HYG vs. HYGI
HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and HYGI (iShares Inflation Hedged High Yield Bond ETF) are both exchange-traded funds - HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index, while HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Both are passively managed. Their correlation of 0.84 suggests significant overlap in exposure. HYG charges 0.49%/yr vs 0.52%/yr for HYGI.
Performance
HYG vs. HYGI - Performance Comparison
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Returns By Period
HYG
- 1D
- -0.09%
- 1M
- 0.46%
- YTD
- 1.56%
- 6M
- 1.74%
- 1Y
- 5.93%
- 3Y*
- 8.75%
- 5Y*
- 3.68%
- 10Y*
- 5.00%
HYGI
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYG vs. HYGI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.56% | 8.59% | 7.97% | 11.54% | 1.98% |
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.00% | 6.20% | 9.16% | 11.71% | 0.65% |
Correlation
The correlation between HYG and HYGI is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022 | 0.84 |
Over the past year, the correlation between HYG and HYGI has dropped to 0.26 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.
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Return for Risk
HYG vs. HYGI — Risk / Return Rank
HYG
HYGI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYG vs. HYGI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and iShares Inflation Hedged High Yield Bond ETF (HYGI). 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 | HYGI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.29 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | — | — |
| Martin ratioReturn relative to average drawdown | 11.18 | — | — |
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Drawdowns
HYG vs. HYGI - Drawdown Comparison
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Drawdown Indicators
| HYG | HYGI | 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 | -0.21% | — | — |
Average DrawdownAverage peak-to-trough decline | -3.23% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | — | — |
Volatility
HYG vs. HYGI - Volatility Comparison
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Volatility by Period
| HYG | HYGI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.54% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.27% | — | — |
HYG vs. HYGI - Expense Ratio Comparison
HYG has a 0.49% expense ratio, which is lower than HYGI's 0.52% expense ratio.
Dividends
HYG vs. HYGI - Dividend Comparison
HYG's dividend yield for the trailing twelve months is around 5.91%, while HYGI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.91% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.97% | 3.41% | 6.08% | 6.22% | 3.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYG and HYGI have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYG is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYG is cheaper with a 0.49% expense ratio, compared with 0.52% for HYGI.
HYG has the higher dividend yield at 5.91%, compared with 0.97% for HYGI.
HYG is categorized as High Yield Bonds, while HYGI is Inflation-Protected Bonds. HYG tracks Markit iBoxx USD Liquid High Yield Index, while HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Their fees differ too: 0.49% for HYG and 0.52% for HYGI.
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