HYRM vs. HYGH

Last updated Jun 3, 2026

HYRM (Xtrackers Risk Managed USD High Yield Strategy ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both High Yield Bonds funds. HYRM is passively managed, while HYGH is actively managed. Over the past 3 years, HYRM returned 7.86%/yr vs 9.74%/yr for HYGH. A 0.74 correlation means they provide meaningful diversification when combined. HYRM charges 0.30%/yr vs 0.53%/yr for HYGH.

Performance

HYRM vs. HYGH - 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 iShares Interest Rate Hedged High Yield Bond ETF (HYGH). 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 HYGH's 2.93% return.

HYRM

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

HYGH

• 1D: -0.01%
• 1M: 0.79%
• YTD: 2.93%
• 6M: 3.63%
• 1Y: 7.98%
• 3Y*: 9.74%
• 5Y*: 6.95%
• 10Y*: 6.37%

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

HYRM vs. HYGH - 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%
HYGH iShares Interest Rate Hedged High Yield Bond ETF	2.93%	6.94%	11.22%	12.17%	0.80%

Correlation

The correlation between HYRM and HYGH is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Feb 11, 2022	0.74

The correlation between HYRM and HYGH shifts across timeframes, from 0.57 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

HYRM vs. HYGH - Sectors Allocation Comparison

Sectors	HYRM	HYGH
Financial Services	92.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	0.4%
Technology	-	-
Utilities	-	99.6%

Return for Risk

HYRM vs. HYGH — 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

HYGH

HYGH Risk / Return Rank: 76
HYGH Sharpe Ratio Rank: 65
HYGH Sortino Ratio Rank: 73
HYGH Omega Ratio Rank: 68
HYGH Calmar Ratio Rank: 87
HYGH Martin Ratio Rank: 89

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. HYGH - 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 iShares Interest Rate Hedged High Yield Bond ETF (HYGH). 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	HYGH	Difference
Sharpe ratio Return per unit of total volatility	1.98	2.19	-0.21
Sortino ratio Return per unit of downside risk	3.00	3.34	-0.33
Omega ratio Gain probability vs. loss probability	1.39	1.41	-0.02
Calmar ratio Return relative to maximum drawdown	3.31	5.08	-1.77
Martin ratio Return relative to average drawdown	14.29	19.91	-5.62
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. HYGH - Sharpe Ratio Comparison

The current HYRM Sharpe Ratio is 1.98, which is comparable to the HYGH Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of HYRM and HYGH, 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	HYGH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	2.19	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.99	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.56	+0.02

Drawdowns

HYRM vs. HYGH - Drawdown Comparison

The maximum HYRM drawdown since its inception was -12.42%, smaller than the maximum HYGH drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for HYRM and HYGH.

Drawdown Indicators

	HYRM	HYGH	Difference
Max Drawdown Largest peak-to-trough decline	-12.42%	-23.88%	+11.46%
Max Drawdown (1Y) Largest decline over 1 year	-2.53%	-1.62%	-0.91%
Max Drawdown (3Y) Largest decline over 3 years	-4.62%	-8.06%	+3.44%
Max Drawdown (5Y) Largest decline over 5 years	—	-8.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-23.88%	—
Current Drawdown Current decline from peak	-0.05%	-0.14%	+0.09%
Average Drawdown Average peak-to-trough decline	-2.57%	-2.23%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	0.41%	+0.18%

Volatility

HYRM vs. HYGH - Volatility Comparison

Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM) has a higher volatility of 1.05% compared to iShares Interest Rate Hedged High Yield Bond ETF (HYGH) at 0.62%. This indicates that HYRM's price experiences larger fluctuations and is considered to be riskier than HYGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYRM	HYGH	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	0.62%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	3.22%	2.84%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	4.22%	3.66%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.87%	7.07%	+0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.87%	8.35%	-0.48%

HYRM vs. HYGH - Expense Ratio Comparison

HYRM has a 0.30% expense ratio, which is lower than HYGH's 0.53% expense ratio.

Dividends

HYRM vs. HYGH - Dividend Comparison

HYRM's dividend yield for the trailing twelve months is around 5.92%, less than HYGH's 7.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYGH iShares Interest Rate Hedged High Yield Bond ETF	7.21%	6.86%	7.85%	8.95%	6.21%	3.74%	4.06%	4.89%	6.45%	4.79%	4.60%	5.75%
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%	0.00%

Frequently Asked Questions

Can I hold both HYRM and HYGH in my portfolio?

HYRM and HYGH have a correlation of 0.57, 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 HYGH?

HYRM has higher volatility (1.05%) compared to HYGH (0.62%). In terms of maximum drawdown, HYRM dropped -12.42% vs HYGH's -23.88%.

Which ETF is better, HYRM or HYGH?

On 3-year performance, HYGH leads with 9.74% vs 7.86% for HYRM. On fees, HYRM is cheaper at 0.30% per year. On volatility, HYGH has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYRM or HYGH?

Over the 3-year period, HYGH has performed better with a 9.74% 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 HYGH?

HYRM is cheaper with a 0.30% expense ratio, compared with 0.53% for HYGH.

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

HYGH has the higher dividend yield at 7.21%, compared with 5.92% for HYRM.

What is the main difference between HYRM and HYGH?

They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.30% for HYRM and 0.53% for HYGH.

Which has better risk-adjusted returns?

HYGH currently has the higher Sharpe Ratio (2.19 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.