HYG vs. HYD
Compare and contrast key facts about iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and VanEck Vectors High-Yield Municipal Index ETF (HYD).
HYG and HYD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYG is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid High Yield Index. It was launched on Apr 11, 2007. HYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Barclays Municipal Custom High Yield Composite Index. It was launched on Feb 4, 2009. Both HYG and HYD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
HYG vs. HYD - Performance Comparison
Loading graphics...
HYG vs. HYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | -0.11% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
HYD VanEck Vectors High-Yield Municipal Index ETF | -0.34% | 2.83% | 4.94% | 6.52% | -15.97% | 5.05% | 0.17% | 9.34% | 2.19% | 9.78% |
Returns By Period
In the year-to-date period, HYG achieves a -0.11% return, which is significantly higher than HYD's -0.34% return. Over the past 10 years, HYG has outperformed HYD with an annualized return of 5.16%, while HYD has yielded a comparatively lower 2.06% annualized return.
HYG
- 1D
- 0.24%
- 1M
- -0.65%
- YTD
- -0.11%
- 6M
- 0.93%
- 1Y
- 6.91%
- 3Y*
- 7.99%
- 5Y*
- 3.66%
- 10Y*
- 5.16%
HYD
- 1D
- 0.90%
- 1M
- -1.26%
- YTD
- -0.34%
- 6M
- 1.38%
- 1Y
- 2.70%
- 3Y*
- 3.60%
- 5Y*
- -0.11%
- 10Y*
- 2.06%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
HYG vs. HYD - Expense Ratio Comparison
HYG has a 0.49% expense ratio, which is higher than HYD's 0.35% expense ratio.
Return for Risk
HYG vs. HYD — Risk / Return Rank
HYG
HYD
HYG vs. HYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and VanEck Vectors High-Yield Municipal Index ETF (HYD). 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 | HYD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.25 | 0.46 | +0.79 |
Sortino ratioReturn per unit of downside risk | 1.87 | 0.59 | +1.28 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.11 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 1.82 | 0.73 | +1.09 |
Martin ratioReturn relative to average drawdown | 9.57 | 1.76 | +7.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| HYG | HYD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 0.46 | +0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | -0.02 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.16 | +0.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.44 | +0.02 |
Correlation
The correlation between HYG and HYD is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
HYG vs. HYD - Dividend Comparison
HYG's dividend yield for the trailing twelve months is around 5.88%, more than HYD's 4.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.88% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.38% | 4.29% | 4.29% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 4.43% | 4.29% | 4.58% | 4.82% |
Drawdowns
HYG vs. HYD - Drawdown Comparison
The maximum HYG drawdown since its inception was -34.25%, roughly equal to the maximum HYD drawdown of -35.61%. Use the drawdown chart below to compare losses from any high point for HYG and HYD.
Loading graphics...
Drawdown Indicators
| HYG | HYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.25% | -35.61% | +1.36% |
Max Drawdown (1Y)Largest decline over 1 year | -3.93% | -4.42% | +0.49% |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | -20.72% | +4.93% |
Max Drawdown (10Y)Largest decline over 10 years | -22.03% | -35.61% | +13.58% |
Current DrawdownCurrent decline from peak | -1.05% | -4.40% | +3.35% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -4.34% | +1.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 1.83% | -1.08% |
Volatility
HYG vs. HYD - Volatility Comparison
iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and VanEck Vectors High-Yield Municipal Index ETF (HYD) have volatilities of 2.30% and 2.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| HYG | HYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 2.22% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 2.83% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.57% | 5.90% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.51% | 6.44% | +1.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.31% | 12.60% | -4.29% |