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HYBB vs. PIAMX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

HYBB vs. PIAMX - Performance Comparison

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

0.00%1.00%2.00%3.00%4.00%5.00%6.00%JuneJulyAugustSeptemberOctoberNovember
4.95%
6.17%
HYBB
PIAMX

Returns By Period

In the year-to-date period, HYBB achieves a 6.60% return, which is significantly lower than PIAMX's 10.39% return.


HYBB

YTD

6.60%

1M

0.53%

6M

4.95%

1Y

10.49%

5Y (annualized)

N/A

10Y (annualized)

N/A

PIAMX

YTD

10.39%

1M

0.80%

6M

6.18%

1Y

14.53%

5Y (annualized)

6.48%

10Y (annualized)

N/A

Key characteristics


HYBBPIAMX
Sharpe Ratio2.475.39
Sortino Ratio3.748.75
Omega Ratio1.472.45
Calmar Ratio2.2812.64
Martin Ratio18.9862.68
Ulcer Index0.57%0.23%
Daily Std Dev4.37%2.72%
Max Drawdown-15.27%-18.15%
Current Drawdown-0.61%0.00%

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HYBB vs. PIAMX - Expense Ratio Comparison

HYBB has a 0.25% expense ratio, which is higher than PIAMX's 0.20% 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%.


HYBB
iShares BB Rated Corporate Bond ETF
Expense ratio chart for HYBB: current value at 0.25% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.25%
Expense ratio chart for PIAMX: current value at 0.20% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.20%

Correlation

-0.50.00.51.00.5

The correlation between HYBB and PIAMX is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Risk-Adjusted Performance

HYBB vs. PIAMX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares BB Rated Corporate Bond ETF (HYBB) and PIA High Yield (MACS) Fund (PIAMX). 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.


Sharpe ratio
The chart of Sharpe ratio for HYBB, currently valued at 2.47, compared to the broader market0.002.004.002.475.39
The chart of Sortino ratio for HYBB, currently valued at 3.74, compared to the broader market-2.000.002.004.006.008.0010.0012.003.748.75
The chart of Omega ratio for HYBB, currently valued at 1.47, compared to the broader market0.501.001.502.002.503.001.472.45
The chart of Calmar ratio for HYBB, currently valued at 2.28, compared to the broader market0.005.0010.0015.002.2812.64
The chart of Martin ratio for HYBB, currently valued at 18.98, compared to the broader market0.0020.0040.0060.0080.00100.0018.9862.68
HYBB
PIAMX

The current HYBB Sharpe Ratio is 2.47, which is lower than the PIAMX Sharpe Ratio of 5.39. The chart below compares the historical Sharpe Ratios of HYBB and PIAMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio2.003.004.005.006.00JuneJulyAugustSeptemberOctoberNovember
2.47
5.39
HYBB
PIAMX

Dividends

HYBB vs. PIAMX - Dividend Comparison

HYBB's dividend yield for the trailing twelve months is around 6.14%, less than PIAMX's 8.37% yield.


TTM2023202220212020201920182017
HYBB
iShares BB Rated Corporate Bond ETF
6.14%6.28%5.05%4.18%0.76%0.00%0.00%0.00%
PIAMX
PIA High Yield (MACS) Fund
8.37%8.12%8.72%7.03%6.63%6.74%6.66%0.06%

Drawdowns

HYBB vs. PIAMX - Drawdown Comparison

The maximum HYBB drawdown since its inception was -15.27%, smaller than the maximum PIAMX drawdown of -18.15%. Use the drawdown chart below to compare losses from any high point for HYBB and PIAMX. For additional features, visit the drawdowns tool.


-1.40%-1.20%-1.00%-0.80%-0.60%-0.40%-0.20%0.00%JuneJulyAugustSeptemberOctoberNovember
-0.61%
0
HYBB
PIAMX

Volatility

HYBB vs. PIAMX - Volatility Comparison

iShares BB Rated Corporate Bond ETF (HYBB) has a higher volatility of 0.98% compared to PIA High Yield (MACS) Fund (PIAMX) at 0.57%. This indicates that HYBB's price experiences larger fluctuations and is considered to be riskier than PIAMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.40%0.60%0.80%1.00%1.20%1.40%JuneJulyAugustSeptemberOctoberNovember
0.98%
0.57%
HYBB
PIAMX