HFSI vs. SHYG
HFSI (Hartford Strategic Income ETF) and SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) are both exchange-traded funds - HFSI is a Multisector Bonds fund actively managed by Hartford, while SHYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield 0-5 Index. HFSI is actively managed, while SHYG is passively managed. Over the past 3 years, HFSI returned 8.37%/yr vs 8.12%/yr for SHYG. A 0.59 correlation means they provide meaningful diversification when combined. HFSI charges 0.49%/yr vs 0.30%/yr for SHYG.
Performance
HFSI vs. SHYG - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HFSI having a 1.38% return and SHYG slightly higher at 1.44%.
HFSI
- 1D
- -0.20%
- 1M
- 0.87%
- YTD
- 1.38%
- 6M
- 1.51%
- 1Y
- 8.47%
- 3Y*
- 8.37%
- 5Y*
- —
- 10Y*
- —
SHYG
- 1D
- -0.24%
- 1M
- 0.35%
- YTD
- 1.44%
- 6M
- 1.95%
- 1Y
- 6.50%
- 3Y*
- 8.12%
- 5Y*
- 4.83%
- 10Y*
- 5.18%
HFSI vs. SHYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HFSI Hartford Strategic Income ETF | 1.38% | 9.56% | 7.91% | 9.91% | -12.60% | -1.57% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 1.44% | 7.94% | 8.17% | 10.38% | -4.71% | 0.48% |
Correlation
The correlation between HFSI and SHYG is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021 | 0.59 |
The correlation between HFSI and SHYG has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.
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Return for Risk
HFSI vs. SHYG — Risk / Return Rank
HFSI
SHYG
HFSI vs. SHYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hartford Strategic Income ETF (HFSI) 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.
| HFSI | SHYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.41 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 3.73 | -0.95 |
| Martin ratioReturn relative to average drawdown | 11.13 | 16.23 | -5.10 |
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
| HFSI | SHYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 2.07 | +0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.85 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.81 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.73 | -0.18 |
Drawdowns
HFSI vs. SHYG - Drawdown Comparison
The maximum HFSI drawdown since its inception was -19.34%, roughly equal to the maximum SHYG drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for HFSI and SHYG.
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Drawdown Indicators
| HFSI | SHYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.34% | -19.26% | -0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -1.75% | -1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -5.11% | -4.53% | -0.58% |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.39% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.26% | — |
Current DrawdownCurrent decline from peak | -0.20% | -0.24% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -5.72% | -1.44% | -4.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 0.40% | +0.36% |
Volatility
HFSI vs. SHYG - Volatility Comparison
Hartford Strategic Income ETF (HFSI) has a higher volatility of 1.13% compared to iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) at 0.94%. This indicates that HFSI'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.
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Volatility by Period
| HFSI | SHYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 0.94% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 2.51% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 3.16% | +0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.97% | 5.73% | -0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.97% | 6.42% | -1.45% |
HFSI vs. SHYG - Expense Ratio Comparison
HFSI has a 0.49% expense ratio, which is higher than SHYG's 0.30% expense ratio.
Dividends
HFSI vs. SHYG - Dividend Comparison
HFSI's dividend yield for the trailing twelve months is around 5.54%, less than SHYG's 7.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HFSI Hartford Strategic Income ETF | 5.54% | 5.67% | 6.51% | 5.77% | 4.87% | 0.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 7.02% | 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
HFSI and SHYG have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HFSI has higher volatility (1.13%) compared to SHYG (0.94%). In terms of maximum drawdown, HFSI dropped -19.34% vs SHYG's -19.26%.
On 3-year performance, HFSI leads with 8.37% vs 8.12% for SHYG. On fees, SHYG is cheaper at 0.30% per year. On volatility, SHYG has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HFSI has performed better with a 8.37% return vs 8.12%. 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 0.49% for HFSI.
SHYG has the higher dividend yield at 7.02%, compared with 5.54% for HFSI.
HFSI is categorized as Multisector Bonds, while SHYG is High Yield Bonds. They also come from different issuers: Hartford and iShares. Their fees differ too: 0.49% for HFSI and 0.30% for SHYG.
HFSI currently has the higher Sharpe Ratio (2.37 vs 2.07), 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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