HYLS vs. SCYB

Last updated Jun 4, 2026

HYLS (First Trust Tactical High Yield ETF) and SCYB (Schwab High Yield Bond ETF) are both High Yield Bonds funds. HYLS is actively managed, while SCYB is passively managed. Over the past year, HYLS returned 5.37% vs 6.99% for SCYB. Their correlation of 0.80 suggests significant overlap in exposure. HYLS charges 1.01%/yr vs 0.03%/yr for SCYB.

Performance

HYLS vs. SCYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Tactical High Yield ETF (HYLS) and Schwab High Yield Bond ETF (SCYB). 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 SCYB's 1.55% 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%

SCYB

• 1D: -0.29%
• 1M: 0.36%
• YTD: 1.55%
• 6M: 1.87%
• 1Y: 6.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYLS vs. SCYB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HYLS First Trust Tactical High Yield ETF	0.28%	8.00%	5.85%	8.69%
SCYB Schwab High Yield Bond ETF	1.55%	8.33%	8.15%	6.74%

Correlation

The correlation between HYLS and SCYB is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jul 12, 2023	0.80

The correlation between HYLS and SCYB has been stable across timeframes, ranging from 0.80 to 0.80 - a consistent structural relationship.

Return for Risk

HYLS vs. SCYB — 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

SCYB

SCYB Risk / Return Rank: 59
SCYB Sharpe Ratio Rank: 54
SCYB Sortino Ratio Rank: 58
SCYB Omega Ratio Rank: 59
SCYB Calmar Ratio Rank: 57
SCYB Martin Ratio Rank: 68

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. SCYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Tactical High Yield ETF (HYLS) and Schwab High Yield Bond ETF (SCYB). 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	SCYB	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.88	-0.34
Sortino ratio: Return per unit of downside risk	2.38	2.81	-0.43
Omega ratio: Gain probability vs. loss probability	1.29	1.37	-0.08
Calmar ratio: Return relative to maximum drawdown	1.74	2.87	-1.13
Martin ratio: Return relative to average drawdown	7.42	12.87	-5.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYLS vs. SCYB - Sharpe Ratio Comparison

The current HYLS Sharpe Ratio is 1.54, which is comparable to the SCYB Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of HYLS and SCYB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HYLS	SCYB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.88	-0.34
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	1.68	-1.00

Drawdowns

HYLS vs. SCYB - Drawdown Comparison

The maximum HYLS drawdown since its inception was -22.99%, which is greater than SCYB's maximum drawdown of -4.92%. Use the drawdown chart below to compare losses from any high point for HYLS and SCYB.

Drawdown Indicators

	HYLS	SCYB	Difference
Max Drawdown Largest peak-to-trough decline	-22.99%	-4.92%	-18.07%
Max Drawdown (1Y) Largest decline over 1 year	-3.09%	-2.44%	-0.65%
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%	-0.33%	+0.13%
Average Drawdown Average peak-to-trough decline	-2.15%	-0.52%	-1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	0.54%	+0.19%

Volatility

HYLS vs. SCYB - Volatility Comparison

First Trust Tactical High Yield ETF (HYLS) has a higher volatility of 1.16% compared to Schwab High Yield Bond ETF (SCYB) at 1.07%. This indicates that HYLS's price experiences larger fluctuations and is considered to be riskier than SCYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYLS	SCYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	1.07%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	2.93%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	3.51%	3.76%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.62%	5.13%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.70%	5.13%	+1.57%

HYLS vs. SCYB - Expense Ratio Comparison

HYLS has a 1.01% expense ratio, which is higher than SCYB's 0.03% expense ratio.

Dividends

HYLS vs. SCYB - Dividend Comparison

HYLS's dividend yield for the trailing twelve months is around 6.70%, less than SCYB's 6.94% 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%
SCYB Schwab High Yield Bond ETF	6.94%	6.99%	7.06%	3.36%	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 SCYB in my portfolio?

HYLS and SCYB have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYLS or SCYB?

HYLS has higher volatility (1.16%) compared to SCYB (1.07%). In terms of maximum drawdown, HYLS dropped -22.99% vs SCYB's -4.92%.

Which ETF is better, HYLS or SCYB?

On 1-year performance, SCYB leads with 6.99% vs 5.37% for HYLS. On fees, SCYB is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYLS or SCYB?

Over the 1-year period, SCYB has performed better with a 6.99% return vs 5.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYLS or SCYB?

SCYB is cheaper with a 0.03% expense ratio, compared with 1.01% for HYLS.

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

SCYB has the higher dividend yield at 6.94%, compared with 6.70% for HYLS.

What is the main difference between HYLS and SCYB?

They also come from different issuers: First Trust and Charles Schwab. Their fees differ too: 1.01% for HYLS and 0.03% for SCYB.

Which has better risk-adjusted returns?

SCYB currently has the higher Sharpe Ratio (1.88 vs 1.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.