HYLS vs. AIRR
HYLS (First Trust Tactical High Yield ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - HYLS is a High Yield Bonds fund actively managed by First Trust, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance (TR). HYLS is actively managed, while AIRR is passively managed. Over the past 10 years, HYLS returned 4.35%/yr vs 21.89%/yr for AIRR. At a 0.46 correlation, their price movements are largely independent. HYLS charges 1.01%/yr vs 0.70%/yr for AIRR.
Performance
HYLS vs. AIRR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HYLS achieves a 0.28% return, which is significantly lower than AIRR's 31.77% return. Over the past 10 years, HYLS has underperformed AIRR with an annualized return of 4.35%, while AIRR has yielded a comparatively higher 21.89% annualized return.
HYLS
- 1D
- -0.17%
- 1M
- 0.39%
- YTD
- 0.28%
- 6M
- 0.70%
- 1Y
- 5.37%
- 3Y*
- 7.73%
- 5Y*
- 2.94%
- 10Y*
- 4.35%
AIRR
- 1D
- 0.54%
- 1M
- 3.36%
- YTD
- 31.77%
- 6M
- 31.32%
- 1Y
- 65.82%
- 3Y*
- 37.10%
- 5Y*
- 25.40%
- 10Y*
- 21.89%
HYLS vs. AIRR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYLS First Trust Tactical High Yield ETF | 0.28% | 8.00% | 5.85% | 13.66% | -12.83% | 3.69% | 5.32% | 14.66% | -2.46% | 6.39% |
AIRR First Trust RBA American Industrial Renaissance ETF | 31.77% | 27.92% | 33.45% | 31.43% | -2.08% | 33.01% | 17.17% | 33.97% | -20.57% | 16.28% |
Correlation
The correlation between HYLS and AIRR is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 2014 | 0.46 |
The correlation between HYLS and AIRR has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HYLS vs. AIRR — Risk / Return Rank
HYLS
AIRR
HYLS vs. AIRR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Tactical High Yield ETF (HYLS) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.
| HYLS | AIRR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.41 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 5.05 | -3.31 |
| Martin ratioReturn relative to average drawdown | 7.42 | 18.68 | -11.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HYLS | AIRR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 2.61 | -1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 1.01 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | 0.84 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.67 | +0.01 |
Drawdowns
HYLS vs. AIRR - Drawdown Comparison
The maximum HYLS drawdown since its inception was -22.99%, smaller than the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for HYLS and AIRR.
Loading charts...
Drawdown Indicators
| HYLS | AIRR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.99% | -42.37% | +19.38% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -13.09% | +10.00% |
Max Drawdown (3Y)Largest decline over 3 years | -3.96% | -27.95% | +23.99% |
Max Drawdown (5Y)Largest decline over 5 years | -15.75% | -27.95% | +12.20% |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | -42.37% | +19.38% |
Current DrawdownCurrent decline from peak | -0.20% | -1.86% | +1.66% |
Average DrawdownAverage peak-to-trough decline | -2.15% | -7.43% | +5.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 3.53% | -2.80% |
Volatility
HYLS vs. AIRR - Volatility Comparison
The current volatility for First Trust Tactical High Yield ETF (HYLS) is 1.16%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 7.87%. This indicates that HYLS experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HYLS | AIRR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 7.87% | -6.71% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 19.82% | -16.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.51% | 25.40% | -21.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | 25.29% | -18.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.70% | 26.29% | -19.59% |
HYLS vs. AIRR - Expense Ratio Comparison
HYLS has a 1.01% expense ratio, which is higher than AIRR's 0.70% expense ratio.
Dividends
HYLS vs. AIRR - Dividend Comparison
HYLS's dividend yield for the trailing twelve months is around 6.70%, more than AIRR's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 0.13% | 0.19% | 0.18% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% |
HYLS First Trust Tactical High Yield ETF | 6.70% | 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 AIRR have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIRR has higher volatility (7.87%) compared to HYLS (1.16%). In terms of maximum drawdown, HYLS dropped -22.99% vs AIRR's -42.37%.
On 10-year performance, AIRR leads with 21.89% vs 4.35% for HYLS. On fees, AIRR is cheaper at 0.70% per year. On volatility, HYLS has been the lower-risk option at 1.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, AIRR has performed better with a 21.89% return vs 4.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AIRR is cheaper with a 0.70% expense ratio, compared with 1.01% for HYLS.
HYLS has the higher dividend yield at 6.70%, compared with 0.13% for AIRR.
HYLS is categorized as High Yield Bonds, while AIRR is Building & Construction. Their fees differ too: 1.01% for HYLS and 0.70% for AIRR.
AIRR currently has the higher Sharpe Ratio (2.61 vs 1.54), 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.
Find the right allocation for HYLS and AIRR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer