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HYTR vs. HYHG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYTR vs. HYHG

Last updated Jun 5, 2026

HYTR (CP High Yield Trend ETF) and HYHG (ProShares High Yield-Interest Rate Hedged) are both High Yield Bonds funds - HYTR tracks the CP High Yield Trend Index while HYHG tracks the Citi High Yield (Treasury Rate-Hedged) Index. Both are passively managed. Over the past 5 years, HYTR returned 2.09%/yr vs 6.99%/yr for HYHG. At a 0.38 correlation, their price movements are largely independent. HYTR charges 0.97%/yr vs 0.50%/yr for HYHG.

Performance

HYTR vs. HYHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CP High Yield Trend ETF (HYTR) and ProShares High Yield-Interest Rate Hedged (HYHG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HYTR achieves a 0.35% return, which is significantly lower than HYHG's 3.03% return.

HYTR

1D
0.11%
1M
0.37%
YTD
0.35%
6M
0.72%
1Y
5.23%
3Y*
6.52%
5Y*
2.09%
10Y*
—

HYHG

1D
0.12%
1M
0.64%
YTD
3.03%
6M
3.57%
1Y
7.52%
3Y*
9.78%
5Y*
6.99%
10Y*
6.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYTR vs. HYHG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
HYTR
CP High Yield Trend ETF		0.35%5.95%7.25%8.31%-11.29%2.75%-0.95%
HYHG
ProShares High Yield-Interest Rate Hedged		3.03%5.31%11.41%14.69%-1.71%5.75%0.01%

Correlation

The correlation between HYTR and HYHG is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (3Y)
Calculated over the trailing 3-year period

0.40

Correlation (5Y)
Calculated over the trailing 5-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Jan 23, 2020

0.38

HYTR vs. HYHG - Sectors Allocation Comparison

Sectors
HYTR
HYHG

Energy

90.3%

-

Technology

9.3%

-

Real Estate

0.5%

-

Basic Materials

-

-

Communication Services

-

1.1%

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

0.6%

Industrials

-

-

Utilities

-

-

Energy

HYTR
90.3%
HYHG

-

Technology

HYTR
9.3%
HYHG

-

Real Estate

HYTR
0.5%
HYHG

-

Basic Materials

HYTR

-

HYHG

-

Communication Services

HYTR

-

HYHG
1.1%

Consumer Cyclical

HYTR

-

HYHG

-

Consumer Defensive

HYTR

-

HYHG

-

Financial Services

HYTR

-

HYHG

-

Healthcare

HYTR

-

HYHG
0.6%

Industrials

HYTR

-

HYHG

-

Utilities

HYTR

-

HYHG

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

CP High Yield Trend ETF

ProShares High Yield-Interest Rate Hedged

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Often compared with HYHG:
HYHG vs. HYGHHYHG vs. HYGHYHG vs. IGHGHYHG vs. SCHDHYHG vs. EIFAXHYHG vs. AOHYHYHG vs. PDI

Return for Risk

HYTR vs. HYHG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYTR
HYTR Risk / Return Rank: 4444
Overall Rank
HYTR Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
HYTR Sortino Ratio Rank: 4242
Sortino Ratio Rank
HYTR Omega Ratio Rank: 4444
Omega Ratio Rank
HYTR Calmar Ratio Rank: 4747
Calmar Ratio Rank
HYTR Martin Ratio Rank: 4747
Martin Ratio Rank
HYHG
HYHG Risk / Return Rank: 5252
Overall Rank
HYHG Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
HYHG Sortino Ratio Rank: 3939
Sortino Ratio Rank
HYHG Omega Ratio Rank: 3838
Omega Ratio Rank
HYHG Calmar Ratio Rank: 7575
Calmar Ratio Rank
HYHG Martin Ratio Rank: 6868
Martin Ratio Rank
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.

HYTR vs. HYHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CP High Yield Trend ETF (HYTR) and ProShares High Yield-Interest Rate Hedged (HYHG). 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.

HYTRHYHGDifference
Sharpe ratioReturn per unit of total volatility
1.44
1.36

+0.08

Sortino ratioReturn per unit of downside risk
2.10
1.98

+0.12

Omega ratioGain probability vs. loss probability

1.28

1.24

+0.03

Calmar ratioReturn relative to maximum drawdown

2.31

3.74

-1.43

Martin ratioReturn relative to average drawdown

7.61

12.28

-4.67

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYTR vs. HYHG - Sharpe Ratio Comparison

The current HYTR Sharpe Ratio is 1.44, which is comparable to the HYHG Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of HYTR and HYHG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

HYTRHYHGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.44

1.36

+0.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.37

0.86

-0.49

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.67

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.46

-0.17

Drawdowns

HYTR vs. HYHG - Drawdown Comparison

The maximum HYTR drawdown since its inception was -13.25%, smaller than the maximum HYHG drawdown of -25.71%. Use the drawdown chart below to compare losses from any high point for HYTR and HYHG.

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Drawdown Indicators

HYTRHYHGDifference

Max Drawdown

Largest peak-to-trough decline

-13.25%

-25.71%

+12.46%

Max Drawdown (1Y)

Largest decline over 1 year

-2.28%

-2.02%

-0.26%

Max Drawdown (3Y)

Largest decline over 3 years

-4.93%

-7.47%

+2.54%

Max Drawdown (5Y)

Largest decline over 5 years

-13.25%

-9.21%

-4.04%

Max Drawdown (10Y)

Largest decline over 10 years

—

-25.71%

—

Current Drawdown

Current decline from peak

-0.56%

-0.32%

-0.24%

Average Drawdown

Average peak-to-trough decline

-4.13%

-3.04%

-1.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.69%

0.61%

+0.08%

Volatility

HYTR vs. HYHG - Volatility Comparison

The current volatility for CP High Yield Trend ETF (HYTR) is 1.09%, while ProShares High Yield-Interest Rate Hedged (HYHG) has a volatility of 1.42%. This indicates that HYTR experiences smaller price fluctuations and is considered to be less risky than HYHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HYTRHYHGDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.09%

1.42%

-0.33%

Volatility (6M)

Calculated over the trailing 6-month period

2.64%

4.30%

-1.66%

Volatility (1Y)

Calculated over the trailing 1-year period

3.66%

5.56%

-1.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.62%

8.16%

-2.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.86%

9.15%

-3.29%

HYTR vs. HYHG - Expense Ratio Comparison

HYTR has a 0.97% expense ratio, which is higher than HYHG's 0.50% expense ratio.

Dividends

HYTR vs. HYHG - Dividend Comparison

HYTR's dividend yield for the trailing twelve months is around 5.70%, less than HYHG's 6.78% yield.

PositionTTM20252024202320222021202020192018201720162015
HYHG
ProShares High Yield-Interest Rate Hedged		6.78%6.97%6.57%6.07%5.58%4.54%5.21%6.06%6.45%5.57%5.37%6.37%
HYTR
CP High Yield Trend ETF		5.70%5.78%5.55%5.43%1.24%3.70%3.05%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HYTR and HYHG have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HYHG has higher volatility (1.42%) compared to HYTR (1.09%). In terms of maximum drawdown, HYTR dropped -13.25% vs HYHG's -25.71%.

On 5-year performance, HYHG leads with 6.99% vs 2.09% for HYTR. On fees, HYHG is cheaper at 0.50% per year. On volatility, HYTR has been the lower-risk option at 1.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, HYHG has performed better with a 6.99% return vs 2.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HYHG is cheaper with a 0.50% expense ratio, compared with 0.97% for HYTR.

HYHG has the higher dividend yield at 6.78%, compared with 5.70% for HYTR.

HYTR tracks CP High Yield Trend Index, while HYHG tracks Citi High Yield (Treasury Rate-Hedged) Index. They also come from different issuers: Counterpoint Mutual Funds LLC and ProShares. Their fees differ too: 0.97% for HYTR and 0.50% for HYHG.

HYTR currently has the higher Sharpe Ratio (1.44 vs 1.36), 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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