GHYB vs. FALN
Compare and contrast key facts about Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) and iShares Fallen Angels USD Bond ETF (FALN).
GHYB and FALN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GHYB is a passively managed fund by Goldman Sachs that tracks the performance of the FTSE Goldman Sachs High Yield Corporate Bond Index. It was launched on Sep 5, 2017. FALN is a passively managed fund by iShares that tracks the performance of the Bloomberg US High Yield Fallen Angel 3% Capped Index. It was launched on Jun 14, 2016. Both GHYB and FALN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GHYB or FALN.
Key characteristics
| GHYB | FALN | |
|---|---|---|
| YTD Return | 0.61% | 1.13% |
| 1Y Return | 8.32% | 11.29% |
| 3Y Return (Ann) | 0.96% | 1.01% |
| 5Y Return (Ann) | 3.04% | 4.95% |
| Sharpe Ratio | 1.26 | 1.97 |
| Daily Std Dev | 6.61% | 5.85% |
| Max Drawdown | -21.48% | -29.22% |
| Current Drawdown | -1.47% | -1.83% |
Correlation
The correlation between GHYB and FALN is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
GHYB vs. FALN - Performance Comparison
In the year-to-date period, GHYB achieves a 0.61% return, which is significantly lower than FALN's 1.13% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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GHYB vs. FALN - Expense Ratio Comparison
GHYB has a 0.34% expense ratio, which is higher than FALN's 0.25% expense ratio.
Risk-Adjusted Performance
GHYB vs. FALN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) and iShares Fallen Angels USD Bond ETF (FALN). 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.
Dividends
GHYB vs. FALN - Dividend Comparison
GHYB's dividend yield for the trailing twelve months is around 6.44%, more than FALN's 5.86% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 6.44% | 6.20% | 5.67% | 4.46% | 4.75% | 5.57% | 5.68% | 1.45% | 0.00% |
FALN iShares Fallen Angels USD Bond ETF | 5.86% | 5.37% | 5.08% | 3.40% | 5.14% | 5.35% | 5.97% | 6.98% | 3.55% |
Drawdowns
GHYB vs. FALN - Drawdown Comparison
The maximum GHYB drawdown since its inception was -21.48%, smaller than the maximum FALN drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for GHYB and FALN. For additional features, visit the drawdowns tool.
Volatility
GHYB vs. FALN - Volatility Comparison
Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) and iShares Fallen Angels USD Bond ETF (FALN) have volatilities of 1.71% and 1.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.