HYLS vs. HYHG
Compare and contrast key facts about First Trust Tactical High Yield ETF (HYLS) and ProShares High Yield-Interest Rate Hedged (HYHG).
HYLS and HYHG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYLS is an actively managed fund by First Trust. It was launched on Feb 27, 2013. HYHG is a passively managed fund by ProShares that tracks the performance of the Citi High Yield (Treasury Rate-Hedged) Index. It was launched on May 21, 2013.
Performance
HYLS vs. HYHG - Performance Comparison
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HYLS vs. HYHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYLS First Trust Tactical High Yield ETF | -1.05% | 8.00% | 5.85% | 13.66% | -12.83% | 3.69% | 5.32% | 14.66% | -2.46% | 6.39% |
HYHG ProShares High Yield-Interest Rate Hedged | 0.77% | 5.31% | 11.41% | 14.69% | -1.71% | 5.75% | 0.16% | 12.02% | -1.95% | 3.76% |
Returns By Period
In the year-to-date period, HYLS achieves a -1.05% return, which is significantly lower than HYHG's 0.77% return. Over the past 10 years, HYLS has underperformed HYHG with an annualized return of 4.46%, while HYHG has yielded a comparatively higher 6.30% annualized return.
HYLS
- 1D
- 0.25%
- 1M
- 0.11%
- YTD
- -1.05%
- 6M
- 0.09%
- 1Y
- 5.63%
- 3Y*
- 7.38%
- 5Y*
- 2.75%
- 10Y*
- 4.46%
HYHG
- 1D
- 0.02%
- 1M
- 0.72%
- YTD
- 0.77%
- 6M
- 2.34%
- 1Y
- 6.89%
- 3Y*
- 9.60%
- 5Y*
- 6.54%
- 10Y*
- 6.30%
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HYLS vs. HYHG - Expense Ratio Comparison
HYLS has a 1.01% expense ratio, which is higher than HYHG's 0.50% expense ratio.
Return for Risk
HYLS vs. HYHG — Risk / Return Rank
HYLS
HYHG
HYLS vs. HYHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Tactical High Yield ETF (HYLS) and ProShares High Yield-Interest Rate Hedged (HYHG). 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 | HYHG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.19 | 0.86 | +0.33 |
Sortino ratioReturn per unit of downside risk | 1.77 | 1.29 | +0.48 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.18 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.69 | 1.77 | -0.07 |
Martin ratioReturn relative to average drawdown | 6.92 | 8.44 | -1.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYLS | HYHG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 0.86 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.81 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | 0.69 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.45 | +0.22 |
Correlation
The correlation between HYLS and HYHG is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
HYLS vs. HYHG - Dividend Comparison
HYLS's dividend yield for the trailing twelve months is around 6.66%, less than HYHG's 6.92% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYLS First Trust Tactical High Yield ETF | 6.66% | 6.38% | 6.25% | 5.98% | 7.38% | 5.48% | 5.09% | 5.17% | 5.81% | 5.53% | 5.37% | 6.11% |
HYHG ProShares High Yield-Interest Rate Hedged | 6.92% | 6.97% | 6.57% | 6.07% | 5.58% | 4.54% | 5.21% | 6.06% | 6.45% | 5.57% | 5.37% | 6.37% |
Drawdowns
HYLS vs. HYHG - Drawdown Comparison
The maximum HYLS drawdown since its inception was -22.99%, smaller than the maximum HYHG drawdown of -25.71%. Use the drawdown chart below to compare losses from any high point for HYLS and HYHG.
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Drawdown Indicators
| HYLS | HYHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.99% | -25.71% | +2.72% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -3.03% | -0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -15.75% | -9.21% | -6.54% |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | -25.71% | +2.72% |
Current DrawdownCurrent decline from peak | -1.52% | -0.55% | -0.97% |
Average DrawdownAverage peak-to-trough decline | -2.17% | -3.08% | +0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 0.89% | -0.08% |
Volatility
HYLS vs. HYHG - Volatility Comparison
The current volatility for First Trust Tactical High Yield ETF (HYLS) is 2.04%, while ProShares High Yield-Interest Rate Hedged (HYHG) has a volatility of 2.35%. This indicates that HYLS experiences smaller price fluctuations and is considered to be less risky than HYHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLS | HYHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.04% | 2.35% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 4.48% | -1.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.75% | 8.09% | -3.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.59% | 8.12% | -1.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 9.20% | -2.51% |