HYXF vs. USHY
HYXF (iShares ESG Advanced High Yield Corporate Bond ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds from iShares - HYXF tracks the Bloomberg MSCI US High Yield Corporate Choice ESG Screened while USHY tracks the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 5 years, HYXF returned 3.53%/yr vs 4.16%/yr for USHY. Their correlation of 0.84 means they have usually moved in the same direction. HYXF charges 0.35%/yr vs 0.15%/yr for USHY.
Performance
HYXF vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, HYXF achieves a 1.45% return, which is significantly lower than USHY's 2.08% return.
HYXF
- 1D
- 0.37%
- 1M
- 0.01%
- 6M
- 1.13%
- YTD
- 1.45%
- 1Y
- 4.85%
- 3Y*
- 8.39%
- 5Y*
- 3.53%
- 10Y*
- 4.82%
- ALL TIME*
- 5.07%
USHY
- 1D
- 0.31%
- 1M
- 0.01%
- 6M
- 1.32%
- YTD
- 2.08%
- 1Y
- 5.64%
- 3Y*
- 8.63%
- 5Y*
- 4.16%
- 10Y*
- —
- ALL TIME*
- 4.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $627.21K | $615.36K | $987.90K | |
| $552.78M | $427.44M | $406.45M |
HYXF vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 1.45% | 8.88% | 8.35% | 11.87% | -11.90% | 2.60% | 6.07% | 14.87% | -0.24% | -0.29% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 2.08% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 6.17% | 14.24% | -2.41% | 0.16% |
Correlation
The correlation between HYXF and USHY is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017 | 0.84 |
The correlation between HYXF and USHY has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.
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Return for Risk
HYXF vs. USHY — Risk / Return Rank
HYXF
USHY
HYXF vs. USHY - 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 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.
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 | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.29 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 2.33 | -0.44 |
| Martin ratioReturn relative to average drawdown | 8.39 | 10.25 | -1.86 |
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Drawdowns
HYXF vs. USHY - Drawdown Comparison
The maximum HYXF drawdown since its inception was -18.75%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for HYXF and USHY.
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Drawdown Indicators
| HYXF | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.75% | -22.44% | +3.69% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -2.43% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -4.81% | -4.66% | -0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -16.00% | -15.56% | -0.44% |
Max Drawdown (10Y)Largest decline over 10 years | -18.75% | — | — |
Current DrawdownCurrent decline from peak | -0.16% | -0.18% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -2.62% | +0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.55% | +0.03% |
Volatility
HYXF vs. USHY - Volatility Comparison
iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) and iShares Broad USD High Yield Corporate Bond ETF (USHY) have volatilities of 0.78% and 0.82%, 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
| HYXF | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.82% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 3.03% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.81% | 3.69% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.05% | 7.35% | +0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.26% | 8.18% | +0.08% |
HYXF vs. USHY - Expense Ratio Comparison
HYXF has a 0.35% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
HYXF vs. USHY - Dividend Comparison
HYXF's dividend yield for the trailing twelve months is around 6.07%, less than USHY's 6.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.95% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, HYXF 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 (0.82%) compared to HYXF (0.78%). In terms of maximum drawdown, HYXF dropped -18.75% vs USHY's -22.44%.
On 5-year performance, USHY leads with 4.16% vs 3.53% for HYXF. 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 4.16% return vs 3.53%. 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 0.35% for HYXF.
USHY has the higher dividend yield at 6.95%, compared with 6.07% for HYXF.
HYXF tracks Bloomberg MSCI US High Yield Corporate Choice ESG Screened, while USHY tracks ICE BofA US High Yield Constrained Index. Their fees differ too: 0.35% for HYXF and 0.15% for USHY.
USHY currently has the higher Sharpe Ratio (1.54 vs 1.28), 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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