HYGW vs. ESHY

Last updated Jun 5, 2026

HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) and ESHY (Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - HYGW tracks the Cboe HYG BuyWrite Index while ESHY tracks the JPMorgan ESG DM Corporate High Yield USD Index. Both are passively managed. HYGW charges 0.69%/yr vs 0.20%/yr for ESHY.

Performance

HYGW vs. ESHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF (ESHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYGW

• 1D: 0.20%
• 1M: 0.66%
• YTD: 1.89%
• 6M: 2.47%
• 1Y: 6.67%
• 3Y*: 5.74%
• 5Y*: —
• 10Y*: —

ESHY

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYGW vs. ESHY - Yearly Performance Comparison

	2026 (YTD)
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	1.18%
ESHY Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF	0.00%

HYGW vs. ESHY - Sectors Allocation Comparison

Sectors	HYGW	ESHY
Utilities	99.6%	-
Real Estate	0.4%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-

Return for Risk

HYGW vs. ESHY — Risk / Return Rank

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

HYGW

HYGW Risk / Return Rank: 80
HYGW Sharpe Ratio Rank: 75
HYGW Sortino Ratio Rank: 80
HYGW Omega Ratio Rank: 86
HYGW Calmar Ratio Rank: 75
HYGW Martin Ratio Rank: 84

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.

HYGW vs. ESHY - 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 Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF (ESHY). 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	ESHY	Difference
Sharpe ratio: Return per unit of total volatility	2.39	—	—
Sortino ratio: Return per unit of downside risk	3.51	—	—
Omega ratio: Gain probability vs. loss probability	1.52	—	—
Calmar ratio: Return relative to maximum drawdown	3.69	—	—
Martin ratio: Return relative to average drawdown	16.88	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HYGW	ESHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.26	—	—

Drawdowns

HYGW vs. ESHY - Drawdown Comparison

The maximum HYGW drawdown since its inception was -5.49%, which is greater than ESHY's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for HYGW and ESHY.

Drawdown Indicators

	HYGW	ESHY	Difference
Max Drawdown Largest peak-to-trough decline	-5.49%	0.00%	-5.49%
Max Drawdown (1Y) Largest decline over 1 year	-1.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.66%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.61%	0.00%	-0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	—	—

Volatility

Volatility by Period

	HYGW	ESHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.81%	0.00%	+2.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.68%	0.00%	+4.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.68%	0.00%	+4.68%

HYGW vs. ESHY - Expense Ratio Comparison

HYGW has a 0.69% expense ratio, which is higher than ESHY's 0.20% expense ratio.

Dividends

HYGW vs. ESHY - Dividend Comparison

HYGW's dividend yield for the trailing twelve months is around 11.54%, while ESHY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
ESHY Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	11.54%	12.53%	12.30%	15.98%	8.71%

Frequently Asked Questions

Which ETF is better, HYGW or ESHY?

On fees, ESHY is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYGW or ESHY?

ESHY is cheaper with a 0.20% expense ratio, compared with 0.69% for HYGW.

Which ETF pays a higher dividend yield, HYGW or ESHY?

HYGW has the higher dividend yield at 11.54%, compared with 0.00% for ESHY.

What is the main difference between HYGW and ESHY?

HYGW tracks Cboe HYG BuyWrite Index, while ESHY tracks JPMorgan ESG DM Corporate High Yield USD Index. They also come from different issuers: iShares and Deutsche Bank. Their fees differ too: 0.69% for HYGW and 0.20% for ESHY.