HYLS vs. MHY
HYLS (First Trust Tactical High Yield ETF) and MHY (Man Active High Yield 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 0.69%/yr for MHY.
Performance
HYLS vs. MHY - Performance Comparison
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Returns By Period
In the year-to-date period, HYLS achieves a 0.40% return, which is significantly lower than MHY's 3.85% return.
HYLS
- 1D
- 0.16%
- 1M
- 0.46%
- YTD
- 0.40%
- 6M
- 0.76%
- 1Y
- 4.96%
- 3Y*
- 7.62%
- 5Y*
- 2.94%
- 10Y*
- 4.41%
MHY
- 1D
- 0.31%
- 1M
- 1.46%
- YTD
- 3.85%
- 6M
- 4.04%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYLS vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HYLS First Trust Tactical High Yield ETF | 0.40% | 1.32% |
MHY Man Active High Yield ETF | 3.85% | 1.54% |
Correlation
The correlation between HYLS and MHY 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 Sep 18, 2025 | 0.75 |
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Return for Risk
HYLS vs. MHY — Risk / Return Rank
HYLS
MHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYLS vs. MHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Tactical High Yield ETF (HYLS) and Man Active High Yield ETF (MHY). 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 | MHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.27 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | — | — |
| Martin ratioReturn relative to average drawdown | 6.91 | — | — |
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Drawdowns
HYLS vs. MHY - Drawdown Comparison
The maximum HYLS drawdown since its inception was -22.99%, which is greater than MHY's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for HYLS and MHY.
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Drawdown Indicators
| HYLS | MHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.99% | -1.58% | -21.41% |
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 | -0.19% | 0.00% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -2.15% | -0.29% | -1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | — | — |
Volatility
HYLS vs. MHY - Volatility Comparison
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Volatility by Period
| HYLS | MHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.55% | 2.99% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | 2.99% | +3.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.70% | 2.99% | +3.71% |
HYLS vs. MHY - Expense Ratio Comparison
HYLS has a 1.01% expense ratio, which is higher than MHY's 0.69% expense ratio.
Dividends
HYLS vs. MHY - Dividend Comparison
HYLS's dividend yield for the trailing twelve months is around 6.70%, more than MHY's 3.56% 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% |
MHY Man Active High Yield ETF | 3.56% | 3.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYLS and MHY 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.
On fees, MHY is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MHY is cheaper with a 0.69% expense ratio, compared with 1.01% for HYLS.
HYLS has the higher dividend yield at 6.70%, compared with 3.56% for MHY.
They also come from different issuers: First Trust and Man Group. Their fees differ too: 1.01% for HYLS and 0.69% for MHY.
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