HYLS vs. JPHY

Last updated Jun 4, 2026

HYLS (First Trust Tactical High Yield ETF) and JPHY (JPMorgan High Yield Research Enhanced ETF) are both High Yield Bonds funds. Both are actively managed. A 0.75 correlation means they provide meaningful diversification when combined. HYLS charges 1.01%/yr vs 0.24%/yr for JPHY.

Performance

HYLS vs. JPHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Tactical High Yield ETF (HYLS) and JPMorgan High Yield Research Enhanced ETF (JPHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYLS achieves a 0.28% return, which is significantly lower than JPHY's 2.07% 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%

JPHY

• 1D: -0.09%
• 1M: 0.44%
• YTD: 2.07%
• 6M: 2.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HYLS vs. JPHY - Yearly Performance Comparison

	2026 (YTD)	2025
HYLS First Trust Tactical High Yield ETF	0.28%	3.99%
JPHY JPMorgan High Yield Research Enhanced ETF	2.07%	4.00%

Correlation

The correlation between HYLS and JPHY is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.75

Return for Risk

HYLS vs. JPHY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYLS

HYLS Risk / Return Rank: 44
HYLS Sharpe Ratio Rank: 44
HYLS Sortino Ratio Rank: 48
HYLS Omega Ratio Rank: 46
HYLS Calmar Ratio Rank: 35
HYLS Martin Ratio Rank: 45

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HYLS vs. JPHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Tactical High Yield ETF (HYLS) and JPMorgan High Yield Research Enhanced ETF (JPHY). 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	JPHY	Difference
Sharpe ratio Return per unit of total volatility	1.54	—	—
Sortino ratio Return per unit of downside risk	2.38	—	—
Omega ratio Gain probability vs. loss probability	1.29	—	—
Calmar ratio Return relative to maximum drawdown	1.74	—	—
Martin ratio Return relative to average drawdown	7.42	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HYLS	JPHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	2.17	-1.49

Drawdowns

HYLS vs. JPHY - Drawdown Comparison

The maximum HYLS drawdown since its inception was -22.99%, which is greater than JPHY's maximum drawdown of -1.65%. Use the drawdown chart below to compare losses from any high point for HYLS and JPHY.

Drawdown Indicators

	HYLS	JPHY	Difference
Max Drawdown Largest peak-to-trough decline	-22.99%	-1.65%	-21.34%
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 Drawdown Current decline from peak	-0.20%	-0.09%	-0.11%
Average Drawdown Average peak-to-trough decline	-2.15%	-0.21%	-1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	—	—

Volatility

Volatility by Period

	HYLS	JPHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.90%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.51%	3.04%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.62%	3.04%	+3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.70%	3.04%	+3.66%

HYLS vs. JPHY - Expense Ratio Comparison

HYLS has a 1.01% expense ratio, which is higher than JPHY's 0.24% expense ratio.

Dividends

HYLS vs. JPHY - Dividend Comparison

HYLS's dividend yield for the trailing twelve months is around 6.70%, more than JPHY's 5.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
JPHY JPMorgan High Yield Research Enhanced ETF	5.92%	3.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYLS and JPHY in my portfolio?

HYLS and JPHY have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYLS or JPHY?

On fees, JPHY is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYLS or JPHY?

JPHY is cheaper with a 0.24% expense ratio, compared with 1.01% for HYLS.

Which ETF pays a higher dividend yield, HYLS or JPHY?

HYLS has the higher dividend yield at 6.70%, compared with 5.92% for JPHY.

What is the main difference between HYLS and JPHY?

They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 1.01% for HYLS and 0.24% for JPHY.