HYTR vs. USHY
HYTR (CP High Yield Trend ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - HYTR tracks the CP High Yield Trend Index while USHY tracks the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 5 years, HYTR returned 2.09%/yr vs 4.29%/yr for USHY. A 0.78 correlation means they provide meaningful diversification when combined. HYTR charges 0.97%/yr vs 0.15%/yr for USHY.
Performance
HYTR vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, HYTR achieves a 0.35% return, which is significantly lower than USHY's 1.64% return.
HYTR
- 1D
- 0.11%
- 1M
- 0.37%
- YTD
- 0.35%
- 6M
- 0.72%
- 1Y
- 5.23%
- 3Y*
- 6.52%
- 5Y*
- 2.09%
- 10Y*
- —
USHY
- 1D
- 0.22%
- 1M
- 0.46%
- YTD
- 1.64%
- 6M
- 1.98%
- 1Y
- 6.99%
- 3Y*
- 9.01%
- 5Y*
- 4.29%
- 10Y*
- —
HYTR vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HYTR CP High Yield Trend ETF | 0.35% | 5.95% | 7.25% | 8.31% | -11.29% | 2.75% | -0.95% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.64% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 5.51% |
Correlation
The correlation between HYTR and USHY is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2020 | 0.78 |
The correlation between HYTR and USHY shifts across timeframes, from 0.78 (all time) to 0.96 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HYTR vs. USHY — Risk / Return Rank
HYTR
USHY
HYTR vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CP High Yield Trend ETF (HYTR) 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.
| HYTR | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 2.89 | -0.58 |
| Martin ratioReturn relative to average drawdown | 7.61 | 12.99 | -5.37 |
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
| HYTR | USHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 1.93 | -0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.59 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.58 | -0.29 |
Drawdowns
HYTR vs. USHY - Drawdown Comparison
The maximum HYTR drawdown since its inception was -13.25%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for HYTR and USHY.
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Drawdown Indicators
| HYTR | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.25% | -22.44% | +9.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.28% | -2.43% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -4.93% | -4.66% | -0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -13.25% | -15.56% | +2.31% |
Current DrawdownCurrent decline from peak | -0.56% | -0.06% | -0.50% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -2.66% | -1.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.54% | +0.15% |
Volatility
HYTR vs. USHY - Volatility Comparison
CP High Yield Trend ETF (HYTR) and iShares Broad USD High Yield Corporate Bond ETF (USHY) have volatilities of 1.09% and 1.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYTR | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.14% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 2.92% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.66% | 3.65% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.62% | 7.34% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.86% | 8.25% | -2.39% |
HYTR vs. USHY - Expense Ratio Comparison
HYTR has a 0.97% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
HYTR vs. USHY - Dividend Comparison
HYTR's dividend yield for the trailing twelve months is around 5.70%, less than USHY's 6.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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
With a correlation of 0.96, HYTR and USHY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
USHY has higher volatility (1.14%) compared to HYTR (1.09%). In terms of maximum drawdown, HYTR dropped -13.25% vs USHY's -22.44%.
On 5-year performance, USHY leads with 4.29% vs 2.09% for HYTR. On fees, USHY is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USHY has performed better with a 4.29% return vs 2.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USHY is cheaper with a 0.15% expense ratio, compared with 0.97% for HYTR.
USHY has the higher dividend yield at 6.91%, compared with 5.70% for HYTR.
HYTR tracks CP High Yield Trend Index, while USHY tracks ICE BofA US High Yield Constrained Index. They also come from different issuers: Counterpoint Mutual Funds LLC and iShares. Their fees differ too: 0.97% for HYTR and 0.15% for USHY.
USHY currently has the higher Sharpe Ratio (1.93 vs 1.44), 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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