HG vs. USHY

Last updated Jun 3, 2026

HG (Hamilton Insurance Group Ltd.) is a stock, while USHY (iShares Broad USD High Yield Corporate Bond ETF) is High Yield Bonds fund tracking the ICE BofA US High Yield Constrained. Over the past year, HG returned 37.26% vs 7.48% for USHY. At a 0.20 correlation, their price movements are largely independent.

Performance

HG vs. USHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hamilton Insurance Group Ltd. (HG) and iShares Broad USD High Yield Corporate Bond ETF (USHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HG achieves a 9.81% return, which is significantly higher than USHY's 1.70% return.

HG

• 1D: -1.38%
• 1M: -9.34%
• YTD: 9.81%
• 6M: 13.97%
• 1Y: 37.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USHY

• 1D: 0.05%
• 1M: 0.35%
• YTD: 1.70%
• 6M: 2.22%
• 1Y: 7.48%
• 3Y*: 9.01%
• 5Y*: 4.34%
• 10Y*: —

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

HG vs. USHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HG Hamilton Insurance Group Ltd.	9.81%	46.61%	27.29%	-0.33%
USHY iShares Broad USD High Yield Corporate Bond ETF	1.70%	8.81%	8.45%	5.43%

Correlation

The correlation between HG and USHY is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (All Time) Calculated using the full available price history since Nov 13, 2023	0.20

Return for Risk

HG vs. USHY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HG

HG Risk / Return Rank: 79
HG Sharpe Ratio Rank: 78
HG Sortino Ratio Rank: 74
HG Omega Ratio Rank: 71
HG Calmar Ratio Rank: 83
HG Martin Ratio Rank: 88

USHY

USHY Risk / Return Rank: 66
USHY Sharpe Ratio Rank: 61
USHY Sortino Ratio Rank: 67
USHY Omega Ratio Rank: 66
USHY Calmar Ratio Rank: 61
USHY Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HG vs. USHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Insurance Group Ltd. (HG) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.

	HG	USHY	Difference
Sharpe ratio Return per unit of total volatility	1.34	2.07	-0.73
Sortino ratio Return per unit of downside risk	2.01	3.12	-1.11
Omega ratio Gain probability vs. loss probability	1.24	1.40	-0.17
Calmar ratio Return relative to maximum drawdown	3.22	3.08	+0.13
Martin ratio Return relative to average drawdown	10.62	13.87	-3.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HG vs. USHY - Sharpe Ratio Comparison

The current HG Sharpe Ratio is 1.34, which is lower than the USHY Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of HG and USHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HG	USHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	2.07	-0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.58	+0.45

Drawdowns

HG vs. USHY - Drawdown Comparison

The maximum HG drawdown since its inception was -21.07%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for HG and USHY.

Drawdown Indicators

	HG	USHY	Difference
Max Drawdown Largest peak-to-trough decline	-21.07%	-22.44%	+1.37%
Max Drawdown (1Y) Largest decline over 1 year	-12.69%	-2.43%	-10.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.56%	—
Current Drawdown Current decline from peak	-12.69%	-0.00%	-12.69%
Average Drawdown Average peak-to-trough decline	-5.40%	-2.67%	-2.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	0.54%	+3.30%

Volatility

HG vs. USHY - Volatility Comparison

Hamilton Insurance Group Ltd. (HG) has a higher volatility of 8.72% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.14%. This indicates that HG's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HG	USHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.72%	1.14%	+7.58%
Volatility (6M) Calculated over the trailing 6-month period	18.04%	2.90%	+15.14%
Volatility (1Y) Calculated over the trailing 1-year period	28.07%	3.63%	+24.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.41%	7.34%	+24.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.41%	8.25%	+23.16%

Dividends

HG vs. USHY - Dividend Comparison

HG's dividend yield for the trailing twelve months is around 6.99%, more than USHY's 6.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HG Hamilton Insurance Group Ltd.	6.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USHY iShares Broad USD High Yield Corporate Bond ETF	6.90%	6.79%	6.89%	6.63%	6.08%	5.07%	5.30%	5.92%	6.30%	0.73%

Frequently Asked Questions

Can I hold both HG and USHY in my portfolio?

HG and USHY have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HG or USHY?

HG has higher volatility (8.72%) compared to USHY (1.14%). In terms of maximum drawdown, HG dropped -21.07% vs USHY's -22.44%.

Which has better risk-adjusted returns?

USHY currently has the higher Sharpe Ratio (2.07 vs 1.34), 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.