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FSK vs. USHY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FSK vs. USHY

Last updated Jun 9, 2026

FSK (FS KKR Capital Corp.) is a stock, while USHY (iShares Broad USD High Yield Corporate Bond ETF) is High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index. Over the past 5 years, FSK returned -1.31%/yr vs 4.16%/yr for USHY. At a 0.42 correlation, their price movements are largely independent.

Performance

FSK vs. USHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FS KKR Capital Corp. (FSK) and iShares Broad USD High Yield Corporate Bond ETF (USHY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FSK achieves a -24.63% return, which is significantly lower than USHY's 1.29% return.

FSK

1D
-0.56%
1M
-1.85%
YTD
-24.63%
6M
-28.17%
1Y
-40.83%
3Y*
-5.35%
5Y*
-1.31%
10Y*
2.27%

USHY

1D
0.08%
1M
-0.14%
YTD
1.29%
6M
1.85%
1Y
6.84%
3Y*
8.79%
5Y*
4.16%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FSK vs. USHY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FSK
FS KKR Capital Corp.		-24.63%-20.38%25.71%33.04%-4.71%41.59%-10.27%33.89%-20.23%-6.72%
USHY
iShares Broad USD High Yield Corporate Bond ETF		1.29%8.81%8.45%12.73%-11.18%5.02%6.17%14.24%-2.41%0.16%

Correlation

The correlation between FSK and USHY is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.40

Correlation (3Y)
Calculated over the trailing 3-year period

0.42

Correlation (5Y)
Calculated over the trailing 5-year period

0.45

Correlation (All Time)
Calculated using the full available price history since Oct 26, 2017

0.42

Compare stocks, funds, or ETFs

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FS KKR Capital Corp.

iShares Broad USD High Yield Corporate Bond ETF

Often compared with FSK:
FSK vs. OBDCFSK vs. MAINFSK vs. PSECFSK vs. SCMFSK vs. SPYFSK vs. PRTFSK vs. SCHD
Often compared with USHY:
USHY vs. HYGUSHY vs. SPHYUSHY vs. HYSUSHY vs. JNKUSHY vs. BKLNUSHY vs. HYLBUSHY vs. SPY

Return for Risk

FSK vs. USHY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FSK
FSK Risk / Return Rank: 66
Overall Rank
FSK Sharpe Ratio Rank: 11
Sharpe Ratio Rank
FSK Sortino Ratio Rank: 33
Sortino Ratio Rank
FSK Omega Ratio Rank: 33
Omega Ratio Rank
FSK Calmar Ratio Rank: 1111
Calmar Ratio Rank
FSK Martin Ratio Rank: 1313
Martin Ratio Rank
USHY
USHY Risk / Return Rank: 6767
Overall Rank
USHY Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
USHY Sortino Ratio Rank: 6969
Sortino Ratio Rank
USHY Omega Ratio Rank: 6767
Omega Ratio Rank
USHY Calmar Ratio Rank: 6363
Calmar Ratio Rank
USHY Martin Ratio Rank: 7474
Martin Ratio Rank
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.

FSK vs. USHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FS KKR Capital Corp. (FSK) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.

FSKUSHYDifference
Sharpe ratioReturn per unit of total volatility
-1.34
1.88

-3.21

Sortino ratioReturn per unit of downside risk
-1.92
2.81

-4.73

Omega ratioGain probability vs. loss probability

0.75

1.36

-0.62

Calmar ratioReturn relative to maximum drawdown

-0.80

2.83

-3.63

Martin ratioReturn relative to average drawdown

-1.26

12.68

-13.94

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSK vs. USHY - Sharpe Ratio Comparison

The current FSK Sharpe Ratio is -1.34, which is lower than the USHY Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of FSK and USHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

FSKUSHYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.34

1.88

-3.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.05

0.57

-0.62

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.08

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.09

0.58

-0.48

Drawdowns

FSK vs. USHY - Drawdown Comparison

The maximum FSK drawdown since its inception was -67.20%, which is greater than USHY's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for FSK and USHY.

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Drawdown Indicators

FSKUSHYDifference

Max Drawdown

Largest peak-to-trough decline

-67.20%

-22.44%

-44.76%

Max Drawdown (1Y)

Largest decline over 1 year

-51.01%

-2.43%

-48.58%

Max Drawdown (3Y)

Largest decline over 3 years

-51.03%

-4.66%

-46.37%

Max Drawdown (5Y)

Largest decline over 5 years

-51.03%

-15.56%

-35.47%

Max Drawdown (10Y)

Largest decline over 10 years

-67.20%

—

—

Current Drawdown

Current decline from peak

-45.83%

-0.41%

-45.42%

Average Drawdown

Average peak-to-trough decline

-13.50%

-2.66%

-10.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

32.40%

0.54%

+31.86%

Volatility

FSK vs. USHY - Volatility Comparison

FS KKR Capital Corp. (FSK) has a higher volatility of 6.18% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.13%. This indicates that FSK's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FSKUSHYDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.18%

1.13%

+5.05%

Volatility (6M)

Calculated over the trailing 6-month period

26.52%

2.95%

+23.57%

Volatility (1Y)

Calculated over the trailing 1-year period

30.67%

3.67%

+27.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.07%

7.34%

+16.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.92%

8.25%

+19.67%

Dividends

FSK vs. USHY - Dividend Comparison

FSK's dividend yield for the trailing twelve months is around 24.25%, more than USHY's 6.93% yield.

PositionTTM20252024202320222021202020192018201720162015
FSK
FS KKR Capital Corp.		24.25%18.91%13.35%14.77%15.20%11.80%15.46%12.40%16.41%11.68%8.65%9.91%
USHY
iShares Broad USD High Yield Corporate Bond ETF		6.93%6.79%6.89%6.63%6.08%5.07%5.30%5.92%6.30%0.73%0.00%0.00%

Frequently Asked Questions

FSK and USHY have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FSK has higher volatility (6.18%) compared to USHY (1.13%). In terms of maximum drawdown, FSK dropped -67.20% vs USHY's -22.44%.

USHY currently has the higher Sharpe Ratio (1.88 vs -1.34), 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.

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