FALN vs. NHYB
FALN (iShares Fallen Angels USD Bond ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds - FALN tracks the Bloomberg US High Yield Fallen Angel 3% Capped Index while NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index. Both are passively managed. Their correlation of 0.85 suggests significant overlap in exposure. FALN charges 0.25%/yr vs 0.08%/yr for NHYB.
Performance
FALN vs. NHYB - Performance Comparison
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Returns By Period
In the year-to-date period, FALN achieves a 2.24% return, which is significantly higher than NHYB's 1.91% return.
FALN
- 1D
- 0.00%
- 1M
- 1.07%
- YTD
- 2.24%
- 6M
- 2.42%
- 1Y
- 7.88%
- 3Y*
- 9.39%
- 5Y*
- 3.74%
- 10Y*
- 6.60%
NHYB
- 1D
- -0.04%
- 1M
- 0.52%
- YTD
- 1.91%
- 6M
- 1.99%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FALN vs. NHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FALN iShares Fallen Angels USD Bond ETF | 2.24% | 0.47% |
NHYB Nuveen High Yield Corporate Bond ETF | 1.91% | 1.24% |
Correlation
The correlation between FALN and NHYB is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025 | 0.85 |
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Return for Risk
FALN vs. NHYB — Risk / Return Rank
FALN
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FALN vs. NHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Fallen Angels USD Bond ETF (FALN) and Nuveen High Yield Corporate Bond ETF (NHYB). 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.
| FALN | NHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.33 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | — | — |
| Martin ratioReturn relative to average drawdown | 8.32 | — | — |
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Drawdowns
FALN vs. NHYB - Drawdown Comparison
The maximum FALN drawdown since its inception was -29.22%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for FALN and NHYB.
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Drawdown Indicators
| FALN | NHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.22% | -2.40% | -26.82% |
Max Drawdown (1Y)Largest decline over 1 year | -3.96% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.92% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.78% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -29.22% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -0.20% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -0.36% | -2.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | — | — |
Volatility
FALN vs. NHYB - Volatility Comparison
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Volatility by Period
| FALN | NHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.72% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.60% | 3.64% | +0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.33% | 3.64% | +3.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.92% | 3.64% | +5.28% |
FALN vs. NHYB - Expense Ratio Comparison
FALN has a 0.25% expense ratio, which is higher than NHYB's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FALN vs. NHYB - Dividend Comparison
FALN's dividend yield for the trailing twelve months is around 6.42%, more than NHYB's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FALN iShares Fallen Angels USD Bond ETF | 6.42% | 6.31% | 6.24% | 5.37% | 5.08% | 3.40% | 5.14% | 5.35% | 5.97% | 6.98% | 3.55% |
NHYB Nuveen High Yield Corporate Bond ETF | 4.25% | 1.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FALN and NHYB have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NHYB is cheaper with a 0.08% expense ratio, compared with 0.25% for FALN.
FALN has the higher dividend yield at 6.42%, compared with 4.25% for NHYB.
FALN tracks Bloomberg US High Yield Fallen Angel 3% Capped Index, while NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index. They also come from different issuers: iShares and Nuveen. Their fees differ too: 0.25% for FALN and 0.08% for NHYB.
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