HYDB vs. WEX
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 4.55%/yr vs -7.60%/yr for WEX. At a 0.44 correlation, their price movements are largely independent.
Performance
HYDB vs. WEX - Performance Comparison
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Returns By Period
In the year-to-date period, HYDB achieves a 1.56% return, which is significantly higher than WEX's -10.67% return.
HYDB
- 1D
- 0.02%
- 1M
- 0.22%
- YTD
- 1.56%
- 6M
- 1.43%
- 1Y
- 6.13%
- 3Y*
- 9.32%
- 5Y*
- 4.55%
- 10Y*
- —
WEX
- 1D
- -1.04%
- 1M
- -10.09%
- YTD
- -10.67%
- 6M
- -12.85%
- 1Y
- -8.00%
- 3Y*
- -8.34%
- 5Y*
- -7.60%
- 10Y*
- 5.07%
HYDB vs. WEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 1.56% | 8.10% | 9.11% | 14.02% | -9.99% | 5.14% | 7.39% | 16.13% | -3.18% | 3.38% |
WEX WEX Inc. | -10.67% | -15.02% | -9.88% | 18.88% | 16.57% | -31.02% | -2.83% | 49.55% | -0.83% | 28.73% |
Correlation
The correlation between HYDB and WEX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2017 | 0.44 |
Over the past year, the correlation between HYDB and WEX has dropped to 0.23 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.
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Return for Risk
HYDB vs. WEX — Risk / Return Rank
HYDB
WEX
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.
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 | WEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.82 | ||
| Sortino ratioReturn per unit of downside risk | +2.46 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.00 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | -0.26 | +2.43 |
| Martin ratioReturn relative to average drawdown | 9.57 | -0.58 | +10.15 |
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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.
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Drawdown Indicators
| HYDB | WEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.58% | -78.96% | +57.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -31.40% | +28.57% |
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 DrawdownCurrent decline from peak | -0.22% | -45.06% | +44.84% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -17.55% | +15.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 13.84% | -13.20% |
Volatility
HYDB vs. WEX - Volatility Comparison
The current volatility for iShares High Yield Bond Factor ETF (HYDB) is 1.02%, while WEX Inc. (WEX) has a volatility of 11.12%. 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.
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Volatility by Period
| HYDB | WEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 11.12% | -10.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 33.01% | -29.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 38.06% | -34.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.05% | 36.81% | -29.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.74% | 40.09% | -32.35% |
Dividends
HYDB vs. WEX - Dividend Comparison
HYDB's dividend yield for the trailing twelve months is around 6.99%, 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 | 6.99% | 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
HYDB and WEX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEX has higher volatility (11.12%) compared to HYDB (1.02%). In terms of maximum drawdown, HYDB dropped -21.58% vs WEX's -78.96%.
HYDB currently has the higher Sharpe Ratio (1.61 vs -0.21), 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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