ITWO vs. HYTI

Last updated Jun 25, 2026

ITWO (Proshares Russell 2000 High Income ETF) and HYTI (FT Vest High Yield & Target Income ETF) are both Derivative Income funds. ITWO is passively managed, while HYTI is actively managed. Over the past year, ITWO returned 39.64% vs 6.20% for HYTI. A 0.56 correlation means they provide meaningful diversification when combined. ITWO charges 0.55%/yr vs 0.65%/yr for HYTI.

Performance

ITWO vs. HYTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Russell 2000 High Income ETF (ITWO) and FT Vest High Yield & Target Income ETF (HYTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ITWO achieves a 21.97% return, which is significantly higher than HYTI's 1.84% return.

ITWO

• 1D: 0.37%
• 1M: 4.85%
• YTD: 21.97%
• 6M: 19.09%
• 1Y: 39.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYTI

• 1D: 0.10%
• 1M: 0.37%
• YTD: 1.84%
• 6M: 1.95%
• 1Y: 6.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ITWO vs. HYTI - Yearly Performance Comparison

	2026 (YTD)	2025
ITWO Proshares Russell 2000 High Income ETF	21.97%	12.59%
HYTI FT Vest High Yield & Target Income ETF	1.84%	7.01%

Correlation

The correlation between ITWO and HYTI is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.56

The correlation between ITWO and HYTI has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.

Return for Risk

ITWO vs. HYTI — Risk / Return Rank

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

ITWO

ITWO Risk / Return Rank: 74
ITWO Sharpe Ratio Rank: 74
ITWO Sortino Ratio Rank: 70
ITWO Omega Ratio Rank: 62
ITWO Calmar Ratio Rank: 84
ITWO Martin Ratio Rank: 79

HYTI

HYTI Risk / Return Rank: 59
HYTI Sharpe Ratio Rank: 54
HYTI Sortino Ratio Rank: 57
HYTI Omega Ratio Rank: 57
HYTI Calmar Ratio Rank: 61
HYTI Martin Ratio Rank: 69

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.

ITWO vs. HYTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Russell 2000 High Income ETF (ITWO) and FT Vest High Yield & Target Income ETF (HYTI). 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.

	ITWO	HYTI	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.61	+0.47
Sortino ratio: Return per unit of downside risk	2.80	2.39	+0.40
Omega ratio: Gain probability vs. loss probability	1.33	1.31	+0.03
Calmar ratio: Return relative to maximum drawdown	4.07	2.62	+1.45
Martin ratio: Return relative to average drawdown	13.64	11.02	+2.62

ITWO vs. HYTI - Sharpe Ratio Comparison

The current ITWO Sharpe Ratio is 2.08, which is comparable to the HYTI Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of ITWO and HYTI, 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

ITWO vs. HYTI - Drawdown Comparison

The maximum ITWO drawdown since its inception was -24.77%, which is greater than HYTI's maximum drawdown of -4.47%. Use the drawdown chart below to compare losses from any high point for ITWO and HYTI.

Drawdown Indicators

	ITWO	HYTI	Difference
Max Drawdown Largest peak-to-trough decline	-24.77%	-4.47%	-20.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-2.38%	-7.41%
Current Drawdown Current decline from peak	-0.45%	-0.21%	-0.24%
Average Drawdown Average peak-to-trough decline	-5.02%	-0.45%	-4.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	0.56%	+2.35%

Volatility

ITWO vs. HYTI - Volatility Comparison

Proshares Russell 2000 High Income ETF (ITWO) has a higher volatility of 6.63% compared to FT Vest High Yield & Target Income ETF (HYTI) at 1.02%. This indicates that ITWO's price experiences larger fluctuations and is considered to be riskier than HYTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITWO	HYTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.63%	1.02%	+5.61%
Volatility (6M) Calculated over the trailing 6-month period	14.07%	3.10%	+10.97%
Volatility (1Y) Calculated over the trailing 1-year period	19.20%	3.86%	+15.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.62%	5.16%	+15.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.62%	5.16%	+15.46%

ITWO vs. HYTI - Expense Ratio Comparison

ITWO has a 0.55% expense ratio, which is lower than HYTI's 0.65% expense ratio.

Dividends

ITWO vs. HYTI - Dividend Comparison

ITWO's dividend yield for the trailing twelve months is around 7.30%, less than HYTI's 10.40% yield.

Position	TTM	2025	2024
HYTI FT Vest High Yield & Target Income ETF	10.40%	8.10%	0.00%
ITWO Proshares Russell 2000 High Income ETF	7.30%	12.12%	4.11%

Frequently Asked Questions

Can I hold both ITWO and HYTI in my portfolio?

ITWO and HYTI have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITWO or HYTI?

ITWO has higher volatility (6.63%) compared to HYTI (1.02%). In terms of maximum drawdown, ITWO dropped -24.77% vs HYTI's -4.47%.

Which ETF is better, ITWO or HYTI?

On 1-year performance, ITWO leads with 39.64% vs 6.20% for HYTI. On fees, ITWO is cheaper at 0.55% per year. On volatility, HYTI has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ITWO or HYTI?

Over the 1-year period, ITWO has performed better with a 39.64% return vs 6.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ITWO or HYTI?

ITWO is cheaper with a 0.55% expense ratio, compared with 0.65% for HYTI.

Which ETF pays a higher dividend yield, ITWO or HYTI?

HYTI has the higher dividend yield at 10.40%, compared with 7.30% for ITWO.

What is the main difference between ITWO and HYTI?

They also come from different issuers: ProShares and FT Vest. Their fees differ too: 0.55% for ITWO and 0.65% for HYTI.

Which has better risk-adjusted returns?

ITWO currently has the higher Sharpe Ratio (2.08 vs 1.61), 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.