DOGG vs. HYGW

Last updated Aug 2, 2026

DOGG (FT Vest DJIA Dogs 10 Target Income ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both Derivative Income funds. DOGG is actively managed, while HYGW is passively managed. Over the past 3 years, DOGG returned 11.93%/yr vs 5.30%/yr for HYGW. Their 0.28 correlation means their historical movements had little consistent relationship. DOGG charges 0.75%/yr vs 0.69%/yr for HYGW.

Performance

DOGG vs. HYGW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest DJIA Dogs 10 Target Income ETF (DOGG) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOGG achieves a 11.04% return, which is significantly higher than HYGW's 2.36% return.

DOGG

• 1D: -0.41%
• 1M: 1.08%
• 6M: 4.34%
• YTD: 11.04%
• 1Y: 22.01%
• 3Y*: 11.93%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.23%

HYGW

• 1D: 0.14%
• 1M: 0.03%
• 6M: 1.81%
• YTD: 2.36%
• 1Y: 5.90%
• 3Y*: 5.30%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.68%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DOGG FT Vest DJIA Dogs 10 Target Income ETF	$622.61K	$753.69K	$702.49K
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	$480.97K	$636.40K	$814.79K

DOGG vs. HYGW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DOGG FT Vest DJIA Dogs 10 Target Income ETF	11.04%	19.43%	-2.58%	12.74%
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	2.36%	6.19%	6.99%	3.09%

Correlation

The correlation between DOGG and HYGW is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (3Y) Balances recent behavior with more history.	0.26
Correlation (All Time) Calculated using the full available price history since Apr 27, 2023	0.28

The correlation between DOGG and HYGW shifts across timeframes, from 0.14 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DOGG vs. HYGW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DOGG

DOGG Risk / Return Rank: 76
DOGG Sharpe Ratio Rank: 85
DOGG Sortino Ratio Rank: 87
DOGG Omega Ratio Rank: 83
DOGG Calmar Ratio Rank: 77
DOGG Martin Ratio Rank: 50

HYGW

HYGW Risk / Return Rank: 88
HYGW Sharpe Ratio Rank: 86
HYGW Sortino Ratio Rank: 87
HYGW Omega Ratio Rank: 90
HYGW Calmar Ratio Rank: 85
HYGW Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DOGG vs. HYGW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest DJIA Dogs 10 Target Income ETF (DOGG) 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.

	DOGG	HYGW	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.03	-0.03
Sortino ratio: Return per unit of downside risk	2.95	2.95	0.00
Omega ratio: Gain probability vs. loss probability	1.35	1.42	-0.06
Calmar ratio: Return relative to maximum drawdown	2.74	3.26	-0.52
Martin ratio: Return relative to average drawdown	5.80	14.57	-8.77

DOGG vs. HYGW - Sharpe Ratio Comparison

The current DOGG Sharpe Ratio is 2.00, which is comparable to the HYGW Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of DOGG and HYGW, 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

DOGG vs. HYGW - Drawdown Comparison

The maximum DOGG drawdown since its inception was -11.19%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for DOGG and HYGW.

Drawdown Indicators

	DOGG	HYGW	Difference
Max Drawdown Largest peak-to-trough decline	-11.19%	-5.49%	-5.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.29%	-1.82%	-6.47%
Max Drawdown (3Y) Largest decline over 3 years	-11.19%	-3.42%	-7.77%
Current Drawdown Current decline from peak	-2.39%	-0.21%	-2.18%
Average Drawdown Average peak-to-trough decline	-3.27%	-0.59%	-2.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.91%	0.41%	+3.50%

Volatility

DOGG vs. HYGW - Volatility Comparison

FT Vest DJIA Dogs 10 Target Income ETF (DOGG) has a higher volatility of 5.00% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 0.80%. This indicates that DOGG's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DOGG	HYGW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	0.80%	+4.20%
Volatility (6M) Calculated over the trailing 6-month period	9.40%	2.32%	+7.08%
Volatility (1Y) Calculated over the trailing 1-year period	11.50%	2.92%	+8.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.07%	4.62%	+8.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.07%	4.62%	+8.45%

DOGG vs. HYGW - Expense Ratio Comparison

DOGG has a 0.75% expense ratio, which is higher than HYGW's 0.69% expense ratio.

Dividends

DOGG vs. HYGW - Dividend Comparison

DOGG's dividend yield for the trailing twelve months is around 8.63%, less than HYGW's 10.71% yield.

Position	TTM	2025	2024	2023	2022
DOGG FT Vest DJIA Dogs 10 Target Income ETF	8.63%	8.75%	9.92%	5.89%	0.00%
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	10.71%	12.53%	12.30%	15.98%	8.71%

Frequently Asked Questions

Can I hold both DOGG and HYGW in my portfolio?

DOGG and HYGW have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOGG or HYGW?

DOGG has higher volatility (5.00%) compared to HYGW (0.80%). In terms of maximum drawdown, DOGG dropped -11.19% vs HYGW's -5.49%.

Which ETF is better, DOGG or HYGW?

On 3-year performance, DOGG leads with 11.93% vs 5.30% for HYGW. On fees, HYGW is cheaper at 0.69% per year. On volatility, HYGW has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DOGG or HYGW?

Over the 3-year period, DOGG has performed better with a 11.93% return vs 5.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DOGG or HYGW?

HYGW is cheaper with a 0.69% expense ratio, compared with 0.75% for DOGG.

Which ETF pays a higher dividend yield, DOGG or HYGW?

HYGW has the higher dividend yield at 10.71%, compared with 8.63% for DOGG.

What is the main difference between DOGG and HYGW?

They also come from different issuers: FT Vest and iShares. Their fees differ too: 0.75% for DOGG and 0.69% for HYGW.

Which has better risk-adjusted returns?

HYGW currently has the higher Sharpe Ratio (2.03 vs 2.00), 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.