HYGH vs. THY
HYGH (iShares Interest Rate Hedged High Yield Bond ETF) and THY (Agility Shares Dynamic Tactical Income ETF) are both High Yield Bonds funds. HYGH is passively managed, while THY is actively managed. Over the past 5 years, HYGH returned 6.94%/yr vs 1.71%/yr for THY. A 0.54 correlation means they provide meaningful diversification when combined. HYGH charges 0.52%/yr vs 1.36%/yr for THY.
Performance
HYGH vs. THY - Performance Comparison
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Returns By Period
In the year-to-date period, HYGH achieves a 3.37% return, which is significantly higher than THY's 0.83% return.
HYGH
- 1D
- -0.05%
- 1M
- 0.60%
- YTD
- 3.37%
- 6M
- 3.70%
- 1Y
- 7.78%
- 3Y*
- 9.89%
- 5Y*
- 6.94%
- 10Y*
- 6.48%
THY
- 1D
- -0.06%
- 1M
- 0.64%
- YTD
- 0.83%
- 6M
- 1.25%
- 1Y
- 3.55%
- 3Y*
- 5.48%
- 5Y*
- 1.71%
- 10Y*
- —
HYGH vs. THY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 3.37% | 6.94% | 11.22% | 12.17% | -0.92% | 5.82% | 9.24% |
THY Agility Shares Dynamic Tactical Income ETF | 0.83% | 4.44% | 5.38% | 4.97% | -5.62% | -0.46% | 3.50% |
Correlation
The correlation between HYGH and THY is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2020 | 0.54 |
The correlation between HYGH and THY has been stable across timeframes, ranging from 0.48 to 0.54 - a consistent structural relationship.
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Return for Risk
HYGH vs. THY — Risk / Return Rank
HYGH
THY
HYGH vs. THY - 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 Agility Shares Dynamic Tactical Income ETF (THY). 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 | THY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.22 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 4.82 | 2.23 | +2.60 |
| Martin ratioReturn relative to average drawdown | 18.86 | 5.27 | +13.58 |
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Drawdowns
HYGH vs. THY - Drawdown Comparison
The maximum HYGH drawdown since its inception was -23.88%, which is greater than THY's maximum drawdown of -8.56%. Use the drawdown chart below to compare losses from any high point for HYGH and THY.
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Drawdown Indicators
| HYGH | THY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.88% | -8.56% | -15.32% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -1.60% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -8.06% | -2.74% | -5.32% |
Max Drawdown (5Y)Largest decline over 5 years | -8.24% | -8.56% | +0.32% |
Max Drawdown (10Y)Largest decline over 10 years | -23.88% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | -0.46% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -2.22% | -2.60% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 0.68% | -0.27% |
Volatility
HYGH vs. THY - Volatility Comparison
The current volatility for iShares Interest Rate Hedged High Yield Bond ETF (HYGH) is 0.63%, while Agility Shares Dynamic Tactical Income ETF (THY) has a volatility of 0.97%. This indicates that HYGH experiences smaller price fluctuations and is considered to be less risky than THY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYGH | THY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.97% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 1.97% | +0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.65% | 2.99% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.08% | 4.56% | +2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.33% | 4.47% | +3.86% |
HYGH vs. THY - Expense Ratio Comparison
HYGH has a 0.52% expense ratio, which is lower than THY's 1.36% expense ratio.
Dividends
HYGH vs. THY - Dividend Comparison
HYGH's dividend yield for the trailing twelve months is around 6.60%, more than THY's 5.43% 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% |
THY Agility Shares Dynamic Tactical Income ETF | 5.43% | 6.00% | 5.09% | 4.59% | 2.56% | 3.46% | 2.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYGH and THY have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
THY has higher volatility (0.97%) compared to HYGH (0.63%). In terms of maximum drawdown, HYGH dropped -23.88% vs THY's -8.56%.
On 5-year performance, HYGH leads with 6.94% vs 1.71% for THY. On fees, HYGH is cheaper at 0.52% per year. On volatility, HYGH has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYGH has performed better with a 6.94% return vs 1.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYGH is cheaper with a 0.52% expense ratio, compared with 1.36% for THY.
HYGH has the higher dividend yield at 6.60%, compared with 5.43% for THY.
They also come from different issuers: iShares and Toews Corp.. Their fees differ too: 0.52% for HYGH and 1.36% for THY.
HYGH currently has the higher Sharpe Ratio (2.15 vs 1.20), 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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