FLM vs. SHYG
FLM (First Trust Global Engineering and Construction ETF) and SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) are both exchange-traded funds - FLM is a Building & Construction fund tracking the ISE Global Engineering & Construction Index, while SHYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield 0-5 Index. Both are passively managed. At a 0.31 correlation, their price movements are largely independent. FLM charges 0.70%/yr vs 0.30%/yr for SHYG.
Performance
FLM vs. SHYG - Performance Comparison
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Returns By Period
FLM
- 1D
- -4.55%
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHYG
- 1D
- -0.07%
- 1M
- 0.39%
- YTD
- 1.72%
- 6M
- 1.94%
- 1Y
- 6.03%
- 3Y*
- 8.27%
- 5Y*
- 4.78%
- 10Y*
- 5.21%
FLM vs. SHYG - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
FLM First Trust Global Engineering and Construction ETF | -4.55% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 0.14% |
Correlation
The correlation between FLM and SHYG is 0.31, 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 Jun 5, 2026 | 0.31 |
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Return for Risk
FLM vs. SHYG — Risk / Return Rank
FLM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SHYG
FLM vs. SHYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Global Engineering and Construction ETF (FLM) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). 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.
| FLM | SHYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.38 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.46 | — |
| Martin ratioReturn relative to average drawdown | — | 14.95 | — |
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Drawdowns
FLM vs. SHYG - Drawdown Comparison
The maximum FLM drawdown since its inception was -4.55%, smaller than the maximum SHYG drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for FLM and SHYG.
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Drawdown Indicators
| FLM | SHYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.55% | -19.26% | +14.71% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.75% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.53% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.39% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.26% | — |
Current DrawdownCurrent decline from peak | -4.55% | -0.16% | -4.39% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -1.44% | -0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.40% | — |
Volatility
FLM vs. SHYG - Volatility Comparison
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Volatility by Period
| FLM | SHYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.83% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.57% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 51.02% | 3.20% | +47.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.02% | 5.74% | +45.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.02% | 6.41% | +44.61% |
FLM vs. SHYG - Expense Ratio Comparison
FLM has a 0.70% expense ratio, which is higher than SHYG's 0.30% expense ratio.
Dividends
FLM vs. SHYG - Dividend Comparison
FLM has not paid dividends to shareholders, while SHYG's dividend yield for the trailing twelve months is around 7.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLM First Trust Global Engineering and Construction ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 7.00% | 7.03% | 6.93% | 6.54% | 5.57% | 4.83% | 5.07% | 5.33% | 5.90% | 5.49% | 5.53% | 5.17% |
Frequently Asked Questions
FLM and SHYG have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHYG is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHYG is cheaper with a 0.30% expense ratio, compared with 0.70% for FLM.
SHYG has the higher dividend yield at 7.00%, compared with 0.00% for FLM.
FLM is categorized as Building & Construction, while SHYG is High Yield Bonds. FLM tracks ISE Global Engineering & Construction Index, while SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.70% for FLM and 0.30% for SHYG.
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