HYSA vs. PCMM

Last updated Jun 5, 2026

HYSA (Bondbloxx USD High Yield Bond Sector Rotation ETF) and PCMM (BondBloxx Private Credit CLO ETF) are both exchange-traded funds - HYSA is a High Yield Bonds fund actively managed by BondBloxx, while PCMM is a CLO fund actively managed by BondBloxx. Both are actively managed. Over the past year, HYSA returned 6.36% vs 4.09% for PCMM. At a 0.22 correlation, their price movements are largely independent. HYSA charges 0.55%/yr vs 0.68%/yr for PCMM.

Performance

HYSA vs. PCMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA) and BondBloxx Private Credit CLO ETF (PCMM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYSA achieves a 1.26% return, which is significantly higher than PCMM's 1.05% return.

HYSA

• 1D: 0.19%
• 1M: 0.40%
• YTD: 1.26%
• 6M: 1.49%
• 1Y: 6.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PCMM

• 1D: -0.10%
• 1M: -0.09%
• YTD: 1.05%
• 6M: 1.73%
• 1Y: 4.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYSA vs. PCMM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYSA Bondbloxx USD High Yield Bond Sector Rotation ETF	1.26%	8.37%	-1.97%
PCMM BondBloxx Private Credit CLO ETF	1.05%	6.30%	0.50%

Correlation

The correlation between HYSA and PCMM is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	0.22

Return for Risk

HYSA vs. PCMM — Risk / Return Rank

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

HYSA

HYSA Risk / Return Rank: 42
HYSA Sharpe Ratio Rank: 39
HYSA Sortino Ratio Rank: 41
HYSA Omega Ratio Rank: 38
HYSA Calmar Ratio Rank: 42
HYSA Martin Ratio Rank: 49

PCMM

PCMM Risk / Return Rank: 34
PCMM Sharpe Ratio Rank: 30
PCMM Sortino Ratio Rank: 29
PCMM Omega Ratio Rank: 30
PCMM Calmar Ratio Rank: 39
PCMM Martin Ratio Rank: 42

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.

HYSA vs. PCMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA) and BondBloxx Private Credit CLO ETF (PCMM). 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.

	HYSA	PCMM	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.07	+0.30
Sortino ratio: Return per unit of downside risk	2.02	1.53	+0.49
Omega ratio: Gain probability vs. loss probability	1.25	1.20	+0.05
Calmar ratio: Return relative to maximum drawdown	2.03	1.91	+0.12
Martin ratio: Return relative to average drawdown	8.16	6.62	+1.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYSA vs. PCMM - Sharpe Ratio Comparison

The current HYSA Sharpe Ratio is 1.37, which is comparable to the PCMM Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of HYSA and PCMM, 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

	HYSA	PCMM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	1.07	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	1.06	+0.31

Drawdowns

HYSA vs. PCMM - Drawdown Comparison

The maximum HYSA drawdown since its inception was -4.90%, which is greater than PCMM's maximum drawdown of -4.32%. Use the drawdown chart below to compare losses from any high point for HYSA and PCMM.

Drawdown Indicators

	HYSA	PCMM	Difference
Max Drawdown Largest peak-to-trough decline	-4.90%	-4.32%	-0.58%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-2.16%	-0.99%
Current Drawdown Current decline from peak	-0.27%	-0.51%	+0.24%
Average Drawdown Average peak-to-trough decline	-0.68%	-0.43%	-0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	0.62%	+0.16%

Volatility

HYSA vs. PCMM - Volatility Comparison

Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA) has a higher volatility of 1.28% compared to BondBloxx Private Credit CLO ETF (PCMM) at 1.12%. This indicates that HYSA's price experiences larger fluctuations and is considered to be riskier than PCMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYSA	PCMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	1.12%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	3.55%	2.64%	+0.91%
Volatility (1Y) Calculated over the trailing 1-year period	4.68%	3.86%	+0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.08%	4.97%	+1.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.08%	4.97%	+1.11%

HYSA vs. PCMM - Expense Ratio Comparison

HYSA has a 0.55% expense ratio, which is lower than PCMM's 0.68% expense ratio.

Dividends

HYSA vs. PCMM - Dividend Comparison

HYSA's dividend yield for the trailing twelve months is around 6.76%, more than PCMM's 6.63% yield.

Position	TTM	2025	2024	2023
HYSA Bondbloxx USD High Yield Bond Sector Rotation ETF	6.76%	6.70%	6.99%	2.65%
PCMM BondBloxx Private Credit CLO ETF	6.63%	7.02%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYSA and PCMM in my portfolio?

HYSA and PCMM have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYSA or PCMM?

HYSA has higher volatility (1.28%) compared to PCMM (1.12%). In terms of maximum drawdown, HYSA dropped -4.90% vs PCMM's -4.32%.

Which ETF is better, HYSA or PCMM?

On 1-year performance, HYSA leads with 6.36% vs 4.09% for PCMM. On fees, HYSA is cheaper at 0.55% per year. On volatility, PCMM has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYSA or PCMM?

Over the 1-year period, HYSA has performed better with a 6.36% return vs 4.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYSA or PCMM?

HYSA is cheaper with a 0.55% expense ratio, compared with 0.68% for PCMM.

Which ETF pays a higher dividend yield, HYSA or PCMM?

HYSA has the higher dividend yield at 6.76%, compared with 6.63% for PCMM.

What is the main difference between HYSA and PCMM?

HYSA is categorized as High Yield Bonds, while PCMM is CLO. Their fees differ too: 0.55% for HYSA and 0.68% for PCMM.

Which has better risk-adjusted returns?

HYSA currently has the higher Sharpe Ratio (1.37 vs 1.07), 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.