HYRM vs. HYHG

Last updated Jun 3, 2026

HYRM (Xtrackers Risk Managed USD High Yield Strategy ETF) and HYHG (ProShares High Yield-Interest Rate Hedged) are both High Yield Bonds funds - HYRM tracks the Adaptive Wealth Strategies Risk Managed High Yield Index - USD - US Dollar - Benchmark TR Net while HYHG tracks the Citi High Yield (Treasury Rate-Hedged) Index. Both are passively managed. Over the past 3 years, HYRM returned 7.86%/yr vs 9.85%/yr for HYHG. A 0.56 correlation means they provide meaningful diversification when combined. HYRM charges 0.30%/yr vs 0.50%/yr for HYHG.

Performance

HYRM vs. HYHG - 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 ProShares High Yield-Interest Rate Hedged (HYHG). 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 HYHG's 3.36% return.

HYRM

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

HYHG

• 1D: 0.28%
• 1M: 0.60%
• YTD: 3.36%
• 6M: 4.50%
• 1Y: 7.55%
• 3Y*: 9.85%
• 5Y*: 7.04%
• 10Y*: 6.22%

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

HYRM vs. HYHG - 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%
HYHG ProShares High Yield-Interest Rate Hedged	3.36%	5.31%	11.41%	14.69%	-0.42%

Correlation

The correlation between HYRM and HYHG is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (All Time) Calculated using the full available price history since Feb 11, 2022	0.56

Over the past year, the correlation between HYRM and HYHG has dropped to 0.35 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

HYRM vs. HYHG - Sectors Allocation Comparison

Sectors	HYRM	HYHG
Financial Services	92.7%	-
Basic Materials	-	-
Communication Services	-	1.1%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	0.6%
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

HYRM vs. HYHG — 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

HYHG

HYHG Risk / Return Rank: 52
HYHG Sharpe Ratio Rank: 38
HYHG Sortino Ratio Rank: 38
HYHG Omega Ratio Rank: 37
HYHG Calmar Ratio Rank: 77
HYHG Martin Ratio Rank: 69

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. HYHG - 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 ProShares High Yield-Interest Rate Hedged (HYHG). 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	HYHG	Difference
Sharpe ratio Return per unit of total volatility	1.98	1.37	+0.61
Sortino ratio Return per unit of downside risk	3.00	1.99	+1.01
Omega ratio Gain probability vs. loss probability	1.39	1.25	+0.14
Calmar ratio Return relative to maximum drawdown	3.31	3.97	-0.66
Martin ratio Return relative to average drawdown	14.29	13.07	+1.21
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. HYHG - Sharpe Ratio Comparison

The current HYRM Sharpe Ratio is 1.98, which is higher than the HYHG Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of HYRM and HYHG, 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	HYHG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	1.37	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.47	+0.11

Drawdowns

HYRM vs. HYHG - Drawdown Comparison

The maximum HYRM drawdown since its inception was -12.42%, smaller than the maximum HYHG drawdown of -25.71%. Use the drawdown chart below to compare losses from any high point for HYRM and HYHG.

Drawdown Indicators

	HYRM	HYHG	Difference
Max Drawdown Largest peak-to-trough decline	-12.42%	-25.71%	+13.29%
Max Drawdown (1Y) Largest decline over 1 year	-2.53%	-2.02%	-0.51%
Max Drawdown (3Y) Largest decline over 3 years	-4.62%	-7.47%	+2.85%
Max Drawdown (5Y) Largest decline over 5 years	—	-9.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-25.71%	—
Current Drawdown Current decline from peak	-0.05%	0.00%	-0.05%
Average Drawdown Average peak-to-trough decline	-2.57%	-3.04%	+0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	0.61%	-0.02%

Volatility

HYRM vs. HYHG - Volatility Comparison

The current volatility for Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM) is 1.05%, while ProShares High Yield-Interest Rate Hedged (HYHG) has a volatility of 1.37%. This indicates that HYRM experiences smaller price fluctuations and is considered to be less risky than HYHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYRM	HYHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	1.37%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	3.22%	4.31%	-1.09%
Volatility (1Y) Calculated over the trailing 1-year period	4.22%	5.56%	-1.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.87%	8.15%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.87%	9.16%	-1.29%

HYRM vs. HYHG - Expense Ratio Comparison

HYRM has a 0.30% expense ratio, which is lower than HYHG's 0.50% expense ratio.

Dividends

HYRM vs. HYHG - Dividend Comparison

HYRM's dividend yield for the trailing twelve months is around 5.92%, less than HYHG's 6.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYHG ProShares High Yield-Interest Rate Hedged	6.76%	6.97%	6.57%	6.07%	5.58%	4.54%	5.21%	6.06%	6.45%	5.57%	5.37%	6.37%
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 HYHG in my portfolio?

HYRM and HYHG have a correlation of 0.35, 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 HYHG?

HYHG has higher volatility (1.37%) compared to HYRM (1.05%). In terms of maximum drawdown, HYRM dropped -12.42% vs HYHG's -25.71%.

Which ETF is better, HYRM or HYHG?

On 3-year performance, HYHG leads with 9.85% vs 7.86% for HYRM. On fees, HYRM is cheaper at 0.30% per year. On volatility, HYRM has been the lower-risk option at 1.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYRM or HYHG?

Over the 3-year period, HYHG has performed better with a 9.85% 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 HYHG?

HYRM is cheaper with a 0.30% expense ratio, compared with 0.50% for HYHG.

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

HYHG has the higher dividend yield at 6.76%, compared with 5.92% for HYRM.

What is the main difference between HYRM and HYHG?

HYRM tracks Adaptive Wealth Strategies Risk Managed High Yield Index - USD - US Dollar - Benchmark TR Net, while HYHG tracks Citi High Yield (Treasury Rate-Hedged) Index. They also come from different issuers: Xtrackers and ProShares. Their fees differ too: 0.30% for HYRM and 0.50% for HYHG.

Which has better risk-adjusted returns?

HYRM currently has the higher Sharpe Ratio (1.98 vs 1.37), 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.