FTSL vs. HYG
FTSL (First Trust Senior Loan Fund) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both High Yield Bonds funds. FTSL is actively managed, while HYG is passively managed. Over the past 10 years, FTSL returned 4.45%/yr vs 5.00%/yr for HYG. At a 0.40 correlation, their price movements are largely independent. FTSL charges 0.86%/yr vs 0.49%/yr for HYG.
Performance
FTSL vs. HYG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FTSL achieves a 0.66% return, which is significantly lower than HYG's 1.65% return. Over the past 10 years, FTSL has underperformed HYG with an annualized return of 4.45%, while HYG has yielded a comparatively higher 5.00% annualized return.
FTSL
- 1D
- -0.02%
- 1M
- 0.21%
- YTD
- 0.66%
- 6M
- 0.71%
- 1Y
- 4.21%
- 3Y*
- 7.15%
- 5Y*
- 5.02%
- 10Y*
- 4.45%
HYG
- 1D
- -0.09%
- 1M
- 0.55%
- YTD
- 1.65%
- 6M
- 1.90%
- 1Y
- 6.23%
- 3Y*
- 8.78%
- 5Y*
- 3.77%
- 10Y*
- 5.00%
FTSL vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTSL First Trust Senior Loan Fund | 0.66% | 5.98% | 8.27% | 11.58% | -2.50% | 3.94% | 2.99% | 10.11% | -1.30% | 2.59% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.65% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
Correlation
The correlation between FTSL and HYG is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since May 2, 2013 | 0.40 |
The correlation between FTSL and HYG shifts across timeframes, from 0.40 (all time) to 0.56 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FTSL vs. HYG — Risk / Return Rank
FTSL
HYG
FTSL vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Senior Loan Fund (FTSL) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
| FTSL | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.31 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 2.67 | -0.86 |
| Martin ratioReturn relative to average drawdown | 6.74 | 11.73 | -4.99 |
Loading charts...
Drawdowns
FTSL vs. HYG - Drawdown Comparison
The maximum FTSL drawdown since its inception was -22.67%, smaller than the maximum HYG drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for FTSL and HYG.
Loading charts...
Drawdown Indicators
| FTSL | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.67% | -34.25% | +11.58% |
Max Drawdown (1Y)Largest decline over 1 year | -2.33% | -2.34% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -2.66% | -4.56% | +1.90% |
Max Drawdown (5Y)Largest decline over 5 years | -6.96% | -15.79% | +8.83% |
Max Drawdown (10Y)Largest decline over 10 years | -22.67% | -22.03% | -0.64% |
Current DrawdownCurrent decline from peak | -0.02% | -0.12% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -0.76% | -3.23% | +2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 0.53% | +0.10% |
Volatility
FTSL vs. HYG - Volatility Comparison
The current volatility for First Trust Senior Loan Fund (FTSL) is 0.33%, while iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has a volatility of 1.12%. This indicates that FTSL experiences smaller price fluctuations and is considered to be less risky than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FTSL | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 1.12% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 3.12% | -1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.12% | 3.89% | -1.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.35% | 7.54% | -4.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.19% | 8.29% | -3.10% |
FTSL vs. HYG - Expense Ratio Comparison
FTSL has a 0.86% expense ratio, which is higher than HYG's 0.49% expense ratio.
Dividends
FTSL vs. HYG - Dividend Comparison
FTSL's dividend yield for the trailing twelve months is around 6.46%, more than HYG's 5.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSL First Trust Senior Loan Fund | 6.46% | 6.59% | 7.56% | 7.59% | 4.77% | 3.17% | 3.48% | 4.44% | 4.29% | 3.64% | 3.70% | 3.95% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.90% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
Frequently Asked Questions
FTSL and HYG have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYG has higher volatility (1.12%) compared to FTSL (0.33%). In terms of maximum drawdown, FTSL dropped -22.67% vs HYG's -34.25%.
On 10-year performance, HYG leads with 5.00% vs 4.45% for FTSL. On fees, HYG is cheaper at 0.49% per year. On volatility, FTSL has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HYG has performed better with a 5.00% return vs 4.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYG is cheaper with a 0.49% expense ratio, compared with 0.86% for FTSL.
FTSL has the higher dividend yield at 6.46%, compared with 5.90% for HYG.
They also come from different issuers: First Trust and iShares. Their fees differ too: 0.86% for FTSL and 0.49% for HYG.
FTSL currently has the higher Sharpe Ratio (1.99 vs 1.61), 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.
Find the right allocation for FTSL and HYG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer