HYS vs. MAXJ
HYS (PIMCO 0-5 Year High Yield Corporate Bond Index ETF) and MAXJ (iShares Large Cap Max Buffer Jun ETF) are both exchange-traded funds - HYS is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained (0-5 Y), while MAXJ is a Equity Hedged fund actively managed by iShares. HYS is passively managed, while MAXJ is actively managed. Over the past year, HYS returned 7.07% vs 9.25% for MAXJ. A 0.54 correlation means they provide meaningful diversification when combined. HYS charges 0.56%/yr vs 0.50%/yr for MAXJ.
Performance
HYS vs. MAXJ - Performance Comparison
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Returns By Period
In the year-to-date period, HYS achieves a 1.33% return, which is significantly lower than MAXJ's 2.88% return.
HYS
- 1D
- -0.09%
- 1M
- 0.47%
- YTD
- 1.33%
- 6M
- 1.83%
- 1Y
- 7.07%
- 3Y*
- 8.58%
- 5Y*
- 5.08%
- 10Y*
- 5.35%
MAXJ
- 1D
- 0.03%
- 1M
- 0.82%
- YTD
- 2.88%
- 6M
- 3.34%
- 1Y
- 9.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYS vs. MAXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 1.33% | 8.80% | 5.61% |
MAXJ iShares Large Cap Max Buffer Jun ETF | 2.88% | 8.97% | 4.55% |
Correlation
The correlation between HYS and MAXJ is 0.55, 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 | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024 | 0.54 |
The correlation between HYS and MAXJ has been stable across timeframes, ranging from 0.54 to 0.55 - a consistent structural relationship.
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Return for Risk
HYS vs. MAXJ — Risk / Return Rank
HYS
MAXJ
HYS vs. MAXJ - 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 iShares Large Cap Max Buffer Jun ETF (MAXJ). 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.
| HYS | MAXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | -2.08 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.76 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.77 | 5.45 | -1.69 |
| Martin ratioReturn relative to average drawdown | 15.35 | 30.88 | -15.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYS | MAXJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 3.19 | -1.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 1.64 | -0.83 |
Drawdowns
HYS vs. MAXJ - Drawdown Comparison
The maximum HYS drawdown since its inception was -20.91%, which is greater than MAXJ's maximum drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for HYS and MAXJ.
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Drawdown Indicators
| HYS | MAXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.91% | -6.35% | -14.56% |
Max Drawdown (1Y)Largest decline over 1 year | -1.88% | -1.70% | -0.18% |
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 | -0.14% | 0.00% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -1.53% | -0.56% | -0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 0.30% | +0.16% |
Volatility
HYS vs. MAXJ - Volatility Comparison
PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) has a higher volatility of 1.23% compared to iShares Large Cap Max Buffer Jun ETF (MAXJ) at 0.30%. This indicates that HYS's price experiences larger fluctuations and is considered to be riskier than MAXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYS | MAXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 0.30% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 1.93% | +0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.47% | 2.93% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.26% | 5.28% | +0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.84% | 5.28% | +1.56% |
HYS vs. MAXJ - Expense Ratio Comparison
HYS has a 0.56% expense ratio, which is higher than MAXJ's 0.50% expense ratio.
Dividends
HYS vs. MAXJ - Dividend Comparison
HYS's dividend yield for the trailing twelve months is around 7.36%, more than MAXJ's 0.98% 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 | 7.36% | 7.20% | 7.43% | 6.44% | 5.01% | 3.74% | 4.52% | 4.98% | 4.64% | 5.01% | 5.13% | 5.22% |
MAXJ iShares Large Cap Max Buffer Jun ETF | 0.98% | 1.01% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYS and MAXJ have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYS has higher volatility (1.23%) compared to MAXJ (0.30%). In terms of maximum drawdown, HYS dropped -20.91% vs MAXJ's -6.35%.
On 1-year performance, MAXJ leads with 9.25% vs 7.07% for HYS. On fees, MAXJ is cheaper at 0.50% per year. On volatility, MAXJ has been the lower-risk option at 0.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MAXJ has performed better with a 9.25% return vs 7.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MAXJ is cheaper with a 0.50% expense ratio, compared with 0.56% for HYS.
HYS has the higher dividend yield at 7.36%, compared with 0.98% for MAXJ.
HYS is categorized as High Yield Bonds, while MAXJ is Equity Hedged. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.56% for HYS and 0.50% for MAXJ.
MAXJ currently has the higher Sharpe Ratio (3.19 vs 2.04), 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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