HYDB vs. VWEAX
HYDB (iShares High Yield Systematic Bond ETF) and VWEAX (Vanguard High-Yield Corporate Fund Admiral Shares) are both High Yield Bonds funds. HYDB is passively managed, while VWEAX is actively managed. Over the past 5 years, HYDB returned 4.44%/yr vs 3.82%/yr for VWEAX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. HYDB charges 0.35%/yr vs 0.12%/yr for VWEAX.
Performance
HYDB vs. VWEAX - Performance Comparison
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Returns By Period
In the year-to-date period, HYDB achieves a 1.34% return, which is significantly higher than VWEAX's 0.81% return.
HYDB
- 1D
- 0.00%
- 1M
- -0.41%
- 6M
- 0.57%
- YTD
- 1.34%
- 1Y
- 4.88%
- 3Y*
- 8.47%
- 5Y*
- 4.44%
- 10Y*
- —
- ALL TIME*
- 5.40%
VWEAX
- 1D
- 0.18%
- 1M
- -0.73%
- 6M
- 0.65%
- YTD
- 0.81%
- 1Y
- 4.62%
- 3Y*
- 7.57%
- 5Y*
- 3.82%
- 10Y*
- 4.94%
- ALL TIME*
- 5.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.23M | $7.91M | $8.88M | |
| $0.00 | $0.00 | $0.00 |
HYDB vs. VWEAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Systematic Bond ETF | 1.34% | 8.10% | 9.11% | 14.02% | -9.99% | 5.14% | 7.39% | 16.13% | -3.18% | 3.38% |
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares | 0.81% | 9.49% | 6.42% | 11.79% | -8.95% | 3.04% | 5.41% | 15.92% | -2.80% | 2.33% |
Correlation
The correlation between HYDB and VWEAX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2017 | 0.60 |
The correlation between HYDB and VWEAX has been stable across timeframes, ranging from 0.60 to 0.67 - a consistent structural relationship.
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Return for Risk
HYDB vs. VWEAX — Risk / Return Rank
HYDB
VWEAX
HYDB vs. VWEAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Systematic Bond ETF (HYDB) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX). 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 | VWEAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.37 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 2.06 | -0.33 |
| Martin ratioReturn relative to average drawdown | 7.48 | 9.91 | -2.43 |
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Drawdowns
HYDB vs. VWEAX - Drawdown Comparison
The maximum HYDB drawdown since its inception was -21.58%, smaller than the maximum VWEAX drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for HYDB and VWEAX.
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Drawdown Indicators
| HYDB | VWEAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.58% | -30.05% | +8.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -2.52% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -5.58% | -3.32% | -2.26% |
Max Drawdown (5Y)Largest decline over 5 years | -14.28% | -13.77% | -0.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.68% | — |
Current DrawdownCurrent decline from peak | -0.51% | -0.91% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -2.35% | -2.11% | -0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.52% | +0.13% |
Volatility
HYDB vs. VWEAX - Volatility Comparison
iShares High Yield Systematic Bond ETF (HYDB) has a higher volatility of 0.76% compared to Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) at 0.68%. This indicates that HYDB's price experiences larger fluctuations and is considered to be riskier than VWEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYDB | VWEAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 0.68% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 2.69% | +0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.81% | 3.32% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.05% | 4.93% | +2.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.70% | 5.25% | +2.45% |
HYDB vs. VWEAX - Expense Ratio Comparison
HYDB has a 0.35% expense ratio, which is higher than VWEAX's 0.12% expense ratio.
Dividends
HYDB vs. VWEAX - Dividend Comparison
HYDB's dividend yield for the trailing twelve months is around 7.00%, more than VWEAX's 5.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Systematic Bond ETF | 6.40% | 7.04% | 6.95% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.16% | 2.70% | 0.00% | 0.00% |
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares | 5.87% | 6.25% | 6.20% | 5.79% | 5.21% | 3.49% | 4.71% | 5.33% | 6.07% | 5.39% | 5.51% | 6.53% |
Frequently Asked Questions
HYDB and VWEAX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYDB has higher volatility (0.76%) compared to VWEAX (0.68%). In terms of maximum drawdown, HYDB dropped -21.58% vs VWEAX's -30.05%.
VWEAX currently has the higher Sharpe Ratio (1.57 vs 1.28), 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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