HYG vs. BTC-USD
HYG (iShares iBoxx $ High Yield Corporate Bond ETF) is High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, HYG returned 5.03%/yr vs 56.48%/yr for BTC-USD. At a 0.12 correlation, their price movements are largely independent.
Performance
HYG vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, HYG achieves a 1.78% return, which is significantly higher than BTC-USD's -24.33% return. Over the past 10 years, HYG has underperformed BTC-USD with an annualized return of 5.03%, while BTC-USD has yielded a comparatively higher 56.48% annualized 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%
BTC-USD
- 1D
- 0.77%
- 1M
- -15.23%
- YTD
- -24.33%
- 6M
- -23.38%
- 1Y
- -37.30%
- 3Y*
- 35.99%
- 5Y*
- 11.54%
- 10Y*
- 56.48%
HYG vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.78% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
BTC-USD Bitcoin | -24.33% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between HYG and BTC-USD is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2012 | 0.12 |
The correlation between HYG and BTC-USD shifts across timeframes, from 0.12 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HYG vs. BTC-USD — Risk / Return Rank
HYG
BTC-USD
HYG vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and Bitcoin (BTC-USD). 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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.68 | ||
| Sortino ratioReturn per unit of downside risk | +3.90 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.88 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | -0.73 | +3.71 |
| Martin ratioReturn relative to average drawdown | 13.11 | -1.26 | +14.37 |
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Drawdowns
HYG vs. BTC-USD - Drawdown Comparison
The maximum HYG drawdown since its inception was -34.25%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for HYG and BTC-USD.
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Drawdown Indicators
| HYG | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.25% | -85.30% | +51.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | -51.21% | +48.87% |
Max Drawdown (3Y)Largest decline over 3 years | -4.56% | -51.21% | +46.65% |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | -76.67% | +60.88% |
Max Drawdown (10Y)Largest decline over 10 years | -22.03% | -83.80% | +61.77% |
Current DrawdownCurrent decline from peak | 0.00% | -46.91% | +46.91% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -42.38% | +39.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 34.75% | -34.22% |
Volatility
HYG vs. BTC-USD - Volatility Comparison
The current volatility for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is 1.31%, while Bitcoin (BTC-USD) has a volatility of 12.14%. This indicates that HYG experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYG | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 12.14% | -10.83% |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | 34.59% | -31.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 35.62% | -31.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.53% | 44.55% | -37.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.29% | 56.55% | -48.26% |
Frequently Asked Questions
HYG and BTC-USD have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (12.14%) compared to HYG (1.31%). In terms of maximum drawdown, HYG dropped -34.25% vs BTC-USD's -85.30%.
HYG currently has the higher Sharpe Ratio (1.81 vs -0.87), 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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