HYSD Columbia Short Duration High Yield ETF	5.79%	5.60%	1.82%	0.00%

Frequently Asked Questions

Can I hold both CRED and HYSD in my portfolio?

CRED and HYSD have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CRED or HYSD?

CRED has higher volatility (4.69%) compared to HYSD (0.84%). In terms of maximum drawdown, CRED dropped -17.59% vs HYSD's -2.69%.

Which ETF is better, CRED or HYSD?

On 1-year performance, CRED leads with 10.84% vs 5.94% for HYSD. On fees, CRED is cheaper at 0.33% per year. On volatility, HYSD has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CRED or HYSD?

Over the 1-year period, CRED has performed better with a 10.84% return vs 5.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CRED or HYSD?

CRED is cheaper with a 0.33% expense ratio, compared with 0.44% for HYSD.

Which ETF pays a higher dividend yield, CRED or HYSD?

HYSD has the higher dividend yield at 5.79%, compared with 4.43% for CRED.

What is the main difference between CRED and HYSD?

CRED is categorized as REIT, while HYSD is High Yield Bonds. Their fees differ too: 0.33% for CRED and 0.44% for HYSD.

Which has better risk-adjusted returns?

HYSD currently has the higher Sharpe Ratio (2.11 vs 0.82), 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.