HYHG vs. VGHY
HYHG (ProShares High Yield-Interest Rate Hedged) and VGHY (Vanguard High-Yield Active ETF) are both High Yield Bonds funds. HYHG is passively managed, while VGHY is actively managed. At a 0.37 correlation, their price movements are largely independent. HYHG charges 0.50%/yr vs 0.22%/yr for VGHY.
Performance
HYHG vs. VGHY - Performance Comparison
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Returns By Period
In the year-to-date period, HYHG achieves a 3.03% return, which is significantly higher than VGHY's 1.44% 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%
VGHY
- 1D
- 0.06%
- 1M
- 0.32%
- YTD
- 1.44%
- 6M
- 2.05%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYHG vs. VGHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 3.03% | 1.46% |
VGHY Vanguard High-Yield Active ETF | 1.44% | 1.80% |
Correlation
The correlation between HYHG and VGHY is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.37 |
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Return for Risk
HYHG vs. VGHY — Risk / Return Rank
HYHG
VGHY
HYHG vs. VGHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) and Vanguard High-Yield Active ETF (VGHY). 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 | VGHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.24 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | — | — |
| Martin ratioReturn relative to average drawdown | 12.28 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYHG | VGHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | — | — |
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 | 1.08 | -0.62 |
Drawdowns
HYHG vs. VGHY - Drawdown Comparison
The maximum HYHG drawdown since its inception was -25.71%, which is greater than VGHY's maximum drawdown of -2.66%. Use the drawdown chart below to compare losses from any high point for HYHG and VGHY.
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Drawdown Indicators
| HYHG | VGHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.71% | -2.66% | -23.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | — | — |
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 DrawdownCurrent decline from peak | -0.32% | -0.24% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -3.04% | -0.45% | -2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | — | — |
Volatility
HYHG vs. VGHY - Volatility Comparison
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Volatility by Period
| HYHG | VGHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 4.30% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.56% | 4.28% | +1.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.16% | 4.28% | +3.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.15% | 4.28% | +4.87% |
HYHG vs. VGHY - Expense Ratio Comparison
HYHG has a 0.50% expense ratio, which is higher than VGHY's 0.22% expense ratio.
Dividends
HYHG vs. VGHY - Dividend Comparison
HYHG's dividend yield for the trailing twelve months is around 6.78%, more than VGHY's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VGHY Vanguard High-Yield Active ETF | 3.98% | 1.49% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYHG and VGHY have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGHY is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGHY is cheaper with a 0.22% expense ratio, compared with 0.50% for HYHG.
HYHG has the higher dividend yield at 6.78%, compared with 3.98% for VGHY.
They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.50% for HYHG and 0.22% for VGHY.
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