HYG vs. AVUV
HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and AVUV (Avantis US Small Cap Value ETF) are both exchange-traded funds - HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index, while AVUV is a Small Cap Value Equities fund actively managed by Avantis. HYG is passively managed, while AVUV is actively managed. Over the past 5 years, HYG returned 3.83%/yr vs 11.59%/yr for AVUV. A 0.61 correlation means they provide meaningful diversification when combined. HYG charges 0.49%/yr vs 0.25%/yr for AVUV.
Performance
HYG vs. AVUV - Performance Comparison
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Returns By Period
In the year-to-date period, HYG achieves a 1.78% return, which is significantly lower than AVUV's 21.54% return.
HYG
- 1D
- 0.13%
- 1M
- 1.25%
- YTD
- 1.78%
- 6M
- 2.29%
- 1Y
- 6.95%
- 3Y*
- 8.47%
- 5Y*
- 3.83%
- 10Y*
- 5.03%
AVUV
- 1D
- -0.96%
- 1M
- 5.44%
- YTD
- 21.54%
- 6M
- 18.43%
- 1Y
- 40.75%
- 3Y*
- 19.22%
- 5Y*
- 11.59%
- 10Y*
- —
HYG vs. AVUV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.78% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 2.41% |
AVUV Avantis US Small Cap Value ETF | 21.54% | 7.44% | 9.28% | 22.82% | -4.91% | 42.20% | 6.43% | 8.54% |
Correlation
The correlation between HYG and AVUV is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | 0.61 |
The correlation between HYG and AVUV has been stable across timeframes, ranging from 0.61 to 0.62 - a consistent structural relationship.
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Return for Risk
HYG vs. AVUV — Risk / Return Rank
HYG
AVUV
HYG vs. AVUV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and Avantis US Small Cap Value ETF (AVUV). 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 | AVUV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.40 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 5.15 | -2.17 |
| Martin ratioReturn relative to average drawdown | 13.11 | 15.34 | -2.23 |
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Drawdowns
HYG vs. AVUV - Drawdown Comparison
The maximum HYG drawdown since its inception was -34.25%, smaller than the maximum AVUV drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for HYG and AVUV.
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Drawdown Indicators
| HYG | AVUV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.25% | -49.42% | +15.17% |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | -7.95% | +5.61% |
Max Drawdown (3Y)Largest decline over 3 years | -4.56% | -28.79% | +24.23% |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | -28.79% | +13.00% |
Max Drawdown (10Y)Largest decline over 10 years | -22.03% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.96% | +0.96% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -7.91% | +4.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 2.66% | -2.13% |
Volatility
HYG vs. AVUV - Volatility Comparison
The current volatility for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is 1.31%, while Avantis US Small Cap Value ETF (AVUV) has a volatility of 4.66%. This indicates that HYG experiences smaller price fluctuations and is considered to be less risky than AVUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYG | AVUV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 4.66% | -3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | 11.37% | -8.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 17.62% | -13.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.53% | 22.75% | -15.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.29% | 28.25% | -19.96% |
HYG vs. AVUV - Expense Ratio Comparison
HYG has a 0.49% expense ratio, which is higher than AVUV's 0.25% expense ratio.
Dividends
HYG vs. AVUV - Dividend Comparison
HYG's dividend yield for the trailing twelve months is around 5.89%, more than AVUV's 1.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVUV Avantis US Small Cap Value ETF | 1.62% | 1.58% | 1.61% | 1.65% | 1.74% | 1.28% | 1.21% | 0.38% | 0.00% | 0.00% | 0.00% | 0.00% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.89% | 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
HYG and AVUV have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVUV has higher volatility (4.66%) compared to HYG (1.31%). In terms of maximum drawdown, HYG dropped -34.25% vs AVUV's -49.42%.
On 5-year performance, AVUV leads with 11.59% vs 3.83% for HYG. On fees, AVUV is cheaper at 0.25% per year. On volatility, HYG has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AVUV has performed better with a 11.59% return vs 3.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVUV is cheaper with a 0.25% expense ratio, compared with 0.49% for HYG.
HYG has the higher dividend yield at 5.89%, compared with 1.62% for AVUV.
HYG is categorized as High Yield Bonds, while AVUV is Small Cap Value Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.49% for HYG and 0.25% for AVUV.
AVUV currently has the higher Sharpe Ratio (2.33 vs 1.81), 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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