EVHY vs. MHY
EVHY (Eaton Vance High Yield ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. Both are actively managed. A 0.75 correlation means they provide meaningful diversification when combined. EVHY charges 0.48%/yr vs 0.69%/yr for MHY.
Performance
EVHY vs. MHY - Performance Comparison
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Returns By Period
In the year-to-date period, EVHY achieves a 1.48% return, which is significantly lower than MHY's 4.09% return.
EVHY
- 1D
- 0.00%
- 1M
- 0.68%
- YTD
- 1.48%
- 6M
- 1.63%
- 1Y
- 6.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MHY
- 1D
- -0.04%
- 1M
- 1.72%
- YTD
- 4.09%
- 6M
- 4.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EVHY vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EVHY Eaton Vance High Yield ETF | 1.48% | 1.97% |
MHY Man Active High Yield ETF | 4.09% | 1.54% |
Correlation
The correlation between EVHY and MHY 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 (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.75 |
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Return for Risk
EVHY vs. MHY — Risk / Return Rank
EVHY
MHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EVHY vs. MHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance High Yield ETF (EVHY) and Man Active High Yield ETF (MHY). 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.
| EVHY | MHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.35 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | — | — |
| Martin ratioReturn relative to average drawdown | 11.74 | — | — |
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Drawdowns
EVHY vs. MHY - Drawdown Comparison
The maximum EVHY drawdown since its inception was -3.71%, which is greater than MHY's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for EVHY and MHY.
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Drawdown Indicators
| EVHY | MHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.71% | -1.58% | -2.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | — | — |
Current DrawdownCurrent decline from peak | -0.12% | -0.04% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -0.37% | -0.29% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | — | — |
Volatility
EVHY vs. MHY - Volatility Comparison
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Volatility by Period
| EVHY | MHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.76% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 2.99% | +0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.51% | 2.99% | +1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.51% | 2.99% | +1.52% |
EVHY vs. MHY - Expense Ratio Comparison
EVHY has a 0.48% expense ratio, which is lower than MHY's 0.69% expense ratio.
Dividends
EVHY vs. MHY - Dividend Comparison
EVHY's dividend yield for the trailing twelve months is around 7.18%, more than MHY's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
EVHY Eaton Vance High Yield ETF | 7.18% | 7.39% | 7.66% | 1.44% |
MHY Man Active High Yield ETF | 3.55% | 3.42% | 0.00% | 0.00% |
Frequently Asked Questions
EVHY and MHY 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.
On fees, EVHY is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EVHY is cheaper with a 0.48% expense ratio, compared with 0.69% for MHY.
EVHY has the higher dividend yield at 7.18%, compared with 3.55% for MHY.
They also come from different issuers: Eaton Vance and Man Group. Their fees differ too: 0.48% for EVHY and 0.69% for MHY.
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