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HYGH vs. XHYE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYGH vs. XHYE

Last updated Jun 5, 2026

HYGH (iShares Interest Rate Hedged High Yield Bond ETF) and XHYE (BondBloxx US High Yield Energy Sector ETF) are both High Yield Bonds funds. HYGH is actively managed, while XHYE is passively managed. Over the past 3 years, HYGH returned 9.83%/yr vs 8.50%/yr for XHYE. A 0.69 correlation means they provide meaningful diversification when combined. HYGH charges 0.53%/yr vs 0.35%/yr for XHYE.

Performance

HYGH vs. XHYE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Interest Rate Hedged High Yield Bond ETF (HYGH) and BondBloxx US High Yield Energy Sector ETF (XHYE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HYGH achieves a 2.94% return, which is significantly lower than XHYE's 3.57% return.

HYGH

1D
0.10%
1M
0.66%
YTD
2.94%
6M
3.59%
1Y
7.78%
3Y*
9.83%
5Y*
6.97%
10Y*
6.31%

XHYE

1D
0.00%
1M
-0.19%
YTD
3.57%
6M
3.82%
1Y
8.97%
3Y*
8.50%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYGH vs. XHYE - Yearly Performance Comparison

2026 (YTD)2025202420232022
HYGH
iShares Interest Rate Hedged High Yield Bond ETF		2.94%6.94%11.22%12.17%1.57%
XHYE
BondBloxx US High Yield Energy Sector ETF		3.57%6.73%7.46%11.49%-1.77%

Correlation

The correlation between HYGH and XHYE is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.30

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

0.53

Correlation (All Time)
Calculated using the full available price history since Feb 18, 2022

0.69

Over the past year, the correlation between HYGH and XHYE has dropped to 0.30 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

HYGH vs. XHYE - Sectors Allocation Comparison

Sectors
HYGH
XHYE

Utilities

99.6%

-

Real Estate

0.4%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

49.2%

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

0.3%

Utilities

HYGH
99.6%
XHYE

-

Real Estate

HYGH
0.4%
XHYE

-

Basic Materials

HYGH

-

XHYE

-

Communication Services

HYGH

-

XHYE

-

Consumer Cyclical

HYGH

-

XHYE

-

Consumer Defensive

HYGH

-

XHYE

-

Energy

HYGH

-

XHYE
49.2%

Financial Services

HYGH

-

XHYE

-

Healthcare

HYGH

-

XHYE

-

Industrials

HYGH

-

XHYE

-

Technology

HYGH

-

XHYE
0.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Interest Rate Hedged High Yield Bond ETF

BondBloxx US High Yield Energy Sector ETF

Often compared with HYGH:
HYGH vs. HYGHYGH vs. SPYHYGH vs. SPHYHYGH vs. FAGIXHYGH vs. HYHGHYGH vs. HYGVHYGH vs. HYBL
Often compared with XHYE:
XHYE vs. SPHYXHYE vs. BSJPXHYE vs. ESHYXHYE vs. VGHYXHYE vs. XHYHXHYE vs. HYGVXHYE vs. VOO

Return for Risk

HYGH vs. XHYE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYGH
HYGH Risk / Return Rank: 7676
Overall Rank
HYGH Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
HYGH Sortino Ratio Rank: 7373
Sortino Ratio Rank
HYGH Omega Ratio Rank: 6969
Omega Ratio Rank
HYGH Calmar Ratio Rank: 8686
Calmar Ratio Rank
HYGH Martin Ratio Rank: 8787
Martin Ratio Rank
XHYE
XHYE Risk / Return Rank: 9494
Overall Rank
XHYE Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
XHYE Sortino Ratio Rank: 9595
Sortino Ratio Rank
XHYE Omega Ratio Rank: 9494
Omega Ratio Rank
XHYE Calmar Ratio Rank: 9595
Calmar Ratio Rank
XHYE Martin Ratio Rank: 9494
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.

HYGH vs. XHYE - 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 BondBloxx US High Yield Energy Sector ETF (XHYE). 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.

HYGHXHYEDifference
Sharpe ratioReturn per unit of total volatility
2.14
3.18

-1.04

Sortino ratioReturn per unit of downside risk
3.26
5.13

-1.87

Omega ratioGain probability vs. loss probability

1.40

1.69

-0.28

Calmar ratioReturn relative to maximum drawdown

4.82

8.50

-3.67

Martin ratioReturn relative to average drawdown

18.86

26.98

-8.12

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYGH vs. XHYE - Sharpe Ratio Comparison

The current HYGH Sharpe Ratio is 2.14, which is lower than the XHYE Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of HYGH and XHYE, 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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Sharpe Ratios by Period

HYGHXHYEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.14

3.18

-1.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.99

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.76

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.56

0.84

-0.28

Drawdowns

HYGH vs. XHYE - Drawdown Comparison

The maximum HYGH drawdown since its inception was -23.88%, which is greater than XHYE's maximum drawdown of -8.87%. Use the drawdown chart below to compare losses from any high point for HYGH and XHYE.

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Drawdown Indicators

HYGHXHYEDifference

Max Drawdown

Largest peak-to-trough decline

-23.88%

-8.87%

-15.01%

Max Drawdown (1Y)

Largest decline over 1 year

-1.62%

-1.21%

-0.41%

Max Drawdown (3Y)

Largest decline over 3 years

-8.06%

-6.40%

-1.66%

Max Drawdown (5Y)

Largest decline over 5 years

-8.24%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-23.88%

—

—

Current Drawdown

Current decline from peak

-0.13%

-0.36%

+0.23%

Average Drawdown

Average peak-to-trough decline

-2.23%

-1.42%

-0.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.41%

0.38%

+0.03%

Volatility

HYGH vs. XHYE - Volatility Comparison

iShares Interest Rate Hedged High Yield Bond ETF (HYGH) has a higher volatility of 0.61% compared to BondBloxx US High Yield Energy Sector ETF (XHYE) at 0.56%. This indicates that HYGH's price experiences larger fluctuations and is considered to be riskier than XHYE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HYGHXHYEDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.61%

0.56%

+0.05%

Volatility (6M)

Calculated over the trailing 6-month period

2.84%

1.98%

+0.86%

Volatility (1Y)

Calculated over the trailing 1-year period

3.65%

3.24%

+0.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.07%

7.60%

-0.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.35%

7.60%

+0.75%

HYGH vs. XHYE - Expense Ratio Comparison

HYGH has a 0.53% expense ratio, which is higher than XHYE's 0.35% expense ratio.

Dividends

HYGH vs. XHYE - Dividend Comparison

HYGH's dividend yield for the trailing twelve months is around 6.62%, more than XHYE's 5.79% yield.

PositionTTM20252024202320222021202020192018201720162015
HYGH
iShares Interest Rate Hedged High Yield Bond ETF		6.62%6.86%7.85%8.95%6.21%3.74%4.06%4.89%6.45%4.79%4.60%5.75%
XHYE
BondBloxx US High Yield Energy Sector ETF		5.79%6.55%7.04%6.46%5.46%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HYGH and XHYE have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HYGH has higher volatility (0.61%) compared to XHYE (0.56%). In terms of maximum drawdown, HYGH dropped -23.88% vs XHYE's -8.87%.

On 3-year performance, HYGH leads with 9.83% vs 8.50% for XHYE. On fees, XHYE is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, HYGH has performed better with a 9.83% return vs 8.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XHYE is cheaper with a 0.35% expense ratio, compared with 0.53% for HYGH.

HYGH has the higher dividend yield at 6.62%, compared with 5.79% for XHYE.

They also come from different issuers: iShares and BondBloxx. Their fees differ too: 0.53% for HYGH and 0.35% for XHYE.

XHYE currently has the higher Sharpe Ratio (3.18 vs 2.14), 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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