HYDB vs. NHYB
HYDB (iShares High Yield Bond Factor ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds - HYDB tracks the BlackRock High Yield Defensive Bond Index while NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index. Both are passively managed. Their correlation of 0.89 suggests significant overlap in exposure. HYDB charges 0.35%/yr vs 0.08%/yr for NHYB.
Performance
HYDB vs. NHYB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HYDB achieves a 1.47% return, which is significantly lower than NHYB's 1.91% return.
HYDB
- 1D
- -0.11%
- 1M
- 0.41%
- YTD
- 1.47%
- 6M
- 1.60%
- 1Y
- 6.31%
- 3Y*
- 9.35%
- 5Y*
- 4.57%
- 10Y*
- —
NHYB
- 1D
- -0.04%
- 1M
- 0.52%
- YTD
- 1.91%
- 6M
- 1.99%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYDB vs. NHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 1.47% | 1.11% |
NHYB Nuveen High Yield Corporate Bond ETF | 1.91% | 1.24% |
Correlation
The correlation between HYDB and NHYB is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025 | 0.89 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HYDB vs. NHYB — Risk / Return Rank
HYDB
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYDB vs. NHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Bond Factor ETF (HYDB) 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.
| HYDB | NHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.32 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | — | — |
| Martin ratioReturn relative to average drawdown | 9.85 | — | — |
Loading charts...
Drawdowns
HYDB vs. NHYB - Drawdown Comparison
The maximum HYDB drawdown since its inception was -21.58%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for HYDB and NHYB.
Loading charts...
Drawdown Indicators
| HYDB | NHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.58% | -2.40% | -19.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.58% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.28% | — | — |
Current DrawdownCurrent decline from peak | -0.31% | -0.20% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -0.36% | -2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | — | — |
Volatility
HYDB vs. NHYB - Volatility Comparison
Loading charts...
Volatility by Period
| HYDB | NHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 3.64% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.05% | 3.64% | +3.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.74% | 3.64% | +4.10% |
HYDB vs. NHYB - Expense Ratio Comparison
HYDB has a 0.35% expense ratio, which is higher than NHYB's 0.08% expense ratio.
Dividends
HYDB vs. NHYB - Dividend Comparison
HYDB's dividend yield for the trailing twelve months is around 6.99%, more than NHYB's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 6.99% | 7.04% | 6.95% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.16% | 2.70% |
NHYB Nuveen High Yield Corporate Bond ETF | 4.25% | 1.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYDB and NHYB have a correlation of 0.89, 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 0.35% for HYDB.
HYDB has the higher dividend yield at 6.99%, compared with 4.25% for NHYB.
HYDB tracks BlackRock High Yield Defensive Bond Index, while NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index. They also come from different issuers: iShares and Nuveen. Their fees differ too: 0.35% for HYDB and 0.08% for NHYB.
Find the right allocation for HYDB and NHYB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer