HYS vs. HYLD
HYS (PIMCO 0-5 Year High Yield Corporate Bond Index ETF) and HYLD (High Yield ETF) are both High Yield Bonds funds. HYS is passively managed, while HYLD is actively managed. At a 0.39 correlation, their price movements are largely independent. HYS charges 0.56%/yr vs 1.29%/yr for HYLD.
Performance
HYS vs. HYLD - Performance Comparison
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Returns By Period
HYS
- 1D
- 0.04%
- 1M
- 0.26%
- 6M
- 1.71%
- YTD
- 1.71%
- 1Y
- 6.11%
- 3Y*
- 8.42%
- 5Y*
- 4.97%
- 10Y*
- 5.30%
HYLD
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYS vs. HYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 1.71% | 8.80% | 8.42% | 11.38% | -5.42% | 4.77% | 3.27% | 10.22% | -1.05% | 5.75% |
HYLD High Yield ETF | 0.00% | 0.00% | 0.00% | 2.80% | -11.48% | 5.41% | 3.11% | 7.16% | 0.25% | 8.97% |
Correlation
The correlation between HYS and HYLD is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2011 | 0.39 |
The correlation between HYS and HYLD shifts across timeframes, from 0.15 (3 years) to 0.39 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYS vs. HYLD — Risk / Return Rank
HYS
HYLD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYS vs. HYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) and High Yield ETF (HYLD). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HYS | HYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.34 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | — | — |
| Martin ratioReturn relative to average drawdown | 13.22 | — | — |
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Drawdowns
HYS vs. HYLD - Drawdown Comparison
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Drawdown Indicators
| HYS | HYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.91% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -1.88% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.98% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -20.91% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | — | — |
Average DrawdownAverage peak-to-trough decline | -1.52% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | — | — |
Volatility
HYS vs. HYLD - Volatility Comparison
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Volatility by Period
| HYS | HYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.27% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.79% | — | — |
HYS vs. HYLD - Expense Ratio Comparison
HYS has a 0.56% expense ratio, which is lower than HYLD's 1.29% expense ratio.
Dividends
HYS vs. HYLD - Dividend Comparison
HYS's dividend yield for the trailing twelve months is around 7.46%, while HYLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYLD High Yield ETF | 0.00% | 0.00% | 0.00% | 4.67% | 7.86% | 6.45% | 7.52% | 7.46% | 7.97% | 7.18% | 6.59% | 10.87% |
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 7.46% | 7.20% | 7.43% | 6.44% | 5.01% | 3.74% | 4.52% | 4.98% | 4.64% | 5.01% | 5.13% | 5.22% |
Frequently Asked Questions
HYS and HYLD have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYS is cheaper at 0.56% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYS is cheaper with a 0.56% expense ratio, compared with 1.29% for HYLD.
HYS has the higher dividend yield at 7.46%, compared with 0.00% for HYLD.
They also come from different issuers: PIMCO and Exchange Traded Concepts. Their fees differ too: 0.56% for HYS and 1.29% for HYLD.
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