EVHY vs. BBHY

Last updated Jun 3, 2026

EVHY (Eaton Vance High Yield ETF) and BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. EVHY is actively managed, while BBHY is passively managed. Over the past year, EVHY returned 7.04% vs 7.52% for BBHY. Their correlation of 0.94 suggests significant overlap in exposure. EVHY charges 0.48%/yr vs 0.15%/yr for BBHY.

Performance

EVHY vs. BBHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance High Yield ETF (EVHY) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVHY achieves a 1.33% return, which is significantly lower than BBHY's 1.82% return.

EVHY

• 1D: 0.11%
• 1M: 0.46%
• YTD: 1.33%
• 6M: 1.94%
• 1Y: 7.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BBHY

• 1D: 0.09%
• 1M: 0.40%
• YTD: 1.82%
• 6M: 2.35%
• 1Y: 7.52%
• 3Y*: 8.70%
• 5Y*: 4.17%
• 10Y*: —

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

EVHY vs. BBHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EVHY Eaton Vance High Yield ETF	1.33%	9.14%	6.39%	8.90%
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	1.82%	8.51%	7.81%	9.30%

Correlation

The correlation between EVHY and BBHY is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023	0.94

The correlation between EVHY and BBHY has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

EVHY vs. BBHY — Risk / Return Rank

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

EVHY

EVHY Risk / Return Rank: 65
EVHY Sharpe Ratio Rank: 62
EVHY Sortino Ratio Rank: 69
EVHY Omega Ratio Rank: 68
EVHY Calmar Ratio Rank: 55
EVHY Martin Ratio Rank: 71

BBHY

BBHY Risk / Return Rank: 67
BBHY Sharpe Ratio Rank: 61
BBHY Sortino Ratio Rank: 68
BBHY Omega Ratio Rank: 67
BBHY Calmar Ratio Rank: 62
BBHY Martin Ratio Rank: 74

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.

EVHY vs. BBHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance High Yield ETF (EVHY) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). 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.

	EVHY	BBHY	Difference
Sharpe ratio Return per unit of total volatility	2.10	2.09	+0.01
Sortino ratio Return per unit of downside risk	3.20	3.17	+0.02
Omega ratio Gain probability vs. loss probability	1.42	1.41	+0.01
Calmar ratio Return relative to maximum drawdown	2.79	3.16	-0.38
Martin ratio Return relative to average drawdown	13.52	14.25	-0.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVHY vs. BBHY - Sharpe Ratio Comparison

The current EVHY Sharpe Ratio is 2.10, which is comparable to the BBHY Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of EVHY and BBHY, 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

	EVHY	BBHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	2.09	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.21	0.65	+1.57

Drawdowns

EVHY vs. BBHY - Drawdown Comparison

The maximum EVHY drawdown since its inception was -3.71%, smaller than the maximum BBHY drawdown of -24.98%. Use the drawdown chart below to compare losses from any high point for EVHY and BBHY.

Drawdown Indicators

	EVHY	BBHY	Difference
Max Drawdown Largest peak-to-trough decline	-3.71%	-24.98%	+21.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.51%	-2.37%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.00%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.32%	—
Current Drawdown Current decline from peak	0.00%	-0.06%	+0.06%
Average Drawdown Average peak-to-trough decline	-0.37%	-2.37%	+2.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	0.53%	-0.01%

Volatility

EVHY vs. BBHY - Volatility Comparison

The current volatility for Eaton Vance High Yield ETF (EVHY) is 1.04%, while JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) has a volatility of 1.13%. This indicates that EVHY experiences smaller price fluctuations and is considered to be less risky than BBHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVHY	BBHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	1.13%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	2.69%	2.86%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	3.61%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.53%	7.26%	-2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.53%	7.53%	-3.00%

EVHY vs. BBHY - Expense Ratio Comparison

EVHY has a 0.48% expense ratio, which is higher than BBHY's 0.15% expense ratio.

Dividends

EVHY vs. BBHY - Dividend Comparison

EVHY's dividend yield for the trailing twelve months is around 7.19%, more than BBHY's 6.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	6.93%	7.24%	7.18%	6.49%	5.92%	4.06%	4.73%	4.99%	5.02%	4.81%	1.42%
EVHY Eaton Vance High Yield ETF	7.19%	7.39%	7.66%	1.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVHY and BBHY in my portfolio?

With a correlation of 0.92, EVHY and BBHY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EVHY or BBHY?

BBHY has higher volatility (1.13%) compared to EVHY (1.04%). In terms of maximum drawdown, EVHY dropped -3.71% vs BBHY's -24.98%.

Which ETF is better, EVHY or BBHY?

On 1-year performance, BBHY leads with 7.52% vs 7.04% for EVHY. On fees, BBHY is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVHY or BBHY?

Over the 1-year period, BBHY has performed better with a 7.52% return vs 7.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVHY or BBHY?

BBHY is cheaper with a 0.15% expense ratio, compared with 0.48% for EVHY.

Which ETF pays a higher dividend yield, EVHY or BBHY?

EVHY has the higher dividend yield at 7.19%, compared with 6.93% for BBHY.

What is the main difference between EVHY and BBHY?

They also come from different issuers: Eaton Vance and JPMorgan. Their fees differ too: 0.48% for EVHY and 0.15% for BBHY.

Which has better risk-adjusted returns?

EVHY currently has the higher Sharpe Ratio (2.10 vs 2.09), 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.