HYGI vs. FLUD

Last updated Jul 17, 2026

HYGI (iShares Inflation Hedged High Yield Bond ETF) and FLUD (Franklin Ultra Short Bond ETF) are both exchange-traded funds - HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while FLUD is a Ultrashort Bond fund actively managed by Franklin Templeton. HYGI is passively managed, while FLUD is actively managed. At a 0.06 correlation, their price movements are largely independent. HYGI charges 0.52%/yr vs 0.15%/yr for FLUD.

Performance

HYGI vs. FLUD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Inflation Hedged High Yield Bond ETF (HYGI) and Franklin Ultra Short Bond ETF (FLUD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYGI

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLUD

• 1D: 0.04%
• 1M: 0.28%
• 6M: 1.74%
• YTD: 1.95%
• 1Y: 4.28%
• 3Y*: 5.24%
• 5Y*: 3.72%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HYGI vs. FLUD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HYGI iShares Inflation Hedged High Yield Bond ETF	0.00%	6.20%	9.16%	11.71%	0.65%
FLUD Franklin Ultra Short Bond ETF	1.95%	5.36%	5.44%	5.95%	1.28%

Correlation

The correlation between HYGI and FLUD is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022	0.06

The correlation between HYGI and FLUD shifts across timeframes, from -0.11 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HYGI vs. FLUD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYGI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FLUD

FLUD Risk / Return Rank: 96
FLUD Sharpe Ratio Rank: 94
FLUD Sortino Ratio Rank: 95
FLUD Omega Ratio Rank: 95
FLUD Calmar Ratio Rank: 98
FLUD Martin Ratio Rank: 98

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.

HYGI vs. FLUD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Inflation Hedged High Yield Bond ETF (HYGI) and Franklin Ultra Short Bond ETF (FLUD). 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.

	HYGI	FLUD	Difference
Sharpe ratio: Return per unit of total volatility	—	2.75	—
Sortino ratio: Return per unit of downside risk	—	4.35	—
Omega ratio: Gain probability vs. loss probability	—	1.60	—
Calmar ratio: Return relative to maximum drawdown	—	9.82	—
Martin ratio: Return relative to average drawdown	—	40.09	—

Drawdowns

Drawdown Indicators

	HYGI	FLUD	Difference
Max Drawdown Largest peak-to-trough decline	—	-1.66%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-0.44%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.59%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-1.66%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.24%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.11%	—

Volatility

Volatility by Period

	HYGI	FLUD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.78%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	1.57%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	1.34%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	1.26%	—

HYGI vs. FLUD - Expense Ratio Comparison

HYGI has a 0.52% expense ratio, which is higher than FLUD's 0.15% expense ratio.

Dividends

HYGI vs. FLUD - Dividend Comparison

HYGI has not paid dividends to shareholders, while FLUD's dividend yield for the trailing twelve months is around 4.15%.

Position	TTM	2025	2024	2023	2022	2021	2020
FLUD Franklin Ultra Short Bond ETF	4.15%	4.51%	4.97%	4.72%	1.39%	0.92%	0.93%
HYGI iShares Inflation Hedged High Yield Bond ETF	0.50%	3.41%	6.08%	6.22%	3.19%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYGI and FLUD in my portfolio?

HYGI and FLUD have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYGI or FLUD?

On fees, FLUD is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYGI or FLUD?

FLUD is cheaper with a 0.15% expense ratio, compared with 0.52% for HYGI.

Which ETF pays a higher dividend yield, HYGI or FLUD?

FLUD has the higher dividend yield at 4.15%, compared with 0.50% for HYGI.

What is the main difference between HYGI and FLUD?

HYGI is categorized as Inflation-Protected Bonds, while FLUD is Ultrashort Bond. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.52% for HYGI and 0.15% for FLUD.