HYDB vs. PGHY
Compare and contrast key facts about iShares High Yield Bond Factor ETF (HYDB) and Invesco Global Short Term High Yield Bond ETF (PGHY).
HYDB and PGHY 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. PGHY is a passively managed fund by Invesco that tracks the performance of the DB Global Short Maturity High Yield Bond Index. It was launched on Jun 20, 2013. Both HYDB and PGHY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYDB or PGHY.
Key characteristics
| HYDB | PGHY | |
|---|---|---|
| YTD Return | 9.47% | 9.13% |
| 1Y Return | 15.24% | 14.60% |
| 3Y Return (Ann) | 3.98% | 4.20% |
| 5Y Return (Ann) | 5.20% | 3.59% |
| Sharpe Ratio | 3.16 | 3.28 |
| Sortino Ratio | 5.03 | 5.11 |
| Omega Ratio | 1.63 | 1.66 |
| Calmar Ratio | 4.68 | 6.72 |
| Martin Ratio | 28.27 | 30.00 |
| Ulcer Index | 0.54% | 0.49% |
| Daily Std Dev | 4.83% | 4.47% |
| Max Drawdown | -21.58% | -20.50% |
| Current Drawdown | 0.00% | -0.33% |
Correlation
The correlation between HYDB and PGHY is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
HYDB vs. PGHY - Performance Comparison
The year-to-date returns for both stocks are quite close, with HYDB having a 9.47% return and PGHY slightly lower at 9.13%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HYDB vs. PGHY - Expense Ratio Comparison
Both HYDB and PGHY have an expense ratio of 0.35%.
Risk-Adjusted Performance
HYDB vs. PGHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Bond Factor ETF (HYDB) and Invesco Global Short Term High Yield Bond ETF (PGHY). 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.
Dividends
HYDB vs. PGHY - Dividend Comparison
HYDB's dividend yield for the trailing twelve months is around 6.96%, less than PGHY's 7.47% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 6.96% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.17% | 2.70% | 0.00% | 0.00% | 0.00% | 0.00% |
PGHY Invesco Global Short Term High Yield Bond ETF | 7.47% | 7.86% | 5.12% | 5.18% | 5.45% | 5.33% | 5.45% | 5.52% | 6.26% | 4.59% | 4.40% | 1.90% |
Drawdowns
HYDB vs. PGHY - Drawdown Comparison
The maximum HYDB drawdown since its inception was -21.58%, which is greater than PGHY's maximum drawdown of -20.50%. Use the drawdown chart below to compare losses from any high point for HYDB and PGHY. For additional features, visit the drawdowns tool.
Volatility
HYDB vs. PGHY - Volatility Comparison
iShares High Yield Bond Factor ETF (HYDB) has a higher volatility of 1.12% compared to Invesco Global Short Term High Yield Bond ETF (PGHY) at 0.90%. This indicates that HYDB's price experiences larger fluctuations and is considered to be riskier than PGHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.