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HYFI vs. HYHG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYFI vs. HYHG

Last updated Jun 5, 2026

HYFI (AB High Yield ETF) and HYHG (ProShares High Yield-Interest Rate Hedged) are both High Yield Bonds funds. HYFI is actively managed, while HYHG is passively managed. Over the past 3 years, HYFI returned 9.21%/yr vs 9.78%/yr for HYHG. At a 0.41 correlation, their price movements are largely independent. HYFI charges 0.40%/yr vs 0.50%/yr for HYHG.

Performance

HYFI vs. HYHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB High Yield ETF (HYFI) and ProShares High Yield-Interest Rate Hedged (HYHG). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, HYFI achieves a 1.98% return, which is significantly lower than HYHG's 3.03% return.

HYFI

1D
0.03%
1M
0.44%
YTD
1.98%
6M
2.35%
1Y
7.65%
3Y*
9.21%
5Y*
—
10Y*
—

HYHG

1D
0.12%
1M
0.64%
YTD
3.03%
6M
3.57%
1Y
7.52%
3Y*
9.78%
5Y*
6.99%
10Y*
6.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYFI vs. HYHG - Yearly Performance Comparison

2026 (YTD)202520242023
HYFI
AB High Yield ETF		1.98%8.91%7.98%8.66%
HYHG
ProShares High Yield-Interest Rate Hedged		3.03%5.31%11.41%11.82%

Correlation

The correlation between HYFI and HYHG is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.33

Correlation (3Y)
Calculated over the trailing 3-year period

0.40

Correlation (All Time)
Calculated using the full available price history since May 16, 2023

0.41

HYFI vs. HYHG - Sectors Allocation Comparison

Sectors
HYFI
HYHG

Communication Services

80.8%
1.1%

Consumer Cyclical

19.0%

-

Energy

0.2%

-

Basic Materials

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

0.6%

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Communication Services

HYFI
80.8%
HYHG
1.1%

Consumer Cyclical

HYFI
19.0%
HYHG

-

Energy

HYFI
0.2%
HYHG

-

Basic Materials

HYFI

-

HYHG

-

Consumer Defensive

HYFI

-

HYHG

-

Financial Services

HYFI

-

HYHG

-

Healthcare

HYFI

-

HYHG
0.6%

Industrials

HYFI

-

HYHG

-

Real Estate

HYFI

-

HYHG

-

Technology

HYFI

-

HYHG

-

Utilities

HYFI

-

HYHG

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

AB High Yield ETF

ProShares High Yield-Interest Rate Hedged

Often compared with HYFI:
HYFI vs. SPHYHYFI vs. FBNDHYFI vs. FLRNHYFI vs. SJNKHYFI vs. IEFHYFI vs. BSJPHYFI vs. VOO
Often compared with HYHG:
HYHG vs. HYGHHYHG vs. HYGHYHG vs. IGHGHYHG vs. SCHDHYHG vs. EIFAXHYHG vs. AOHYHYHG vs. PDI

Return for Risk

HYFI vs. HYHG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYFI
HYFI Risk / Return Rank: 6565
Overall Rank
HYFI Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
HYFI Sortino Ratio Rank: 6666
Sortino Ratio Rank
HYFI Omega Ratio Rank: 6262
Omega Ratio Rank
HYFI Calmar Ratio Rank: 6363
Calmar Ratio Rank
HYFI Martin Ratio Rank: 7474
Martin Ratio Rank
HYHG
HYHG Risk / Return Rank: 5252
Overall Rank
HYHG Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
HYHG Sortino Ratio Rank: 3939
Sortino Ratio Rank
HYHG Omega Ratio Rank: 3838
Omega Ratio Rank
HYHG Calmar Ratio Rank: 7575
Calmar Ratio Rank
HYHG Martin Ratio Rank: 6868
Martin Ratio Rank
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.

HYFI vs. HYHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB High Yield ETF (HYFI) and ProShares High Yield-Interest Rate Hedged (HYHG). 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.

HYFIHYHGDifference
Sharpe ratioReturn per unit of total volatility
1.95
1.36

+0.59

Sortino ratioReturn per unit of downside risk
3.02
1.98

+1.05

Omega ratioGain probability vs. loss probability

1.37

1.24

+0.13

Calmar ratioReturn relative to maximum drawdown

3.08

3.74

-0.66

Martin ratioReturn relative to average drawdown

13.91

12.28

+1.62

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYFI vs. HYHG - Sharpe Ratio Comparison

The current HYFI Sharpe Ratio is 1.95, which is higher than the HYHG Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of HYFI and HYHG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

HYFIHYHGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.95

1.36

+0.59

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.86

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.67

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.70

0.46

+1.24

Drawdowns

HYFI vs. HYHG - Drawdown Comparison

The maximum HYFI drawdown since its inception was -6.34%, smaller than the maximum HYHG drawdown of -25.71%. Use the drawdown chart below to compare losses from any high point for HYFI and HYHG.

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Drawdown Indicators

HYFIHYHGDifference

Max Drawdown

Largest peak-to-trough decline

-6.34%

-25.71%

+19.37%

Max Drawdown (1Y)

Largest decline over 1 year

-2.49%

-2.02%

-0.47%

Max Drawdown (3Y)

Largest decline over 3 years

-6.34%

-7.47%

+1.13%

Max Drawdown (5Y)

Largest decline over 5 years

—

-9.21%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-25.71%

—

Current Drawdown

Current decline from peak

-0.21%

-0.32%

+0.11%

Average Drawdown

Average peak-to-trough decline

-0.51%

-3.04%

+2.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.55%

0.61%

-0.06%

Volatility

HYFI vs. HYHG - Volatility Comparison

The current volatility for AB High Yield ETF (HYFI) is 1.08%, while ProShares High Yield-Interest Rate Hedged (HYHG) has a volatility of 1.42%. This indicates that HYFI experiences smaller price fluctuations and is considered to be less risky than HYHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HYFIHYHGDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.08%

1.42%

-0.34%

Volatility (6M)

Calculated over the trailing 6-month period

3.10%

4.30%

-1.20%

Volatility (1Y)

Calculated over the trailing 1-year period

3.94%

5.56%

-1.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.36%

8.16%

-2.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.36%

9.15%

-3.79%

HYFI vs. HYHG - Expense Ratio Comparison

HYFI has a 0.40% expense ratio, which is lower than HYHG's 0.50% expense ratio.

Dividends

HYFI vs. HYHG - Dividend Comparison

HYFI's dividend yield for the trailing twelve months is around 6.64%, less than HYHG's 6.78% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
HYHG
ProShares High Yield-Interest Rate Hedged		6.78%6.97%6.57%6.07%5.58%4.54%5.21%6.06%6.45%5.57%5.37%6.37%

Frequently Asked Questions

HYFI and HYHG have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HYHG has higher volatility (1.42%) compared to HYFI (1.08%). In terms of maximum drawdown, HYFI dropped -6.34% vs HYHG's -25.71%.

On 3-year performance, HYHG leads with 9.78% vs 9.21% for HYFI. On fees, HYFI is cheaper at 0.40% per year. On volatility, HYFI has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, HYHG has performed better with a 9.78% return vs 9.21%. 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 0.50% for HYHG.

HYHG has the higher dividend yield at 6.78%, compared with 6.64% for HYFI.

They also come from different issuers: AllianceBernstein and ProShares. Their fees differ too: 0.40% for HYFI and 0.50% for HYHG.

HYFI currently has the higher Sharpe Ratio (1.95 vs 1.36), 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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