HYFI vs. HYGH
HYFI (AB High Yield ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both High Yield Bonds funds. HYFI is actively managed, while HYGH is passively managed. Over the past 3 years, HYFI returned 8.68%/yr vs 9.30%/yr for HYGH. A 0.61 correlation means they provide meaningful diversification when combined. HYFI charges 0.40%/yr vs 0.52%/yr for HYGH.
Performance
HYFI vs. HYGH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HYFI achieves a 2.13% return, which is significantly lower than HYGH's 3.61% return.
HYFI
- 1D
- -0.12%
- 1M
- 0.07%
- 6M
- 1.72%
- YTD
- 2.13%
- 1Y
- 6.39%
- 3Y*
- 8.68%
- 5Y*
- —
- 10Y*
- —
HYGH
- 1D
- 0.03%
- 1M
- 0.36%
- 6M
- 3.14%
- YTD
- 3.61%
- 1Y
- 7.17%
- 3Y*
- 9.30%
- 5Y*
- 6.95%
- 10Y*
- 6.18%
HYFI vs. HYGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HYFI AB High Yield ETF | 2.13% | 8.91% | 7.98% | 8.66% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 3.61% | 6.94% | 11.22% | 10.35% |
Correlation
The correlation between HYFI and HYGH is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since May 15, 2023 | 0.61 |
The correlation between HYFI and HYGH has been stable across timeframes, ranging from 0.56 to 0.61 - 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.
Return for Risk
HYFI vs. HYGH — Risk / Return Rank
HYFI
HYGH
HYFI vs. HYGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB High Yield ETF (HYFI) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH). 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.
| HYFI | HYGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 4.44 | -1.87 |
| Martin ratioReturn relative to average drawdown | 11.52 | 17.40 | -5.87 |
Loading charts...
Drawdowns
HYFI vs. HYGH - Drawdown Comparison
The maximum HYFI drawdown since its inception was -6.34%, smaller than the maximum HYGH drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for HYFI and HYGH.
Loading charts...
Drawdown Indicators
| HYFI | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.34% | -23.88% | +17.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -1.62% | -0.87% |
Max Drawdown (3Y)Largest decline over 3 years | -6.34% | -8.06% | +1.72% |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.88% | — |
Current DrawdownCurrent decline from peak | -0.32% | -0.01% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -0.50% | -2.21% | +1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.41% | +0.15% |
Volatility
HYFI vs. HYGH - Volatility Comparison
AB High Yield ETF (HYFI) has a higher volatility of 0.89% compared to iShares Interest Rate Hedged High Yield Bond ETF (HYGH) at 0.60%. This indicates that HYFI's price experiences larger fluctuations and is considered to be riskier than HYGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HYFI | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.60% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 2.74% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.95% | 3.63% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.30% | 7.07% | -1.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.30% | 8.22% | -2.92% |
HYFI vs. HYGH - Expense Ratio Comparison
HYFI has a 0.40% expense ratio, which is lower than HYGH's 0.52% expense ratio.
Dividends
HYFI vs. HYGH - Dividend Comparison
HYFI's dividend yield for the trailing twelve months is around 6.64%, more than HYGH's 6.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYFI AB High Yield ETF | 6.64% | 6.66% | 6.57% | 4.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.57% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
Frequently Asked Questions
HYFI and HYGH have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYFI has higher volatility (0.89%) compared to HYGH (0.60%). In terms of maximum drawdown, HYFI dropped -6.34% vs HYGH's -23.88%.
On 3-year performance, HYGH leads with 9.30% vs 8.68% for HYFI. On fees, HYFI is cheaper at 0.40% per year. On volatility, HYGH has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYGH has performed better with a 9.30% return vs 8.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYFI is cheaper with a 0.40% expense ratio, compared with 0.52% for HYGH.
HYFI has the higher dividend yield at 6.64%, compared with 6.57% for HYGH.
They also come from different issuers: AllianceBernstein and iShares. Their fees differ too: 0.40% for HYFI and 0.52% for HYGH.
HYGH currently has the higher Sharpe Ratio (1.99 vs 1.63), 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.
Find the right allocation for HYFI and HYGH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer