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. Their 0.32 correlation means their historical movements had little consistent relationship. 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 4.22% return, which is significantly higher than VGHY's 2.21% return.
HYHG
- 1D
- -0.17%
- 1M
- 0.39%
- 6M
- 2.85%
- YTD
- 4.22%
- 1Y
- 7.49%
- 3Y*
- 9.01%
- 5Y*
- 7.24%
- 10Y*
- 5.95%
- ALL TIME*
- 4.27%
VGHY
- 1D
- 0.36%
- 1M
- 0.23%
- 6M
- 1.62%
- YTD
- 2.21%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.51M | $1.78M | $1.26M | |
| $3.42M | $3.16M | $3.75M |
HYHG vs. VGHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 4.22% | 1.67% |
VGHY Vanguard High-Yield Active ETF | 2.21% | 1.77% |
Correlation
The correlation between HYHG and VGHY is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 17, 2025 | 0.32 |
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Return for Risk
HYHG vs. VGHY — Risk / Return Rank
HYHG
VGHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| 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 | 3.72 | — | — |
| Martin ratioReturn relative to average drawdown | 12.44 | — | — |
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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 | -0.17% | 0.00% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -3.01% | -0.41% | -2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | — | — |
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 | 1.34% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.97% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.58% | 4.05% | +1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.17% | 4.05% | +4.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.06% | 4.05% | +5.01% |
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 6.69%, more than VGHY's 5.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.69% | 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 | 5.02% | 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 0.32, 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 6.69%, compared with 5.02% 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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