GIF vs. HYGW

Last updated Aug 1, 2026

GIF (REX Growth & Income Universe ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both Derivative Income funds. GIF is actively managed, while HYGW is passively managed. Their 0.39 correlation means their historical movements had little consistent relationship. GIF charges 0.99%/yr vs 0.69%/yr for HYGW.

Performance

GIF vs. HYGW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX Growth & Income Universe ETF (GIF) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GIF

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

HYGW

• 1D: 0.14%
• 1M: 0.03%
• 6M: 1.81%
• YTD: 2.36%
• 1Y: 5.90%
• 3Y*: 5.30%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.68%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	$480.97K	$636.40K	$814.79K

GIF vs. HYGW - Yearly Performance Comparison

	2026 (YTD)
GIF REX Growth & Income Universe ETF	12,941.67%
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	1.31%

Correlation

The correlation between GIF and HYGW is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 26, 2026	0.39

Return for Risk

GIF vs. HYGW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GIF

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HYGW

HYGW Risk / Return Rank: 88
HYGW Sharpe Ratio Rank: 86
HYGW Sortino Ratio Rank: 87
HYGW Omega Ratio Rank: 90
HYGW Calmar Ratio Rank: 85
HYGW Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GIF vs. HYGW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX Growth & Income Universe ETF (GIF) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.

	GIF	HYGW	Difference
Sharpe ratio: Return per unit of total volatility	—	2.03	—
Sortino ratio: Return per unit of downside risk	—	2.95	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	3.26	—
Martin ratio: Return relative to average drawdown	—	14.57	—

Drawdowns

Drawdown Indicators

	GIF	HYGW	Difference
Max Drawdown Largest peak-to-trough decline	—	-5.49%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-1.82%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.42%	—
Current Drawdown Current decline from peak	—	-0.21%	—
Average Drawdown Average peak-to-trough decline	—	-0.59%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.41%	—

Volatility

Volatility by Period

	GIF	HYGW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.80%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	2.92%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	4.62%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.62%	—

GIF vs. HYGW - Expense Ratio Comparison

GIF has a 0.99% expense ratio, which is higher than HYGW's 0.69% expense ratio.

Dividends

GIF vs. HYGW - Dividend Comparison

GIF's dividend yield for the trailing twelve months is around 109.48%, more than HYGW's 10.71% yield.

Position	TTM	2025	2024	2023	2022
GIF REX Growth & Income Universe ETF	109.48%	0.00%	0.00%	0.00%	0.00%
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	10.71%	12.53%	12.30%	15.98%	8.71%

Frequently Asked Questions

Can I hold both GIF and HYGW in my portfolio?

GIF and HYGW have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GIF or HYGW?

On fees, HYGW is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GIF or HYGW?

HYGW is cheaper with a 0.69% expense ratio, compared with 0.99% for GIF.

Which ETF pays a higher dividend yield, GIF or HYGW?

GIF has the higher dividend yield at 109.48%, compared with 10.71% for HYGW.

What is the main difference between GIF and HYGW?

They also come from different issuers: REX and iShares. Their fees differ too: 0.99% for GIF and 0.69% for HYGW.