HYBB vs. PIAMX
Compare and contrast key facts about iShares BB Rated Corporate Bond ETF (HYBB) and PIA High Yield (MACS) Fund (PIAMX).
HYBB is a passively managed fund by iShares that tracks the performance of the ICE BofA BB US High Yield Constrained Index (USD). It was launched on Oct 6, 2020. PIAMX is managed by PIA Mutual Funds. It was launched on Dec 26, 2017.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYBB or PIAMX.
Key characteristics
| HYBB | PIAMX | |
|---|---|---|
| YTD Return | 6.46% | 10.26% |
| 1Y Return | 11.99% | 15.51% |
| 3Y Return (Ann) | 2.00% | 4.41% |
| Sharpe Ratio | 2.65 | 5.61 |
| Sortino Ratio | 4.07 | 9.29 |
| Omega Ratio | 1.51 | 2.55 |
| Calmar Ratio | 1.97 | 8.36 |
| Martin Ratio | 21.24 | 66.41 |
| Ulcer Index | 0.56% | 0.23% |
| Daily Std Dev | 4.47% | 2.77% |
| Max Drawdown | -15.27% | -18.15% |
| Current Drawdown | -0.74% | 0.00% |
Correlation
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.
Performance
HYBB vs. PIAMX - Performance Comparison
In the year-to-date period, HYBB achieves a 6.46% return, which is significantly lower than PIAMX's 10.26% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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%.
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.
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.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
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.
Volatility
HYBB vs. PIAMX - Volatility Comparison
iShares BB Rated Corporate Bond ETF (HYBB) has a higher volatility of 1.12% compared to PIA High Yield (MACS) Fund (PIAMX) at 0.63%. 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.