HYBX vs. NHYB

Last updated Jun 21, 2026

HYBX (TCW High Yield Bond ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds. HYBX is actively managed, while NHYB is passively managed. At a 0.25 correlation, their price movements are largely independent. HYBX charges 0.50%/yr vs 0.08%/yr for NHYB.

Performance

HYBX vs. NHYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW High Yield Bond ETF (HYBX) and Nuveen High Yield Corporate Bond ETF (NHYB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYBX achieves a 2.59% return, which is significantly higher than NHYB's 2.08% return.

HYBX

• 1D: -0.19%
• 1M: 0.84%
• YTD: 2.59%
• 6M: 2.05%
• 1Y: 5.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NHYB

• 1D: 0.31%
• 1M: 0.79%
• YTD: 2.08%
• 6M: 2.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYBX vs. NHYB - Yearly Performance Comparison

	2026 (YTD)	2025
HYBX TCW High Yield Bond ETF	2.59%	-0.32%
NHYB Nuveen High Yield Corporate Bond ETF	2.08%	1.24%

Correlation

The correlation between HYBX and NHYB 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 24, 2025	0.25

Return for Risk

HYBX vs. NHYB — Risk / Return Rank

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

HYBX

HYBX Risk / Return Rank: 36
HYBX Sharpe Ratio Rank: 24
HYBX Sortino Ratio Rank: 25
HYBX Omega Ratio Rank: 24
HYBX Calmar Ratio Rank: 54
HYBX Martin Ratio Rank: 51

NHYB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

HYBX vs. NHYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW High Yield Bond ETF (HYBX) 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.

	HYBX	NHYB	Difference
Sharpe ratio: Return per unit of total volatility	0.85	—	—
Sortino ratio: Return per unit of downside risk	1.35	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	2.61	—	—
Martin ratio: Return relative to average drawdown	8.41	—	—

Drawdowns

HYBX vs. NHYB - Drawdown Comparison

The maximum HYBX drawdown since its inception was -3.93%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for HYBX and NHYB.

Drawdown Indicators

	HYBX	NHYB	Difference
Max Drawdown Largest peak-to-trough decline	-3.93%	-2.40%	-1.53%
Max Drawdown (1Y) Largest decline over 1 year	-2.15%	—	—
Current Drawdown Current decline from peak	-0.52%	-0.03%	-0.49%
Average Drawdown Average peak-to-trough decline	-0.56%	-0.36%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	—	—

Volatility

Volatility by Period

	HYBX	NHYB	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%	3.66%	+2.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.59%	3.66%	+3.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.59%	3.66%	+3.93%

HYBX vs. NHYB - Expense Ratio Comparison

HYBX has a 0.50% expense ratio, which is higher than NHYB's 0.08% expense ratio.

Dividends

HYBX vs. NHYB - Dividend Comparison

HYBX's dividend yield for the trailing twelve months is around 7.70%, more than NHYB's 4.24% yield.

Position	TTM	2025	2024
HYBX TCW High Yield Bond ETF	7.70%	7.82%	1.08%
NHYB Nuveen High Yield Corporate Bond ETF	4.24%	1.28%	0.00%

Frequently Asked Questions

Can I hold both HYBX and NHYB in my portfolio?

HYBX and NHYB 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.

Which ETF is better, HYBX or NHYB?

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.

Which ETF is cheaper, HYBX or NHYB?

NHYB is cheaper with a 0.08% expense ratio, compared with 0.50% for HYBX.

Which ETF pays a higher dividend yield, HYBX or NHYB?

HYBX has the higher dividend yield at 7.70%, compared with 4.24% for NHYB.

What is the main difference between HYBX and NHYB?

They also come from different issuers: TCW and Nuveen. Their fees differ too: 0.50% for HYBX and 0.08% for NHYB.