HYG vs. PSH
Compare and contrast key facts about iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and PGIM Short Duration High Yield ETF (PSH).
HYG and PSH 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. PSH is an actively managed fund by PGIM. It was launched on Dec 14, 2023.
Performance
HYG vs. PSH - Performance Comparison
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HYG vs. PSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | -0.11% | 8.59% | 7.97% | 0.25% |
PSH PGIM Short Duration High Yield ETF | 0.76% | 7.34% | 7.96% | 0.38% |
Returns By Period
In the year-to-date period, HYG achieves a -0.11% return, which is significantly lower than PSH's 0.76% 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%
PSH
- 1D
- 0.35%
- 1M
- 0.20%
- YTD
- 0.76%
- 6M
- 1.82%
- 1Y
- 6.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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HYG vs. PSH - Expense Ratio Comparison
HYG has a 0.49% expense ratio, which is higher than PSH's 0.45% expense ratio.
Return for Risk
HYG vs. PSH — Risk / Return Rank
HYG
PSH
HYG vs. PSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and PGIM Short Duration High Yield ETF (PSH). 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 | PSH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.25 | 1.68 | -0.43 |
Sortino ratioReturn per unit of downside risk | 1.87 | 2.54 | -0.67 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.40 | -0.11 |
Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.34 | -0.52 |
Martin ratioReturn relative to average drawdown | 9.57 | 10.93 | -1.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYG | PSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.68 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 2.20 | -1.75 |
Correlation
The correlation between HYG and PSH is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
HYG vs. PSH - Dividend Comparison
HYG's dividend yield for the trailing twelve months is around 5.88%, less than PSH's 6.98% 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% |
PSH PGIM Short Duration High Yield ETF | 6.98% | 6.62% | 8.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
HYG vs. PSH - Drawdown Comparison
The maximum HYG drawdown since its inception was -34.25%, which is greater than PSH's maximum drawdown of -3.06%. Use the drawdown chart below to compare losses from any high point for HYG and PSH.
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Drawdown Indicators
| HYG | PSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.25% | -3.06% | -31.19% |
Max Drawdown (1Y)Largest decline over 1 year | -3.93% | -2.84% | -1.09% |
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 | -1.05% | 0.00% | -1.05% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -0.27% | -3.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.61% | +0.14% |
Volatility
HYG vs. PSH - Volatility Comparison
iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has a higher volatility of 2.30% compared to PGIM Short Duration High Yield ETF (PSH) at 1.59%. This indicates that HYG's price experiences larger fluctuations and is considered to be riskier than PSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYG | PSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 1.59% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 2.00% | +0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.57% | 3.94% | +1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.51% | 3.30% | +4.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.31% | 3.30% | +5.01% |