HYS vs. LTPZ
HYS (PIMCO 0-5 Year High Yield Corporate Bond Index ETF) and LTPZ (PIMCO 15+ Year US TIPS Index ETF) are both exchange-traded funds - HYS is a High Yield Bonds fund tracking the ICE BofA 0-5 Year US High Yield Constrained Index, while LTPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (15+ Y). Both are passively managed. Over the past 10 years, HYS returned 5.19%/yr vs -0.06%/yr for LTPZ. Their 0.10 correlation means their historical movements had little consistent relationship. HYS charges 0.56%/yr vs 0.20%/yr for LTPZ.
Performance
HYS vs. LTPZ - Performance Comparison
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Returns By Period
In the year-to-date period, HYS achieves a 1.42% return, which is significantly higher than LTPZ's -3.75% return. Over the past 10 years, HYS has outperformed LTPZ with an annualized return of 5.19%, while LTPZ has yielded a comparatively lower -0.06% annualized return.
HYS
- 1D
- 0.06%
- 1M
- -0.28%
- 6M
- 1.03%
- YTD
- 1.42%
- 1Y
- 5.05%
- 3Y*
- 8.13%
- 5Y*
- 5.03%
- 10Y*
- 5.19%
- ALL TIME*
- 4.99%
LTPZ
- 1D
- -0.34%
- 1M
- -3.73%
- 6M
- -3.61%
- YTD
- -3.75%
- 1Y
- -2.50%
- 3Y*
- -1.54%
- 5Y*
- -7.34%
- 10Y*
- -0.06%
- ALL TIME*
- 2.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.07M | $9.33M | $11.19M | |
| $11.36M | $8.24M | $7.63M |
HYS vs. LTPZ - 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 | 1.42% | 8.80% | 8.42% | 11.38% | -5.42% | 4.77% | 3.27% | 10.22% | -1.05% | 5.75% |
LTPZ PIMCO 15+ Year US TIPS Index ETF | -3.75% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | 17.47% | -7.22% | 9.07% |
Correlation
The correlation between HYS and LTPZ is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.46 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.39 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2011 | 0.10 |
Over the past year, HYS and LTPZ have become more correlated (0.46) than their long-term average of 0.10, meaning their price movements have been converging.
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Return for Risk
HYS vs. LTPZ — Risk / Return Rank
HYS
LTPZ
HYS vs. LTPZ - 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 PIMCO 15+ Year US TIPS Index ETF (LTPZ). 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 | LTPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.58 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.98 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | -0.20 | +2.96 |
| Martin ratioReturn relative to average drawdown | 10.85 | -0.42 | +11.27 |
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Drawdowns
HYS vs. LTPZ - Drawdown Comparison
The maximum HYS drawdown since its inception was -20.91%, smaller than the maximum LTPZ drawdown of -40.99%. Use the drawdown chart below to compare losses from any high point for HYS and LTPZ.
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Drawdown Indicators
| HYS | LTPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.91% | -40.99% | +20.08% |
Max Drawdown (1Y)Largest decline over 1 year | -1.88% | -8.09% | +6.21% |
Max Drawdown (3Y)Largest decline over 3 years | -4.98% | -12.64% | +7.66% |
Max Drawdown (5Y)Largest decline over 5 years | -10.61% | -40.99% | +30.38% |
Max Drawdown (10Y)Largest decline over 10 years | -20.91% | -40.99% | +20.08% |
Current DrawdownCurrent decline from peak | -0.53% | -35.53% | +35.00% |
Average DrawdownAverage peak-to-trough decline | -1.52% | -12.60% | +11.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 3.86% | -3.38% |
Volatility
HYS vs. LTPZ - Volatility Comparison
The current volatility for PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) is 0.76%, while PIMCO 15+ Year US TIPS Index ETF (LTPZ) has a volatility of 2.05%. This indicates that HYS experiences smaller price fluctuations and is considered to be less risky than LTPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYS | LTPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 2.05% | -1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 6.79% | -3.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.39% | 9.03% | -5.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.26% | 15.85% | -9.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.78% | 15.03% | -8.25% |
HYS vs. LTPZ - Expense Ratio Comparison
HYS has a 0.56% expense ratio, which is higher than LTPZ's 0.20% expense ratio.
Dividends
HYS vs. LTPZ - Dividend Comparison
HYS's dividend yield for the trailing twelve months is around 7.48%, more than LTPZ's 6.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 6.87% | 7.20% | 7.43% | 6.44% | 5.01% | 3.74% | 4.52% | 4.98% | 4.64% | 5.01% | 5.13% | 5.22% |
LTPZ PIMCO 15+ Year US TIPS Index ETF | 6.00% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
Frequently Asked Questions
HYS and LTPZ have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.05%) compared to HYS (0.76%). In terms of maximum drawdown, HYS dropped -20.91% vs LTPZ's -40.99%.
On 10-year performance, HYS leads with 5.19% vs -0.06% for LTPZ. On fees, LTPZ is cheaper at 0.20% per year. On volatility, HYS has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HYS has performed better with a 5.19% return vs -0.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LTPZ is cheaper with a 0.20% expense ratio, compared with 0.56% for HYS.
HYS has the higher dividend yield at 6.87%, compared with 6.00% for LTPZ.
HYS is categorized as High Yield Bonds, while LTPZ is Inflation-Protected Bonds. HYS tracks ICE BofA 0-5 Year US High Yield Constrained Index, while LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y). Their fees differ too: 0.56% for HYS and 0.20% for LTPZ.
HYS currently has the higher Sharpe Ratio (1.53 vs -0.18), 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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