HYLS vs. IBHE
HYLS (First Trust Tactical High Yield ETF) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both High Yield Bonds funds. HYLS is actively managed, while IBHE is passively managed. A 0.59 correlation means they provide meaningful diversification when combined. HYLS charges 1.01%/yr vs 0.35%/yr for IBHE.
Performance
HYLS vs. IBHE - Performance Comparison
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Returns By Period
HYLS
- 1D
- -0.15%
- 1M
- 0.07%
- 6M
- 0.21%
- YTD
- 0.50%
- 1Y
- 4.16%
- 3Y*
- 7.42%
- 5Y*
- 2.87%
- 10Y*
- 4.18%
IBHE
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYLS vs. IBHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HYLS First Trust Tactical High Yield ETF | 0.50% | 8.00% | 5.85% | 13.66% | -12.83% | 3.69% | 5.32% | 4.90% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 0.00% | 4.45% | 7.62% | 10.32% | -4.08% | 4.40% | 4.16% | 5.49% |
Correlation
The correlation between HYLS and IBHE is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since May 9, 2019 | 0.59 |
The correlation between HYLS and IBHE shifts across timeframes, from -0.00 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYLS vs. IBHE — Risk / Return Rank
HYLS
IBHE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYLS vs. IBHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Tactical High Yield ETF (HYLS) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). 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 | IBHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.23 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | — | — |
| Martin ratioReturn relative to average drawdown | 5.75 | — | — |
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Drawdowns
HYLS vs. IBHE - Drawdown Comparison
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Drawdown Indicators
| HYLS | IBHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.99% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.96% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | — | — |
Average DrawdownAverage peak-to-trough decline | -2.14% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | — | — |
Volatility
HYLS vs. IBHE - Volatility Comparison
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Volatility by Period
| HYLS | IBHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.47% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.68% | — | — |
HYLS vs. IBHE - Expense Ratio Comparison
HYLS has a 1.01% expense ratio, which is higher than IBHE's 0.35% expense ratio.
Dividends
HYLS vs. IBHE - Dividend Comparison
HYLS's dividend yield for the trailing twelve months is around 6.75%, while IBHE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYLS First Trust Tactical High Yield ETF | 6.75% | 6.38% | 6.25% | 5.98% | 7.38% | 5.48% | 5.09% | 5.17% | 5.81% | 5.53% | 5.37% | 6.11% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 1.87% | 4.53% | 6.92% | 7.17% | 5.77% | 4.84% | 5.74% | 3.73% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYLS and IBHE have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBHE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBHE is cheaper with a 0.35% expense ratio, compared with 1.01% for HYLS.
HYLS has the higher dividend yield at 6.75%, compared with 1.87% for IBHE.
They also come from different issuers: First Trust and iShares. Their fees differ too: 1.01% for HYLS and 0.35% for IBHE.
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