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HYG vs. VTV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYG vs. VTV

Last updated Jun 12, 2026

HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and VTV (Vanguard Value ETF) are both exchange-traded funds - HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index, while VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index. Both are passively managed. Over the past 10 years, HYG returned 5.00%/yr vs 12.64%/yr for VTV. A 0.61 correlation means they provide meaningful diversification when combined. HYG charges 0.49%/yr vs 0.04%/yr for VTV.

Performance

HYG vs. VTV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and Vanguard Value ETF (VTV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HYG achieves a 1.65% return, which is significantly lower than VTV's 13.24% return. Over the past 10 years, HYG has underperformed VTV with an annualized return of 5.00%, while VTV has yielded a comparatively higher 12.64% annualized return.

HYG

1D
0.59%
1M
0.60%
YTD
1.65%
6M
2.02%
1Y
6.61%
3Y*
8.56%
5Y*
3.75%
10Y*
5.00%

VTV

1D
1.67%
1M
3.15%
YTD
13.24%
6M
12.56%
1Y
26.46%
3Y*
18.07%
5Y*
11.56%
10Y*
12.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYG vs. VTV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HYG
iShares iBoxx $ High Yield Corporate Bond ETF		1.65%8.59%7.97%11.54%-10.98%3.76%4.47%14.09%-2.02%6.07%
VTV
Vanguard Value ETF		13.24%15.27%15.95%9.32%-2.09%26.53%2.33%25.66%-5.47%17.15%

Correlation

The correlation between HYG and VTV is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.64

Correlation (3Y)
Calculated over the trailing 3-year period

0.61

Correlation (5Y)
Calculated over the trailing 5-year period

0.64

Correlation (10Y)
Calculated over the trailing 10-year period

0.65

Correlation (All Time)
Calculated using the full available price history since Apr 11, 2007

0.61

The correlation between HYG and VTV has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.

HYG vs. VTV - Sectors Allocation Comparison

Sectors
HYG
VTV

Utilities

99.6%
5.2%

Real Estate

0.4%
2.8%

Basic Materials

-

3.1%

Communication Services

-

3.3%

Consumer Cyclical

-

4.0%

Consumer Defensive

-

9.4%

Energy

-

8.1%

Financial Services

-

22.3%

Healthcare

-

14.5%

Industrials

-

14.0%

Technology

-

13.4%

Utilities

HYG
99.6%
VTV
5.2%

Real Estate

HYG
0.4%
VTV
2.8%

Basic Materials

HYG

-

VTV
3.1%

Communication Services

HYG

-

VTV
3.3%

Consumer Cyclical

HYG

-

VTV
4.0%

Consumer Defensive

HYG

-

VTV
9.4%

Energy

HYG

-

VTV
8.1%

Financial Services

HYG

-

VTV
22.3%

Healthcare

HYG

-

VTV
14.5%

Industrials

HYG

-

VTV
14.0%

Technology

HYG

-

VTV
13.4%

Compare stocks, funds, or ETFs

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iShares iBoxx $ High Yield Corporate Bond ETF

Vanguard Value ETF

Often compared with HYG:
HYG vs. LQDHYG vs. JNKHYG vs. SPHYHYG vs. AGGHYG vs. USHYHYG vs. HYGHHYG vs. SHYG
Often compared with VTV:
VTV vs. SCHDVTV vs. VOOVTV vs. VTIVTV vs. VUGVTV vs. VYMVTV vs. SCHVVTV vs. VIG

Return for Risk

HYG vs. VTV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYG
HYG Risk / Return Rank: 6969
Overall Rank
HYG Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
HYG Sortino Ratio Rank: 6969
Sortino Ratio Rank
HYG Omega Ratio Rank: 6666
Omega Ratio Rank
HYG Calmar Ratio Rank: 6969
Calmar Ratio Rank
HYG Martin Ratio Rank: 7979
Martin Ratio Rank
VTV
VTV Risk / Return Rank: 8989
Overall Rank
VTV Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
VTV Sortino Ratio Rank: 9191
Sortino Ratio Rank
VTV Omega Ratio Rank: 8888
Omega Ratio Rank
VTV Calmar Ratio Rank: 8787
Calmar Ratio Rank
VTV Martin Ratio Rank: 8888
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HYG vs. VTV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and Vanguard Value ETF (VTV). 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.

HYGVTVDifference
Sharpe ratioReturn per unit of total volatility
1.71
2.57

-0.86

Sortino ratioReturn per unit of downside risk
2.58
3.66

-1.08

Omega ratioGain probability vs. loss probability

1.33

1.46

-0.13

Calmar ratioReturn relative to maximum drawdown

2.84

4.18

-1.34

Martin ratioReturn relative to average drawdown

12.46

15.75

-3.29

HYG vs. VTV - Sharpe Ratio Comparison

The current HYG Sharpe Ratio is 1.71, which is lower than the VTV Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of HYG and VTV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HYG vs. VTV - Drawdown Comparison

The maximum HYG drawdown since its inception was -34.25%, smaller than the maximum VTV drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for HYG and VTV.

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Drawdown Indicators

HYGVTVDifference

Max Drawdown

Largest peak-to-trough decline

-34.25%

-59.27%

+25.02%

Max Drawdown (1Y)

Largest decline over 1 year

-2.34%

-6.35%

+4.01%

Max Drawdown (3Y)

Largest decline over 3 years

-4.56%

-14.52%

+9.96%

Max Drawdown (5Y)

Largest decline over 5 years

-15.79%

-17.04%

+1.25%

Max Drawdown (10Y)

Largest decline over 10 years

-22.03%

-36.78%

+14.75%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.24%

-7.86%

+4.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.53%

1.68%

-1.15%

Volatility

HYG vs. VTV - Volatility Comparison

The current volatility for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is 1.31%, while Vanguard Value ETF (VTV) has a volatility of 3.25%. This indicates that HYG experiences smaller price fluctuations and is considered to be less risky than VTV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HYGVTVDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.31%

3.25%

-1.94%

Volatility (6M)

Calculated over the trailing 6-month period

3.10%

7.88%

-4.78%

Volatility (1Y)

Calculated over the trailing 1-year period

3.87%

10.34%

-6.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.53%

13.92%

-6.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.29%

16.68%

-8.39%

HYG vs. VTV - Expense Ratio Comparison

HYG has a 0.49% expense ratio, which is higher than VTV's 0.04% expense ratio.

Dividends

HYG vs. VTV - Dividend Comparison

HYG's dividend yield for the trailing twelve months is around 5.90%, more than VTV's 1.85% yield.

PositionTTM20252024202320222021202020192018201720162015
HYG
iShares iBoxx $ High Yield Corporate Bond ETF		5.90%5.71%6.01%5.74%5.30%4.02%4.88%4.99%5.54%5.12%5.27%5.90%
VTV
Vanguard Value ETF		1.85%2.05%2.31%2.46%2.52%2.15%2.56%2.50%2.73%2.29%2.44%2.60%

Frequently Asked Questions

HYG and VTV have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VTV has higher volatility (3.25%) compared to HYG (1.31%). In terms of maximum drawdown, HYG dropped -34.25% vs VTV's -59.27%.

On 10-year performance, VTV leads with 12.64% vs 5.00% for HYG. On fees, VTV is cheaper at 0.04% per year. On volatility, HYG has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VTV has performed better with a 12.64% return vs 5.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VTV is cheaper with a 0.04% expense ratio, compared with 0.49% for HYG.

HYG has the higher dividend yield at 5.90%, compared with 1.85% for VTV.

HYG is categorized as High Yield Bonds, while VTV is Large Cap Value Equities. HYG tracks Markit iBoxx USD Liquid High Yield Index, while VTV tracks CRSP US Large Cap Value Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.49% for HYG and 0.04% for VTV.

VTV currently has the higher Sharpe Ratio (2.57 vs 1.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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