HISF vs. BYLD
Compare and contrast key facts about First Trust High Income Strategic Focus ETF (HISF) and iShares Yield Optimized Bond ETF (BYLD).
HISF and BYLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HISF is an actively managed fund by First Trust. It was launched on Aug 13, 2014. BYLD is a passively managed fund by iShares that tracks the performance of the Morningstar U.S. Bond Market Yield-Optimized Index. It was launched on Apr 22, 2014.
Performance
HISF vs. BYLD - Performance Comparison
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HISF vs. BYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HISF First Trust High Income Strategic Focus ETF | -0.74% | 8.39% | 3.30% |
BYLD iShares Yield Optimized Bond ETF | -0.20% | 8.41% | 4.89% |
Returns By Period
In the year-to-date period, HISF achieves a -0.74% return, which is significantly lower than BYLD's -0.20% return.
HISF
- 1D
- 0.60%
- 1M
- -1.96%
- YTD
- -0.74%
- 6M
- 0.66%
- 1Y
- 5.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BYLD
- 1D
- 0.54%
- 1M
- -1.76%
- YTD
- -0.20%
- 6M
- 0.93%
- 1Y
- 5.97%
- 3Y*
- 6.04%
- 5Y*
- 2.16%
- 10Y*
- 3.00%
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HISF vs. BYLD - Expense Ratio Comparison
HISF has a 0.87% expense ratio, which is higher than BYLD's 0.17% expense ratio.
Return for Risk
HISF vs. BYLD — Risk / Return Rank
HISF
BYLD
HISF vs. BYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust High Income Strategic Focus ETF (HISF) and iShares Yield Optimized Bond ETF (BYLD). 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.
| HISF | BYLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.42 | 1.30 | +0.12 |
Sortino ratioReturn per unit of downside risk | 1.98 | 1.83 | +0.15 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.22 | -0.39 |
Martin ratioReturn relative to average drawdown | 7.59 | 8.14 | -0.54 |
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
| HISF | BYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.42 | 1.30 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.42 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.32 | 0.55 | +0.77 |
Correlation
The correlation between HISF and BYLD is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
HISF vs. BYLD - Dividend Comparison
HISF's dividend yield for the trailing twelve months is around 4.92%, less than BYLD's 5.36% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HISF First Trust High Income Strategic Focus ETF | 4.92% | 4.69% | 3.92% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BYLD iShares Yield Optimized Bond ETF | 5.36% | 5.32% | 5.31% | 4.45% | 3.39% | 2.18% | 3.41% | 3.67% | 4.22% | 3.22% | 3.14% | 3.37% |
Drawdowns
HISF vs. BYLD - Drawdown Comparison
The maximum HISF drawdown since its inception was -3.86%, smaller than the maximum BYLD drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for HISF and BYLD.
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Drawdown Indicators
| HISF | BYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.86% | -14.75% | +10.89% |
Max Drawdown (1Y)Largest decline over 1 year | -2.90% | -2.72% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.65% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.75% | — |
Current DrawdownCurrent decline from peak | -1.96% | -1.76% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -0.86% | -2.54% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 0.74% | -0.04% |
Volatility
HISF vs. BYLD - Volatility Comparison
The current volatility for First Trust High Income Strategic Focus ETF (HISF) is 1.76%, while iShares Yield Optimized Bond ETF (BYLD) has a volatility of 1.98%. This indicates that HISF experiences smaller price fluctuations and is considered to be less risky than BYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HISF | BYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 1.98% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.26% | 2.70% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.67% | 4.60% | -0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.96% | 5.16% | -1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.96% | 5.43% | -1.47% |