HYS vs. VTIP

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP).

HYS and VTIP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYS is a passively managed fund by PIMCO that tracks the performance of the ICE BofA US High Yield Constrained (0-5 Y). It was launched on Jun 16, 2011. VTIP is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. It was launched on Oct 12, 2012. Both HYS and VTIP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HYS vs. VTIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP). The values are adjusted to include any dividend payments, if applicable.

HYS vs. VTIP - 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	-0.39%	8.80%	8.42%	11.38%	-5.42%	4.77%	3.27%	10.22%	-1.05%	5.75%
VTIP Vanguard Short-Term Inflation-Protected Securities ETF	0.99%	6.07%	4.74%	4.62%	-2.94%	5.36%	4.95%	4.86%	0.56%	0.82%

Returns By Period

In the year-to-date period, HYS achieves a -0.39% return, which is significantly lower than VTIP's 0.99% return. Over the past 10 years, HYS has outperformed VTIP with an annualized return of 5.62%, while VTIP has yielded a comparatively lower 3.07% annualized return.

HYS

• 1D: 0.70%
• 1M: -0.57%
• YTD: -0.39%
• 6M: 1.22%
• 1Y: 7.13%
• 3Y*: 8.21%
• 5Y*: 4.94%
• 10Y*: 5.62%

VTIP

• 1D: 0.02%
• 1M: 0.10%
• YTD: 0.99%
• 6M: 1.37%
• 1Y: 3.94%
• 3Y*: 4.66%
• 5Y*: 3.48%
• 10Y*: 3.07%

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

HYS vs. VTIP - Expense Ratio Comparison

HYS has a 0.56% expense ratio, which is higher than VTIP's 0.03% expense ratio.

HYS

PIMCO 0-5 Year High Yield Corporate Bond Index ETF

VTIP

Vanguard Short-Term Inflation-Protected Securities ETF

Return for Risk

HYS vs. VTIP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYS

HYS Risk / Return Rank: 79
HYS Sharpe Ratio Rank: 76
HYS Sortino Ratio Rank: 78
HYS Omega Ratio Rank: 83
HYS Calmar Ratio Rank: 72
HYS Martin Ratio Rank: 87

VTIP

VTIP Risk / Return Rank: 94
VTIP Sharpe Ratio Rank: 93
VTIP Sortino Ratio Rank: 96
VTIP Omega Ratio Rank: 95
VTIP Calmar Ratio Rank: 96
VTIP Martin Ratio Rank: 93

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.

HYS vs. VTIP - 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 Vanguard Short-Term Inflation-Protected Securities ETF (VTIP). 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	VTIP	Difference
Sharpe ratio Return per unit of total volatility	1.33	2.09	-0.75
Sortino ratio Return per unit of downside risk	1.93	3.15	-1.21
Omega ratio Gain probability vs. loss probability	1.32	1.44	-0.13
Calmar ratio Return relative to maximum drawdown	1.78	4.11	-2.33
Martin ratio Return relative to average drawdown	9.95	13.24	-3.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYS vs. VTIP - Sharpe Ratio Comparison

The current HYS Sharpe Ratio is 1.33, which is lower than the VTIP Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of HYS and VTIP, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HYS	VTIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	2.09	-0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	1.26	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	1.12	-0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.87	-0.07

Correlation

The correlation between HYS and VTIP is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HYS vs. VTIP - Dividend Comparison

HYS's dividend yield for the trailing twelve months is around 7.40%, more than VTIP's 3.77% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF	7.40%	7.20%	7.43%	6.44%	5.01%	3.74%	4.52%	4.98%	4.64%	5.01%	5.13%	5.22%
VTIP Vanguard Short-Term Inflation-Protected Securities ETF	3.77%	3.81%	2.70%	2.86%	6.84%	4.68%	1.20%	1.95%	2.45%	1.52%	0.76%	0.00%

Drawdowns

HYS vs. VTIP - Drawdown Comparison

The maximum HYS drawdown since its inception was -20.91%, which is greater than VTIP's maximum drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for HYS and VTIP.

Drawdown Indicators

	HYS	VTIP	Difference
Max Drawdown Largest peak-to-trough decline	-20.91%	-6.27%	-14.64%
Max Drawdown (1Y) Largest decline over 1 year	-4.06%	-0.98%	-3.08%
Max Drawdown (5Y) Largest decline over 5 years	-10.61%	-5.50%	-5.11%
Max Drawdown (10Y) Largest decline over 10 years	-20.91%	-6.27%	-14.64%
Current Drawdown Current decline from peak	-1.02%	-0.26%	-0.76%
Average Drawdown Average peak-to-trough decline	-1.55%	-1.05%	-0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	0.30%	+0.43%

Volatility

HYS vs. VTIP - Volatility Comparison

PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) has a higher volatility of 1.88% compared to Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) at 0.60%. This indicates that HYS's price experiences larger fluctuations and is considered to be riskier than VTIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYS	VTIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.88%	0.60%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	2.52%	0.97%	+1.55%
Volatility (1Y) Calculated over the trailing 1-year period	5.38%	1.90%	+3.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.22%	2.78%	+3.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.85%	2.74%	+4.11%