HYGV vs. HYGW
Compare and contrast key facts about FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW).
HYGV and HYGW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYGV is a passively managed fund by Northern Trust that tracks the performance of the Northern Trust High Yield Value-Scored US Corporate Bond Index. It was launched on Jul 17, 2018. HYGW is a passively managed fund by iShares that tracks the performance of the Cboe HYG BuyWrite Index. It was launched on Aug 18, 2022. Both HYGV and HYGW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
HYGV vs. HYGW - Performance Comparison
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HYGV vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYGV FlexShares High Yield Value-Scored US Bond Index Fund | -0.03% | 7.92% | 8.02% | 12.11% | -1.65% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 0.37% | 6.19% | 6.99% | 7.31% | -0.12% |
Returns By Period
In the year-to-date period, HYGV achieves a -0.03% return, which is significantly lower than HYGW's 0.37% return.
HYGV
- 1D
- 0.20%
- 1M
- -0.38%
- YTD
- -0.03%
- 6M
- 1.12%
- 1Y
- 6.92%
- 3Y*
- 8.03%
- 5Y*
- 3.47%
- 10Y*
- —
HYGW
- 1D
- 0.04%
- 1M
- -0.16%
- YTD
- 0.37%
- 6M
- 2.03%
- 1Y
- 5.42%
- 3Y*
- 5.63%
- 5Y*
- —
- 10Y*
- —
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HYGV vs. HYGW - Expense Ratio Comparison
HYGV has a 0.37% expense ratio, which is lower than HYGW's 0.69% expense ratio.
Return for Risk
HYGV vs. HYGW — Risk / Return Rank
HYGV
HYGW
HYGV vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.
| HYGV | HYGW | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.12 | 1.28 | -0.16 |
Sortino ratioReturn per unit of downside risk | 1.60 | 1.76 | -0.17 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.31 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.56 | 1.70 | -0.13 |
Martin ratioReturn relative to average drawdown | 7.50 | 8.93 | -1.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYGV | HYGW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.12 | 1.28 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 1.21 | -0.67 |
Correlation
The correlation between HYGV and HYGW is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
HYGV vs. HYGW - Dividend Comparison
HYGV's dividend yield for the trailing twelve months is around 7.50%, less than HYGW's 12.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYGV FlexShares High Yield Value-Scored US Bond Index Fund | 7.50% | 7.48% | 8.20% | 8.77% | 7.64% | 6.07% | 6.18% | 7.95% | 5.63% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 12.82% | 12.53% | 12.30% | 15.98% | 8.71% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
HYGV vs. HYGW - Drawdown Comparison
The maximum HYGV drawdown since its inception was -23.47%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for HYGV and HYGW.
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Drawdown Indicators
| HYGV | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.47% | -5.49% | -17.98% |
Max Drawdown (1Y)Largest decline over 1 year | -3.16% | -2.42% | -0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | — | — |
Current DrawdownCurrent decline from peak | -1.12% | -0.70% | -0.42% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -0.63% | -2.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.61% | +0.34% |
Volatility
HYGV vs. HYGW - Volatility Comparison
FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) has a higher volatility of 2.32% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 1.66%. This indicates that HYGV's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYGV | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.32% | 1.66% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 2.99% | 2.38% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.19% | 4.25% | +1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.56% | 4.76% | +2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.28% | 4.76% | +4.52% |