JCPI vs. HYGH
JCPI (JPMorgan Inflation Managed Bond ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both exchange-traded funds - JCPI is a Inflation-Protected Bonds fund actively managed by JPMorgan, while HYGH is a High Yield Bonds fund actively managed by iShares. Both are actively managed. Over the past 3 years, JCPI returned 5.40%/yr vs 9.63%/yr for HYGH. At a 0.09 correlation, their price movements are largely independent. JCPI charges 0.25%/yr vs 0.53%/yr for HYGH.
Performance
JCPI vs. HYGH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, JCPI achieves a 1.34% return, which is significantly lower than HYGH's 3.24% return.
JCPI
- 1D
- -0.00%
- 1M
- -0.47%
- YTD
- 1.34%
- 6M
- 1.12%
- 1Y
- 4.86%
- 3Y*
- 5.40%
- 5Y*
- —
- 10Y*
- —
HYGH
- 1D
- 0.17%
- 1M
- 0.74%
- YTD
- 3.24%
- 6M
- 3.69%
- 1Y
- 8.03%
- 3Y*
- 9.63%
- 5Y*
- 7.00%
- 10Y*
- 6.50%
JCPI vs. HYGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JCPI JPMorgan Inflation Managed Bond ETF | 1.34% | 7.10% | 4.70% | 5.04% | -5.53% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 3.24% | 6.94% | 11.22% | 12.17% | 0.64% |
Correlation
The correlation between JCPI and HYGH is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2022 | 0.09 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
JCPI vs. HYGH — Risk / Return Rank
JCPI
HYGH
JCPI vs. HYGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Inflation Managed Bond ETF (JCPI) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH). 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.
| JCPI | HYGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.41 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.05 | 4.88 | -1.83 |
| Martin ratioReturn relative to average drawdown | 10.17 | 19.08 | -8.91 |
Loading charts...
Drawdowns
JCPI vs. HYGH - Drawdown Comparison
The maximum JCPI drawdown since its inception was -7.85%, smaller than the maximum HYGH drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for JCPI and HYGH.
Loading charts...
Drawdown Indicators
| JCPI | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.85% | -23.88% | +16.03% |
Max Drawdown (1Y)Largest decline over 1 year | -1.60% | -1.62% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -2.81% | -8.06% | +5.25% |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.88% | — |
Current DrawdownCurrent decline from peak | -0.74% | 0.00% | -0.74% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -2.22% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.41% | +0.07% |
Volatility
JCPI vs. HYGH - Volatility Comparison
JPMorgan Inflation Managed Bond ETF (JCPI) has a higher volatility of 0.90% compared to iShares Interest Rate Hedged High Yield Bond ETF (HYGH) at 0.68%. This indicates that JCPI's price experiences larger fluctuations and is considered to be riskier than HYGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| JCPI | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 0.68% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.06% | 2.80% | -0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.91% | 3.66% | -0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.49% | 7.07% | -2.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.49% | 8.34% | -3.85% |
JCPI vs. HYGH - Expense Ratio Comparison
JCPI has a 0.25% expense ratio, which is lower than HYGH's 0.53% expense ratio.
Dividends
JCPI vs. HYGH - Dividend Comparison
JCPI's dividend yield for the trailing twelve months is around 3.95%, less than HYGH's 6.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.60% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
JCPI JPMorgan Inflation Managed Bond ETF | 3.95% | 3.93% | 3.98% | 3.45% | 3.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JCPI and HYGH have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JCPI has higher volatility (0.90%) compared to HYGH (0.68%). In terms of maximum drawdown, JCPI dropped -7.85% vs HYGH's -23.88%.
On 3-year performance, HYGH leads with 9.63% vs 5.40% for JCPI. On fees, JCPI is cheaper at 0.25% per year. On volatility, HYGH has been the lower-risk option at 0.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYGH has performed better with a 9.63% return vs 5.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JCPI is cheaper with a 0.25% expense ratio, compared with 0.53% for HYGH.
HYGH has the higher dividend yield at 6.60%, compared with 3.95% for JCPI.
JCPI is categorized as Inflation-Protected Bonds, while HYGH is High Yield Bonds. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.25% for JCPI and 0.53% for HYGH.
HYGH currently has the higher Sharpe Ratio (2.16 vs 1.68), 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.
Find the right allocation for JCPI and HYGH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer