GHYB vs. SHYG
GHYB (Goldman Sachs Access High Yield Corporate Bond ETF) and SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) are both High Yield Bonds funds - GHYB tracks the FTSE Goldman Sachs High Yield Corporate Bond Index while SHYG tracks the Markit iBoxx USD Liquid High Yield 0-5 Index. Both are passively managed. Over the past 5 years, GHYB returned 3.95%/yr vs 4.78%/yr for SHYG. Their correlation of 0.90 suggests significant overlap in exposure. GHYB charges 0.34%/yr vs 0.30%/yr for SHYG.
Performance
GHYB vs. SHYG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GHYB achieves a 1.55% return, which is significantly lower than SHYG's 1.72% return.
GHYB
- 1D
- -0.02%
- 1M
- 0.58%
- YTD
- 1.55%
- 6M
- 1.70%
- 1Y
- 6.43%
- 3Y*
- 8.96%
- 5Y*
- 3.95%
- 10Y*
- —
SHYG
- 1D
- -0.07%
- 1M
- 0.39%
- YTD
- 1.72%
- 6M
- 1.94%
- 1Y
- 6.03%
- 3Y*
- 8.27%
- 5Y*
- 4.78%
- 10Y*
- 5.21%
GHYB vs. SHYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 1.55% | 9.38% | 7.76% | 12.13% | -11.02% | 3.21% | 6.38% | 14.55% | -2.01% | 0.27% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 1.72% | 7.94% | 8.17% | 10.38% | -4.71% | 4.60% | 3.15% | 9.93% | 0.02% | 0.76% |
Correlation
The correlation between GHYB and SHYG is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2017 | 0.90 |
The correlation between GHYB and SHYG has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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
GHYB vs. SHYG — Risk / Return Rank
GHYB
SHYG
GHYB vs. SHYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). 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.
| GHYB | SHYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.38 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 3.46 | -1.04 |
| Martin ratioReturn relative to average drawdown | 10.98 | 14.95 | -3.97 |
Loading charts...
Drawdowns
GHYB vs. SHYG - Drawdown Comparison
The maximum GHYB drawdown since its inception was -21.48%, which is greater than SHYG's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for GHYB and SHYG.
Loading charts...
Drawdown Indicators
| GHYB | SHYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.48% | -19.26% | -2.22% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -1.75% | -0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -4.66% | -4.53% | -0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -16.08% | -9.39% | -6.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.26% | — |
Current DrawdownCurrent decline from peak | -0.10% | -0.16% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -1.44% | -1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 0.40% | +0.19% |
Volatility
GHYB vs. SHYG - Volatility Comparison
Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) has a higher volatility of 0.93% compared to iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) at 0.83%. This indicates that GHYB's price experiences larger fluctuations and is considered to be riskier than SHYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GHYB | SHYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.83% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 2.57% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.52% | 3.20% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.70% | 5.74% | +1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.26% | 6.41% | +1.85% |
GHYB vs. SHYG - Expense Ratio Comparison
GHYB has a 0.34% expense ratio, which is higher than SHYG's 0.30% expense ratio.
Dividends
GHYB vs. SHYG - Dividend Comparison
GHYB's dividend yield for the trailing twelve months is around 6.79%, less than SHYG's 7.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 6.79% | 7.00% | 6.65% | 6.20% | 5.67% | 4.46% | 4.75% | 5.57% | 5.68% | 1.45% | 0.00% | 0.00% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 7.00% | 7.03% | 6.93% | 6.54% | 5.57% | 4.83% | 5.07% | 5.33% | 5.90% | 5.49% | 5.53% | 5.17% |
Frequently Asked Questions
With a correlation of 0.92, GHYB and SHYG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GHYB has higher volatility (0.93%) compared to SHYG (0.83%). In terms of maximum drawdown, GHYB dropped -21.48% vs SHYG's -19.26%.
On 5-year performance, SHYG leads with 4.78% vs 3.95% for GHYB. On fees, SHYG is cheaper at 0.30% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SHYG has performed better with a 4.78% return vs 3.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHYG is cheaper with a 0.30% expense ratio, compared with 0.34% for GHYB.
SHYG has the higher dividend yield at 7.00%, compared with 6.79% for GHYB.
GHYB tracks FTSE Goldman Sachs High Yield Corporate Bond Index, while SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.34% for GHYB and 0.30% for SHYG.
SHYG currently has the higher Sharpe Ratio (1.89 vs 1.84), 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 GHYB and SHYG
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