HYHG vs. IGHG
Compare and contrast key facts about ProShares High Yield-Interest Rate Hedged (HYHG) and ProShares Investment Grade-Interest Rate Hedged (IGHG).
HYHG and IGHG 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. IGHG is a passively managed fund by ProShares that tracks the performance of the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. It was launched on Nov 5, 2013. Both HYHG and IGHG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYHG or IGHG.
Key characteristics
| HYHG | IGHG | |
|---|---|---|
| YTD Return | 10.58% | 8.48% |
| 1Y Return | 14.22% | 10.87% |
| 3Y Return (Ann) | 7.84% | 6.09% |
| 5Y Return (Ann) | 6.30% | 4.64% |
| 10Y Return (Ann) | 4.40% | 3.75% |
| Sharpe Ratio | 2.53 | 2.58 |
| Sortino Ratio | 3.85 | 3.69 |
| Omega Ratio | 1.57 | 1.53 |
| Calmar Ratio | 4.42 | 4.12 |
| Martin Ratio | 22.73 | 19.87 |
| Ulcer Index | 0.62% | 0.55% |
| Daily Std Dev | 5.56% | 4.20% |
| Max Drawdown | -25.72% | -25.16% |
| Current Drawdown | -0.15% | 0.00% |
Correlation
The correlation between HYHG and IGHG is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
HYHG vs. IGHG - Performance Comparison
In the year-to-date period, HYHG achieves a 10.58% return, which is significantly higher than IGHG's 8.48% return. Over the past 10 years, HYHG has outperformed IGHG with an annualized return of 4.40%, while IGHG has yielded a comparatively lower 3.75% 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. IGHG - Expense Ratio Comparison
HYHG has a 0.50% expense ratio, which is higher than IGHG's 0.30% expense ratio.
Risk-Adjusted Performance
HYHG vs. IGHG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) and ProShares Investment Grade-Interest Rate Hedged (IGHG). 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. IGHG - Dividend Comparison
HYHG's dividend yield for the trailing twelve months is around 6.54%, more than IGHG's 5.06% 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% |
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.06% | 4.99% | 3.55% | 2.50% | 2.78% | 3.48% | 4.13% | 3.36% | 3.37% | 3.64% | 3.59% | 0.55% |
Drawdowns
HYHG vs. IGHG - Drawdown Comparison
The maximum HYHG drawdown since its inception was -25.72%, roughly equal to the maximum IGHG drawdown of -25.16%. Use the drawdown chart below to compare losses from any high point for HYHG and IGHG. For additional features, visit the drawdowns tool.
Volatility
HYHG vs. IGHG - Volatility Comparison
The current volatility for ProShares High Yield-Interest Rate Hedged (HYHG) is 1.03%, while ProShares Investment Grade-Interest Rate Hedged (IGHG) has a volatility of 1.88%. This indicates that HYHG experiences smaller price fluctuations and is considered to be less risky than IGHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.