HYG vs. SHYG
Compare and contrast key facts about iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG).
HYG and SHYG 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. SHYG is a passively managed fund by iShares that tracks the performance of the Markit iBoxx USD Liquid High Yield 0-5 Index. It was launched on Oct 15, 2013. Both HYG and SHYG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYG or SHYG.
Key characteristics
| HYG | SHYG | |
|---|---|---|
| YTD Return | 7.96% | 7.72% |
| 1Y Return | 18.13% | 15.07% |
| 3Y Return (Ann) | 2.60% | 4.45% |
| 5Y Return (Ann) | 3.49% | 4.41% |
| 10Y Return (Ann) | 3.76% | 4.32% |
| Sharpe Ratio | 3.45 | 3.84 |
| Sortino Ratio | 5.61 | 6.40 |
| Omega Ratio | 1.71 | 1.82 |
| Calmar Ratio | 1.86 | 6.20 |
| Martin Ratio | 29.68 | 36.27 |
| Ulcer Index | 0.60% | 0.41% |
| Daily Std Dev | 5.13% | 3.86% |
| Max Drawdown | -34.24% | -19.26% |
| Current Drawdown | -0.21% | 0.00% |
Correlation
The correlation between HYG and SHYG is 0.89, 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.
Performance
HYG vs. SHYG - Performance Comparison
The year-to-date returns for both stocks are quite close, with HYG having a 7.96% return and SHYG slightly lower at 7.72%. Over the past 10 years, HYG has underperformed SHYG with an annualized return of 3.76%, while SHYG has yielded a comparatively higher 4.32% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HYG vs. SHYG - Expense Ratio Comparison
HYG has a 0.49% expense ratio, which is higher than SHYG's 0.30% expense ratio.
Risk-Adjusted Performance
HYG vs. SHYG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). 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.
Dividends
HYG vs. SHYG - Dividend Comparison
HYG's dividend yield for the trailing twelve months is around 5.85%, less than SHYG's 6.67% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.85% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% | 5.69% | 6.10% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 6.67% | 6.54% | 5.57% | 4.83% | 5.07% | 5.33% | 5.90% | 5.49% | 5.53% | 5.17% | 4.33% | 0.85% |
Drawdowns
HYG vs. SHYG - Drawdown Comparison
The maximum HYG drawdown since its inception was -34.24%, which is greater than SHYG's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for HYG and SHYG. For additional features, visit the drawdowns tool.
Volatility
HYG vs. SHYG - Volatility Comparison
iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has a higher volatility of 0.83% compared to iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) at 0.63%. This indicates that HYG's price experiences larger fluctuations and is considered to be riskier than SHYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.