FLBL vs. NHYB

Last updated Jun 25, 2026

FLBL (Franklin Liberty Senior Loan ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds. FLBL is actively managed, while NHYB is passively managed. At a 0.39 correlation, their price movements are largely independent. FLBL charges 0.45%/yr vs 0.08%/yr for NHYB.

Performance

FLBL vs. NHYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty Senior Loan ETF (FLBL) and Nuveen High Yield Corporate Bond ETF (NHYB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLBL achieves a 0.64% return, which is significantly lower than NHYB's 1.93% return.

FLBL

• 1D: -0.04%
• 1M: -0.20%
• YTD: 0.64%
• 6M: 0.26%
• 1Y: 2.04%
• 3Y*: 6.56%
• 5Y*: 5.12%
• 10Y*: —

NHYB

• 1D: 0.02%
• 1M: 0.54%
• YTD: 1.93%
• 6M: 1.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLBL vs. NHYB - Yearly Performance Comparison

	2026 (YTD)	2025
FLBL Franklin Liberty Senior Loan ETF	0.64%	-0.25%
NHYB Nuveen High Yield Corporate Bond ETF	1.93%	1.24%

Correlation

The correlation between FLBL and NHYB is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.39

Return for Risk

FLBL vs. NHYB — Risk / Return Rank

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

FLBL

FLBL Risk / Return Rank: 21
FLBL Sharpe Ratio Rank: 24
FLBL Sortino Ratio Rank: 22
FLBL Omega Ratio Rank: 23
FLBL Calmar Ratio Rank: 17
FLBL Martin Ratio Rank: 20

NHYB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FLBL vs. NHYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Senior Loan ETF (FLBL) 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.

	FLBL	NHYB	Difference
Sharpe ratio: Return per unit of total volatility	0.78	—	—
Sortino ratio: Return per unit of downside risk	1.10	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	0.64	—	—
Martin ratio: Return relative to average drawdown	2.16	—	—

Drawdowns

FLBL vs. NHYB - Drawdown Comparison

The maximum FLBL drawdown since its inception was -19.52%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for FLBL and NHYB.

Drawdown Indicators

	FLBL	NHYB	Difference
Max Drawdown Largest peak-to-trough decline	-19.52%	-2.40%	-17.12%
Max Drawdown (1Y) Largest decline over 1 year	-3.18%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.91%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-6.80%	—	—
Current Drawdown Current decline from peak	-0.35%	-0.18%	-0.17%
Average Drawdown Average peak-to-trough decline	-0.99%	-0.36%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	—	—

Volatility

Volatility by Period

	FLBL	NHYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.27%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.63%	3.63%	-1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.85%	3.63%	+0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.70%	3.63%	+2.07%

FLBL vs. NHYB - Expense Ratio Comparison

FLBL has a 0.45% expense ratio, which is higher than NHYB's 0.08% expense ratio.

Dividends

FLBL vs. NHYB - Dividend Comparison

FLBL's dividend yield for the trailing twelve months is around 7.60%, more than NHYB's 4.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FLBL Franklin Liberty Senior Loan ETF	7.60%	7.24%	8.05%	8.37%	5.53%	3.57%	3.22%	3.97%	2.21%
NHYB Nuveen High Yield Corporate Bond ETF	4.24%	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLBL and NHYB in my portfolio?

FLBL and NHYB have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLBL or NHYB?

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.

Which ETF is cheaper, FLBL or NHYB?

NHYB is cheaper with a 0.08% expense ratio, compared with 0.45% for FLBL.

Which ETF pays a higher dividend yield, FLBL or NHYB?

FLBL has the higher dividend yield at 7.60%, compared with 4.24% for NHYB.

What is the main difference between FLBL and NHYB?

They also come from different issuers: Franklin Templeton and Nuveen. Their fees differ too: 0.45% for FLBL and 0.08% for NHYB.