HYG vs. ANGL
HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and ANGL (VanEck Vectors Fallen Angel High Yield Bond ETF) are both High Yield Bonds funds - HYG tracks the Markit iBoxx USD Liquid High Yield Index while ANGL tracks the BofA Merrill Lynch US Fallen Angel High Yield Index. Both are passively managed. Over the past 10 years, HYG returned 5.00%/yr vs 6.24%/yr for ANGL. A 0.72 correlation means they provide meaningful diversification when combined. HYG charges 0.49%/yr vs 0.35%/yr for ANGL.
Performance
HYG vs. ANGL - Performance Comparison
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Returns By Period
In the year-to-date period, HYG achieves a 1.56% return, which is significantly lower than ANGL's 1.97% return. Over the past 10 years, HYG has underperformed ANGL with an annualized return of 5.00%, while ANGL has yielded a comparatively higher 6.24% annualized return.
HYG
- 1D
- -0.09%
- 1M
- 0.46%
- YTD
- 1.56%
- 6M
- 1.74%
- 1Y
- 5.93%
- 3Y*
- 8.75%
- 5Y*
- 3.68%
- 10Y*
- 5.00%
ANGL
- 1D
- -0.07%
- 1M
- 0.94%
- YTD
- 1.97%
- 6M
- 2.26%
- 1Y
- 7.26%
- 3Y*
- 8.60%
- 5Y*
- 3.25%
- 10Y*
- 6.24%
HYG vs. ANGL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.56% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 1.97% | 9.04% | 6.06% | 12.52% | -14.26% | 6.84% | 13.20% | 18.06% | -5.84% | 9.71% |
Correlation
The correlation between HYG and ANGL is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2012 | 0.72 |
Over the past year, HYG and ANGL have become more correlated (0.92) than their long-term average of 0.72, meaning their price movements have been converging.
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Return for Risk
HYG vs. ANGL — Risk / Return Rank
HYG
ANGL
HYG vs. ANGL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL). 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.
| HYG | ANGL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.33 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 1.80 | +0.75 |
| Martin ratioReturn relative to average drawdown | 11.18 | 7.53 | +3.65 |
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Drawdowns
HYG vs. ANGL - Drawdown Comparison
The maximum HYG drawdown since its inception was -34.25%, which is greater than ANGL's maximum drawdown of -29.31%. Use the drawdown chart below to compare losses from any high point for HYG and ANGL.
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Drawdown Indicators
| HYG | ANGL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.25% | -29.31% | -4.94% |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | -4.05% | +1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -4.56% | -5.48% | +0.92% |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | -19.25% | +3.46% |
Max Drawdown (10Y)Largest decline over 10 years | -22.03% | -29.31% | +7.28% |
Current DrawdownCurrent decline from peak | -0.21% | -0.10% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -3.29% | +0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 0.97% | -0.44% |
Volatility
HYG vs. ANGL - Volatility Comparison
iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) have volatilities of 1.13% and 1.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYG | ANGL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.16% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 3.55% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | 4.36% | -0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.54% | 7.64% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.27% | 9.26% | -0.99% |
HYG vs. ANGL - Expense Ratio Comparison
HYG has a 0.49% expense ratio, which is higher than ANGL's 0.35% expense ratio.
Dividends
HYG vs. ANGL - Dividend Comparison
HYG's dividend yield for the trailing twelve months is around 5.91%, less than ANGL's 6.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 6.35% | 6.20% | 6.29% | 5.27% | 4.72% | 3.90% | 4.67% | 5.19% | 5.99% | 5.25% | 5.34% | 5.81% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.91% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
Frequently Asked Questions
With a correlation of 0.92, HYG and ANGL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ANGL has higher volatility (1.16%) compared to HYG (1.13%). In terms of maximum drawdown, HYG dropped -34.25% vs ANGL's -29.31%.
On 10-year performance, ANGL leads with 6.24% vs 5.00% for HYG. On fees, ANGL is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ANGL has performed better with a 6.24% return vs 5.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ANGL is cheaper with a 0.35% expense ratio, compared with 0.49% for HYG.
ANGL has the higher dividend yield at 6.35%, compared with 5.91% for HYG.
HYG tracks Markit iBoxx USD Liquid High Yield Index, while ANGL tracks BofA Merrill Lynch US Fallen Angel High Yield Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.49% for HYG and 0.35% for ANGL.
ANGL currently has the higher Sharpe Ratio (1.67 vs 1.54), 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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