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HYHG vs. LDRH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYHG vs. LDRH

Last updated Jun 5, 2026

HYHG (ProShares High Yield-Interest Rate Hedged) and LDRH (iShares iBonds 1-5 Year High Yield and Income Ladder ETF) are both High Yield Bonds funds - HYHG tracks the Citi High Yield (Treasury Rate-Hedged) Index while LDRH tracks the BlackRock iBonds 1-5 Year High Yield and Income Ladder Index. Both are passively managed. Over the past year, HYHG returned 7.52% vs 6.30% for LDRH. At a 0.37 correlation, their price movements are largely independent. HYHG charges 0.50%/yr vs 0.35%/yr for LDRH.

Performance

HYHG vs. LDRH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares High Yield-Interest Rate Hedged (HYHG) and iShares iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HYHG achieves a 3.03% return, which is significantly higher than LDRH's 1.88% 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%

LDRH

1D
0.08%
1M
0.29%
YTD
1.88%
6M
2.45%
1Y
6.30%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYHG vs. LDRH - Yearly Performance Comparison

2026 (YTD)20252024
HYHG
ProShares High Yield-Interest Rate Hedged		3.03%5.31%0.60%
LDRH
iShares iBonds 1-5 Year High Yield and Income Ladder ETF		1.88%7.18%0.21%

Correlation

The correlation between HYHG and LDRH is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Nov 11, 2024

0.37

HYHG vs. LDRH - Sectors Allocation Comparison

Sectors
HYHG
LDRH

Communication Services

1.1%

-

Healthcare

0.6%

-

Basic Materials

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

100.0%

Financial Services

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Communication Services

HYHG
1.1%
LDRH

-

Healthcare

HYHG
0.6%
LDRH

-

Basic Materials

HYHG

-

LDRH

-

Consumer Cyclical

HYHG

-

LDRH

-

Consumer Defensive

HYHG

-

LDRH

-

Energy

HYHG

-

LDRH
100.0%

Financial Services

HYHG

-

LDRH

-

Industrials

HYHG

-

LDRH

-

Real Estate

HYHG

-

LDRH

-

Technology

HYHG

-

LDRH

-

Utilities

HYHG

-

LDRH

-

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ProShares High Yield-Interest Rate Hedged

iShares iBonds 1-5 Year High Yield and Income Ladder ETF

Often compared with HYHG:
HYHG vs. HYGHHYHG vs. HYGHYHG vs. IGHGHYHG vs. SCHDHYHG vs. EIFAXHYHG vs. AOHYHYHG vs. PDI
Often compared with LDRH:
LDRH vs. IBHELDRH vs. HYBLLDRH vs. SPHYLDRH vs. HYSLDRH vs. VGHYLDRH vs. IBHGLDRH vs. XHYF

Return for Risk

HYHG vs. LDRH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYHG
HYHG Risk / Return Rank: 5252
Overall Rank
HYHG Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
HYHG Sortino Ratio Rank: 3939
Sortino Ratio Rank
HYHG Omega Ratio Rank: 3838
Omega Ratio Rank
HYHG Calmar Ratio Rank: 7575
Calmar Ratio Rank
HYHG Martin Ratio Rank: 6868
Martin Ratio Rank
LDRH
LDRH Risk / Return Rank: 8585
Overall Rank
LDRH Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
LDRH Sortino Ratio Rank: 8888
Sortino Ratio Rank
LDRH Omega Ratio Rank: 8181
Omega Ratio Rank
LDRH Calmar Ratio Rank: 8888
Calmar Ratio Rank
LDRH Martin Ratio Rank: 9191
Martin Ratio Rank
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. LDRH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) and iShares iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH). 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.

HYHGLDRHDifference
Sharpe ratioReturn per unit of total volatility
1.36
2.43

-1.07

Sortino ratioReturn per unit of downside risk
1.98
3.92

-1.94

Omega ratioGain probability vs. loss probability

1.24

1.48

-0.23

Calmar ratioReturn relative to maximum drawdown

3.74

5.14

-1.40

Martin ratioReturn relative to average drawdown

12.28

21.43

-9.14

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. LDRH - Sharpe Ratio Comparison

The current HYHG Sharpe Ratio is 1.36, which is lower than the LDRH Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of HYHG and LDRH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

HYHGLDRHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.36

2.43

-1.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.86

—

—

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

1.70

-1.24

Drawdowns

HYHG vs. LDRH - Drawdown Comparison

The maximum HYHG drawdown since its inception was -25.71%, which is greater than LDRH's maximum drawdown of -3.17%. Use the drawdown chart below to compare losses from any high point for HYHG and LDRH.

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Drawdown Indicators

HYHGLDRHDifference

Max Drawdown

Largest peak-to-trough decline

-25.71%

-3.17%

-22.54%

Max Drawdown (1Y)

Largest decline over 1 year

-2.02%

-1.23%

-0.79%

Max Drawdown (3Y)

Largest decline over 3 years

-7.47%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-9.21%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-25.71%

—

—

Current Drawdown

Current decline from peak

-0.32%

-0.12%

-0.20%

Average Drawdown

Average peak-to-trough decline

-3.04%

-0.24%

-2.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.61%

0.30%

+0.31%

Volatility

HYHG vs. LDRH - Volatility Comparison

ProShares High Yield-Interest Rate Hedged (HYHG) has a higher volatility of 1.42% compared to iShares iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH) at 0.69%. This indicates that HYHG's price experiences larger fluctuations and is considered to be riskier than LDRH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HYHGLDRHDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.42%

0.69%

+0.73%

Volatility (6M)

Calculated over the trailing 6-month period

4.30%

1.97%

+2.33%

Volatility (1Y)

Calculated over the trailing 1-year period

5.56%

2.61%

+2.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.16%

3.51%

+4.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.15%

3.51%

+5.64%

HYHG vs. LDRH - Expense Ratio Comparison

HYHG has a 0.50% expense ratio, which is higher than LDRH's 0.35% expense ratio.

Dividends

HYHG vs. LDRH - Dividend Comparison

HYHG's dividend yield for the trailing twelve months is around 6.78%, less than LDRH's 6.99% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
LDRH
iShares iBonds 1-5 Year High Yield and Income Ladder ETF		6.99%6.41%1.13%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HYHG and LDRH have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HYHG has higher volatility (1.42%) compared to LDRH (0.69%). In terms of maximum drawdown, HYHG dropped -25.71% vs LDRH's -3.17%.

On 1-year performance, HYHG leads with 7.52% vs 6.30% for LDRH. On fees, LDRH is cheaper at 0.35% per year. On volatility, LDRH has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, HYHG has performed better with a 7.52% return vs 6.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

LDRH is cheaper with a 0.35% expense ratio, compared with 0.50% for HYHG.

LDRH has the higher dividend yield at 6.99%, compared with 6.78% for HYHG.

HYHG tracks Citi High Yield (Treasury Rate-Hedged) Index, while LDRH tracks BlackRock iBonds 1-5 Year High Yield and Income Ladder Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.50% for HYHG and 0.35% for LDRH.

LDRH currently has the higher Sharpe Ratio (2.43 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.

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