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HYGW vs. HYG
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Key characteristics


HYGWHYG
YTD Return7.08%8.49%
1Y Return9.35%13.41%
Sharpe Ratio3.623.06
Sortino Ratio5.624.84
Omega Ratio1.811.60
Calmar Ratio4.312.61
Martin Ratio36.7223.68
Ulcer Index0.26%0.61%
Daily Std Dev2.60%4.76%
Max Drawdown-5.49%-34.24%
Current Drawdown-0.52%-0.49%

Correlation

-0.50.00.51.00.8

The correlation between HYGW and HYG is 0.85, 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.

Performance

HYGW vs. HYG - Performance Comparison

In the year-to-date period, HYGW achieves a 7.08% return, which is significantly lower than HYG's 8.49% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.


-2.00%0.00%2.00%4.00%6.00%JuneJulyAugustSeptemberOctoberNovember
4.07%
6.16%
HYGW
HYG

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HYGW vs. HYG - Expense Ratio Comparison

HYGW has a 0.69% expense ratio, which is higher than HYG's 0.49% expense ratio.


HYGW
iShares High Yield Corporate Bond Buywrite Strategy ETF
Expense ratio chart for HYGW: current value at 0.69% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.69%
Expense ratio chart for HYG: current value at 0.49% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.49%

Risk-Adjusted Performance

HYGW vs. HYG - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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
Sharpe ratio
The chart of Sharpe ratio for HYGW, currently valued at 3.62, compared to the broader market-2.000.002.004.006.003.62
Sortino ratio
The chart of Sortino ratio for HYGW, currently valued at 5.62, compared to the broader market-2.000.002.004.006.008.0010.0012.005.62
Omega ratio
The chart of Omega ratio for HYGW, currently valued at 1.81, compared to the broader market1.001.502.002.503.001.81
Calmar ratio
The chart of Calmar ratio for HYGW, currently valued at 4.31, compared to the broader market0.005.0010.0015.004.31
Martin ratio
The chart of Martin ratio for HYGW, currently valued at 36.72, compared to the broader market0.0020.0040.0060.0080.00100.00120.0036.72
HYG
Sharpe ratio
The chart of Sharpe ratio for HYG, currently valued at 3.06, compared to the broader market-2.000.002.004.006.003.06
Sortino ratio
The chart of Sortino ratio for HYG, currently valued at 4.84, compared to the broader market-2.000.002.004.006.008.0010.0012.004.84
Omega ratio
The chart of Omega ratio for HYG, currently valued at 1.60, compared to the broader market1.001.502.002.503.001.60
Calmar ratio
The chart of Calmar ratio for HYG, currently valued at 6.20, compared to the broader market0.005.0010.0015.006.20
Martin ratio
The chart of Martin ratio for HYG, currently valued at 23.68, compared to the broader market0.0020.0040.0060.0080.00100.00120.0023.68

HYGW vs. HYG - Sharpe Ratio Comparison

The current HYGW Sharpe Ratio is 3.62, which is comparable to the HYG Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of HYGW and HYG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio1.502.002.503.003.504.00JuneJulyAugustSeptemberOctoberNovember
3.62
3.06
HYGW
HYG

Dividends

HYGW vs. HYG - Dividend Comparison

HYGW's dividend yield for the trailing twelve months is around 12.59%, more than HYG's 5.89% yield.


TTM20232022202120202019201820172016201520142013
HYGW
iShares High Yield Corporate Bond Buywrite Strategy ETF
12.59%15.98%8.72%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
HYG
iShares iBoxx $ High Yield Corporate Bond ETF
5.89%5.75%5.30%4.02%4.88%4.99%5.54%5.12%5.27%5.90%5.69%6.10%

Drawdowns

HYGW vs. HYG - Drawdown Comparison

The maximum HYGW drawdown since its inception was -5.49%, smaller than the maximum HYG drawdown of -34.24%. Use the drawdown chart below to compare losses from any high point for HYGW and HYG. For additional features, visit the drawdowns tool.


-1.20%-1.00%-0.80%-0.60%-0.40%-0.20%0.00%JuneJulyAugustSeptemberOctoberNovember
-0.52%
-0.49%
HYGW
HYG

Volatility

HYGW vs. HYG - Volatility Comparison

The current volatility for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) is 1.07%, while iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has a volatility of 1.13%. This indicates that HYGW experiences smaller price fluctuations and is considered to be less risky than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.40%0.60%0.80%1.00%1.20%1.40%1.60%JuneJulyAugustSeptemberOctoberNovember
1.07%
1.13%
HYGW
HYG