HYBB vs. NHYB

Last updated Jun 25, 2026

HYBB (iShares BB Rated Corporate Bond ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds - HYBB tracks the ICE BofA BB US High Yield Constrained Index (USD) while NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index. Both are passively managed. Their correlation of 0.87 suggests significant overlap in exposure. HYBB charges 0.25%/yr vs 0.08%/yr for NHYB.

Performance

HYBB vs. NHYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares BB Rated Corporate Bond ETF (HYBB) and Nuveen High Yield Corporate Bond ETF (NHYB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYBB achieves a 1.51% return, which is significantly lower than NHYB's 1.93% return.

HYBB

• 1D: 0.03%
• 1M: 0.44%
• YTD: 1.51%
• 6M: 1.48%
• 1Y: 5.78%
• 3Y*: 8.18%
• 5Y*: 3.46%
• 10Y*: —

NHYB

• 1D: 0.02%
• 1M: 0.54%
• YTD: 1.93%
• 6M: 1.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYBB vs. NHYB - Yearly Performance Comparison

	2026 (YTD)	2025
HYBB iShares BB Rated Corporate Bond ETF	1.51%	1.34%
NHYB Nuveen High Yield Corporate Bond ETF	1.93%	1.24%

Correlation

The correlation between HYBB and NHYB is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.87

Return for Risk

HYBB vs. NHYB — Risk / Return Rank

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

HYBB

HYBB Risk / Return Rank: 61
HYBB Sharpe Ratio Rank: 59
HYBB Sortino Ratio Rank: 64
HYBB Omega Ratio Rank: 63
HYBB Calmar Ratio Rank: 53
HYBB Martin Ratio Rank: 65

NHYB

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

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.

HYBB vs. NHYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares BB Rated Corporate Bond ETF (HYBB) and Nuveen High Yield Corporate Bond ETF (NHYB). 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	NHYB	Difference
Sharpe ratio: Return per unit of total volatility	1.76	—	—
Sortino ratio: Return per unit of downside risk	2.63	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	2.34	—	—
Martin ratio: Return relative to average drawdown	10.47	—	—

Drawdowns

HYBB vs. NHYB - Drawdown Comparison

The maximum HYBB drawdown since its inception was -15.28%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for HYBB and NHYB.

Drawdown Indicators

	HYBB	NHYB	Difference
Max Drawdown Largest peak-to-trough decline	-15.28%	-2.40%	-12.88%
Max Drawdown (1Y) Largest decline over 1 year	-2.48%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.28%	—	—
Current Drawdown Current decline from peak	-0.22%	-0.18%	-0.04%
Average Drawdown Average peak-to-trough decline	-3.20%	-0.36%	-2.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	—	—

Volatility

Volatility by Period

	HYBB	NHYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.63%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.31%	3.63%	-0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.94%	3.63%	+3.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.65%	3.63%	+3.02%

HYBB vs. NHYB - Expense Ratio Comparison

HYBB has a 0.25% expense ratio, which is higher than NHYB's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HYBB vs. NHYB - Dividend Comparison

HYBB's dividend yield for the trailing twelve months is around 5.86%, more than NHYB's 4.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
HYBB iShares BB Rated Corporate Bond ETF	5.86%	6.08%	6.22%	6.28%	5.04%	3.86%	0.76%
NHYB Nuveen High Yield Corporate Bond ETF	4.24%	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYBB and NHYB in my portfolio?

HYBB and NHYB have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYBB or NHYB?

On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYBB or NHYB?

NHYB is cheaper with a 0.08% expense ratio, compared with 0.25% for HYBB.

Which ETF pays a higher dividend yield, HYBB or NHYB?

HYBB has the higher dividend yield at 5.86%, compared with 4.24% for NHYB.

What is the main difference between HYBB and NHYB?

HYBB tracks ICE BofA BB US High Yield Constrained Index (USD), while NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index. They also come from different issuers: iShares and Nuveen. Their fees differ too: 0.25% for HYBB and 0.08% for NHYB.