HYZD vs. NHYB
HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds - HYZD tracks the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index while NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index. Both are passively managed. At a 0.46 correlation, their price movements are largely independent. HYZD charges 0.43%/yr vs 0.08%/yr for NHYB.
Performance
HYZD vs. NHYB - Performance Comparison
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Returns By Period
In the year-to-date period, HYZD achieves a 2.95% return, which is significantly higher than NHYB's 1.91% return.
HYZD
- 1D
- -0.18%
- 1M
- 0.40%
- YTD
- 2.95%
- 6M
- 3.10%
- 1Y
- 7.29%
- 3Y*
- 9.45%
- 5Y*
- 6.14%
- 10Y*
- 5.67%
NHYB
- 1D
- -0.04%
- 1M
- 0.52%
- YTD
- 1.91%
- 6M
- 1.99%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYZD vs. NHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 2.95% | 1.69% |
NHYB Nuveen High Yield Corporate Bond ETF | 1.91% | 1.24% |
Correlation
The correlation between HYZD and NHYB is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025 | 0.46 |
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Return for Risk
HYZD vs. NHYB — Risk / Return Rank
HYZD
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYZD vs. NHYB - 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 Nuveen High Yield Corporate Bond ETF (NHYB). 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 | NHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.49 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | — | — |
| Martin ratioReturn relative to average drawdown | 16.42 | — | — |
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Drawdowns
HYZD vs. NHYB - Drawdown Comparison
The maximum HYZD drawdown since its inception was -25.66%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for HYZD and NHYB.
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Drawdown Indicators
| HYZD | NHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.66% | -2.40% | -23.26% |
Max Drawdown (1Y)Largest decline over 1 year | -1.91% | — | — |
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 DrawdownCurrent decline from peak | -0.18% | -0.20% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -2.19% | -0.36% | -1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | — | — |
Volatility
HYZD vs. NHYB - Volatility Comparison
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Volatility by Period
| HYZD | NHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.44% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.05% | 3.64% | -0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.71% | 3.64% | +3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.55% | 3.64% | +4.91% |
HYZD vs. NHYB - Expense Ratio Comparison
HYZD has a 0.43% expense ratio, which is higher than NHYB's 0.08% expense ratio.
Dividends
HYZD vs. NHYB - Dividend Comparison
HYZD's dividend yield for the trailing twelve months is around 5.86%, more than NHYB's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.86% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
NHYB Nuveen High Yield Corporate Bond ETF | 4.25% | 1.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYZD and NHYB have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NHYB is cheaper with a 0.08% expense ratio, compared with 0.43% for HYZD.
HYZD has the higher dividend yield at 5.86%, compared with 4.25% for NHYB.
HYZD tracks WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index, while NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index. They also come from different issuers: WisdomTree and Nuveen. Their fees differ too: 0.43% for HYZD and 0.08% for NHYB.
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