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HYDB vs. OHYFX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYDB vs. OHYFX

Last updated Jun 26, 2026

HYDB (iShares High Yield Bond Factor ETF) and OHYFX (JPMorgan High Yield Fund) are both High Yield Bonds funds. Over the past 5 years, HYDB returned 4.55%/yr vs 4.02%/yr for OHYFX. A 0.65 correlation means they provide meaningful diversification when combined. HYDB charges 0.35%/yr vs 0.65%/yr for OHYFX.

Performance

HYDB vs. OHYFX - Performance Comparison

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

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Returns By Period

The year-to-date returns for both stocks are quite close, with HYDB having a 1.56% return and OHYFX slightly lower at 1.53%.

HYDB

1D
0.02%
1M
0.22%
YTD
1.56%
6M
1.43%
1Y
6.13%
3Y*
9.32%
5Y*
4.55%
10Y*
—

OHYFX

1D
0.00%
1M
0.30%
YTD
1.53%
6M
1.78%
1Y
6.05%
3Y*
8.89%
5Y*
4.02%
10Y*
5.15%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYDB vs. OHYFX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HYDB
iShares High Yield Bond Factor ETF		1.56%8.10%9.11%14.02%-9.99%5.14%7.39%16.13%-3.18%3.38%
OHYFX
JPMorgan High Yield Fund		1.53%8.37%8.64%11.80%-10.32%6.76%2.85%13.47%-2.84%2.38%

Correlation

The correlation between HYDB and OHYFX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.69

Correlation (3Y)
Calculated over the trailing 3-year period

0.71

Correlation (5Y)
Calculated over the trailing 5-year period

0.71

Correlation (All Time)
Calculated using the full available price history since Jul 13, 2017

0.65

The correlation between HYDB and OHYFX has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares High Yield Bond Factor ETF

JPMorgan High Yield Fund

Often compared with HYDB:
HYDB vs. HYGHYDB vs. SPHYHYDB vs. VWEAXHYDB vs. HYBBHYDB vs. SHYGHYDB vs. IGEBHYDB vs. EMCB
Often compared with OHYFX:
OHYFX vs. JNBSXOHYFX vs. HLIEXOHYFX vs. JMSIXOHYFX vs. DVYOHYFX vs. SPYOHYFX vs. CWFIXOHYFX vs. JLGMX

Return for Risk

HYDB vs. OHYFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYDB
HYDB Risk / Return Rank: 5656
Overall Rank
HYDB Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
HYDB Sortino Ratio Rank: 5959
Sortino Ratio Rank
HYDB Omega Ratio Rank: 5757
Omega Ratio Rank
HYDB Calmar Ratio Rank: 5050
Calmar Ratio Rank
HYDB Martin Ratio Rank: 6161
Martin Ratio Rank
OHYFX
OHYFX Risk / Return Rank: 8686
Overall Rank
OHYFX Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
OHYFX Sortino Ratio Rank: 8787
Sortino Ratio Rank
OHYFX Omega Ratio Rank: 9090
Omega Ratio Rank
OHYFX Calmar Ratio Rank: 7474
Calmar Ratio Rank
OHYFX Martin Ratio Rank: 9292
Martin Ratio Rank
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. OHYFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Bond Factor ETF (HYDB) and JPMorgan High Yield Fund (OHYFX). 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.

HYDBOHYFXDifference
Sharpe ratioReturn per unit of total volatility
1.61
2.47

-0.86

Sortino ratioReturn per unit of downside risk
2.43
3.67

-1.24

Omega ratioGain probability vs. loss probability

1.31

1.57

-0.26

Calmar ratioReturn relative to maximum drawdown

2.18

2.90

-0.72

Martin ratioReturn relative to average drawdown

9.57

15.92

-6.35

HYDB vs. OHYFX - Sharpe Ratio Comparison

The current HYDB Sharpe Ratio is 1.61, which is lower than the OHYFX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of HYDB and OHYFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HYDB vs. OHYFX - Drawdown Comparison

The maximum HYDB drawdown since its inception was -21.58%, smaller than the maximum OHYFX drawdown of -29.34%. Use the drawdown chart below to compare losses from any high point for HYDB and OHYFX.

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Drawdown Indicators

HYDBOHYFXDifference

Max Drawdown

Largest peak-to-trough decline

-21.58%

-29.34%

+7.76%

Max Drawdown (1Y)

Largest decline over 1 year

-2.83%

-2.10%

-0.73%

Max Drawdown (3Y)

Largest decline over 3 years

-5.58%

-3.29%

-2.29%

Max Drawdown (5Y)

Largest decline over 5 years

-14.28%

-13.77%

-0.51%

Max Drawdown (10Y)

Largest decline over 10 years

—

-23.27%

—

Current Drawdown

Current decline from peak

-0.22%

-0.15%

-0.07%

Average Drawdown

Average peak-to-trough decline

-2.38%

-2.44%

+0.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.64%

0.38%

+0.26%

Volatility

HYDB vs. OHYFX - Volatility Comparison

iShares High Yield Bond Factor ETF (HYDB) has a higher volatility of 1.02% compared to JPMorgan High Yield Fund (OHYFX) at 0.67%. This indicates that HYDB's price experiences larger fluctuations and is considered to be riskier than OHYFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HYDBOHYFXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.02%

0.67%

+0.35%

Volatility (6M)

Calculated over the trailing 6-month period

3.02%

2.01%

+1.01%

Volatility (1Y)

Calculated over the trailing 1-year period

3.83%

2.48%

+1.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.05%

4.74%

+2.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.74%

5.54%

+2.20%

HYDB vs. OHYFX - Expense Ratio Comparison

HYDB has a 0.35% expense ratio, which is lower than OHYFX's 0.65% expense ratio.

Dividends

HYDB vs. OHYFX - Dividend Comparison

HYDB's dividend yield for the trailing twelve months is around 6.99%, more than OHYFX's 5.90% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%
OHYFX
JPMorgan High Yield Fund		5.90%6.46%7.18%6.46%6.02%4.74%4.63%5.75%6.19%5.67%5.51%6.23%

Frequently Asked Questions

HYDB and OHYFX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HYDB has higher volatility (1.02%) compared to OHYFX (0.67%). In terms of maximum drawdown, HYDB dropped -21.58% vs OHYFX's -29.34%.

OHYFX currently has the higher Sharpe Ratio (2.47 vs 1.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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