HYZD vs. DHS
HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) and DHS (WisdomTree US High Dividend Fund) are both exchange-traded funds - HYZD is a High Yield Bonds fund tracking the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index, while DHS is a Large Cap Value Equities fund tracking the WisdomTree U.S. High Dividend Index. Both are passively managed. Over the past 10 years, HYZD returned 5.40%/yr vs 9.67%/yr for DHS. Their 0.32 correlation means their historical movements had little consistent relationship. HYZD charges 0.43%/yr vs 0.38%/yr for DHS.
Performance
HYZD vs. DHS - Performance Comparison
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Returns By Period
In the year-to-date period, HYZD achieves a 3.90% return, which is significantly lower than DHS's 17.07% return. Over the past 10 years, HYZD has underperformed DHS with an annualized return of 5.40%, while DHS has yielded a comparatively higher 9.67% annualized return.
HYZD
- 1D
- 0.39%
- 1M
- 0.91%
- 6M
- 3.28%
- YTD
- 3.90%
- 1Y
- 7.88%
- 3Y*
- 8.79%
- 5Y*
- 6.43%
- 10Y*
- 5.40%
- ALL TIME*
- 4.43%
DHS
- 1D
- 0.35%
- 1M
- 1.94%
- 6M
- 9.42%
- YTD
- 17.07%
- 1Y
- 25.65%
- 3Y*
- 17.11%
- 5Y*
- 12.40%
- 10Y*
- 9.67%
- ALL TIME*
- 8.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.47M | $3.71M | $2.99M | |
| $1.61M | $1.76M | $1.59M |
HYZD vs. DHS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 3.90% | 7.67% | 9.39% | 11.17% | -2.35% | 6.27% | -0.63% | 9.17% | -2.21% | 6.32% |
DHS WisdomTree US High Dividend Fund | 17.07% | 12.87% | 18.02% | -0.19% | 7.97% | 23.20% | -5.70% | 22.59% | -7.41% | 11.69% |
Correlation
The correlation between HYZD and DHS is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.39 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.35 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013 | 0.32 |
Over the past year, the correlation between HYZD and DHS has dropped to 0.08 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.
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Return for Risk
HYZD vs. DHS — Risk / Return Rank
HYZD
DHS
HYZD vs. DHS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) and WisdomTree US High Dividend Fund (DHS). 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.
| HYZD | DHS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.43 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 4.09 | +0.05 |
| Martin ratioReturn relative to average drawdown | 18.11 | 15.00 | +3.10 |
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Drawdowns
HYZD vs. DHS - Drawdown Comparison
The maximum HYZD drawdown since its inception was -25.66%, smaller than the maximum DHS drawdown of -67.25%. Use the drawdown chart below to compare losses from any high point for HYZD and DHS.
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Drawdown Indicators
| HYZD | DHS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.66% | -67.25% | +41.59% |
Max Drawdown (1Y)Largest decline over 1 year | -1.91% | -6.30% | +4.39% |
Max Drawdown (3Y)Largest decline over 3 years | -5.85% | -11.87% | +6.02% |
Max Drawdown (5Y)Largest decline over 5 years | -8.97% | -15.28% | +6.31% |
Max Drawdown (10Y)Largest decline over 10 years | -25.66% | -37.35% | +11.69% |
Current DrawdownCurrent decline from peak | 0.00% | -1.89% | +1.89% |
Average DrawdownAverage peak-to-trough decline | -2.18% | -9.48% | +7.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 1.71% | -1.27% |
Volatility
HYZD vs. DHS - Volatility Comparison
The current volatility for WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) is 0.57%, while WisdomTree US High Dividend Fund (DHS) has a volatility of 3.77%. This indicates that HYZD experiences smaller price fluctuations and is considered to be less risky than DHS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYZD | DHS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 3.77% | -3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.41% | 7.84% | -5.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 10.40% | -7.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 13.91% | -7.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.51% | 16.10% | -7.59% |
HYZD vs. DHS - Expense Ratio Comparison
HYZD has a 0.43% expense ratio, which is higher than DHS's 0.38% expense ratio.
Dividends
HYZD vs. DHS - Dividend Comparison
HYZD's dividend yield for the trailing twelve months is around 5.87%, more than DHS's 3.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHS WisdomTree US High Dividend Fund | 3.18% | 3.32% | 3.66% | 4.31% | 3.42% | 3.29% | 4.14% | 3.69% | 3.76% | 3.00% | 3.25% | 3.53% |
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.87% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
Frequently Asked Questions
HYZD and DHS have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DHS has higher volatility (3.77%) compared to HYZD (0.57%). In terms of maximum drawdown, HYZD dropped -25.66% vs DHS's -67.25%.
On 10-year performance, DHS leads with 9.67% vs 5.40% for HYZD. On fees, DHS is cheaper at 0.38% per year. On volatility, HYZD has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DHS has performed better with a 9.67% return vs 5.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DHS is cheaper with a 0.38% expense ratio, compared with 0.43% for HYZD.
HYZD has the higher dividend yield at 5.87%, compared with 3.18% for DHS.
HYZD is categorized as High Yield Bonds, while DHS is Large Cap Value Equities. HYZD tracks WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index, while DHS tracks WisdomTree U.S. High Dividend Index. Their fees differ too: 0.43% for HYZD and 0.38% for DHS.
HYZD currently has the higher Sharpe Ratio (2.65 vs 2.48), 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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