HYRM vs. BBHY

Last updated Jun 3, 2026

HYRM (Xtrackers Risk Managed USD High Yield Strategy ETF) and BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - HYRM tracks the Adaptive Wealth Strategies Risk Managed High Yield Index - USD - US Dollar - Benchmark TR Net while BBHY tracks the ICE BofA US High Yield Index. Both are passively managed. Over the past 3 years, HYRM returned 7.86%/yr vs 8.70%/yr for BBHY. Their correlation of 0.94 suggests significant overlap in exposure. HYRM charges 0.30%/yr vs 0.15%/yr for BBHY.

Performance

HYRM vs. BBHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYRM achieves a 1.50% return, which is significantly lower than BBHY's 1.82% return.

HYRM

• 1D: 0.04%
• 1M: 0.17%
• YTD: 1.50%
• 6M: 2.05%
• 1Y: 6.83%
• 3Y*: 7.86%
• 5Y*: —
• 10Y*: —

BBHY

• 1D: 0.09%
• 1M: 0.40%
• YTD: 1.82%
• 6M: 2.35%
• 1Y: 7.52%
• 3Y*: 8.70%
• 5Y*: 4.17%
• 10Y*: —

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

HYRM vs. BBHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HYRM Xtrackers Risk Managed USD High Yield Strategy ETF	1.50%	5.98%	7.81%	11.98%	-7.10%
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	1.82%	8.51%	7.81%	11.98%	-6.31%

Correlation

The correlation between HYRM and BBHY is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Feb 11, 2022	0.94

The correlation between HYRM and BBHY has been stable across timeframes, ranging from 0.84 to 0.94 - a consistent structural relationship.

HYRM vs. BBHY - Sectors Allocation Comparison

Sectors	HYRM	BBHY
Financial Services	92.7%	4.1%
Basic Materials	-	3.2%
Communication Services	-	7.9%
Consumer Cyclical	-	10.0%
Consumer Defensive	-	2.5%
Energy	-	5.2%
Healthcare	-	5.4%
Industrials	-	8.4%
Real Estate	-	3.9%
Technology	-	4.0%
Utilities	-	2.0%

Return for Risk

HYRM vs. BBHY — Risk / Return Rank

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

HYRM

HYRM Risk / Return Rank: 65
HYRM Sharpe Ratio Rank: 57
HYRM Sortino Ratio Rank: 64
HYRM Omega Ratio Rank: 63
HYRM Calmar Ratio Rank: 66
HYRM Martin Ratio Rank: 74

BBHY

BBHY Risk / Return Rank: 67
BBHY Sharpe Ratio Rank: 61
BBHY Sortino Ratio Rank: 68
BBHY Omega Ratio Rank: 67
BBHY Calmar Ratio Rank: 62
BBHY Martin Ratio Rank: 74

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.

HYRM vs. BBHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). 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.

	HYRM	BBHY	Difference
Sharpe ratio Return per unit of total volatility	1.98	2.09	-0.11
Sortino ratio Return per unit of downside risk	3.00	3.17	-0.17
Omega ratio Gain probability vs. loss probability	1.39	1.41	-0.02
Calmar ratio Return relative to maximum drawdown	3.31	3.16	+0.15
Martin ratio Return relative to average drawdown	14.29	14.25	+0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYRM vs. BBHY - Sharpe Ratio Comparison

The current HYRM Sharpe Ratio is 1.98, which is comparable to the BBHY Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of HYRM and BBHY, 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

	HYRM	BBHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	2.09	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.65	-0.07

Drawdowns

HYRM vs. BBHY - Drawdown Comparison

The maximum HYRM drawdown since its inception was -12.42%, smaller than the maximum BBHY drawdown of -24.98%. Use the drawdown chart below to compare losses from any high point for HYRM and BBHY.

Drawdown Indicators

	HYRM	BBHY	Difference
Max Drawdown Largest peak-to-trough decline	-12.42%	-24.98%	+12.56%
Max Drawdown (1Y) Largest decline over 1 year	-2.53%	-2.37%	-0.16%
Max Drawdown (3Y) Largest decline over 3 years	-4.62%	-5.00%	+0.38%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.32%	—
Current Drawdown Current decline from peak	-0.05%	-0.06%	+0.01%
Average Drawdown Average peak-to-trough decline	-2.57%	-2.37%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	0.53%	+0.06%

Volatility

HYRM vs. BBHY - Volatility Comparison

The current volatility for Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM) is 1.05%, while JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) has a volatility of 1.13%. This indicates that HYRM experiences smaller price fluctuations and is considered to be less risky than BBHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYRM	BBHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	1.13%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	3.22%	2.86%	+0.36%
Volatility (1Y) Calculated over the trailing 1-year period	4.22%	3.61%	+0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.87%	7.26%	+0.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.87%	7.53%	+0.34%

HYRM vs. BBHY - Expense Ratio Comparison

HYRM has a 0.30% expense ratio, which is higher than BBHY's 0.15% expense ratio.

Dividends

HYRM vs. BBHY - Dividend Comparison

HYRM's dividend yield for the trailing twelve months is around 5.92%, less than BBHY's 6.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	6.93%	7.24%	7.18%	6.49%	5.92%	4.06%	4.73%	4.99%	5.02%	4.81%	1.42%
HYRM Xtrackers Risk Managed USD High Yield Strategy ETF	5.92%	6.28%	6.08%	5.78%	4.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYRM and BBHY in my portfolio?

HYRM and BBHY have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYRM or BBHY?

BBHY has higher volatility (1.13%) compared to HYRM (1.05%). In terms of maximum drawdown, HYRM dropped -12.42% vs BBHY's -24.98%.

Which ETF is better, HYRM or BBHY?

On 3-year performance, BBHY leads with 8.70% vs 7.86% for HYRM. On fees, BBHY is cheaper at 0.15% 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, HYRM or BBHY?

Over the 3-year period, BBHY has performed better with a 8.70% return vs 7.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYRM or BBHY?

BBHY is cheaper with a 0.15% expense ratio, compared with 0.30% for HYRM.

Which ETF pays a higher dividend yield, HYRM or BBHY?

BBHY has the higher dividend yield at 6.93%, compared with 5.92% for HYRM.

What is the main difference between HYRM and BBHY?

HYRM tracks Adaptive Wealth Strategies Risk Managed High Yield Index - USD - US Dollar - Benchmark TR Net, while BBHY tracks ICE BofA US High Yield Index. They also come from different issuers: Xtrackers and JPMorgan. Their fees differ too: 0.30% for HYRM and 0.15% for BBHY.

Which has better risk-adjusted returns?

BBHY currently has the higher Sharpe Ratio (2.09 vs 1.98), 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.