GHVIX vs. HYLD

Last updated Apr 2, 2026

Compare and contrast key facts about GMO High Yield Fund (GHVIX) and High Yield ETF (HYLD).

GHVIX is managed by GMO. It was launched on Jun 25, 2018. HYLD is an actively managed fund by Eve Capital. It was launched on Nov 30, 2010.

Performance

GHVIX vs. HYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO High Yield Fund (GHVIX) and High Yield ETF (HYLD). The values are adjusted to include any dividend payments, if applicable.

GHVIX vs. HYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GHVIX GMO High Yield Fund	-0.70%	9.39%	1.41%	12.94%	-8.06%	10.90%	5.38%	8.91%	3.98%
HYLD High Yield ETF	0.00%	0.00%	0.00%	2.80%	-11.48%	5.41%	3.11%	7.16%	-5.08%

Returns By Period

GHVIX

• 1D: 0.76%
• 1M: -1.15%
• YTD: -0.70%
• 6M: 0.71%
• 1Y: 7.02%
• 3Y*: 6.23%
• 5Y*: 4.64%
• 10Y*: —

HYLD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GHVIX vs. HYLD - Expense Ratio Comparison

GHVIX has a 0.46% expense ratio, which is lower than HYLD's 1.29% expense ratio.

HYLD

High Yield ETF

GHVIX

GMO High Yield Fund

Return for Risk

GHVIX vs. HYLD — Risk / Return Rank

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

GHVIX

GHVIX Risk / Return Rank: 87
GHVIX Sharpe Ratio Rank: 85
GHVIX Sortino Ratio Rank: 87
GHVIX Omega Ratio Rank: 89
GHVIX Calmar Ratio Rank: 85
GHVIX Martin Ratio Rank: 90

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.

GHVIX vs. HYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO High Yield Fund (GHVIX) and High Yield ETF (HYLD). 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.

	GHVIX	HYLD	Difference
Sharpe ratio Return per unit of total volatility	1.73	—	—
Sortino ratio Return per unit of downside risk	2.47	—	—
Omega ratio Gain probability vs. loss probability	1.40	—	—
Calmar ratio Return relative to maximum drawdown	2.28	—	—
Martin ratio Return relative to average drawdown	10.58	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GHVIX	HYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	—	—

Correlation

The correlation between GHVIX and HYLD is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GHVIX vs. HYLD - Dividend Comparison

GHVIX's dividend yield for the trailing twelve months is around 5.72%, while HYLD has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GHVIX GMO High Yield Fund	5.72%	5.68%	7.96%	4.37%	8.11%	19.00%	2.10%	7.76%	3.83%	0.00%	0.00%	0.00%
HYLD High Yield ETF	0.00%	0.00%	0.00%	4.67%	7.86%	6.45%	7.52%	7.46%	7.97%	7.18%	6.59%	10.87%

Drawdowns

Drawdown Indicators

	GHVIX	HYLD	Difference
Max Drawdown Largest peak-to-trough decline	-20.48%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.19%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.54%	—	—
Current Drawdown Current decline from peak	-1.50%	—	—
Average Drawdown Average peak-to-trough decline	-2.69%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	—	—

Volatility

Volatility by Period

	GHVIX	HYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.24%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.60%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.93%	—	—