LGND vs. HYG
LGND (Ligand Pharmaceuticals Incorporated) is a stock, while HYG (iShares iBoxx $ High Yield Corporate Bond ETF) is High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index. Over the past 10 years, LGND returned 9.81%/yr vs 4.99%/yr for HYG. At a 0.30 correlation, their price movements are largely independent.
Performance
LGND vs. HYG - Performance Comparison
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Returns By Period
In the year-to-date period, LGND achieves a 50.69% return, which is significantly higher than HYG's 1.54% return. Over the past 10 years, LGND has outperformed HYG with an annualized return of 9.81%, while HYG has yielded a comparatively lower 4.99% annualized return.
LGND
- 1D
- 1.96%
- 1M
- 24.24%
- YTD
- 50.69%
- 6M
- 44.52%
- 1Y
- 141.00%
- 3Y*
- 57.38%
- 5Y*
- 15.37%
- 10Y*
- 9.81%
HYG
- 1D
- -0.03%
- 1M
- 0.44%
- YTD
- 1.54%
- 6M
- 1.53%
- 1Y
- 5.62%
- 3Y*
- 8.74%
- 5Y*
- 3.66%
- 10Y*
- 4.99%
LGND vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LGND Ligand Pharmaceuticals Incorporated | 50.69% | 76.45% | 50.03% | 6.92% | -56.75% | 55.31% | -4.64% | -23.15% | -0.90% | 34.76% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.54% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
Correlation
The correlation between LGND and HYG is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2007 | 0.30 |
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Return for Risk
LGND vs. HYG — Risk / Return Rank
LGND
HYG
LGND vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ligand Pharmaceuticals Incorporated (LGND) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
| LGND | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.33 | ||
| Sortino ratioReturn per unit of downside risk | +1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.28 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 10.08 | 2.41 | +7.67 |
| Martin ratioReturn relative to average drawdown | 25.50 | 10.57 | +14.92 |
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Drawdowns
LGND vs. HYG - Drawdown Comparison
The maximum LGND drawdown since its inception was -93.34%, which is greater than HYG's maximum drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for LGND and HYG.
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Drawdown Indicators
| LGND | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.34% | -34.25% | -59.09% |
Max Drawdown (1Y)Largest decline over 1 year | -14.07% | -2.34% | -11.73% |
Max Drawdown (3Y)Largest decline over 3 years | -31.79% | -4.56% | -27.23% |
Max Drawdown (5Y)Largest decline over 5 years | -70.11% | -15.79% | -54.32% |
Max Drawdown (10Y)Largest decline over 10 years | -81.94% | -22.03% | -59.91% |
Current DrawdownCurrent decline from peak | 0.00% | -0.24% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -44.51% | -3.23% | -41.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.58% | 0.53% | +5.05% |
Volatility
LGND vs. HYG - Volatility Comparison
Ligand Pharmaceuticals Incorporated (LGND) has a higher volatility of 10.36% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 1.13%. This indicates that LGND's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LGND | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.36% | 1.13% | +9.23% |
Volatility (6M)Calculated over the trailing 6-month period | 29.09% | 3.11% | +25.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.54% | 3.88% | +33.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.20% | 7.54% | +36.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.46% | 8.27% | +37.19% |
Dividends
LGND vs. HYG - Dividend Comparison
LGND has not paid dividends to shareholders, while HYG's dividend yield for the trailing twelve months is around 5.91%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.91% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
LGND Ligand Pharmaceuticals Incorporated | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LGND and HYG have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LGND has higher volatility (10.36%) compared to HYG (1.13%). In terms of maximum drawdown, LGND dropped -93.34% vs HYG's -34.25%.
LGND currently has the higher Sharpe Ratio (3.79 vs 1.46), 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.
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