HYHG vs. HYGH
Compare and contrast key facts about ProShares High Yield-Interest Rate Hedged (HYHG) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH).
HYHG and HYGH 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. HYGH is an actively managed fund by iShares. It was launched on May 27, 2014.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYHG or HYGH.
Key characteristics
| HYHG | HYGH | |
|---|---|---|
| YTD Return | 10.55% | 10.40% |
| 1Y Return | 11.65% | 13.16% |
| 3Y Return (Ann) | 7.82% | 7.43% |
| 5Y Return (Ann) | 6.24% | 5.95% |
| 10Y Return (Ann) | 4.39% | 4.86% |
| Sharpe Ratio | 2.55 | 2.99 |
| Sortino Ratio | 3.88 | 4.15 |
| Omega Ratio | 1.58 | 1.67 |
| Calmar Ratio | 4.46 | 3.70 |
| Martin Ratio | 22.91 | 29.69 |
| Ulcer Index | 0.62% | 0.47% |
| Daily Std Dev | 5.55% | 4.62% |
| Max Drawdown | -25.72% | -23.88% |
| Current Drawdown | -0.18% | -0.29% |
Correlation
The correlation between HYHG and HYGH is 0.65, 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. HYGH - Performance Comparison
The year-to-date returns for both stocks are quite close, with HYHG having a 10.55% return and HYGH slightly lower at 10.40%. Over the past 10 years, HYHG has underperformed HYGH with an annualized return of 4.39%, while HYGH has yielded a comparatively higher 4.86% 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. HYGH - Expense Ratio Comparison
HYHG has a 0.50% expense ratio, which is lower than HYGH's 0.53% expense ratio.
Risk-Adjusted Performance
HYHG vs. HYGH - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH). 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. HYGH - Dividend Comparison
HYHG's dividend yield for the trailing twelve months is around 6.54%, less than HYGH's 8.18% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.54% | 6.06% | 5.58% | 4.54% | 5.20% | 6.07% | 6.45% | 5.57% | 5.37% | 6.37% | 5.51% | 3.02% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 8.18% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.59% | 5.74% | 3.62% | 0.00% |
Drawdowns
HYHG vs. HYGH - Drawdown Comparison
The maximum HYHG drawdown since its inception was -25.72%, which is greater than HYGH's maximum drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for HYHG and HYGH. For additional features, visit the drawdowns tool.
Volatility
HYHG vs. HYGH - Volatility Comparison
ProShares High Yield-Interest Rate Hedged (HYHG) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH) have volatilities of 1.04% and 1.03%, 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.