HYLS vs. AGG
HYLS (First Trust Tactical High Yield ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - HYLS is a High Yield Bonds fund actively managed by First Trust, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. HYLS is actively managed, while AGG is passively managed. Over the past 10 years, HYLS returned 4.19%/yr vs 1.37%/yr for AGG. Their 0.21 correlation means their historical movements had little consistent relationship. HYLS charges 1.01%/yr vs 0.03%/yr for AGG.
Performance
HYLS vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, HYLS achieves a 0.57% return, which is significantly higher than AGG's -0.56% return. Over the past 10 years, HYLS has outperformed AGG with an annualized return of 4.19%, while AGG has yielded a comparatively lower 1.37% annualized return.
HYLS
- 1D
- -0.05%
- 1M
- -0.20%
- 6M
- 0.66%
- YTD
- 0.57%
- 1Y
- 3.86%
- 3Y*
- 7.28%
- 5Y*
- 2.88%
- 10Y*
- 4.19%
- ALL TIME*
- 4.23%
AGG
- 1D
- -0.26%
- 1M
- -1.26%
- 6M
- -0.81%
- YTD
- -0.56%
- 1Y
- 1.83%
- 3Y*
- 3.95%
- 5Y*
- -0.40%
- 10Y*
- 1.37%
- ALL TIME*
- 3.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $763.20M | $778.44M | $807.34M | |
| $9.90M | $12.15M | $7.99M |
HYLS vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYLS First Trust Tactical High Yield ETF | 0.57% | 8.00% | 5.85% | 13.66% | -12.83% | 3.69% | 5.32% | 14.66% | -2.46% | 6.39% |
AGG iShares Core U.S. Aggregate Bond ETF | -0.56% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 0.09% | 3.55% |
Correlation
The correlation between HYLS and AGG is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.56 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.32 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2013 | 0.21 |
Over the past year, HYLS and AGG have become more correlated (0.56) than their long-term average of 0.21, meaning their price movements have been converging.
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Return for Risk
HYLS vs. AGG — Risk / Return Rank
HYLS
AGG
HYLS vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Tactical High Yield ETF (HYLS) and iShares Core U.S. Aggregate Bond ETF (AGG). 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.
| HYLS | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.12 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 0.99 | +0.30 |
| Martin ratioReturn relative to average drawdown | 5.43 | 2.49 | +2.93 |
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Drawdowns
HYLS vs. AGG - Drawdown Comparison
The maximum HYLS drawdown since its inception was -22.99%, which is greater than AGG's maximum drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for HYLS and AGG.
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Drawdown Indicators
| HYLS | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.99% | -18.43% | -4.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -2.76% | -0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -3.96% | -4.98% | +1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -15.75% | -17.82% | +2.07% |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | -18.43% | -4.56% |
Current DrawdownCurrent decline from peak | -0.47% | -2.94% | +2.47% |
Average DrawdownAverage peak-to-trough decline | -2.13% | -2.70% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 1.09% | -0.36% |
Volatility
HYLS vs. AGG - Volatility Comparison
The current volatility for First Trust Tactical High Yield ETF (HYLS) is 0.75%, while iShares Core U.S. Aggregate Bond ETF (AGG) has a volatility of 1.03%. This indicates that HYLS experiences smaller price fluctuations and is considered to be less risky than AGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLS | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 1.03% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 2.98% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.50% | 3.78% | -0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | 6.10% | +0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.68% | 5.41% | +1.27% |
HYLS vs. AGG - Expense Ratio Comparison
HYLS has a 1.01% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
HYLS vs. AGG - Dividend Comparison
HYLS's dividend yield for the trailing twelve months is around 6.79%, more than AGG's 4.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 3.71% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
HYLS First Trust Tactical High Yield ETF | 6.79% | 6.38% | 6.25% | 5.98% | 7.38% | 5.48% | 5.09% | 5.17% | 5.81% | 5.53% | 5.37% | 6.11% |
Frequently Asked Questions
HYLS and AGG have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGG has higher volatility (1.03%) compared to HYLS (0.75%). In terms of maximum drawdown, HYLS dropped -22.99% vs AGG's -18.43%.
On 10-year performance, HYLS leads with 4.19% vs 1.37% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, HYLS has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HYLS has performed better with a 4.19% return vs 1.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGG is cheaper with a 0.03% expense ratio, compared with 1.01% for HYLS.
HYLS has the higher dividend yield at 6.79%, compared with 3.71% for AGG.
HYLS is categorized as High Yield Bonds, while AGG is Total Bond Market. They also come from different issuers: First Trust and iShares. Their fees differ too: 1.01% for HYLS and 0.03% for AGG.
HYLS currently has the higher Sharpe Ratio (1.14 vs 0.72), 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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