HYGV vs. NHYB
HYGV (FlexShares High Yield Value-Scored US Bond Index Fund) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds - HYGV tracks the Northern Trust High Yield Value-Scored US Corporate Bond Index while NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index. Both are passively managed. Their correlation of 0.89 suggests significant overlap in exposure. HYGV charges 0.37%/yr vs 0.08%/yr for NHYB.
Performance
HYGV vs. NHYB - Performance Comparison
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Returns By Period
In the year-to-date period, HYGV achieves a 1.68% return, which is significantly lower than NHYB's 1.91% return.
HYGV
- 1D
- -0.10%
- 1M
- 0.59%
- YTD
- 1.68%
- 6M
- 1.77%
- 1Y
- 6.27%
- 3Y*
- 8.59%
- 5Y*
- 3.36%
- 10Y*
- —
NHYB
- 1D
- -0.04%
- 1M
- 0.52%
- YTD
- 1.91%
- 6M
- 1.99%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYGV vs. NHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HYGV FlexShares High Yield Value-Scored US Bond Index Fund | 1.68% | 1.16% |
NHYB Nuveen High Yield Corporate Bond ETF | 1.91% | 1.24% |
Correlation
The correlation between HYGV and NHYB is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025 | 0.89 |
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Return for Risk
HYGV vs. NHYB — Risk / Return Rank
HYGV
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYGV vs. NHYB - 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 Nuveen High Yield Corporate Bond ETF (NHYB). 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.
| HYGV | NHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.31 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | — | — |
| Martin ratioReturn relative to average drawdown | 10.10 | — | — |
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Drawdowns
HYGV vs. NHYB - Drawdown Comparison
The maximum HYGV drawdown since its inception was -23.47%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for HYGV and NHYB.
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Drawdown Indicators
| HYGV | NHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.47% | -2.40% | -21.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.56% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | — | — |
Current DrawdownCurrent decline from peak | -0.27% | -0.20% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -3.30% | -0.36% | -2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | — | — |
Volatility
HYGV vs. NHYB - Volatility Comparison
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Volatility by Period
| HYGV | NHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.89% | 3.64% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.60% | 3.64% | +3.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.17% | 3.64% | +5.53% |
HYGV vs. NHYB - Expense Ratio Comparison
HYGV has a 0.37% expense ratio, which is higher than NHYB's 0.08% expense ratio.
Dividends
HYGV vs. NHYB - Dividend Comparison
HYGV's dividend yield for the trailing twelve months is around 7.39%, more than NHYB's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HYGV FlexShares High Yield Value-Scored US Bond Index Fund | 7.39% | 7.48% | 8.20% | 8.77% | 7.64% | 6.07% | 6.18% | 7.95% | 5.63% |
NHYB Nuveen High Yield Corporate Bond ETF | 4.25% | 1.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYGV and NHYB have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NHYB is cheaper with a 0.08% expense ratio, compared with 0.37% for HYGV.
HYGV has the higher dividend yield at 7.39%, compared with 4.25% for NHYB.
HYGV tracks Northern Trust High Yield Value-Scored US Corporate Bond Index, while NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index. They also come from different issuers: Northern Trust and Nuveen. Their fees differ too: 0.37% for HYGV and 0.08% for NHYB.
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