HYBB vs. HYS
HYBB (iShares BB Rated Corporate Bond ETF) and HYS (PIMCO 0-5 Year High Yield Corporate Bond Index ETF) are both High Yield Bonds funds - HYBB tracks the ICE BofA BB US High Yield Constrained Index (USD) while HYS tracks the ICE BofA 0-5 Year US High Yield Constrained Index. Both are passively managed. Over the past 5 years, HYBB returned 3.40%/yr vs 5.16%/yr for HYS. Their correlation of 0.90 means they have usually moved in the same direction. HYBB charges 0.25%/yr vs 0.56%/yr for HYS.
Performance
HYBB vs. HYS - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with HYBB having a 1.79% return and HYS slightly lower at 1.78%.
HYBB
- 1D
- 0.24%
- 1M
- -0.23%
- 6M
- 1.29%
- YTD
- 1.79%
- 1Y
- 5.43%
- 3Y*
- 7.76%
- 5Y*
- 3.40%
- 10Y*
- —
- ALL TIME*
- 4.13%
HYS
- 1D
- 0.36%
- 1M
- 0.08%
- 6M
- 1.41%
- YTD
- 1.78%
- 1Y
- 5.43%
- 3Y*
- 8.31%
- 5Y*
- 5.16%
- 10Y*
- 5.14%
- ALL TIME*
- 5.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.65M | $2.05M | $1.81M | |
| $7.18M | $9.01M | $11.02M |
HYBB vs. HYS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | 1.79% | 8.95% | 6.35% | 10.53% | -10.11% | 3.36% | 4.46% |
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 1.78% | 8.80% | 8.42% | 11.38% | -5.42% | 4.77% | 5.20% |
Correlation
The correlation between HYBB and HYS is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2020 | 0.90 |
The correlation between HYBB and HYS has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.
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Return for Risk
HYBB vs. HYS — Risk / Return Rank
HYBB
HYS
HYBB vs. HYS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares BB Rated Corporate Bond ETF (HYBB) and PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS). 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.
| HYBB | HYS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.30 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 2.89 | -0.70 |
| Martin ratioReturn relative to average drawdown | 9.76 | 11.38 | -1.62 |
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Drawdowns
HYBB vs. HYS - Drawdown Comparison
The maximum HYBB drawdown since its inception was -15.28%, smaller than the maximum HYS drawdown of -20.91%. Use the drawdown chart below to compare losses from any high point for HYBB and HYS.
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Drawdown Indicators
| HYBB | HYS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.28% | -20.91% | +5.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.48% | -1.88% | -0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -4.01% | -4.98% | +0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -15.28% | -10.61% | -4.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.91% | — |
Current DrawdownCurrent decline from peak | -0.28% | -0.17% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -3.14% | -1.52% | -1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.48% | +0.08% |
Volatility
HYBB vs. HYS - Volatility Comparison
iShares BB Rated Corporate Bond ETF (HYBB) and PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) have volatilities of 0.81% and 0.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYBB | HYS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 0.84% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 2.82% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 3.41% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.94% | 6.26% | +0.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.60% | 6.78% | -0.18% |
HYBB vs. HYS - Expense Ratio Comparison
HYBB has a 0.25% expense ratio, which is lower than HYS's 0.56% expense ratio.
Dividends
HYBB vs. HYS - Dividend Comparison
HYBB's dividend yield for the trailing twelve months is around 5.92%, less than HYS's 7.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | 5.92% | 6.08% | 6.22% | 6.28% | 5.04% | 3.86% | 0.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 7.48% | 7.20% | 7.43% | 6.44% | 5.01% | 3.74% | 4.52% | 4.98% | 4.64% | 5.01% | 5.13% | 5.22% |
Frequently Asked Questions
HYBB and HYS have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYS has higher volatility (0.84%) compared to HYBB (0.81%). In terms of maximum drawdown, HYBB dropped -15.28% vs HYS's -20.91%.
On 5-year performance, HYS leads with 5.16% vs 3.40% for HYBB. On fees, HYBB is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYS has performed better with a 5.16% return vs 3.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYBB is cheaper with a 0.25% expense ratio, compared with 0.56% for HYS.
HYS has the higher dividend yield at 7.48%, compared with 5.92% for HYBB.
HYBB tracks ICE BofA BB US High Yield Constrained Index (USD), while HYS tracks ICE BofA 0-5 Year US High Yield Constrained Index. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.25% for HYBB and 0.56% for HYS.
HYBB currently has the higher Sharpe Ratio (1.63 vs 1.60), 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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