HYLS vs. FTSL
HYLS (First Trust Tactical High Yield ETF) and FTSL (First Trust Senior Loan Fund) are both High Yield Bonds funds from First Trust. Both are actively managed. Over the past 10 years, HYLS returned 4.44%/yr vs 4.45%/yr for FTSL. At a 0.43 correlation, their price movements are largely independent. HYLS charges 1.01%/yr vs 0.86%/yr for FTSL.
Performance
HYLS vs. FTSL - Performance Comparison
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Returns By Period
In the year-to-date period, HYLS achieves a 0.43% return, which is significantly lower than FTSL's 0.65% return. Both investments have delivered pretty close results over the past 10 years, with HYLS having a 4.44% annualized return and FTSL not far ahead at 4.45%.
HYLS
- 1D
- -0.02%
- 1M
- 0.42%
- YTD
- 0.43%
- 6M
- 0.59%
- 1Y
- 4.69%
- 3Y*
- 8.00%
- 5Y*
- 2.88%
- 10Y*
- 4.44%
FTSL
- 1D
- -0.01%
- 1M
- 0.20%
- YTD
- 0.65%
- 6M
- 0.65%
- 1Y
- 4.20%
- 3Y*
- 7.14%
- 5Y*
- 4.99%
- 10Y*
- 4.45%
HYLS vs. FTSL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYLS First Trust Tactical High Yield ETF | 0.43% | 8.00% | 5.85% | 13.66% | -12.83% | 3.69% | 5.32% | 14.66% | -2.46% | 6.39% |
FTSL First Trust Senior Loan Fund | 0.65% | 5.98% | 8.27% | 11.58% | -2.50% | 3.94% | 2.99% | 10.11% | -1.30% | 2.59% |
Correlation
The correlation between HYLS and FTSL is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since May 2, 2013 | 0.43 |
The correlation between HYLS and FTSL shifts across timeframes, from 0.43 (all time) to 0.55 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYLS vs. FTSL — Risk / Return Rank
HYLS
FTSL
HYLS vs. FTSL - 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 Senior Loan Fund (FTSL). 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 | FTSL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.45 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 1.81 | -0.29 |
| Martin ratioReturn relative to average drawdown | 6.46 | 6.72 | -0.26 |
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Drawdowns
HYLS vs. FTSL - Drawdown Comparison
The maximum HYLS drawdown since its inception was -22.99%, roughly equal to the maximum FTSL drawdown of -22.67%. Use the drawdown chart below to compare losses from any high point for HYLS and FTSL.
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Drawdown Indicators
| HYLS | FTSL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.99% | -22.67% | -0.32% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -2.33% | -0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -3.96% | -2.66% | -1.30% |
Max Drawdown (5Y)Largest decline over 5 years | -15.75% | -6.96% | -8.79% |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | -22.67% | -0.32% |
Current DrawdownCurrent decline from peak | -0.17% | -0.03% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -2.15% | -0.76% | -1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.63% | +0.10% |
Volatility
HYLS vs. FTSL - Volatility Comparison
First Trust Tactical High Yield ETF (HYLS) has a higher volatility of 0.85% compared to First Trust Senior Loan Fund (FTSL) at 0.33%. This indicates that HYLS's price experiences larger fluctuations and is considered to be riskier than FTSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLS | FTSL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 0.33% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 1.96% | +0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.54% | 2.12% | +1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | 3.35% | +3.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.70% | 5.19% | +1.51% |
HYLS vs. FTSL - Expense Ratio Comparison
HYLS has a 1.01% expense ratio, which is higher than FTSL's 0.86% expense ratio.
Dividends
HYLS vs. FTSL - Dividend Comparison
HYLS's dividend yield for the trailing twelve months is around 6.69%, more than FTSL's 6.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSL First Trust Senior Loan Fund | 6.46% | 6.59% | 7.56% | 7.59% | 4.77% | 3.17% | 3.48% | 4.44% | 4.29% | 3.64% | 3.70% | 3.95% |
HYLS First Trust Tactical High Yield ETF | 6.69% | 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 FTSL have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYLS has higher volatility (0.85%) compared to FTSL (0.33%). In terms of maximum drawdown, HYLS dropped -22.99% vs FTSL's -22.67%.
On 10-year performance, FTSL leads with 4.45% vs 4.44% for HYLS. On fees, FTSL is cheaper at 0.86% per year. On volatility, FTSL has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FTSL has performed better with a 4.45% return vs 4.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTSL is cheaper with a 0.86% expense ratio, compared with 1.01% for HYLS.
HYLS has the higher dividend yield at 6.69%, compared with 6.46% for FTSL.
Their fees differ too: 1.01% for HYLS and 0.86% for FTSL.
FTSL currently has the higher Sharpe Ratio (1.99 vs 1.33), 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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