HYSD vs. USHY

Last updated Jun 5, 2026

HYSD (Columbia Short Duration High Yield ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. HYSD is actively managed, while USHY is passively managed. Over the past year, HYSD returned 6.12% vs 6.99% for USHY. Their correlation of 0.88 suggests significant overlap in exposure. HYSD charges 0.44%/yr vs 0.15%/yr for USHY.

Performance

HYSD vs. USHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Short Duration High Yield ETF (HYSD) and iShares Broad USD High Yield Corporate Bond ETF (USHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYSD achieves a 1.80% return, which is significantly higher than USHY's 1.64% return.

HYSD

• 1D: 0.13%
• 1M: 0.43%
• YTD: 1.80%
• 6M: 2.24%
• 1Y: 6.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USHY

• 1D: 0.22%
• 1M: 0.46%
• YTD: 1.64%
• 6M: 1.98%
• 1Y: 6.99%
• 3Y*: 9.01%
• 5Y*: 4.29%
• 10Y*: —

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

HYSD vs. USHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYSD Columbia Short Duration High Yield ETF	1.80%	7.74%	0.97%
USHY iShares Broad USD High Yield Corporate Bond ETF	1.64%	8.81%	1.20%

Correlation

The correlation between HYSD and USHY is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.88

The correlation between HYSD and USHY has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

Return for Risk

HYSD vs. USHY — Risk / Return Rank

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

HYSD

HYSD Risk / Return Rank: 78
HYSD Sharpe Ratio Rank: 67
HYSD Sortino Ratio Rank: 77
HYSD Omega Ratio Rank: 77
HYSD Calmar Ratio Rank: 81
HYSD Martin Ratio Rank: 87

USHY

USHY Risk / Return Rank: 63
USHY Sharpe Ratio Rank: 58
USHY Sortino Ratio Rank: 64
USHY Omega Ratio Rank: 63
USHY Calmar Ratio Rank: 59
USHY Martin Ratio Rank: 71

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.

HYSD vs. USHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Short Duration High Yield ETF (HYSD) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.

	HYSD	USHY	Difference
Sharpe ratio: Return per unit of total volatility	2.19	1.93	+0.26
Sortino ratio: Return per unit of downside risk	3.40	2.90	+0.50
Omega ratio: Gain probability vs. loss probability	1.45	1.37	+0.08
Calmar ratio: Return relative to maximum drawdown	4.21	2.89	+1.32
Martin ratio: Return relative to average drawdown	18.28	12.99	+5.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYSD vs. USHY - Sharpe Ratio Comparison

The current HYSD Sharpe Ratio is 2.19, which is comparable to the USHY Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of HYSD and USHY, 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

	HYSD	USHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	1.93	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.73	0.58	+1.14

Drawdowns

HYSD vs. USHY - Drawdown Comparison

The maximum HYSD drawdown since its inception was -2.69%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for HYSD and USHY.

Drawdown Indicators

	HYSD	USHY	Difference
Max Drawdown Largest peak-to-trough decline	-2.69%	-22.44%	+19.75%
Max Drawdown (1Y) Largest decline over 1 year	-1.46%	-2.43%	+0.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.56%	—
Current Drawdown Current decline from peak	-0.09%	-0.06%	-0.03%
Average Drawdown Average peak-to-trough decline	-0.26%	-2.66%	+2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	0.54%	-0.20%

Volatility

HYSD vs. USHY - Volatility Comparison

The current volatility for Columbia Short Duration High Yield ETF (HYSD) is 0.97%, while iShares Broad USD High Yield Corporate Bond ETF (USHY) has a volatility of 1.14%. This indicates that HYSD experiences smaller price fluctuations and is considered to be less risky than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYSD	USHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	1.14%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	2.14%	2.92%	-0.78%
Volatility (1Y) Calculated over the trailing 1-year period	2.81%	3.65%	-0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.52%	7.34%	-3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.52%	8.25%	-4.73%

HYSD vs. USHY - Expense Ratio Comparison

HYSD has a 0.44% expense ratio, which is higher than USHY's 0.15% expense ratio.

Dividends

HYSD vs. USHY - Dividend Comparison

HYSD's dividend yield for the trailing twelve months is around 5.80%, less than USHY's 6.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYSD Columbia Short Duration High Yield ETF	5.80%	5.60%	1.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USHY iShares Broad USD High Yield Corporate Bond ETF	6.91%	6.79%	6.89%	6.63%	6.08%	5.07%	5.30%	5.92%	6.30%	0.73%

Frequently Asked Questions

Can I hold both HYSD and USHY in my portfolio?

HYSD and USHY have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYSD or USHY?

USHY has higher volatility (1.14%) compared to HYSD (0.97%). In terms of maximum drawdown, HYSD dropped -2.69% vs USHY's -22.44%.

Which ETF is better, HYSD or USHY?

On 1-year performance, USHY leads with 6.99% vs 6.12% for HYSD. On fees, USHY is cheaper at 0.15% per year. On volatility, HYSD has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYSD or USHY?

Over the 1-year period, USHY has performed better with a 6.99% return vs 6.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYSD or USHY?

USHY is cheaper with a 0.15% expense ratio, compared with 0.44% for HYSD.

Which ETF pays a higher dividend yield, HYSD or USHY?

USHY has the higher dividend yield at 6.91%, compared with 5.80% for HYSD.

What is the main difference between HYSD and USHY?

They also come from different issuers: Columbia and iShares. Their fees differ too: 0.44% for HYSD and 0.15% for USHY.

Which has better risk-adjusted returns?

HYSD currently has the higher Sharpe Ratio (2.19 vs 1.93), 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.