HYBL vs. NHYB
HYBL (SPDR Blackstone High Income ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds. HYBL is actively managed, while NHYB is passively managed. A 0.73 correlation means they provide meaningful diversification when combined. HYBL charges 0.70%/yr vs 0.08%/yr for NHYB.
Performance
HYBL vs. NHYB - Performance Comparison
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Returns By Period
In the year-to-date period, HYBL achieves a 1.29% return, which is significantly lower than NHYB's 1.91% return.
HYBL
- 1D
- -0.02%
- 1M
- 0.32%
- YTD
- 1.29%
- 6M
- 1.58%
- 1Y
- 5.82%
- 3Y*
- 8.64%
- 5Y*
- —
- 10Y*
- —
NHYB
- 1D
- -0.04%
- 1M
- 0.52%
- YTD
- 1.91%
- 6M
- 1.99%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYBL vs. NHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HYBL SPDR Blackstone High Income ETF | 1.29% | 1.74% |
NHYB Nuveen High Yield Corporate Bond ETF | 1.91% | 1.24% |
Correlation
The correlation between HYBL and NHYB is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025 | 0.73 |
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Return for Risk
HYBL vs. NHYB — Risk / Return Rank
HYBL
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYBL vs. NHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Blackstone High Income ETF (HYBL) 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.
| HYBL | NHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.44 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | — | — |
| Martin ratioReturn relative to average drawdown | 8.88 | — | — |
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Drawdowns
HYBL vs. NHYB - Drawdown Comparison
The maximum HYBL drawdown since its inception was -8.46%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for HYBL and NHYB.
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Drawdown Indicators
| HYBL | NHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.46% | -2.40% | -6.06% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.32% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | -0.20% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -1.34% | -0.36% | -0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | — | — |
Volatility
HYBL vs. NHYB - Volatility Comparison
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Volatility by Period
| HYBL | NHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.15% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.65% | 3.64% | -0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.55% | 3.64% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.55% | 3.64% | +0.91% |
HYBL vs. NHYB - Expense Ratio Comparison
HYBL has a 0.70% expense ratio, which is higher than NHYB's 0.08% expense ratio.
Dividends
HYBL vs. NHYB - Dividend Comparison
HYBL's dividend yield for the trailing twelve months is around 7.10%, more than NHYB's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYBL SPDR Blackstone High Income ETF | 7.10% | 7.22% | 7.88% | 7.93% | 5.10% |
NHYB Nuveen High Yield Corporate Bond ETF | 4.25% | 1.28% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYBL and NHYB have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
NHYB is cheaper with a 0.08% expense ratio, compared with 0.70% for HYBL.
HYBL has the higher dividend yield at 7.10%, compared with 4.25% for NHYB.
They also come from different issuers: State Street and Nuveen. Their fees differ too: 0.70% for HYBL and 0.08% for NHYB.
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