HYLS vs. BBHY
HYLS (First Trust Tactical High Yield ETF) and BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. HYLS is actively managed, while BBHY is passively managed. Over the past 5 years, HYLS returned 2.88%/yr vs 3.87%/yr for BBHY. Their 0.73 correlation means they have sometimes moved together and sometimes differently. HYLS charges 1.01%/yr vs 0.15%/yr for BBHY.
Performance
HYLS vs. BBHY - Performance Comparison
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Returns By Period
In the year-to-date period, HYLS achieves a 0.57% return, which is significantly lower than BBHY's 1.83% 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%
BBHY
- 1D
- 0.01%
- 1M
- -0.40%
- 6M
- 1.11%
- YTD
- 1.83%
- 1Y
- 5.38%
- 3Y*
- 8.17%
- 5Y*
- 3.87%
- 10Y*
- —
- ALL TIME*
- 4.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.97M | $3.01M | $2.95M | |
| $9.90M | $12.15M | $7.99M |
HYLS vs. BBHY - 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% |
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 1.83% | 8.51% | 7.81% | 11.98% | -10.37% | 3.88% | 5.36% | 14.35% | -2.50% | 6.57% |
Correlation
The correlation between HYLS and BBHY is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016 | 0.73 |
The correlation between HYLS and BBHY shifts across timeframes, from 0.73 (all time) to 0.84 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HYLS vs. BBHY — Risk / Return Rank
HYLS
BBHY
HYLS vs. BBHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Tactical High Yield ETF (HYLS) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). 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 | BBHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.29 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 2.28 | -1.00 |
| Martin ratioReturn relative to average drawdown | 5.43 | 9.97 | -4.54 |
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Drawdowns
HYLS vs. BBHY - Drawdown Comparison
The maximum HYLS drawdown since its inception was -22.99%, smaller than the maximum BBHY drawdown of -24.98%. Use the drawdown chart below to compare losses from any high point for HYLS and BBHY.
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Drawdown Indicators
| HYLS | BBHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.99% | -24.98% | +1.99% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -2.37% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -3.96% | -5.00% | +1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -15.75% | -15.32% | -0.43% |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | — | — |
Current DrawdownCurrent decline from peak | -0.47% | -0.54% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -2.13% | -2.34% | +0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.54% | +0.19% |
Volatility
HYLS vs. BBHY - Volatility Comparison
The current volatility for First Trust Tactical High Yield ETF (HYLS) is 0.75%, while JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) has a volatility of 0.84%. This indicates that HYLS experiences smaller price fluctuations and is considered to be less risky than BBHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLS | BBHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 0.84% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 3.01% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.50% | 3.65% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | 7.27% | -0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.68% | 7.48% | -0.80% |
HYLS vs. BBHY - Expense Ratio Comparison
HYLS has a 1.01% expense ratio, which is higher than BBHY's 0.15% expense ratio.
Dividends
HYLS vs. BBHY - Dividend Comparison
HYLS's dividend yield for the trailing twelve months is around 6.79%, less than BBHY's 7.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 6.50% | 7.24% | 7.18% | 6.49% | 5.92% | 4.06% | 4.73% | 4.99% | 5.02% | 4.81% | 1.42% | 0.00% |
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 BBHY have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BBHY has higher volatility (0.84%) compared to HYLS (0.75%). In terms of maximum drawdown, HYLS dropped -22.99% vs BBHY's -24.98%.
On 5-year performance, BBHY leads with 3.87% vs 2.88% for HYLS. On fees, BBHY is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBHY has performed better with a 3.87% return vs 2.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBHY is cheaper with a 0.15% expense ratio, compared with 1.01% for HYLS.
HYLS has the higher dividend yield at 6.79%, compared with 6.50% for BBHY.
They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 1.01% for HYLS and 0.15% for BBHY.
BBHY currently has the higher Sharpe Ratio (1.49 vs 1.14), 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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