HYZD vs. HYSD

Last updated Jul 14, 2026

HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) and HYSD (Columbia Short Duration High Yield ETF) are both High Yield Bonds funds. HYZD is passively managed, while HYSD is actively managed. Over the past year, HYZD returned 6.93% vs 5.73% for HYSD. At a 0.38 correlation, their price movements are largely independent. HYZD charges 0.43%/yr vs 0.44%/yr for HYSD.

Performance

HYZD vs. HYSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) and Columbia Short Duration High Yield ETF (HYSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYZD achieves a 3.22% return, which is significantly higher than HYSD's 2.06% return.

HYZD

• 1D: 0.06%
• 1M: 0.48%
• 6M: 2.68%
• YTD: 3.22%
• 1Y: 6.93%
• 3Y*: 8.61%
• 5Y*: 6.13%
• 10Y*: 5.37%

HYSD

• 1D: -0.12%
• 1M: 0.30%
• 6M: 1.73%
• YTD: 2.06%
• 1Y: 5.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HYZD vs. HYSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund	3.22%	7.67%	3.62%
HYSD Columbia Short Duration High Yield ETF	2.06%	7.74%	0.94%

Correlation

The correlation between HYZD and HYSD is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.38

Return for Risk

HYZD vs. HYSD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYZD

HYZD Risk / Return Rank: 89
HYZD Sharpe Ratio Rank: 89
HYZD Sortino Ratio Rank: 93
HYZD Omega Ratio Rank: 91
HYZD Calmar Ratio Rank: 84
HYZD Martin Ratio Rank: 89

HYSD

HYSD Risk / Return Rank: 87
HYSD Sharpe Ratio Rank: 82
HYSD Sortino Ratio Rank: 88
HYSD Omega Ratio Rank: 87
HYSD Calmar Ratio Rank: 87
HYSD Martin Ratio Rank: 92

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.

HYZD vs. HYSD - 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 Columbia Short Duration High Yield ETF (HYSD). 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	HYSD	Difference
Sharpe ratio: Return per unit of total volatility	2.32	2.06	+0.26
Sortino ratio: Return per unit of downside risk	3.72	3.23	+0.50
Omega ratio: Gain probability vs. loss probability	1.48	1.42	+0.06
Calmar ratio: Return relative to maximum drawdown	3.65	3.95	-0.30
Martin ratio: Return relative to average drawdown	15.70	17.55	-1.85

HYZD vs. HYSD - Sharpe Ratio Comparison

The current HYZD Sharpe Ratio is 2.32, which is comparable to the HYSD Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of HYZD and HYSD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HYZD vs. HYSD - Drawdown Comparison

The maximum HYZD drawdown since its inception was -25.66%, which is greater than HYSD's maximum drawdown of -2.69%. Use the drawdown chart below to compare losses from any high point for HYZD and HYSD.

Drawdown Indicators

	HYZD	HYSD	Difference
Max Drawdown Largest peak-to-trough decline	-25.66%	-2.69%	-22.97%
Max Drawdown (1Y) Largest decline over 1 year	-1.91%	-1.46%	-0.45%
Max Drawdown (3Y) Largest decline over 3 years	-5.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-8.97%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-25.66%	—	—
Current Drawdown Current decline from peak	0.00%	-0.31%	+0.31%
Average Drawdown Average peak-to-trough decline	-2.19%	-0.25%	-1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	0.33%	+0.11%

Volatility

HYZD vs. HYSD - Volatility Comparison

WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) and Columbia Short Duration High Yield ETF (HYSD) have volatilities of 0.67% and 0.69%, 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.

Volatility by Period

	HYZD	HYSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	0.69%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.44%	2.23%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	3.01%	2.80%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.70%	3.46%	+3.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.52%	3.46%	+5.06%

HYZD vs. HYSD - Expense Ratio Comparison

HYZD has a 0.43% expense ratio, which is lower than HYSD's 0.44% expense ratio.

Dividends

HYZD vs. HYSD - Dividend Comparison

HYZD's dividend yield for the trailing twelve months is around 5.88%, which matches HYSD's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYSD Columbia Short Duration High Yield ETF	5.83%	5.60%	1.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund	5.88%	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

Can I hold both HYZD and HYSD in my portfolio?

HYZD and HYSD have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYZD or HYSD?

HYSD has higher volatility (0.69%) compared to HYZD (0.67%). In terms of maximum drawdown, HYZD dropped -25.66% vs HYSD's -2.69%.

Which ETF is better, HYZD or HYSD?

On 1-year performance, HYZD leads with 6.93% vs 5.73% for HYSD. On fees, HYZD is cheaper at 0.43% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYZD or HYSD?

Over the 1-year period, HYZD has performed better with a 6.93% return vs 5.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYZD or HYSD?

HYZD is cheaper with a 0.43% expense ratio, compared with 0.44% for HYSD.

Which ETF pays a higher dividend yield, HYZD or HYSD?

HYZD has the higher dividend yield at 5.88%, compared with 5.83% for HYSD.

What is the main difference between HYZD and HYSD?

They also come from different issuers: WisdomTree and Columbia. Their fees differ too: 0.43% for HYZD and 0.44% for HYSD.

Which has better risk-adjusted returns?

HYZD currently has the higher Sharpe Ratio (2.32 vs 2.06), 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.