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IHYF vs. HYGW
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

IHYF vs. HYGW

Last updated May 14, 2025

Compare and contrast key facts about Invesco High Yield Bond Factor ETF (IHYF) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW).

IHYF and HYGW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IHYF is an actively managed fund by Invesco. It was launched on Nov 30, 2020. HYGW is a passively managed fund by iShares that tracks the performance of the Cboe HYG BuyWrite Index. It was launched on Aug 18, 2022.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IHYF or HYGW.

Correlation

The correlation between IHYF and HYGW is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Performance

IHYF vs. HYGW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco High Yield Bond Factor ETF (IHYF) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

IHYF:

1.53

HYGW:

1.14

Sortino Ratio

IHYF:

2.13

HYGW:

1.59

Omega Ratio

IHYF:

1.36

HYGW:

1.27

Calmar Ratio

IHYF:

1.63

HYGW:

1.43

Martin Ratio

IHYF:

7.30

HYGW:

8.07

Ulcer Index

IHYF:

1.18%

HYGW:

0.60%

Daily Std Dev

IHYF:

5.68%

HYGW:

4.25%

Max Drawdown

IHYF:

-15.96%

HYGW:

-5.49%

Current Drawdown

IHYF:

-0.25%

HYGW:

-0.50%

Returns By Period

In the year-to-date period, IHYF achieves a 2.09% return, which is significantly higher than HYGW's 0.79% return.

IHYF

YTD

2.09%

1M

4.26%

6M

2.98%

1Y

8.66%

5Y*

N/A

10Y*

N/A

HYGW

YTD

0.79%

1M

1.83%

6M

0.57%

1Y

4.82%

5Y*

N/A

10Y*

N/A

*Annualized

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IHYF vs. HYGW - Expense Ratio Comparison

IHYF has a 0.39% expense ratio, which is lower than HYGW's 0.69% expense ratio.

HYGW
iShares High Yield Corporate Bond Buywrite Strategy ETF
IHYF
Invesco High Yield Bond Factor ETF

Risk-Adjusted Performance

IHYF vs. HYGW — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IHYF
The Risk-Adjusted Performance Rank of IHYF is 9090
Overall Rank
The Sharpe Ratio Rank of IHYF is 9191
Sharpe Ratio Rank
The Sortino Ratio Rank of IHYF is 9090
Sortino Ratio Rank
The Omega Ratio Rank of IHYF is 9292
Omega Ratio Rank
The Calmar Ratio Rank of IHYF is 9090
Calmar Ratio Rank
The Martin Ratio Rank of IHYF is 8989
Martin Ratio Rank
HYGW
The Risk-Adjusted Performance Rank of HYGW is 8787
Overall Rank
The Sharpe Ratio Rank of HYGW is 8585
Sharpe Ratio Rank
The Sortino Ratio Rank of HYGW is 8383
Sortino Ratio Rank
The Omega Ratio Rank of HYGW is 8888
Omega Ratio Rank
The Calmar Ratio Rank of HYGW is 8787
Calmar Ratio Rank
The Martin Ratio Rank of HYGW is 9090
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

IHYF vs. HYGW - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Bond Factor ETF (IHYF) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.

The current IHYF Sharpe Ratio is 1.53, which is higher than the HYGW Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of IHYF and HYGW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Dividends

IHYF vs. HYGW - Dividend Comparison

IHYF's dividend yield for the trailing twelve months is around 7.19%, less than HYGW's 12.49% yield.

TTM2024202320222021
IHYF
Invesco High Yield Bond Factor ETF		7.19%7.20%6.76%6.16%4.87%
HYGW
iShares High Yield Corporate Bond Buywrite Strategy ETF		12.49%12.29%15.98%8.72%0.00%

Drawdowns

IHYF vs. HYGW - Drawdown Comparison

The maximum IHYF drawdown since its inception was -15.96%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for IHYF and HYGW. For additional features, visit the drawdowns tool.

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Volatility

IHYF vs. HYGW - Volatility Comparison

Invesco High Yield Bond Factor ETF (IHYF) has a higher volatility of 1.87% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 1.08%. This indicates that IHYF's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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