HYHG vs. HYG
Compare and contrast key facts about ProShares High Yield-Interest Rate Hedged (HYHG) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG).
HYHG and HYG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. HYG is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid High Yield Index. It was launched on Apr 11, 2007. Both HYHG and HYG 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
HYHG vs. HYG - Performance Comparison
Loading graphics...
HYHG vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 0.76% | 5.31% | 11.41% | 14.69% | -1.71% | 5.75% | 0.16% | 12.02% | -1.95% | 3.76% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | -0.11% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
Returns By Period
In the year-to-date period, HYHG achieves a 0.76% return, which is significantly higher than HYG's -0.11% return. Over the past 10 years, HYHG has outperformed HYG with an annualized return of 6.25%, while HYG has yielded a comparatively lower 5.16% annualized return.
HYHG
- 1D
- 0.75%
- 1M
- 0.37%
- YTD
- 0.76%
- 6M
- 2.21%
- 1Y
- 7.49%
- 3Y*
- 9.53%
- 5Y*
- 6.54%
- 10Y*
- 6.25%
HYG
- 1D
- 0.24%
- 1M
- -0.65%
- YTD
- -0.11%
- 6M
- 0.93%
- 1Y
- 6.91%
- 3Y*
- 7.99%
- 5Y*
- 3.66%
- 10Y*
- 5.16%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
HYHG vs. HYG - Expense Ratio Comparison
HYHG has a 0.50% expense ratio, which is higher than HYG's 0.49% expense ratio.
Return for Risk
HYHG vs. HYG — Risk / Return Rank
HYHG
HYG
HYHG vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) 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.
| HYHG | HYG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 1.25 | -0.32 |
Sortino ratioReturn per unit of downside risk | 1.40 | 1.87 | -0.47 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.29 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.74 | 1.82 | -0.08 |
Martin ratioReturn relative to average drawdown | 8.32 | 9.57 | -1.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| HYHG | HYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 1.25 | -0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 0.49 | +0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.62 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.45 | 0.00 |
Correlation
The correlation between HYHG and HYG 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.
Dividends
HYHG vs. HYG - Dividend Comparison
HYHG's dividend yield for the trailing twelve months is around 6.92%, more than HYG's 5.88% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.92% | 6.97% | 6.57% | 6.07% | 5.58% | 4.54% | 5.21% | 6.06% | 6.45% | 5.57% | 5.37% | 6.37% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.88% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
Drawdowns
HYHG vs. HYG - Drawdown Comparison
The maximum HYHG drawdown since its inception was -25.71%, smaller than the maximum HYG drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for HYHG and HYG.
Loading graphics...
Drawdown Indicators
| HYHG | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.71% | -34.25% | +8.54% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -3.93% | -0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -9.21% | -15.79% | +6.58% |
Max Drawdown (10Y)Largest decline over 10 years | -25.71% | -22.03% | -3.68% |
Current DrawdownCurrent decline from peak | -0.57% | -1.05% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -3.27% | +0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.75% | +0.14% |
Volatility
HYHG vs. HYG - Volatility Comparison
ProShares High Yield-Interest Rate Hedged (HYHG) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG) have volatilities of 2.37% and 2.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| HYHG | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 2.30% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 2.93% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.09% | 5.57% | +2.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.12% | 7.51% | +0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.20% | 8.31% | +0.89% |