HYDB vs. WEX

Last updated Jun 4, 2026

HYDB (iShares High Yield Bond Factor ETF) is High Yield Bonds fund tracking the BlackRock High Yield Defensive Bond Index, while WEX (WEX Inc.) is a stock. Over the past 5 years, HYDB returned 4.67%/yr vs -6.49%/yr for WEX. At a 0.44 correlation, their price movements are largely independent.

Performance

HYDB vs. WEX - Performance Comparison

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

Returns By Period

In the year-to-date period, HYDB achieves a 1.32% return, which is significantly higher than WEX's -2.09% return.

HYDB

• 1D: -0.21%
• 1M: 0.39%
• YTD: 1.32%
• 6M: 1.87%
• 1Y: 7.20%
• 3Y*: 9.11%
• 5Y*: 4.67%
• 10Y*: —

WEX

• 1D: -1.67%
• 1M: -5.39%
• YTD: -2.09%
• 6M: -2.34%
• 1Y: 6.77%
• 3Y*: -6.13%
• 5Y*: -6.49%
• 10Y*: 4.54%

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

HYDB vs. WEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYDB iShares High Yield Bond Factor ETF	1.32%	8.10%	9.11%	14.02%	-9.99%	5.14%	7.39%	16.13%	-3.18%	3.38%
WEX WEX Inc.	-2.09%	-15.02%	-9.88%	18.88%	16.57%	-31.02%	-2.83%	49.55%	-0.83%	27.82%

Correlation

The correlation between HYDB and WEX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jul 14, 2017	0.44

The correlation between HYDB and WEX shifts across timeframes, from 0.26 (1 year) to 0.45 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HYDB vs. WEX — Risk / Return Rank

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

HYDB

HYDB Risk / Return Rank: 57
HYDB Sharpe Ratio Rank: 55
HYDB Sortino Ratio Rank: 60
HYDB Omega Ratio Rank: 59
HYDB Calmar Ratio Rank: 51
HYDB Martin Ratio Rank: 62

WEX

WEX Risk / Return Rank: 45
WEX Sharpe Ratio Rank: 47
WEX Sortino Ratio Rank: 42
WEX Omega Ratio Rank: 42
WEX Calmar Ratio Rank: 46
WEX Martin Ratio Rank: 47

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. WEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Bond Factor ETF (HYDB) and WEX Inc. (WEX). 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	WEX	Difference
Sharpe ratio Return per unit of total volatility	1.91	0.18	+1.73
Sortino ratio Return per unit of downside risk	2.88	0.50	+2.38
Omega ratio Gain probability vs. loss probability	1.37	1.07	+0.30
Calmar ratio Return relative to maximum drawdown	2.55	0.25	+2.31
Martin ratio Return relative to average drawdown	11.30	0.55	+10.74
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. WEX - Sharpe Ratio Comparison

The current HYDB Sharpe Ratio is 1.91, which is higher than the WEX Sharpe Ratio of 0.18. The chart below compares the historical Sharpe Ratios of HYDB and WEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HYDB	WEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	0.18	+1.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	-0.18	+0.84
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.27	+0.44

Drawdowns

HYDB vs. WEX - Drawdown Comparison

The maximum HYDB drawdown since its inception was -21.58%, smaller than the maximum WEX drawdown of -78.96%. Use the drawdown chart below to compare losses from any high point for HYDB and WEX.

Drawdown Indicators

	HYDB	WEX	Difference
Max Drawdown Largest peak-to-trough decline	-21.58%	-78.96%	+57.38%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	-27.53%	+24.70%
Max Drawdown (3Y) Largest decline over 3 years	-5.58%	-53.15%	+47.57%
Max Drawdown (5Y) Largest decline over 5 years	-14.28%	-53.15%	+38.87%
Max Drawdown (10Y) Largest decline over 10 years	—	-64.60%	—
Current Drawdown Current decline from peak	-0.21%	-39.78%	+39.57%
Average Drawdown Average peak-to-trough decline	-2.39%	-17.48%	+15.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.64%	12.23%	-11.59%

Volatility

HYDB vs. WEX - Volatility Comparison

The current volatility for iShares High Yield Bond Factor ETF (HYDB) is 1.13%, while WEX Inc. (WEX) has a volatility of 11.18%. This indicates that HYDB experiences smaller price fluctuations and is considered to be less risky than WEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYDB	WEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	11.18%	-10.05%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	32.02%	-29.09%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	37.59%	-33.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.04%	36.61%	-29.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.76%	40.08%	-32.32%

Dividends

HYDB vs. WEX - Dividend Comparison

HYDB's dividend yield for the trailing twelve months is around 7.00%, while WEX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYDB iShares High Yield Bond Factor ETF	7.00%	7.04%	6.95%	7.00%	6.30%	4.70%	5.81%	5.68%	6.16%	2.70%
WEX WEX Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYDB and WEX in my portfolio?

HYDB and WEX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYDB or WEX?

WEX has higher volatility (11.18%) compared to HYDB (1.13%). In terms of maximum drawdown, HYDB dropped -21.58% vs WEX's -78.96%.

Which has better risk-adjusted returns?

HYDB currently has the higher Sharpe Ratio (1.91 vs 0.18), 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.