JPHY vs. VGHY

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan High Yield Research Enhanced ETF (JPHY) and Vanguard High-Yield Active ETF (VGHY).

JPHY and VGHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JPHY is an actively managed fund by JPMorgan. It was launched on Sep 14, 2016. VGHY is an actively managed fund by Vanguard. It was launched on Sep 16, 2025.

Performance

JPHY vs. VGHY - Performance Comparison

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

JPHY vs. VGHY - Yearly Performance Comparison

	2026 (YTD)	2025
JPHY JPMorgan High Yield Research Enhanced ETF	0.38%	1.45%
VGHY Vanguard High-Yield Active ETF	-0.05%	1.80%

Returns By Period

In the year-to-date period, JPHY achieves a 0.38% return, which is significantly higher than VGHY's -0.05% return.

JPHY

• 1D: 0.22%
• 1M: -0.10%
• YTD: 0.38%
• 6M: 1.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGHY

• 1D: 0.32%
• 1M: -0.78%
• YTD: -0.05%
• 6M: 1.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPHY vs. VGHY - Expense Ratio Comparison

JPHY has a 0.24% expense ratio, which is higher than VGHY's 0.22% 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%.

JPHY

JPMorgan High Yield Research Enhanced ETF

VGHY

Vanguard High-Yield Active ETF

Return for Risk

JPHY vs. VGHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan High Yield Research Enhanced ETF (JPHY) and Vanguard High-Yield Active ETF (VGHY). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	JPHY	VGHY	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.87	0.74	+1.13

Correlation

The correlation between JPHY and VGHY is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JPHY vs. VGHY - Dividend Comparison

JPHY's dividend yield for the trailing twelve months is around 4.91%, more than VGHY's 3.00% yield.

	TTM	2025
JPHY JPMorgan High Yield Research Enhanced ETF	4.91%	3.32%
VGHY Vanguard High-Yield Active ETF	3.00%	1.49%

Drawdowns

JPHY vs. VGHY - Drawdown Comparison

The maximum JPHY drawdown since its inception was -1.65%, smaller than the maximum VGHY drawdown of -2.66%. Use the drawdown chart below to compare losses from any high point for JPHY and VGHY.

Drawdown Indicators

	JPHY	VGHY	Difference
Max Drawdown Largest peak-to-trough decline	-1.65%	-2.66%	+1.01%
Current Drawdown Current decline from peak	-0.43%	-1.20%	+0.77%
Average Drawdown Average peak-to-trough decline	-0.23%	-0.45%	+0.22%

Volatility

Volatility by Period

	JPHY	VGHY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.09%	4.46%	-1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.09%	4.46%	-1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.09%	4.46%	-1.37%