HYXF vs. EFRA
HYXF (iShares ESG Advanced High Yield Corporate Bond ETF) and EFRA (iShares Environmental Infrastructure and Industrials ETF) are both exchange-traded funds - HYXF is a High Yield Bonds fund tracking the Bloomberg MSCI US High Yield Corporate Choice ESG Screened, while EFRA is a Industrials Equities fund tracking the FTSE Green Revenues Select Infrastructure and Industrials Index. Both are passively managed. Over the past 3 years, HYXF returned 8.59%/yr vs 10.23%/yr for EFRA. A 0.64 correlation means they provide meaningful diversification when combined. HYXF charges 0.35%/yr vs 0.47%/yr for EFRA.
Performance
HYXF vs. EFRA - Performance Comparison
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Returns By Period
In the year-to-date period, HYXF achieves a 1.34% return, which is significantly lower than EFRA's 5.58% return.
HYXF
- 1D
- 0.29%
- 1M
- 1.24%
- YTD
- 1.34%
- 6M
- 1.95%
- 1Y
- 6.13%
- 3Y*
- 8.59%
- 5Y*
- 3.71%
- 10Y*
- 5.12%
EFRA
- 1D
- 0.72%
- 1M
- 2.38%
- YTD
- 5.58%
- 6M
- 5.15%
- 1Y
- 10.97%
- 3Y*
- 10.23%
- 5Y*
- —
- 10Y*
- —
HYXF vs. EFRA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 1.34% | 8.88% | 8.35% | 11.87% | 1.78% |
EFRA iShares Environmental Infrastructure and Industrials ETF | 5.58% | 13.76% | 8.09% | 14.49% | 8.75% |
Correlation
The correlation between HYXF and EFRA is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022 | 0.64 |
The correlation between HYXF and EFRA has been stable across timeframes, ranging from 0.63 to 0.65 - a consistent structural relationship.
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Return for Risk
HYXF vs. EFRA — Risk / Return Rank
HYXF
EFRA
HYXF vs. EFRA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) and iShares Environmental Infrastructure and Industrials ETF (EFRA). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HYXF | EFRA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.14 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 0.98 | +1.41 |
| Martin ratioReturn relative to average drawdown | 10.72 | 2.69 | +8.02 |
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Drawdowns
HYXF vs. EFRA - Drawdown Comparison
The maximum HYXF drawdown since its inception was -18.75%, which is greater than EFRA's maximum drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for HYXF and EFRA.
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Drawdown Indicators
| HYXF | EFRA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.75% | -16.25% | -2.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -11.20% | +8.63% |
Max Drawdown (3Y)Largest decline over 3 years | -4.81% | -16.25% | +11.44% |
Max Drawdown (5Y)Largest decline over 5 years | -16.00% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.75% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -6.44% | +6.44% |
Average DrawdownAverage peak-to-trough decline | -2.57% | -3.66% | +1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 4.08% | -3.51% |
Volatility
HYXF vs. EFRA - Volatility Comparison
The current volatility for iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) is 1.29%, while iShares Environmental Infrastructure and Industrials ETF (EFRA) has a volatility of 5.44%. This indicates that HYXF experiences smaller price fluctuations and is considered to be less risky than EFRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYXF | EFRA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 5.44% | -4.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.01% | 11.60% | -8.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 14.48% | -10.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.05% | 15.58% | -7.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.31% | 15.58% | -7.27% |
HYXF vs. EFRA - Expense Ratio Comparison
HYXF has a 0.35% expense ratio, which is lower than EFRA's 0.47% expense ratio.
Dividends
HYXF vs. EFRA - Dividend Comparison
HYXF's dividend yield for the trailing twelve months is around 6.07%, more than EFRA's 5.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
EFRA iShares Environmental Infrastructure and Industrials ETF | 5.13% | 4.34% | 3.79% | 1.85% | 0.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 6.07% | 6.19% | 6.40% | 5.93% | 5.37% | 4.56% | 4.96% | 5.29% | 6.14% | 5.85% | 3.16% |
Frequently Asked Questions
HYXF and EFRA have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EFRA has higher volatility (5.44%) compared to HYXF (1.29%). In terms of maximum drawdown, HYXF dropped -18.75% vs EFRA's -16.25%.
On 3-year performance, EFRA leads with 10.23% vs 8.59% for HYXF. On fees, HYXF is cheaper at 0.35% per year. On volatility, HYXF has been the lower-risk option at 1.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EFRA has performed better with a 10.23% return vs 8.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYXF is cheaper with a 0.35% expense ratio, compared with 0.47% for EFRA.
HYXF has the higher dividend yield at 6.07%, compared with 5.13% for EFRA.
HYXF is categorized as High Yield Bonds, while EFRA is Industrials Equities. HYXF tracks Bloomberg MSCI US High Yield Corporate Choice ESG Screened, while EFRA tracks FTSE Green Revenues Select Infrastructure and Industrials Index. Their fees differ too: 0.35% for HYXF and 0.47% for EFRA.
HYXF currently has the higher Sharpe Ratio (1.61 vs 0.76), 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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