JLQD vs. HYGH
JLQD (Janus Henderson Corporate Bond ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both exchange-traded funds - JLQD is a Corporate Bonds fund tracking the Bloomberg U.S. Corporate Bond Index, while HYGH is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Interest Hedged Index. Both are passively managed. Over the past 3 years, JLQD returned 5.65%/yr vs 9.87%/yr for HYGH. At a 0.25 correlation, their price movements are largely independent. JLQD charges 0.20%/yr vs 0.52%/yr for HYGH.
Performance
JLQD vs. HYGH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, JLQD achieves a 0.56% return, which is significantly lower than HYGH's 3.33% return.
JLQD
- 1D
- 0.02%
- 1M
- 0.92%
- YTD
- 0.56%
- 6M
- 0.72%
- 1Y
- 5.33%
- 3Y*
- 5.65%
- 5Y*
- —
- 10Y*
- —
HYGH
- 1D
- -0.03%
- 1M
- 0.56%
- YTD
- 3.33%
- 6M
- 3.56%
- 1Y
- 7.74%
- 3Y*
- 9.87%
- 5Y*
- 6.91%
- 10Y*
- 6.48%
JLQD vs. HYGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JLQD Janus Henderson Corporate Bond ETF | 0.56% | 7.77% | 3.21% | 8.76% | -15.99% | -1.00% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 3.33% | 6.94% | 11.22% | 12.17% | -0.92% | 1.66% |
Correlation
The correlation between JLQD and HYGH 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 (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2021 | 0.25 |
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
JLQD vs. HYGH — Risk / Return Rank
JLQD
HYGH
JLQD vs. HYGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Corporate Bond ETF (JLQD) 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.
| JLQD | HYGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.40 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 4.80 | -2.93 |
| Martin ratioReturn relative to average drawdown | 6.33 | 18.77 | -12.43 |
Loading charts...
Drawdowns
JLQD vs. HYGH - Drawdown Comparison
The maximum JLQD drawdown since its inception was -21.17%, smaller than the maximum HYGH drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for JLQD and HYGH.
Loading charts...
Drawdown Indicators
| JLQD | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.17% | -23.88% | +2.71% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -1.62% | -1.25% |
Max Drawdown (3Y)Largest decline over 3 years | -6.84% | -8.06% | +1.22% |
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 | -0.66% | -0.08% | -0.58% |
Average DrawdownAverage peak-to-trough decline | -8.68% | -2.22% | -6.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.41% | +0.43% |
Volatility
JLQD vs. HYGH - Volatility Comparison
Janus Henderson Corporate Bond ETF (JLQD) has a higher volatility of 0.93% compared to iShares Interest Rate Hedged High Yield Bond ETF (HYGH) at 0.63%. This indicates that JLQD'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
| JLQD | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.63% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 2.81% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.78% | 3.64% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.29% | 7.08% | -0.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.29% | 8.30% | -2.01% |
JLQD vs. HYGH - Expense Ratio Comparison
JLQD has a 0.20% expense ratio, which is lower than HYGH's 0.52% expense ratio.
Dividends
JLQD vs. HYGH - Dividend Comparison
JLQD's dividend yield for the trailing twelve months is around 5.43%, 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% |
JLQD Janus Henderson Corporate Bond ETF | 5.43% | 5.28% | 5.36% | 3.99% | 2.77% | 0.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JLQD and HYGH 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.
JLQD has higher volatility (0.93%) compared to HYGH (0.63%). In terms of maximum drawdown, JLQD dropped -21.17% vs HYGH's -23.88%.
On 3-year performance, HYGH leads with 9.87% vs 5.65% for JLQD. On fees, JLQD is cheaper at 0.20% per year. On volatility, HYGH has been the lower-risk option at 0.63%. 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 9.87% return vs 5.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JLQD is cheaper with a 0.20% expense ratio, compared with 0.52% for HYGH.
HYGH has the higher dividend yield at 6.60%, compared with 5.43% for JLQD.
JLQD is categorized as Corporate Bonds, while HYGH is High Yield Bonds. JLQD tracks Bloomberg U.S. Corporate Bond Index, while HYGH tracks Markit iBoxx USD Liquid High Yield Interest Hedged Index. They also come from different issuers: Janus Henderson and iShares. Their fees differ too: 0.20% for JLQD and 0.52% for HYGH.
HYGH currently has the higher Sharpe Ratio (2.14 vs 1.42), 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 JLQD 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