HYG vs. GC=F
HYG (iShares iBoxx $ High Yield Corporate Bond ETF) is High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index, while GC=F (Gold Futures) is an asset. At a correlation of -0.02, they often move in opposite directions.
Performance
HYG vs. GC=F - Performance Comparison
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Returns By Period
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%
GC=F
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYG vs. GC=F - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.78% | 8.59% | 7.97% | 11.54% | -8.53% |
GC=F Gold Futures | 0.00% | 0.00% | 0.00% | 0.00% | 5.84% |
Correlation
The correlation between HYG and GC=F is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022 | -0.02 |
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Return for Risk
HYG vs. GC=F — Risk / Return Rank
HYG
GC=F
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYG vs. GC=F - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and Gold Futures (GC=F). 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 | GC=F | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.35 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | — | — |
| Martin ratioReturn relative to average drawdown | 13.11 | — | — |
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Drawdowns
HYG vs. GC=F - Drawdown Comparison
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Drawdown Indicators
| HYG | GC=F | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.25% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.56% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.03% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | — | — |
Average DrawdownAverage peak-to-trough decline | -3.24% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | — | — |
Volatility
HYG vs. GC=F - Volatility Comparison
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Volatility by Period
| HYG | GC=F | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.53% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.29% | — | — |
Frequently Asked Questions
HYG and GC=F have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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