HYDB vs. HYBI

Last updated Apr 3, 2026

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

HYDB and HYBI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. HYBI is an actively managed fund by Neos. It was launched on Sep 27, 2024.

Performance

HYDB vs. HYBI - Performance Comparison

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

HYDB vs. HYBI - Yearly Performance Comparison

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

Returns By Period

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

HYDB

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

HYBI

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

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

HYDB vs. HYBI - Expense Ratio Comparison

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

HYBI

NEOS Enhanced Income Credit Select ETF

HYDB

iShares High Yield Bond Factor ETF

Return for Risk

HYDB vs. HYBI — Risk / Return Rank

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

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

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

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.

HYDB vs. HYBI - Risk-Adjusted Trends Comparison

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

	HYDB	HYBI	Difference
Sharpe ratio Return per unit of total volatility	1.08	1.31	-0.23
Sortino ratio Return per unit of downside risk	1.54	1.97	-0.43
Omega ratio Gain probability vs. loss probability	1.25	1.36	-0.11
Calmar ratio Return relative to maximum drawdown	1.33	2.43	-1.10
Martin ratio Return relative to average drawdown	6.40	11.72	-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.

HYDB vs. HYBI - Sharpe Ratio Comparison

The current HYDB Sharpe Ratio is 1.08, which is comparable to the HYBI Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of HYDB and HYBI, 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

	HYDB	HYBI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.08	1.31	-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	0.70	0.89	-0.20

Correlation

The correlation between HYDB and HYBI 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

HYDB vs. HYBI - Dividend Comparison

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

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Drawdowns

HYDB vs. HYBI - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

HYDB vs. HYBI - Volatility Comparison

iShares High Yield Bond Factor ETF (HYDB) has a higher volatility of 2.24% compared to NEOS Enhanced Income Credit Select ETF (HYBI) at 1.12%. This indicates that HYDB's price experiences larger fluctuations and is considered to be riskier than HYBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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