HYGH vs. MGV
HYGH (iShares Interest Rate Hedged High Yield Bond ETF) and MGV (Vanguard Mega Cap Value ETF) are both exchange-traded funds - HYGH is a High Yield Bonds fund actively managed by iShares, while MGV is a Large Cap Value Equities fund tracking the CRSP US Mega Cap Value Index. HYGH is actively managed, while MGV is passively managed. Over the past 10 years, HYGH returned 6.50%/yr vs 13.15%/yr for MGV. A 0.61 correlation means they provide meaningful diversification when combined. HYGH charges 0.53%/yr vs 0.05%/yr for MGV.
Performance
HYGH vs. MGV - Performance Comparison
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Returns By Period
In the year-to-date period, HYGH achieves a 3.24% return, which is significantly lower than MGV's 15.50% return. Over the past 10 years, HYGH has underperformed MGV with an annualized return of 6.50%, while MGV has yielded a comparatively higher 13.15% annualized return.
HYGH
- 1D
- 0.17%
- 1M
- 0.74%
- YTD
- 3.24%
- 6M
- 3.69%
- 1Y
- 8.03%
- 3Y*
- 9.63%
- 5Y*
- 7.00%
- 10Y*
- 6.50%
MGV
- 1D
- 0.90%
- 1M
- 4.18%
- YTD
- 15.50%
- 6M
- 15.37%
- 1Y
- 28.69%
- 3Y*
- 18.98%
- 5Y*
- 12.53%
- 10Y*
- 13.15%
HYGH vs. MGV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 3.24% | 6.94% | 11.22% | 12.17% | -0.92% | 5.82% | 0.54% | 11.09% | -0.85% | 6.38% |
MGV Vanguard Mega Cap Value ETF | 15.50% | 15.45% | 16.94% | 9.16% | -1.22% | 25.93% | 2.50% | 25.54% | -4.13% | 16.85% |
Correlation
The correlation between HYGH and MGV is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since May 29, 2014 | 0.61 |
The correlation between HYGH and MGV shifts across timeframes, from 0.47 (1 year) to 0.63 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYGH vs. MGV — Risk / Return Rank
HYGH
MGV
HYGH vs. MGV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged High Yield Bond ETF (HYGH) and Vanguard Mega Cap Value ETF (MGV). 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.
| HYGH | MGV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.50 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.88 | 4.36 | +0.52 |
| Martin ratioReturn relative to average drawdown | 19.08 | 16.56 | +2.52 |
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Drawdowns
HYGH vs. MGV - Drawdown Comparison
The maximum HYGH drawdown since its inception was -23.88%, smaller than the maximum MGV drawdown of -56.07%. Use the drawdown chart below to compare losses from any high point for HYGH and MGV.
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Drawdown Indicators
| HYGH | MGV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.88% | -56.07% | +32.19% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -6.42% | +4.80% |
Max Drawdown (3Y)Largest decline over 3 years | -8.06% | -13.18% | +5.12% |
Max Drawdown (5Y)Largest decline over 5 years | -8.24% | -16.54% | +8.30% |
Max Drawdown (10Y)Largest decline over 10 years | -23.88% | -35.41% | +11.53% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.22% | -7.78% | +5.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 1.69% | -1.28% |
Volatility
HYGH vs. MGV - Volatility Comparison
The current volatility for iShares Interest Rate Hedged High Yield Bond ETF (HYGH) is 0.68%, while Vanguard Mega Cap Value ETF (MGV) has a volatility of 3.33%. This indicates that HYGH experiences smaller price fluctuations and is considered to be less risky than MGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYGH | MGV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 3.33% | -2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 7.77% | -4.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.66% | 10.13% | -6.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.07% | 13.61% | -6.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.34% | 16.35% | -8.01% |
HYGH vs. MGV - Expense Ratio Comparison
HYGH has a 0.53% expense ratio, which is higher than MGV's 0.05% expense ratio.
Dividends
HYGH vs. MGV - Dividend Comparison
HYGH's dividend yield for the trailing twelve months is around 6.60%, more than MGV's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.60% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
MGV Vanguard Mega Cap Value ETF | 1.85% | 2.04% | 2.31% | 2.48% | 2.45% | 2.17% | 2.47% | 2.69% | 2.65% | 2.34% | 2.53% | 2.59% |
Frequently Asked Questions
HYGH and MGV have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGV has higher volatility (3.33%) compared to HYGH (0.68%). In terms of maximum drawdown, HYGH dropped -23.88% vs MGV's -56.07%.
On 10-year performance, MGV leads with 13.15% vs 6.50% for HYGH. On fees, MGV is cheaper at 0.05% per year. On volatility, HYGH has been the lower-risk option at 0.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MGV has performed better with a 13.15% return vs 6.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MGV is cheaper with a 0.05% expense ratio, compared with 0.53% for HYGH.
HYGH has the higher dividend yield at 6.60%, compared with 1.85% for MGV.
HYGH is categorized as High Yield Bonds, while MGV is Large Cap Value Equities. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.53% for HYGH and 0.05% for MGV.
MGV currently has the higher Sharpe Ratio (2.76 vs 2.16), 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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