HYHG vs. BSJQ

Last updated Jun 5, 2026

HYHG (ProShares High Yield-Interest Rate Hedged) and BSJQ (Invesco BulletShares 2026 High Yield Corp Bond ETF) are both High Yield Bonds funds - HYHG tracks the Citi High Yield (Treasury Rate-Hedged) Index while BSJQ tracks the NASDAQ BulletShares USD High Yield Corporate Bond 2026 TR Index. Both are passively managed. Over the past 5 years, HYHG returned 6.99%/yr vs 3.75%/yr for BSJQ. A 0.58 correlation means they provide meaningful diversification when combined. HYHG charges 0.50%/yr vs 0.42%/yr for BSJQ.

Performance

HYHG vs. BSJQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares High Yield-Interest Rate Hedged (HYHG) and Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYHG achieves a 3.03% return, which is significantly higher than BSJQ's 0.89% return.

HYHG

• 1D: 0.12%
• 1M: 0.64%
• YTD: 3.03%
• 6M: 3.57%
• 1Y: 7.52%
• 3Y*: 9.78%
• 5Y*: 6.99%
• 10Y*: 6.12%

BSJQ

• 1D: 0.04%
• 1M: -0.26%
• YTD: 0.89%
• 6M: 1.20%
• 1Y: 4.61%
• 3Y*: 7.03%
• 5Y*: 3.75%
• 10Y*: —

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

HYHG vs. BSJQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HYHG ProShares High Yield-Interest Rate Hedged	3.03%	5.31%	11.41%	14.69%	-1.71%	5.75%	0.16%	12.02%	-5.73%
BSJQ Invesco BulletShares 2026 High Yield Corp Bond ETF	0.89%	6.59%	7.49%	9.83%	-7.35%	4.53%	2.80%	16.74%	-4.08%

Correlation

The correlation between HYHG and BSJQ is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Aug 10, 2018	0.58

Over the past year, the correlation between HYHG and BSJQ has dropped to 0.27 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

HYHG vs. BSJQ - Sectors Allocation Comparison

Sectors	HYHG	BSJQ
Communication Services	1.1%	1.8%
Healthcare	0.6%	-
Basic Materials	-	-
Consumer Cyclical	-	7.0%
Consumer Defensive	-	-
Energy	-	1.6%
Financial Services	-	39.0%
Industrials	-	2.1%
Real Estate	-	3.6%
Technology	-	5.0%
Utilities	-	-

Return for Risk

HYHG vs. BSJQ — Risk / Return Rank

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

HYHG

HYHG Risk / Return Rank: 52
HYHG Sharpe Ratio Rank: 39
HYHG Sortino Ratio Rank: 39
HYHG Omega Ratio Rank: 38
HYHG Calmar Ratio Rank: 75
HYHG Martin Ratio Rank: 68

BSJQ

BSJQ Risk / Return Rank: 95
BSJQ Sharpe Ratio Rank: 92
BSJQ Sortino Ratio Rank: 95
BSJQ Omega Ratio Rank: 96
BSJQ Calmar Ratio Rank: 95
BSJQ Martin Ratio Rank: 97

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.

HYHG vs. BSJQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) and Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ). 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.

	HYHG	BSJQ	Difference
Sharpe ratio: Return per unit of total volatility	1.36	3.34	-1.98
Sortino ratio: Return per unit of downside risk	1.98	5.24	-3.26
Omega ratio: Gain probability vs. loss probability	1.24	1.76	-0.52
Calmar ratio: Return relative to maximum drawdown	3.74	8.55	-4.81
Martin ratio: Return relative to average drawdown	12.28	40.68	-28.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYHG vs. BSJQ - Sharpe Ratio Comparison

The current HYHG Sharpe Ratio is 1.36, which is lower than the BSJQ Sharpe Ratio of 3.34. The chart below compares the historical Sharpe Ratios of HYHG and BSJQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HYHG	BSJQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	3.34	-1.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.66	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.54	-0.08

Drawdowns

HYHG vs. BSJQ - Drawdown Comparison

The maximum HYHG drawdown since its inception was -25.71%, which is greater than BSJQ's maximum drawdown of -24.13%. Use the drawdown chart below to compare losses from any high point for HYHG and BSJQ.

Drawdown Indicators

	HYHG	BSJQ	Difference
Max Drawdown Largest peak-to-trough decline	-25.71%	-24.13%	-1.58%
Max Drawdown (1Y) Largest decline over 1 year	-2.02%	-0.54%	-1.48%
Max Drawdown (3Y) Largest decline over 3 years	-7.47%	-2.66%	-4.81%
Max Drawdown (5Y) Largest decline over 5 years	-9.21%	-11.95%	+2.74%
Max Drawdown (10Y) Largest decline over 10 years	-25.71%	—	—
Current Drawdown Current decline from peak	-0.32%	-0.39%	+0.07%
Average Drawdown Average peak-to-trough decline	-3.04%	-2.17%	-0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	0.11%	+0.50%

Volatility

HYHG vs. BSJQ - Volatility Comparison

ProShares High Yield-Interest Rate Hedged (HYHG) has a higher volatility of 1.42% compared to Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ) at 0.54%. This indicates that HYHG's price experiences larger fluctuations and is considered to be riskier than BSJQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYHG	BSJQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	0.54%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	4.30%	0.98%	+3.32%
Volatility (1Y) Calculated over the trailing 1-year period	5.56%	1.38%	+4.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.16%	5.73%	+2.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.15%	8.44%	+0.71%

HYHG vs. BSJQ - Expense Ratio Comparison

HYHG has a 0.50% expense ratio, which is higher than BSJQ's 0.42% expense ratio.

Dividends

HYHG vs. BSJQ - Dividend Comparison

HYHG's dividend yield for the trailing twelve months is around 6.78%, more than BSJQ's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSJQ Invesco BulletShares 2026 High Yield Corp Bond ETF	5.83%	6.10%	6.58%	6.58%	5.58%	4.27%	4.64%	4.59%	2.39%	0.00%	0.00%	0.00%
HYHG ProShares High Yield-Interest Rate Hedged	6.78%	6.97%	6.57%	6.07%	5.58%	4.54%	5.21%	6.06%	6.45%	5.57%	5.37%	6.37%

Frequently Asked Questions

Can I hold both HYHG and BSJQ in my portfolio?

HYHG and BSJQ have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYHG or BSJQ?

HYHG has higher volatility (1.42%) compared to BSJQ (0.54%). In terms of maximum drawdown, HYHG dropped -25.71% vs BSJQ's -24.13%.

Which ETF is better, HYHG or BSJQ?

On 5-year performance, HYHG leads with 6.99% vs 3.75% for BSJQ. On fees, BSJQ is cheaper at 0.42% per year. On volatility, BSJQ has been the lower-risk option at 0.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYHG or BSJQ?

Over the 5-year period, HYHG has performed better with a 6.99% return vs 3.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYHG or BSJQ?

BSJQ is cheaper with a 0.42% expense ratio, compared with 0.50% for HYHG.

Which ETF pays a higher dividend yield, HYHG or BSJQ?

HYHG has the higher dividend yield at 6.78%, compared with 5.83% for BSJQ.

What is the main difference between HYHG and BSJQ?

HYHG tracks Citi High Yield (Treasury Rate-Hedged) Index, while BSJQ tracks NASDAQ BulletShares USD High Yield Corporate Bond 2026 TR Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.50% for HYHG and 0.42% for BSJQ.

Which has better risk-adjusted returns?

BSJQ currently has the higher Sharpe Ratio (3.34 vs 1.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.