HYG vs. BSJQ

Last updated Jun 4, 2026

HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and BSJQ (Invesco BulletShares 2026 High Yield Corp Bond ETF) are both High Yield Bonds funds - HYG tracks the iBoxx $ Liquid High Yield Index while BSJQ tracks the NASDAQ BulletShares USD High Yield Corporate Bond 2026 TR Index. Both are passively managed. Over the past 5 years, HYG returned 3.77%/yr vs 3.74%/yr for BSJQ. Their correlation of 0.88 suggests significant overlap in exposure. HYG charges 0.49%/yr vs 0.42%/yr for BSJQ.

Performance

HYG vs. BSJQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYG achieves a 1.32% return, which is significantly higher than BSJQ's 0.85% return.

HYG

• 1D: -0.28%
• 1M: 0.36%
• YTD: 1.32%
• 6M: 1.73%
• 1Y: 6.51%
• 3Y*: 8.48%
• 5Y*: 3.77%
• 10Y*: 4.94%

BSJQ

• 1D: 0.00%
• 1M: -0.28%
• YTD: 0.85%
• 6M: 1.28%
• 1Y: 4.62%
• 3Y*: 6.94%
• 5Y*: 3.74%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HYG vs. BSJQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HYG iShares iBoxx $ High Yield Corporate Bond ETF	1.32%	8.59%	7.97%	11.54%	-10.98%	3.76%	4.47%	14.09%	-3.55%
BSJQ Invesco BulletShares 2026 High Yield Corp Bond ETF	0.85%	6.59%	7.49%	9.83%	-7.35%	4.53%	2.80%	16.74%	-4.08%

Correlation

The correlation between HYG and BSJQ is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Aug 10, 2018	0.88

The correlation between HYG and BSJQ shifts across timeframes, from 0.72 (1 year) to 0.92 (5 years), reflecting how their relationship changes across market environments.

HYG vs. BSJQ - Sectors Allocation Comparison

Sectors	HYG	BSJQ
Utilities	99.6%	-
Real Estate	0.4%	3.6%
Basic Materials	-	-
Communication Services	-	1.8%
Consumer Cyclical	-	7.0%
Consumer Defensive	-	-
Energy	-	1.6%
Financial Services	-	39.0%
Healthcare	-	-
Industrials	-	2.1%
Technology	-	5.0%

Return for Risk

HYG vs. BSJQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYG

HYG Risk / Return Rank: 55
HYG Sharpe Ratio Rank: 49
HYG Sortino Ratio Rank: 52
HYG Omega Ratio Rank: 52
HYG Calmar Ratio Rank: 55
HYG Martin Ratio Rank: 66

BSJQ

BSJQ Risk / Return Rank: 95
BSJQ Sharpe Ratio Rank: 92
BSJQ Sortino Ratio Rank: 95
BSJQ Omega Ratio Rank: 95
BSJQ Calmar Ratio Rank: 95
BSJQ Martin Ratio Rank: 97

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.

HYG vs. BSJQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ). 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.

	HYG	BSJQ	Difference
Sharpe ratio Return per unit of total volatility	1.72	3.35	-1.63
Sortino ratio Return per unit of downside risk	2.59	5.25	-2.66
Omega ratio Gain probability vs. loss probability	1.33	1.76	-0.43
Calmar ratio Return relative to maximum drawdown	2.79	8.57	-5.77
Martin ratio Return relative to average drawdown	12.34	41.55	-29.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYG vs. BSJQ - Sharpe Ratio Comparison

The current HYG Sharpe Ratio is 1.72, which is lower than the BSJQ Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of HYG and BSJQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HYG	BSJQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	3.35	-1.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.66	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.54	-0.08

Drawdowns

HYG vs. BSJQ - Drawdown Comparison

The maximum HYG drawdown since its inception was -34.25%, which is greater than BSJQ's maximum drawdown of -24.13%. Use the drawdown chart below to compare losses from any high point for HYG and BSJQ.

Drawdown Indicators

	HYG	BSJQ	Difference
Max Drawdown Largest peak-to-trough decline	-34.25%	-24.13%	-10.12%
Max Drawdown (1Y) Largest decline over 1 year	-2.34%	-0.54%	-1.80%
Max Drawdown (3Y) Largest decline over 3 years	-4.56%	-2.66%	-1.90%
Max Drawdown (5Y) Largest decline over 5 years	-15.79%	-11.95%	-3.84%
Max Drawdown (10Y) Largest decline over 10 years	-22.03%	—	—
Current Drawdown Current decline from peak	-0.28%	-0.43%	+0.15%
Average Drawdown Average peak-to-trough decline	-3.24%	-2.17%	-1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	0.11%	+0.42%

Volatility

HYG vs. BSJQ - Volatility Comparison

iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has a higher volatility of 1.21% compared to Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ) at 0.54%. This indicates that HYG's price experiences larger fluctuations and is considered to be riskier than BSJQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYG	BSJQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.21%	0.54%	+0.67%
Volatility (6M) Calculated over the trailing 6-month period	3.01%	0.98%	+2.03%
Volatility (1Y) Calculated over the trailing 1-year period	3.81%	1.38%	+2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.53%	5.73%	+1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.29%	8.45%	-0.16%

HYG vs. BSJQ - Expense Ratio Comparison

HYG has a 0.49% expense ratio, which is higher than BSJQ's 0.42% expense ratio.

Dividends

HYG vs. BSJQ - Dividend Comparison

HYG's dividend yield for the trailing twelve months is around 5.92%, more than BSJQ's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSJQ Invesco BulletShares 2026 High Yield Corp Bond ETF	5.83%	6.10%	6.58%	6.58%	5.58%	4.27%	4.64%	4.59%	2.39%	0.00%	0.00%	0.00%
HYG iShares iBoxx $ High Yield Corporate Bond ETF	5.92%	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

Can I hold both HYG and BSJQ in my portfolio?

HYG and BSJQ have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYG or BSJQ?

HYG has higher volatility (1.21%) compared to BSJQ (0.54%). In terms of maximum drawdown, HYG dropped -34.25% vs BSJQ's -24.13%.

Which ETF is better, HYG or BSJQ?

On 5-year performance, HYG leads with 3.77% vs 3.74% for BSJQ. On fees, BSJQ is cheaper at 0.42% per year. On volatility, BSJQ has been the lower-risk option at 0.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYG or BSJQ?

Over the 5-year period, HYG has performed better with a 3.77% return vs 3.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYG or BSJQ?

BSJQ is cheaper with a 0.42% expense ratio, compared with 0.49% for HYG.

Which ETF pays a higher dividend yield, HYG or BSJQ?

HYG has the higher dividend yield at 5.92%, compared with 5.83% for BSJQ.

What is the main difference between HYG and BSJQ?

HYG tracks iBoxx $ Liquid High Yield Index, while BSJQ tracks NASDAQ BulletShares USD High Yield Corporate Bond 2026 TR Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.49% for HYG and 0.42% for BSJQ.

Which has better risk-adjusted returns?

BSJQ currently has the higher Sharpe Ratio (3.35 vs 1.72), 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.