HYBX vs. MHY
HYBX (TCW High Yield Bond ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. Both are actively managed. At a 0.25 correlation, their price movements are largely independent. HYBX charges 0.50%/yr vs 0.69%/yr for MHY.
Performance
HYBX vs. MHY - Performance Comparison
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Returns By Period
In the year-to-date period, HYBX achieves a 2.59% return, which is significantly lower than MHY's 3.85% return.
HYBX
- 1D
- -0.19%
- 1M
- 0.84%
- YTD
- 2.59%
- 6M
- 2.05%
- 1Y
- 5.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MHY
- 1D
- 0.31%
- 1M
- 1.46%
- YTD
- 3.85%
- 6M
- 4.04%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYBX vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HYBX TCW High Yield Bond ETF | 2.59% | 0.49% |
MHY Man Active High Yield ETF | 3.85% | 1.54% |
Correlation
The correlation between HYBX and MHY is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.25 |
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Return for Risk
HYBX vs. MHY — Risk / Return Rank
HYBX
MHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYBX vs. MHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW High Yield Bond ETF (HYBX) and Man Active High Yield ETF (MHY). 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.
| HYBX | MHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.16 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | — | — |
| Martin ratioReturn relative to average drawdown | 8.41 | — | — |
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Drawdowns
HYBX vs. MHY - Drawdown Comparison
The maximum HYBX drawdown since its inception was -3.93%, which is greater than MHY's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for HYBX and MHY.
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Drawdown Indicators
| HYBX | MHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.93% | -1.58% | -2.35% |
Max Drawdown (1Y)Largest decline over 1 year | -2.15% | — | — |
Current DrawdownCurrent decline from peak | -0.52% | 0.00% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -0.56% | -0.29% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | — | — |
Volatility
HYBX vs. MHY - Volatility Comparison
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Volatility by Period
| HYBX | MHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 4.94% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.63% | 2.99% | +3.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 2.99% | +4.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.59% | 2.99% | +4.60% |
HYBX vs. MHY - Expense Ratio Comparison
HYBX has a 0.50% expense ratio, which is lower than MHY's 0.69% expense ratio.
Dividends
HYBX vs. MHY - Dividend Comparison
HYBX's dividend yield for the trailing twelve months is around 7.70%, more than MHY's 3.56% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
HYBX TCW High Yield Bond ETF | 7.70% | 7.82% | 1.08% |
MHY Man Active High Yield ETF | 3.56% | 3.42% | 0.00% |
Frequently Asked Questions
HYBX and MHY have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYBX is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYBX is cheaper with a 0.50% expense ratio, compared with 0.69% for MHY.
HYBX has the higher dividend yield at 7.70%, compared with 3.56% for MHY.
They also come from different issuers: TCW and Man Group. Their fees differ too: 0.50% for HYBX and 0.69% for MHY.
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