HYHG vs. FXAIX
Compare and contrast key facts about ProShares High Yield-Interest Rate Hedged (HYHG) and Fidelity 500 Index Fund (FXAIX).
HYHG is a passively managed fund by ProShares that tracks the performance of the Citi High Yield (Treasury Rate-Hedged) Index. It was launched on May 21, 2013. FXAIX is managed by Fidelity.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYHG or FXAIX.
Key characteristics
| HYHG | FXAIX | |
|---|---|---|
| YTD Return | 4.12% | 6.64% |
| 1Y Return | 16.85% | 25.73% |
| 3Y Return (Ann) | 6.49% | 8.17% |
| 5Y Return (Ann) | 4.97% | 13.34% |
| 10Y Return (Ann) | 3.50% | 12.54% |
| Sharpe Ratio | 2.61 | 2.13 |
| Daily Std Dev | 6.34% | 11.67% |
| Max Drawdown | -25.71% | -33.79% |
| Current Drawdown | -0.08% | -3.54% |
Correlation
The correlation between HYHG and FXAIX is 0.55, 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
HYHG vs. FXAIX - Performance Comparison
In the year-to-date period, HYHG achieves a 4.12% return, which is significantly lower than FXAIX's 6.64% return. Over the past 10 years, HYHG has underperformed FXAIX with an annualized return of 3.50%, while FXAIX has yielded a comparatively higher 12.54% annualized 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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HYHG vs. FXAIX - Expense Ratio Comparison
HYHG has a 0.50% expense ratio, which is higher than FXAIX's 0.02% expense ratio.
Risk-Adjusted Performance
HYHG vs. FXAIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) and Fidelity 500 Index Fund (FXAIX). 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
HYHG vs. FXAIX - Dividend Comparison
HYHG's dividend yield for the trailing twelve months is around 6.37%, more than FXAIX's 1.37% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.37% | 6.07% | 5.58% | 4.54% | 5.21% | 6.06% | 6.45% | 5.57% | 5.37% | 6.37% | 5.51% | 3.02% |
FXAIX Fidelity 500 Index Fund | 1.37% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% | 2.63% | 1.84% |
Drawdowns
HYHG vs. FXAIX - Drawdown Comparison
The maximum HYHG drawdown since its inception was -25.71%, smaller than the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for HYHG and FXAIX. For additional features, visit the drawdowns tool.
Volatility
HYHG vs. FXAIX - Volatility Comparison
The current volatility for ProShares High Yield-Interest Rate Hedged (HYHG) is 1.12%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 4.04%. This indicates that HYHG experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.