HYGW vs. BLV
Compare and contrast key facts about iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and Vanguard Long-Term Bond ETF (BLV).
HYGW and BLV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. BLV is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Long Government/Credit Float Adjusted Index. It was launched on Apr 3, 2007. Both HYGW and BLV 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
HYGW vs. BLV - Performance Comparison
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HYGW vs. BLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 0.33% | 6.19% | 6.99% | 7.31% | -0.12% |
BLV Vanguard Long-Term Bond ETF | -0.30% | 6.44% | -3.65% | 7.35% | -7.14% |
Returns By Period
In the year-to-date period, HYGW achieves a 0.33% return, which is significantly higher than BLV's -0.30% return.
HYGW
- 1D
- 0.18%
- 1M
- -0.51%
- YTD
- 0.33%
- 6M
- 1.90%
- 1Y
- 5.44%
- 3Y*
- 5.64%
- 5Y*
- —
- 10Y*
- —
BLV
- 1D
- 0.02%
- 1M
- -2.79%
- YTD
- -0.30%
- 6M
- -0.97%
- 1Y
- 1.71%
- 3Y*
- 1.02%
- 5Y*
- -3.05%
- 10Y*
- 1.20%
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HYGW vs. BLV - Expense Ratio Comparison
HYGW has a 0.69% expense ratio, which is higher than BLV's 0.03% expense ratio.
Return for Risk
HYGW vs. BLV — Risk / Return Rank
HYGW
BLV
HYGW vs. BLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and Vanguard Long-Term Bond ETF (BLV). 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.
| HYGW | BLV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.29 | 0.18 | +1.11 |
Sortino ratioReturn per unit of downside risk | 1.77 | 0.30 | +1.47 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.04 | +0.27 |
Calmar ratioReturn relative to maximum drawdown | 1.80 | 0.34 | +1.46 |
Martin ratioReturn relative to average drawdown | 9.49 | 0.83 | +8.66 |
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
| HYGW | BLV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.29 | 0.18 | +1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.24 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.20 | 0.37 | +0.84 |
Correlation
The correlation between HYGW and BLV is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
HYGW vs. BLV - Dividend Comparison
HYGW's dividend yield for the trailing twelve months is around 12.21%, more than BLV's 4.76% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 12.21% | 12.53% | 12.30% | 15.98% | 8.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BLV Vanguard Long-Term Bond ETF | 4.76% | 4.67% | 5.09% | 4.06% | 4.17% | 3.37% | 6.12% | 3.57% | 4.07% | 3.63% | 4.16% | 4.37% |
Drawdowns
HYGW vs. BLV - Drawdown Comparison
The maximum HYGW drawdown since its inception was -5.49%, smaller than the maximum BLV drawdown of -38.29%. Use the drawdown chart below to compare losses from any high point for HYGW and BLV.
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Drawdown Indicators
| HYGW | BLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.49% | -38.29% | +32.80% |
Max Drawdown (1Y)Largest decline over 1 year | -3.23% | -6.89% | +3.66% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.27% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.29% | — |
Current DrawdownCurrent decline from peak | -0.74% | -24.58% | +23.84% |
Average DrawdownAverage peak-to-trough decline | -0.63% | -9.38% | +8.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 2.85% | -2.24% |
Volatility
HYGW vs. BLV - Volatility Comparison
The current volatility for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) is 1.69%, while Vanguard Long-Term Bond ETF (BLV) has a volatility of 3.54%. This indicates that HYGW experiences smaller price fluctuations and is considered to be less risky than BLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYGW | BLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 3.54% | -1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 5.49% | -3.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.27% | 9.75% | -5.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.76% | 12.97% | -8.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.76% | 11.99% | -7.23% |