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. Their 0.71 correlation means they have sometimes moved together and sometimes differently. 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 0.57% return, which is significantly lower than MHY's 5.89% return.
HYLS
- 1D
- -0.05%
- 1M
- -0.20%
- 6M
- 0.66%
- YTD
- 0.57%
- 1Y
- 3.86%
- 3Y*
- 7.28%
- 5Y*
- 2.88%
- 10Y*
- 4.19%
- ALL TIME*
- 4.23%
MHY
- 1D
- 0.17%
- 1M
- 1.08%
- 6M
- 4.61%
- YTD
- 5.89%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.90M | $12.15M | $7.99M | |
| $556.61K | $942.75K | $448.26K |
HYLS vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HYLS First Trust Tactical High Yield ETF | 0.57% | 1.32% |
MHY Man Active High Yield ETF | 5.89% | 1.54% |
Correlation
The correlation between HYLS and MHY is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.71 |
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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 | 1.21 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | — | — |
| Martin ratioReturn relative to average drawdown | 5.43 | — | — |
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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 | -0.47% | 0.00% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -2.13% | -0.26% | -1.87% |
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 | 0.75% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.50% | 2.91% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | 2.91% | +3.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.68% | 2.91% | +3.77% |
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 6.79%, more than MHY's 5.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYLS First Trust Tactical High Yield ETF | 6.79% | 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 | 5.21% | 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 0.71, 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 6.79%, compared with 5.21% 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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