DIAL vs. HYG

Last updated Jun 3, 2026

DIAL (Columbia Diversified Fixed Income Allocation ETF) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both exchange-traded funds - DIAL is a Multisector Bonds fund tracking the Bloomberg Beta Advantage Multi-Sector Bond Index, while HYG is a High Yield Bonds fund tracking the iBoxx $ Liquid High Yield Index. Both are passively managed. Over the past 5 years, DIAL returned 0.84%/yr vs 3.87%/yr for HYG. A 0.56 correlation means they provide meaningful diversification when combined. DIAL charges 0.29%/yr vs 0.49%/yr for HYG.

Performance

DIAL vs. HYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Diversified Fixed Income Allocation ETF (DIAL) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIAL achieves a 1.19% return, which is significantly lower than HYG's 1.60% return.

DIAL

• 1D: 0.11%
• 1M: 0.45%
• YTD: 1.19%
• 6M: 1.38%
• 1Y: 7.01%
• 3Y*: 5.96%
• 5Y*: 0.84%
• 10Y*: —

HYG

• 1D: 0.08%
• 1M: 0.31%
• YTD: 1.60%
• 6M: 2.09%
• 1Y: 7.00%
• 3Y*: 8.58%
• 5Y*: 3.87%
• 10Y*: 4.97%

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

DIAL vs. HYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIAL Columbia Diversified Fixed Income Allocation ETF	1.19%	9.93%	1.69%	8.54%	-16.13%	-1.14%	9.08%	14.05%	-1.98%	0.00%
HYG iShares iBoxx $ High Yield Corporate Bond ETF	1.60%	8.59%	7.97%	11.54%	-10.98%	3.76%	4.47%	14.09%	-2.02%	0.08%

Correlation

The correlation between DIAL and HYG is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Oct 13, 2017	0.56

The correlation between DIAL and HYG shifts across timeframes, from 0.56 (all time) to 0.78 (3 years), reflecting how their relationship changes across market environments.

DIAL vs. HYG - Sectors Allocation Comparison

Sectors	DIAL	HYG
Financial Services	0.5%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	0.4%
Technology	-	-
Utilities	-	99.6%

Return for Risk

DIAL vs. HYG — Risk / Return Rank

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

DIAL

DIAL Risk / Return Rank: 48
DIAL Sharpe Ratio Rank: 50
DIAL Sortino Ratio Rank: 53
DIAL Omega Ratio Rank: 50
DIAL Calmar Ratio Rank: 41
DIAL Martin Ratio Rank: 48

HYG

HYG Risk / Return Rank: 60
HYG Sharpe Ratio Rank: 53
HYG Sortino Ratio Rank: 59
HYG Omega Ratio Rank: 58
HYG Calmar Ratio Rank: 59
HYG Martin Ratio Rank: 70

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.

DIAL vs. HYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Diversified Fixed Income Allocation ETF (DIAL) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.

	DIAL	HYG	Difference
Sharpe ratio Return per unit of total volatility	1.73	1.85	-0.12
Sortino ratio Return per unit of downside risk	2.57	2.80	-0.23
Omega ratio Gain probability vs. loss probability	1.32	1.36	-0.04
Calmar ratio Return relative to maximum drawdown	2.08	2.99	-0.91
Martin ratio Return relative to average drawdown	8.14	13.22	-5.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIAL vs. HYG - Sharpe Ratio Comparison

The current DIAL Sharpe Ratio is 1.73, which is comparable to the HYG Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of DIAL and HYG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DIAL	HYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	1.85	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.52	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.46	-0.10

Drawdowns

DIAL vs. HYG - Drawdown Comparison

The maximum DIAL drawdown since its inception was -22.19%, smaller than the maximum HYG drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for DIAL and HYG.

Drawdown Indicators

	DIAL	HYG	Difference
Max Drawdown Largest peak-to-trough decline	-22.19%	-34.25%	+12.06%
Max Drawdown (1Y) Largest decline over 1 year	-3.34%	-2.34%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-7.01%	-4.56%	-2.45%
Max Drawdown (5Y) Largest decline over 5 years	-22.19%	-15.79%	-6.40%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.03%	—
Current Drawdown Current decline from peak	-0.58%	-0.00%	-0.58%
Average Drawdown Average peak-to-trough decline	-5.54%	-3.24%	-2.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	0.53%	+0.32%

Volatility

DIAL vs. HYG - Volatility Comparison

Columbia Diversified Fixed Income Allocation ETF (DIAL) has a higher volatility of 1.59% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 1.22%. This indicates that DIAL's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIAL	HYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.59%	1.22%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	3.23%	3.00%	+0.23%
Volatility (1Y) Calculated over the trailing 1-year period	4.07%	3.79%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.03%	7.52%	-0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.03%	8.29%	-1.26%

DIAL vs. HYG - Expense Ratio Comparison

DIAL has a 0.29% expense ratio, which is lower than HYG's 0.49% expense ratio.

Dividends

DIAL vs. HYG - Dividend Comparison

DIAL's dividend yield for the trailing twelve months is around 5.04%, less than HYG's 5.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIAL Columbia Diversified Fixed Income Allocation ETF	5.04%	4.81%	4.67%	3.77%	3.47%	2.46%	2.61%	3.27%	3.56%	0.65%	0.00%	0.00%
HYG iShares iBoxx $ High Yield Corporate Bond ETF	5.90%	5.71%	6.01%	5.74%	5.30%	4.02%	4.88%	4.99%	5.54%	5.12%	5.27%	5.90%

Frequently Asked Questions

Can I hold both DIAL and HYG in my portfolio?

DIAL and HYG have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIAL or HYG?

DIAL has higher volatility (1.59%) compared to HYG (1.22%). In terms of maximum drawdown, DIAL dropped -22.19% vs HYG's -34.25%.

Which ETF is better, DIAL or HYG?

On 5-year performance, HYG leads with 3.87% vs 0.84% for DIAL. On fees, DIAL is cheaper at 0.29% per year. On volatility, HYG has been the lower-risk option at 1.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIAL or HYG?

Over the 5-year period, HYG has performed better with a 3.87% return vs 0.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIAL or HYG?

DIAL is cheaper with a 0.29% expense ratio, compared with 0.49% for HYG.

Which ETF pays a higher dividend yield, DIAL or HYG?

HYG has the higher dividend yield at 5.90%, compared with 5.04% for DIAL.

What is the main difference between DIAL and HYG?

DIAL is categorized as Multisector Bonds, while HYG is High Yield Bonds. DIAL tracks Bloomberg Beta Advantage Multi-Sector Bond Index, while HYG tracks iBoxx $ Liquid High Yield Index. They also come from different issuers: Ameriprise Financial and iShares. Their fees differ too: 0.29% for DIAL and 0.49% for HYG.

Which has better risk-adjusted returns?

HYG currently has the higher Sharpe Ratio (1.85 vs 1.73), 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.