HYLS vs. THY
HYLS (First Trust Tactical High Yield ETF) and THY (Agility Shares Dynamic Tactical Income ETF) are both High Yield Bonds funds. Both are actively managed. Over the past 5 years, HYLS returned 2.94%/yr vs 1.71%/yr for THY. A 0.63 correlation means they provide meaningful diversification when combined. HYLS charges 1.01%/yr vs 1.36%/yr for THY.
Performance
HYLS vs. THY - Performance Comparison
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Returns By Period
In the year-to-date period, HYLS achieves a 0.28% return, which is significantly lower than THY's 0.45% 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%
THY
- 1D
- -0.26%
- 1M
- -0.43%
- YTD
- 0.45%
- 6M
- 0.64%
- 1Y
- 4.31%
- 3Y*
- 5.21%
- 5Y*
- 1.71%
- 10Y*
- —
HYLS vs. THY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HYLS First Trust Tactical High Yield ETF | 0.28% | 8.00% | 5.85% | 13.66% | -12.83% | 3.69% | 8.14% |
THY Agility Shares Dynamic Tactical Income ETF | 0.45% | 4.44% | 5.38% | 4.97% | -5.62% | -0.46% | 4.04% |
Correlation
The correlation between HYLS and THY is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2020 | 0.63 |
The correlation between HYLS and THY has been stable across timeframes, ranging from 0.60 to 0.70 - a consistent structural relationship.
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Return for Risk
HYLS vs. THY — Risk / Return Rank
HYLS
THY
HYLS vs. THY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Tactical High Yield ETF (HYLS) and Agility Shares Dynamic Tactical Income ETF (THY). 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 | THY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.27 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.70 | -0.95 |
| Martin ratioReturn relative to average drawdown | 7.42 | 6.56 | +0.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYLS | THY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 1.46 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.38 | +0.07 |
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 | 0.48 | +0.20 |
Drawdowns
HYLS vs. THY - Drawdown Comparison
The maximum HYLS drawdown since its inception was -22.99%, which is greater than THY's maximum drawdown of -8.56%. Use the drawdown chart below to compare losses from any high point for HYLS and THY.
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Drawdown Indicators
| HYLS | THY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.99% | -8.56% | -14.43% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -1.60% | -1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -3.96% | -2.74% | -1.22% |
Max Drawdown (5Y)Largest decline over 5 years | -15.75% | -8.56% | -7.19% |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | — | — |
Current DrawdownCurrent decline from peak | -0.20% | -0.83% | +0.63% |
Average DrawdownAverage peak-to-trough decline | -2.15% | -2.61% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.66% | +0.07% |
Volatility
HYLS vs. THY - Volatility Comparison
First Trust Tactical High Yield ETF (HYLS) has a higher volatility of 1.16% compared to Agility Shares Dynamic Tactical Income ETF (THY) at 0.93%. This indicates that HYLS's price experiences larger fluctuations and is considered to be riskier than THY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLS | THY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.93% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 1.87% | +1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.51% | 2.97% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | 4.55% | +2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.70% | 4.48% | +2.22% |
HYLS vs. THY - Expense Ratio Comparison
HYLS has a 1.01% expense ratio, which is lower than THY's 1.36% expense ratio.
Dividends
HYLS vs. THY - Dividend Comparison
HYLS's dividend yield for the trailing twelve months is around 6.70%, more than THY's 5.40% 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% |
THY Agility Shares Dynamic Tactical Income ETF | 5.40% | 6.00% | 5.09% | 4.59% | 2.56% | 3.46% | 2.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYLS and THY have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYLS has higher volatility (1.16%) compared to THY (0.93%). In terms of maximum drawdown, HYLS dropped -22.99% vs THY's -8.56%.
On 5-year performance, HYLS leads with 2.94% vs 1.71% for THY. On fees, HYLS is cheaper at 1.01% per year. On volatility, THY has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYLS has performed better with a 2.94% return vs 1.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYLS is cheaper with a 1.01% expense ratio, compared with 1.36% for THY.
HYLS has the higher dividend yield at 6.70%, compared with 5.40% for THY.
They also come from different issuers: First Trust and Toews Corp.. Their fees differ too: 1.01% for HYLS and 1.36% for THY.
HYLS currently has the higher Sharpe Ratio (1.54 vs 1.46), 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.
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