FTRB vs. BYLD

Last updated Jun 4, 2026

FTRB (Federated Hermes Total Return Bond ETF) and BYLD (iShares Yield Optimized Bond ETF) are both Intermediate Core-Plus Bond funds. FTRB is actively managed, while BYLD is passively managed. Over the past year, FTRB returned 5.52% vs 7.01% for BYLD. A 0.70 correlation means they provide meaningful diversification when combined. FTRB charges 0.39%/yr vs 0.17%/yr for BYLD.

Performance

FTRB vs. BYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Total Return Bond ETF (FTRB) and iShares Yield Optimized Bond ETF (BYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTRB achieves a 0.07% return, which is significantly lower than BYLD's 1.23% return.

FTRB

• 1D: -0.20%
• 1M: 0.03%
• YTD: 0.07%
• 6M: -0.04%
• 1Y: 5.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BYLD

• 1D: -0.18%
• 1M: 0.61%
• YTD: 1.23%
• 6M: 1.35%
• 1Y: 7.01%
• 3Y*: 6.49%
• 5Y*: 2.21%
• 10Y*: 3.01%

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

FTRB vs. BYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FTRB Federated Hermes Total Return Bond ETF	0.07%	7.60%	2.56%
BYLD iShares Yield Optimized Bond ETF	1.23%	8.41%	5.11%

Correlation

The correlation between FTRB and BYLD is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jan 5, 2024	0.70

The correlation between FTRB and BYLD has been stable across timeframes, ranging from 0.70 to 0.72 - a consistent structural relationship.

FTRB vs. BYLD - Sectors Allocation Comparison

Sectors	FTRB	BYLD
Utilities	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	99.2%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	0.8%
Technology	-	-

Return for Risk

FTRB vs. BYLD — Risk / Return Rank

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

FTRB

FTRB Risk / Return Rank: 43
FTRB Sharpe Ratio Rank: 45
FTRB Sortino Ratio Rank: 46
FTRB Omega Ratio Rank: 45
FTRB Calmar Ratio Rank: 41
FTRB Martin Ratio Rank: 40

BYLD

BYLD Risk / Return Rank: 55
BYLD Sharpe Ratio Rank: 53
BYLD Sortino Ratio Rank: 57
BYLD Omega Ratio Rank: 56
BYLD Calmar Ratio Rank: 52
BYLD Martin Ratio Rank: 59

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.

FTRB vs. BYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Total Return Bond ETF (FTRB) and iShares Yield Optimized Bond ETF (BYLD). 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.

	FTRB	BYLD	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.85	-0.30
Sortino ratio: Return per unit of downside risk	2.26	2.76	-0.50
Omega ratio: Gain probability vs. loss probability	1.28	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	1.98	2.60	-0.62
Martin ratio: Return relative to average drawdown	6.22	10.54	-4.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTRB vs. BYLD - Sharpe Ratio Comparison

The current FTRB Sharpe Ratio is 1.54, which is comparable to the BYLD Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of FTRB and BYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FTRB	BYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.85	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.57	+0.36

Drawdowns

FTRB vs. BYLD - Drawdown Comparison

The maximum FTRB drawdown since its inception was -4.83%, smaller than the maximum BYLD drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for FTRB and BYLD.

Drawdown Indicators

	FTRB	BYLD	Difference
Max Drawdown Largest peak-to-trough decline	-4.83%	-14.75%	+9.92%
Max Drawdown (1Y) Largest decline over 1 year	-2.80%	-2.71%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-14.75%	—
Current Drawdown Current decline from peak	-1.58%	-0.34%	-1.24%
Average Drawdown Average peak-to-trough decline	-1.29%	-2.51%	+1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	0.67%	+0.22%

Volatility

FTRB vs. BYLD - Volatility Comparison

The current volatility for Federated Hermes Total Return Bond ETF (FTRB) is 1.31%, while iShares Yield Optimized Bond ETF (BYLD) has a volatility of 1.42%. This indicates that FTRB experiences smaller price fluctuations and is considered to be less risky than BYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTRB	BYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	1.42%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	2.62%	2.94%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	3.59%	3.82%	-0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.56%	5.20%	-0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.56%	5.43%	-0.87%

FTRB vs. BYLD - Expense Ratio Comparison

FTRB has a 0.39% expense ratio, which is higher than BYLD's 0.17% expense ratio.

Dividends

FTRB vs. BYLD - Dividend Comparison

FTRB's dividend yield for the trailing twelve months is around 4.30%, less than BYLD's 5.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BYLD iShares Yield Optimized Bond ETF	5.36%	5.32%	5.31%	4.45%	3.39%	2.18%	3.41%	3.67%	4.22%	3.22%	3.14%	3.37%
FTRB Federated Hermes Total Return Bond ETF	4.30%	4.46%	4.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTRB and BYLD in my portfolio?

FTRB and BYLD have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTRB or BYLD?

BYLD has higher volatility (1.42%) compared to FTRB (1.31%). In terms of maximum drawdown, FTRB dropped -4.83% vs BYLD's -14.75%.

Which ETF is better, FTRB or BYLD?

On 1-year performance, BYLD leads with 7.01% vs 5.52% for FTRB. On fees, BYLD is cheaper at 0.17% per year. On volatility, FTRB has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTRB or BYLD?

Over the 1-year period, BYLD has performed better with a 7.01% return vs 5.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTRB or BYLD?

BYLD is cheaper with a 0.17% expense ratio, compared with 0.39% for FTRB.

Which ETF pays a higher dividend yield, FTRB or BYLD?

BYLD has the higher dividend yield at 5.36%, compared with 4.30% for FTRB.

What is the main difference between FTRB and BYLD?

They also come from different issuers: Federated and iShares. Their fees differ too: 0.39% for FTRB and 0.17% for BYLD.

Which has better risk-adjusted returns?

BYLD currently has the higher Sharpe Ratio (1.85 vs 1.54), 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.