GBND vs. GHYB

Last updated Jul 12, 2026

GBND (Goldman Sachs Core Bond ETF) and GHYB (Goldman Sachs Access High Yield Corporate Bond ETF) are both exchange-traded funds - GBND is a Intermediate Core Bond fund managed by Goldman Sachs, while GHYB is a High Yield Bonds fund tracking the FTSE Goldman Sachs High Yield Corporate Bond Index. Over the past year, GBND returned 4.33% vs 5.87% for GHYB. A 0.58 correlation means they provide meaningful diversification when combined. GBND charges 0.25%/yr vs 0.34%/yr for GHYB.

Performance

GBND vs. GHYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Core Bond ETF (GBND) and Goldman Sachs Access High Yield Corporate Bond ETF (GHYB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GBND achieves a 0.13% return, which is significantly lower than GHYB's 1.71% return.

GBND

• 1D: -0.04%
• 1M: -0.41%
• 6M: -0.10%
• YTD: 0.13%
• 1Y: 4.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GHYB

• 1D: -0.10%
• 1M: 0.25%
• 6M: 1.20%
• YTD: 1.71%
• 1Y: 5.87%
• 3Y*: 8.59%
• 5Y*: 3.86%
• 10Y*: —

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

GBND vs. GHYB - Yearly Performance Comparison

	2026 (YTD)	2025
GBND Goldman Sachs Core Bond ETF	0.13%	3.68%
GHYB Goldman Sachs Access High Yield Corporate Bond ETF	1.71%	4.48%

Correlation

The correlation between GBND and GHYB is 0.58, 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	0.58
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.58

The correlation between GBND and GHYB has been stable across timeframes, ranging from 0.58 to 0.58 - a consistent structural relationship.

Return for Risk

GBND vs. GHYB — Risk / Return Rank

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

GBND

GBND Risk / Return Rank: 36
GBND Sharpe Ratio Rank: 38
GBND Sortino Ratio Rank: 37
GBND Omega Ratio Rank: 36
GBND Calmar Ratio Rank: 35
GBND Martin Ratio Rank: 35

GHYB

GHYB Risk / Return Rank: 64
GHYB Sharpe Ratio Rank: 63
GHYB Sortino Ratio Rank: 68
GHYB Omega Ratio Rank: 68
GHYB Calmar Ratio Rank: 54
GHYB Martin Ratio Rank: 68

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.

GBND vs. GHYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Core Bond ETF (GBND) and Goldman Sachs Access High Yield Corporate Bond ETF (GHYB). 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.

	GBND	GHYB	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.66	-0.57
Sortino ratio: Return per unit of downside risk	1.60	2.47	-0.87
Omega ratio: Gain probability vs. loss probability	1.20	1.32	-0.12
Calmar ratio: Return relative to maximum drawdown	1.43	2.15	-0.72
Martin ratio: Return relative to average drawdown	4.09	9.85	-5.76

GBND vs. GHYB - Sharpe Ratio Comparison

The current GBND Sharpe Ratio is 1.09, which is lower than the GHYB Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of GBND and GHYB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GBND vs. GHYB - Drawdown Comparison

The maximum GBND drawdown since its inception was -2.76%, smaller than the maximum GHYB drawdown of -21.48%. Use the drawdown chart below to compare losses from any high point for GBND and GHYB.

Drawdown Indicators

	GBND	GHYB	Difference
Max Drawdown Largest peak-to-trough decline	-2.76%	-21.48%	+18.72%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-2.67%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.08%	—
Current Drawdown Current decline from peak	-1.60%	-0.28%	-1.32%
Average Drawdown Average peak-to-trough decline	-0.69%	-2.54%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	0.58%	+0.39%

Volatility

GBND vs. GHYB - Volatility Comparison

Goldman Sachs Core Bond ETF (GBND) has a higher volatility of 1.13% compared to Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) at 0.76%. This indicates that GBND's price experiences larger fluctuations and is considered to be riskier than GHYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GBND	GHYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	0.76%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	2.87%	2.75%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	3.64%	3.47%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.64%	7.70%	-4.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.64%	8.24%	-4.60%

GBND vs. GHYB - Expense Ratio Comparison

GBND has a 0.25% expense ratio, which is lower than GHYB's 0.34% expense ratio.

Dividends

GBND vs. GHYB - Dividend Comparison

GBND's dividend yield for the trailing twelve months is around 3.84%, less than GHYB's 6.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GBND Goldman Sachs Core Bond ETF	3.84%	2.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GHYB Goldman Sachs Access High Yield Corporate Bond ETF	6.75%	7.00%	6.65%	6.20%	5.67%	4.46%	4.75%	5.57%	5.68%	1.45%

Frequently Asked Questions

Can I hold both GBND and GHYB in my portfolio?

GBND and GHYB have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GBND or GHYB?

GBND has higher volatility (1.13%) compared to GHYB (0.76%). In terms of maximum drawdown, GBND dropped -2.76% vs GHYB's -21.48%.

Which ETF is better, GBND or GHYB?

On 1-year performance, GHYB leads with 5.87% vs 4.33% for GBND. On fees, GBND is cheaper at 0.25% per year. On volatility, GHYB has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GBND or GHYB?

Over the 1-year period, GHYB has performed better with a 5.87% return vs 4.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GBND or GHYB?

GBND is cheaper with a 0.25% expense ratio, compared with 0.34% for GHYB.

Which ETF pays a higher dividend yield, GBND or GHYB?

GHYB has the higher dividend yield at 6.75%, compared with 3.84% for GBND.

What is the main difference between GBND and GHYB?

GBND is categorized as Intermediate Core Bond, while GHYB is High Yield Bonds. Their fees differ too: 0.25% for GBND and 0.34% for GHYB.

Which has better risk-adjusted returns?

GHYB currently has the higher Sharpe Ratio (1.66 vs 1.09), 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.