HYBI vs. HYDB

Last updated Apr 3, 2026

Compare and contrast key facts about NEOS Enhanced Income Credit Select ETF (HYBI) and iShares High Yield Bond Factor ETF (HYDB).

HYBI and HYDB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYBI is an actively managed fund by Neos. It was launched on Sep 27, 2024. HYDB is a passively managed fund by iShares that tracks the performance of the BlackRock High Yield Defensive Bond Index. It was launched on Jul 11, 2017.

Performance

HYBI vs. HYDB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Enhanced Income Credit Select ETF (HYBI) and iShares High Yield Bond Factor ETF (HYDB). The values are adjusted to include any dividend payments, if applicable.

HYBI vs. HYDB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYBI NEOS Enhanced Income Credit Select ETF	0.39%	6.97%	-0.48%
HYDB iShares High Yield Bond Factor ETF	-0.16%	8.10%	0.03%

Returns By Period

In the year-to-date period, HYBI achieves a 0.39% return, which is significantly higher than HYDB's -0.16% return.

HYBI

• 1D: 0.08%
• 1M: -0.29%
• YTD: 0.39%
• 6M: 1.52%
• 1Y: 7.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYDB

• 1D: 0.25%
• 1M: -0.81%
• YTD: -0.16%
• 6M: 1.00%
• 1Y: 6.33%
• 3Y*: 8.98%
• 5Y*: 4.61%
• 10Y*: —

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

HYBI vs. HYDB - Expense Ratio Comparison

HYBI has a 0.68% expense ratio, which is higher than HYDB's 0.35% expense ratio.

HYBI

NEOS Enhanced Income Credit Select ETF

HYDB

iShares High Yield Bond Factor ETF

Return for Risk

HYBI vs. HYDB — Risk / Return Rank

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

HYBI

HYBI Risk / Return Rank: 78
HYBI Sharpe Ratio Rank: 69
HYBI Sortino Ratio Rank: 74
HYBI Omega Ratio Rank: 85
HYBI Calmar Ratio Rank: 77
HYBI Martin Ratio Rank: 86

HYDB

HYDB Risk / Return Rank: 55
HYDB Sharpe Ratio Rank: 57
HYDB Sortino Ratio Rank: 55
HYDB Omega Ratio Rank: 64
HYDB Calmar Ratio Rank: 43
HYDB Martin Ratio Rank: 56

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.

HYBI vs. HYDB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Enhanced Income Credit Select ETF (HYBI) and iShares High Yield Bond Factor ETF (HYDB). 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.

	HYBI	HYDB	Difference
Sharpe ratio Return per unit of total volatility	1.31	1.08	+0.23
Sortino ratio Return per unit of downside risk	1.97	1.54	+0.43
Omega ratio Gain probability vs. loss probability	1.36	1.25	+0.11
Calmar ratio Return relative to maximum drawdown	2.43	1.33	+1.10
Martin ratio Return relative to average drawdown	11.72	6.40	+5.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYBI vs. HYDB - Sharpe Ratio Comparison

The current HYBI Sharpe Ratio is 1.31, which is comparable to the HYDB Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of HYBI and HYDB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HYBI	HYDB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	1.08	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.70	+0.20

Correlation

The correlation between HYBI and HYDB is 0.88, 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

HYBI vs. HYDB - Dividend Comparison

HYBI's dividend yield for the trailing twelve months is around 8.36%, more than HYDB's 7.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYBI NEOS Enhanced Income Credit Select ETF	8.36%	8.48%	2.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HYDB iShares High Yield Bond Factor ETF	7.19%	7.04%	6.95%	7.00%	6.30%	4.70%	5.81%	5.68%	6.16%	2.70%

Drawdowns

HYBI vs. HYDB - Drawdown Comparison

The maximum HYBI drawdown since its inception was -4.68%, smaller than the maximum HYDB drawdown of -21.58%. Use the drawdown chart below to compare losses from any high point for HYBI and HYDB.

Drawdown Indicators

	HYBI	HYDB	Difference
Max Drawdown Largest peak-to-trough decline	-4.68%	-21.58%	+16.90%
Max Drawdown (1Y) Largest decline over 1 year	-2.35%	-3.48%	+1.13%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.28%	—
Current Drawdown Current decline from peak	-0.88%	-1.32%	+0.44%
Average Drawdown Average peak-to-trough decline	-0.66%	-2.43%	+1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.64%	1.01%	-0.37%

Volatility

HYBI vs. HYDB - Volatility Comparison

The current volatility for NEOS Enhanced Income Credit Select ETF (HYBI) is 1.12%, while iShares High Yield Bond Factor ETF (HYDB) has a volatility of 2.24%. This indicates that HYBI experiences smaller price fluctuations and is considered to be less risky than HYDB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYBI	HYDB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	2.24%	-1.12%
Volatility (6M) Calculated over the trailing 6-month period	2.43%	2.92%	-0.49%
Volatility (1Y) Calculated over the trailing 1-year period	5.55%	5.89%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.10%	7.02%	-1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.10%	7.81%	-2.71%