GHYG vs. FLOT
GHYG (iShares US & Intl High Yield Corp Bond ETF) and FLOT (iShares Floating Rate Bond ETF) are both exchange-traded funds - GHYG is a High Yield Bonds fund tracking the Markit iBoxx Global Developed Markets High Yield Index, while FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index. Both are passively managed. Over the past 10 years, GHYG returned 4.68%/yr vs 3.03%/yr for FLOT. At a 0.14 correlation, their price movements are largely independent. GHYG charges 0.40%/yr vs 0.15%/yr for FLOT.
Performance
GHYG vs. FLOT - Performance Comparison
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Returns By Period
In the year-to-date period, GHYG achieves a 0.09% return, which is significantly lower than FLOT's 1.87% return. Over the past 10 years, GHYG has outperformed FLOT with an annualized return of 4.68%, while FLOT has yielded a comparatively lower 3.03% annualized return.
GHYG
- 1D
- -0.02%
- 1M
- -1.01%
- YTD
- 0.09%
- 6M
- 1.21%
- 1Y
- 5.72%
- 3Y*
- 8.59%
- 5Y*
- 3.16%
- 10Y*
- 4.68%
FLOT
- 1D
- 0.00%
- 1M
- 0.41%
- YTD
- 1.87%
- 6M
- 2.15%
- 1Y
- 4.85%
- 3Y*
- 5.60%
- 5Y*
- 4.20%
- 10Y*
- 3.03%
GHYG vs. FLOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GHYG iShares US & Intl High Yield Corp Bond ETF | 0.09% | 11.28% | 5.85% | 13.29% | -12.15% | 1.62% | 6.68% | 13.47% | -3.79% | 8.97% |
FLOT iShares Floating Rate Bond ETF | 1.87% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 0.87% | 3.97% | 1.48% | 1.65% |
Correlation
The correlation between GHYG and FLOT is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2012 | 0.14 |
The correlation between GHYG and FLOT shifts across timeframes, from 0.14 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GHYG vs. FLOT — Risk / Return Rank
GHYG
FLOT
GHYG vs. FLOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares US & Intl High Yield Corp Bond ETF (GHYG) and iShares Floating Rate Bond ETF (FLOT). 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.
| GHYG | FLOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.32 | ||
| Sortino ratioReturn per unit of downside risk | -9.94 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 3.22 | -2.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 11.27 | -9.78 |
| Martin ratioReturn relative to average drawdown | 5.56 | 104.83 | -99.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GHYG | FLOT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 6.54 | -5.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 2.38 | -1.96 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.73 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.66 | -0.11 |
Drawdowns
GHYG vs. FLOT - Drawdown Comparison
The maximum GHYG drawdown since its inception was -27.36%, which is greater than FLOT's maximum drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for GHYG and FLOT.
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Drawdown Indicators
| GHYG | FLOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.36% | -13.54% | -13.82% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -0.43% | -3.41% |
Max Drawdown (3Y)Largest decline over 3 years | -4.46% | -1.57% | -2.89% |
Max Drawdown (5Y)Largest decline over 5 years | -20.44% | -2.36% | -18.08% |
Max Drawdown (10Y)Largest decline over 10 years | -27.36% | -13.54% | -13.82% |
Current DrawdownCurrent decline from peak | -1.26% | -0.02% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -3.35% | -0.21% | -3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 0.05% | +0.98% |
Volatility
GHYG vs. FLOT - Volatility Comparison
iShares US & Intl High Yield Corp Bond ETF (GHYG) has a higher volatility of 1.85% compared to iShares Floating Rate Bond ETF (FLOT) at 0.20%. This indicates that GHYG's price experiences larger fluctuations and is considered to be riskier than FLOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GHYG | FLOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.85% | 0.20% | +1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 3.75% | 0.62% | +3.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 0.75% | +3.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.64% | 1.77% | +5.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.77% | 4.15% | +4.62% |
GHYG vs. FLOT - Expense Ratio Comparison
GHYG has a 0.40% expense ratio, which is higher than FLOT's 0.15% expense ratio.
Dividends
GHYG vs. FLOT - Dividend Comparison
GHYG's dividend yield for the trailing twelve months is around 6.27%, more than FLOT's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.54% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
GHYG iShares US & Intl High Yield Corp Bond ETF | 6.27% | 6.03% | 6.11% | 5.60% | 4.64% | 4.57% | 4.36% | 4.61% | 5.62% | 4.60% | 4.61% | 4.79% |
Frequently Asked Questions
GHYG and FLOT have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GHYG has higher volatility (1.85%) compared to FLOT (0.20%). In terms of maximum drawdown, GHYG dropped -27.36% vs FLOT's -13.54%.
On 10-year performance, GHYG leads with 4.68% vs 3.03% for FLOT. On fees, FLOT is cheaper at 0.15% per year. On volatility, FLOT has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GHYG has performed better with a 4.68% return vs 3.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLOT is cheaper with a 0.15% expense ratio, compared with 0.40% for GHYG.
GHYG has the higher dividend yield at 6.27%, compared with 4.54% for FLOT.
GHYG is categorized as High Yield Bonds, while FLOT is Ultrashort Bond. GHYG tracks Markit iBoxx Global Developed Markets High Yield Index, while FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index. Their fees differ too: 0.40% for GHYG and 0.15% for FLOT.
FLOT currently has the higher Sharpe Ratio (6.54 vs 1.22), 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.
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