HYGI vs. OGSP
HYGI (iShares Inflation Hedged High Yield Bond ETF) and OGSP (Obra High Grade Structured Products 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 OGSP is a Multisector Bonds fund actively managed by Obra. HYGI is passively managed, while OGSP is actively managed. Their 0.03 correlation means their historical movements had little consistent relationship. HYGI charges 0.52%/yr vs 0.90%/yr for OGSP.
Performance
HYGI vs. OGSP - Performance Comparison
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Returns By Period
HYGI
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
OGSP
- 1D
- 0.00%
- 1M
- 0.33%
- 6M
- 2.18%
- YTD
- 2.52%
- 1Y
- 5.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $261.11 | $1.55K | $2.46K |
HYGI vs. OGSP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.00% | 6.20% | 6.77% |
OGSP Obra High Grade Structured Products ETF | 2.52% | 6.22% | 5.15% |
Correlation
The correlation between HYGI and OGSP is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2024 | 0.03 |
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Return for Risk
HYGI vs. OGSP — Risk / Return Rank
HYGI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
OGSP
HYGI vs. OGSP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Inflation Hedged High Yield Bond ETF (HYGI) and Obra High Grade Structured Products ETF (OGSP). 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 | OGSP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 2.19 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 11.99 | — |
| Martin ratioReturn relative to average drawdown | — | 34.09 | — |
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Drawdowns
HYGI vs. OGSP - Drawdown Comparison
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Drawdown Indicators
| HYGI | OGSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -0.82% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.44% | — |
Current DrawdownCurrent decline from peak | — | 0.00% | — |
Average DrawdownAverage peak-to-trough decline | — | -0.09% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.16% | — |
Volatility
HYGI vs. OGSP - Volatility Comparison
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Volatility by Period
| HYGI | OGSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.29% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.72% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 1.53% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 1.88% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 1.88% | — |
HYGI vs. OGSP - Expense Ratio Comparison
HYGI has a 0.52% expense ratio, which is lower than OGSP's 0.90% expense ratio.
Dividends
HYGI vs. OGSP - Dividend Comparison
HYGI has not paid dividends to shareholders, while OGSP's dividend yield for the trailing twelve months is around 5.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.50% | 3.41% | 6.08% | 6.22% | 3.19% |
OGSP Obra High Grade Structured Products ETF | 5.86% | 5.88% | 4.55% | 0.00% | 0.00% |
Frequently Asked Questions
HYGI and OGSP have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYGI is cheaper at 0.52% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYGI is cheaper with a 0.52% expense ratio, compared with 0.90% for OGSP.
OGSP has the higher dividend yield at 5.86%, compared with 0.50% for HYGI.
HYGI is categorized as Inflation-Protected Bonds, while OGSP is Multisector Bonds. They also come from different issuers: iShares and Obra. Their fees differ too: 0.52% for HYGI and 0.90% for OGSP.
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