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HYG vs. FSYD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYG vs. FSYD

Last updated Jun 4, 2026

HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and FSYD (Fidelity Sustainable High Yield ETF) are both High Yield Bonds funds. HYG is passively managed, while FSYD is actively managed. Over the past 3 years, HYG returned 8.48%/yr vs 9.54%/yr for FSYD. With a 0.96 correlation, they move nearly in lockstep. HYG charges 0.49%/yr vs 0.55%/yr for FSYD.

Performance

HYG vs. FSYD - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, HYG achieves a 1.32% return, which is significantly lower than FSYD's 3.35% 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%

FSYD

1D
-0.27%
1M
0.75%
YTD
3.35%
6M
3.97%
1Y
10.19%
3Y*
9.54%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYG vs. FSYD - Yearly Performance Comparison

2026 (YTD)2025202420232022
HYG
iShares iBoxx $ High Yield Corporate Bond ETF		1.32%8.59%7.97%11.54%-6.76%
FSYD
Fidelity Sustainable High Yield ETF		3.35%9.09%8.74%12.22%-6.59%

Correlation

The correlation between HYG and FSYD is 0.89, 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

0.89

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

0.93

Correlation (All Time)
Calculated using the full available price history since Feb 18, 2022

0.96

The correlation between HYG and FSYD has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.

HYG vs. FSYD - Sectors Allocation Comparison

Sectors
HYG
FSYD

Utilities

99.6%

-

Real Estate

0.4%

-

Basic Materials

-

-

Communication Services

-

0.0%

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

34.4%

Financial Services

-

-

Healthcare

-

94.6%

Industrials

-

-

Technology

-

5.4%

Utilities

HYG
99.6%
FSYD

-

Real Estate

HYG
0.4%
FSYD

-

Basic Materials

HYG

-

FSYD

-

Communication Services

HYG

-

FSYD
0.0%

Consumer Cyclical

HYG

-

FSYD

-

Consumer Defensive

HYG

-

FSYD

-

Energy

HYG

-

FSYD
34.4%

Financial Services

HYG

-

FSYD

-

Healthcare

HYG

-

FSYD
94.6%

Industrials

HYG

-

FSYD

-

Technology

HYG

-

FSYD
5.4%

Compare stocks, funds, or ETFs

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

iShares iBoxx $ High Yield Corporate Bond ETF

Fidelity Sustainable High Yield ETF

Often compared with HYG:
HYG vs. LQDHYG vs. JNKHYG vs. SPHYHYG vs. AGGHYG vs. USHYHYG vs. HYGHHYG vs. SHYG
Often compared with FSYD:
FSYD vs. FDHYFSYD vs. FLDRFSYD vs. SHYFSYD vs. HYBLFSYD vs. SRLNFSYD vs. FFRHXFSYD vs. BSJP

Return for Risk

HYG vs. FSYD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYG
HYG Risk / Return Rank: 5555
Overall Rank
HYG Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
HYG Sortino Ratio Rank: 5252
Sortino Ratio Rank
HYG Omega Ratio Rank: 5252
Omega Ratio Rank
HYG Calmar Ratio Rank: 5555
Calmar Ratio Rank
HYG Martin Ratio Rank: 6666
Martin Ratio Rank
FSYD
FSYD Risk / Return Rank: 7979
Overall Rank
FSYD Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
FSYD Sortino Ratio Rank: 8383
Sortino Ratio Rank
FSYD Omega Ratio Rank: 8282
Omega Ratio Rank
FSYD Calmar Ratio Rank: 7676
Calmar Ratio Rank
FSYD Martin Ratio Rank: 7878
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.

HYG vs. FSYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and Fidelity Sustainable High Yield ETF (FSYD). 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.

HYGFSYDDifference
Sharpe ratioReturn per unit of total volatility
1.72
2.49

-0.77

Sortino ratioReturn per unit of downside risk
2.59
3.79

-1.20

Omega ratioGain probability vs. loss probability

1.33

1.50

-0.17

Calmar ratioReturn relative to maximum drawdown

2.79

3.83

-1.03

Martin ratioReturn relative to average drawdown

12.34

15.34

-3.00

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. FSYD - Sharpe Ratio Comparison

The current HYG Sharpe Ratio is 1.72, which is lower than the FSYD Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of HYG and FSYD, 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

HYGFSYDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.72

2.49

-0.77

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

—

—

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

0.77

-0.31

Drawdowns

HYG vs. FSYD - Drawdown Comparison

The maximum HYG drawdown since its inception was -34.25%, which is greater than FSYD's maximum drawdown of -12.11%. Use the drawdown chart below to compare losses from any high point for HYG and FSYD.

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Drawdown Indicators

HYGFSYDDifference

Max Drawdown

Largest peak-to-trough decline

-34.25%

-12.11%

-22.14%

Max Drawdown (1Y)

Largest decline over 1 year

-2.34%

-2.67%

+0.33%

Max Drawdown (3Y)

Largest decline over 3 years

-4.56%

-5.49%

+0.93%

Max Drawdown (5Y)

Largest decline over 5 years

-15.79%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-22.03%

—

—

Current Drawdown

Current decline from peak

-0.28%

-0.27%

-0.01%

Average Drawdown

Average peak-to-trough decline

-3.24%

-2.40%

-0.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.53%

0.67%

-0.14%

Volatility

HYG vs. FSYD - Volatility Comparison

iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has a higher volatility of 1.21% compared to Fidelity Sustainable High Yield ETF (FSYD) at 1.12%. This indicates that HYG's price experiences larger fluctuations and is considered to be riskier than FSYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HYGFSYDDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.21%

1.12%

+0.09%

Volatility (6M)

Calculated over the trailing 6-month period

3.01%

3.13%

-0.12%

Volatility (1Y)

Calculated over the trailing 1-year period

3.81%

4.12%

-0.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.53%

7.85%

-0.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.29%

7.85%

+0.44%

HYG vs. FSYD - Expense Ratio Comparison

HYG has a 0.49% expense ratio, which is lower than FSYD's 0.55% expense ratio.

Dividends

HYG vs. FSYD - Dividend Comparison

HYG's dividend yield for the trailing twelve months is around 5.92%, less than FSYD's 6.32% yield.

PositionTTM20252024202320222021202020192018201720162015
FSYD
Fidelity Sustainable High Yield ETF		6.32%6.49%6.47%6.70%5.29%0.00%0.00%0.00%0.00%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

HYG and FSYD have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HYG has higher volatility (1.21%) compared to FSYD (1.12%). In terms of maximum drawdown, HYG dropped -34.25% vs FSYD's -12.11%.

On 3-year performance, FSYD leads with 9.54% vs 8.48% for HYG. On fees, HYG is cheaper at 0.49% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, FSYD has performed better with a 9.54% return vs 8.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HYG is cheaper with a 0.49% expense ratio, compared with 0.55% for FSYD.

FSYD has the higher dividend yield at 6.32%, compared with 5.92% for HYG.

They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.49% for HYG and 0.55% for FSYD.

FSYD currently has the higher Sharpe Ratio (2.49 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.

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