JPHY vs. HYLB

Last updated Jun 26, 2026

JPHY (JPMorgan High Yield Research Enhanced ETF) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. JPHY is actively managed, while HYLB is passively managed. Over the past year, JPHY returned 6.32% vs 5.91% for HYLB. Their correlation of 0.87 suggests significant overlap in exposure. JPHY charges 0.24%/yr vs 0.15%/yr for HYLB.

Performance

JPHY vs. HYLB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan High Yield Research Enhanced ETF (JPHY) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPHY achieves a 2.24% return, which is significantly higher than HYLB's 1.73% return.

JPHY

• 1D: 0.02%
• 1M: 0.26%
• YTD: 2.24%
• 6M: 2.21%
• 1Y: 6.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYLB

• 1D: 0.03%
• 1M: 0.16%
• YTD: 1.73%
• 6M: 1.70%
• 1Y: 5.91%
• 3Y*: 8.93%
• 5Y*: 3.92%
• 10Y*: —

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

JPHY vs. HYLB - Yearly Performance Comparison

	2026 (YTD)	2025
JPHY JPMorgan High Yield Research Enhanced ETF	2.24%	4.06%
HYLB Xtrackers USD High Yield Corporate Bond ETF	1.73%	4.08%

Correlation

The correlation between JPHY and HYLB is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.87

The correlation between JPHY and HYLB has been stable across timeframes, ranging from 0.87 to 0.87 - a consistent structural relationship.

Return for Risk

JPHY vs. HYLB — Risk / Return Rank

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

JPHY

JPHY Risk / Return Rank: 84
JPHY Sharpe Ratio Rank: 76
JPHY Sortino Ratio Rank: 86
JPHY Omega Ratio Rank: 84
JPHY Calmar Ratio Rank: 82
JPHY Martin Ratio Rank: 90

HYLB

HYLB Risk / Return Rank: 60
HYLB Sharpe Ratio Rank: 53
HYLB Sortino Ratio Rank: 58
HYLB Omega Ratio Rank: 58
HYLB Calmar Ratio Rank: 61
HYLB 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.

JPHY vs. HYLB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan High Yield Research Enhanced ETF (JPHY) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). 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.

	JPHY	HYLB	Difference
Sharpe ratio: Return per unit of total volatility	2.12	1.58	+0.54
Sortino ratio: Return per unit of downside risk	3.36	2.40	+0.96
Omega ratio: Gain probability vs. loss probability	1.44	1.31	+0.13
Calmar ratio: Return relative to maximum drawdown	3.85	2.61	+1.24
Martin ratio: Return relative to average drawdown	17.77	11.16	+6.61

JPHY vs. HYLB - Sharpe Ratio Comparison

The current JPHY Sharpe Ratio is 2.12, which is higher than the HYLB Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of JPHY and HYLB, 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

JPHY vs. HYLB - Drawdown Comparison

The maximum JPHY drawdown since its inception was -1.65%, smaller than the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for JPHY and HYLB.

Drawdown Indicators

	JPHY	HYLB	Difference
Max Drawdown Largest peak-to-trough decline	-1.65%	-22.91%	+21.26%
Max Drawdown (1Y) Largest decline over 1 year	-1.65%	-2.27%	+0.62%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.54%	—
Current Drawdown Current decline from peak	-0.13%	-0.16%	+0.03%
Average Drawdown Average peak-to-trough decline	-0.21%	-2.42%	+2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	0.53%	-0.17%

Volatility

JPHY vs. HYLB - Volatility Comparison

The current volatility for JPMorgan High Yield Research Enhanced ETF (JPHY) is 0.61%, while Xtrackers USD High Yield Corporate Bond ETF (HYLB) has a volatility of 1.00%. This indicates that JPHY experiences smaller price fluctuations and is considered to be less risky than HYLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPHY	HYLB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	1.00%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	2.31%	3.01%	-0.70%
Volatility (1Y) Calculated over the trailing 1-year period	3.00%	3.75%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.00%	7.48%	-4.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.00%	8.16%	-5.16%

JPHY vs. HYLB - Expense Ratio Comparison

JPHY has a 0.24% expense ratio, which is higher than HYLB's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JPHY vs. HYLB - Dividend Comparison

JPHY's dividend yield for the trailing twelve months is around 5.91%, less than HYLB's 6.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
HYLB Xtrackers USD High Yield Corporate Bond ETF	6.47%	6.29%	6.31%	5.84%	5.53%	4.45%	5.22%	5.71%	5.95%	5.85%	0.27%
JPHY JPMorgan High Yield Research Enhanced ETF	5.91%	3.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPHY and HYLB in my portfolio?

JPHY and HYLB have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPHY or HYLB?

HYLB has higher volatility (1.00%) compared to JPHY (0.61%). In terms of maximum drawdown, JPHY dropped -1.65% vs HYLB's -22.91%.

Which ETF is better, JPHY or HYLB?

On 1-year performance, JPHY leads with 6.32% vs 5.91% for HYLB. On fees, HYLB is cheaper at 0.15% per year. On volatility, JPHY has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPHY or HYLB?

Over the 1-year period, JPHY has performed better with a 6.32% return vs 5.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPHY or HYLB?

HYLB is cheaper with a 0.15% expense ratio, compared with 0.24% for JPHY.

Which ETF pays a higher dividend yield, JPHY or HYLB?

HYLB has the higher dividend yield at 6.47%, compared with 5.91% for JPHY.

What is the main difference between JPHY and HYLB?

They also come from different issuers: JPMorgan and DWS. Their fees differ too: 0.24% for JPHY and 0.15% for HYLB.

Which has better risk-adjusted returns?

JPHY currently has the higher Sharpe Ratio (2.12 vs 1.58), 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.