EUHY vs. PHYD
EUHY (iShares Euro High Yield Corporate Bond USD Hedged ETF) and PHYD (Putnam ESG High Yield ETF -) are both High Yield Bonds funds. EUHY is passively managed, while PHYD is actively managed. Their 0.50 correlation means they have sometimes moved together and sometimes differently. EUHY charges 0.35%/yr vs 0.55%/yr for PHYD.
Performance
EUHY vs. PHYD - Performance Comparison
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Returns By Period
EUHY
- 1D
- 0.18%
- 1M
- -0.26%
- 6M
- 1.72%
- YTD
- 2.63%
- 1Y
- 4.12%
- 3Y*
- 8.99%
- 5Y*
- 2.48%
- 10Y*
- 3.85%
- ALL TIME*
- 3.50%
PHYD
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.06M | $1.49M | $1.66M |
EUHY vs. PHYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 2.63% | 17.41% | -0.55% | 10.93% |
PHYD Putnam ESG High Yield ETF - | 2.32% | 8.84% | 7.35% | 8.30% |
Correlation
The correlation between EUHY and PHYD is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | 0.50 |
The correlation between EUHY and PHYD has been stable across timeframes, ranging from 0.47 to 0.52 - a consistent structural relationship.
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Return for Risk
EUHY vs. PHYD — Risk / Return Rank
EUHY
PHYD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EUHY vs. PHYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) and Putnam ESG High Yield ETF - (PHYD). 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.
| EUHY | PHYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.16 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | — | — |
| Martin ratioReturn relative to average drawdown | 2.92 | — | — |
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Drawdowns
EUHY vs. PHYD - Drawdown Comparison
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Drawdown Indicators
| EUHY | PHYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.45% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -3.50% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -8.23% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.09% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.45% | — | — |
Current DrawdownCurrent decline from peak | -0.48% | — | — |
Average DrawdownAverage peak-to-trough decline | -8.49% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | — | — |
Volatility
EUHY vs. PHYD - Volatility Comparison
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Volatility by Period
| EUHY | PHYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.76% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.97% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.12% | — | — |
EUHY vs. PHYD - Expense Ratio Comparison
EUHY has a 0.35% expense ratio, which is lower than PHYD's 0.55% expense ratio.
Dividends
EUHY vs. PHYD - Dividend Comparison
EUHY's dividend yield for the trailing twelve months is around 6.18%, while PHYD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 6.18% | 3.56% | 5.11% | 3.38% | 0.61% | 3.07% | 1.45% | 1.19% | 4.01% | 0.69% | 1.70% | 3.24% |
PHYD Putnam ESG High Yield ETF - | 8.00% | 6.63% | 6.80% | 6.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EUHY and PHYD have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUHY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUHY is cheaper with a 0.35% expense ratio, compared with 0.55% for PHYD.
PHYD has the higher dividend yield at 8.00%, compared with 6.18% for EUHY.
They also come from different issuers: iShares and Putnam. Their fees differ too: 0.35% for EUHY and 0.55% for PHYD.
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