HYGW vs. TIME
Compare and contrast key facts about iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and Clockwise Core Equity & Innovation ETF (TIME).
HYGW and TIME 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. TIME is an actively managed fund by Clockwise Capital. It was launched on Jan 27, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYGW or TIME.
Key characteristics
| HYGW | TIME | |
|---|---|---|
| YTD Return | 7.44% | 43.75% |
| 1Y Return | 9.80% | 59.49% |
| Sharpe Ratio | 3.80 | 3.42 |
| Sortino Ratio | 5.93 | 4.22 |
| Omega Ratio | 1.87 | 1.58 |
| Calmar Ratio | 4.44 | 4.00 |
| Martin Ratio | 38.81 | 18.84 |
| Ulcer Index | 0.25% | 3.30% |
| Daily Std Dev | 2.59% | 18.16% |
| Max Drawdown | -5.49% | -42.24% |
| Current Drawdown | -0.18% | 0.00% |
Correlation
The correlation between HYGW and TIME is 0.53, 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.
Performance
HYGW vs. TIME - Performance Comparison
In the year-to-date period, HYGW achieves a 7.44% return, which is significantly lower than TIME's 43.75% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HYGW vs. TIME - Expense Ratio Comparison
HYGW has a 0.69% expense ratio, which is lower than TIME's 1.00% expense ratio.
Risk-Adjusted Performance
HYGW vs. TIME - 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 Clockwise Core Equity & Innovation ETF (TIME). 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.
Dividends
HYGW vs. TIME - Dividend Comparison
HYGW's dividend yield for the trailing twelve months is around 12.55%, less than TIME's 14.63% yield.
| TTM | 2023 | 2022 | |
|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 12.55% | 15.98% | 8.72% |
TIME Clockwise Core Equity & Innovation ETF | 14.63% | 21.04% | 0.00% |
Drawdowns
HYGW vs. TIME - Drawdown Comparison
The maximum HYGW drawdown since its inception was -5.49%, smaller than the maximum TIME drawdown of -42.24%. Use the drawdown chart below to compare losses from any high point for HYGW and TIME. For additional features, visit the drawdowns tool.
Volatility
HYGW vs. TIME - Volatility Comparison
The current volatility for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) is 1.03%, while Clockwise Core Equity & Innovation ETF (TIME) has a volatility of 6.74%. This indicates that HYGW experiences smaller price fluctuations and is considered to be less risky than TIME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.