HYGW vs. ESHY

Last updated Apr 2, 2026

Compare and contrast key facts about iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF (ESHY).

HYGW and ESHY 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. ESHY is a passively managed fund by Deutsche Bank that tracks the performance of the JPMorgan ESG DM Corporate High Yield USD Index. It was launched on Mar 3, 2015. Both HYGW and ESHY 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. 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.

HYGW vs. ESHY - Yearly Performance Comparison

	2026 (YTD)
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	-0.38%
ESHY Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF	0.00%

Returns By Period

HYGW

• 1D: 0.18%
• 1M: -0.51%
• YTD: 0.33%
• 6M: 1.90%
• 1Y: 5.44%
• 3Y*: 5.64%
• 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 - Expense Ratio Comparison

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

HYGW

iShares High Yield Corporate Bond Buywrite Strategy ETF

ESHY

Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF

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: 73
HYGW Sharpe Ratio Rank: 70
HYGW Sortino Ratio Rank: 68
HYGW Omega Ratio Rank: 79
HYGW Calmar Ratio Rank: 67
HYGW Martin Ratio Rank: 82

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	1.29	—	—
Sortino ratio Return per unit of downside risk	1.77	—	—
Omega ratio Gain probability vs. loss probability	1.31	—	—
Calmar ratio Return relative to maximum drawdown	1.80	—	—
Martin ratio Return relative to average drawdown	9.49	—	—
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	1.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	—	—

Dividends

HYGW vs. ESHY - Dividend Comparison

HYGW's dividend yield for the trailing twelve months is around 12.21%, while ESHY has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	12.21%	12.53%	12.30%	15.98%	8.71%
ESHY Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%

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	-3.23%	—	—
Current Drawdown Current decline from peak	-0.74%	0.00%	-0.74%
Average Drawdown Average peak-to-trough decline	-0.63%	0.00%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	—	—

Volatility

Volatility by Period

	HYGW	ESHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.69%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.38%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.27%	0.00%	+4.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.76%	0.00%	+4.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.76%	0.00%	+4.76%