MGV vs. HYGH
MGV (Vanguard Mega Cap Value ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both exchange-traded funds - MGV is a Large Cap Value Equities fund tracking the CRSP US Mega Cap Value Index, while HYGH is a High Yield Bonds fund actively managed by iShares. MGV is passively managed, while HYGH is actively managed. Over the past 10 years, MGV returned 13.15%/yr vs 6.50%/yr for HYGH. A 0.61 correlation means they provide meaningful diversification when combined. MGV charges 0.05%/yr vs 0.53%/yr for HYGH.
Performance
MGV vs. HYGH - Performance Comparison
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Returns By Period
In the year-to-date period, MGV achieves a 15.50% return, which is significantly higher than HYGH's 3.24% return. Over the past 10 years, MGV has outperformed HYGH with an annualized return of 13.15%, while HYGH has yielded a comparatively lower 6.50% annualized return.
MGV
- 1D
- 0.90%
- 1M
- 4.18%
- YTD
- 15.50%
- 6M
- 15.37%
- 1Y
- 28.69%
- 3Y*
- 18.98%
- 5Y*
- 12.53%
- 10Y*
- 13.15%
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%
MGV vs. HYGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGV Vanguard Mega Cap Value ETF | 15.50% | 15.45% | 16.94% | 9.16% | -1.22% | 25.93% | 2.50% | 25.54% | -4.13% | 16.85% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 3.24% | 6.94% | 11.22% | 12.17% | -0.92% | 5.82% | 0.54% | 11.09% | -0.85% | 6.38% |
Correlation
The correlation between MGV and HYGH is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since May 29, 2014 | 0.61 |
The correlation between MGV and HYGH shifts across timeframes, from 0.47 (1 year) to 0.63 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
MGV vs. HYGH — Risk / Return Rank
MGV
HYGH
MGV vs. HYGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Value ETF (MGV) 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.
| MGV | HYGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.41 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.36 | 4.88 | -0.52 |
| Martin ratioReturn relative to average drawdown | 16.56 | 19.08 | -2.52 |
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Drawdowns
MGV vs. HYGH - Drawdown Comparison
The maximum MGV drawdown since its inception was -56.07%, which is greater than HYGH's maximum drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for MGV and HYGH.
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Drawdown Indicators
| MGV | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.07% | -23.88% | -32.19% |
Max Drawdown (1Y)Largest decline over 1 year | -6.42% | -1.62% | -4.80% |
Max Drawdown (3Y)Largest decline over 3 years | -13.18% | -8.06% | -5.12% |
Max Drawdown (5Y)Largest decline over 5 years | -16.54% | -8.24% | -8.30% |
Max Drawdown (10Y)Largest decline over 10 years | -35.41% | -23.88% | -11.53% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -7.78% | -2.22% | -5.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 0.41% | +1.28% |
Volatility
MGV vs. HYGH - Volatility Comparison
Vanguard Mega Cap Value ETF (MGV) has a higher volatility of 3.33% compared to iShares Interest Rate Hedged High Yield Bond ETF (HYGH) at 0.68%. This indicates that MGV'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.
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Volatility by Period
| MGV | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 0.68% | +2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 7.77% | 2.80% | +4.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.13% | 3.66% | +6.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.61% | 7.07% | +6.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.35% | 8.34% | +8.01% |
MGV vs. HYGH - Expense Ratio Comparison
MGV has a 0.05% expense ratio, which is lower than HYGH's 0.53% expense ratio.
Dividends
MGV vs. HYGH - Dividend Comparison
MGV's dividend yield for the trailing twelve months is around 1.85%, 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% |
MGV Vanguard Mega Cap Value ETF | 1.85% | 2.04% | 2.31% | 2.48% | 2.45% | 2.17% | 2.47% | 2.69% | 2.65% | 2.34% | 2.53% | 2.59% |
Frequently Asked Questions
MGV and HYGH have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGV has higher volatility (3.33%) compared to HYGH (0.68%). In terms of maximum drawdown, MGV dropped -56.07% vs HYGH's -23.88%.
On 10-year performance, MGV leads with 13.15% vs 6.50% for HYGH. On fees, MGV is cheaper at 0.05% 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 10-year period, MGV has performed better with a 13.15% return vs 6.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MGV is cheaper with a 0.05% expense ratio, compared with 0.53% for HYGH.
HYGH has the higher dividend yield at 6.60%, compared with 1.85% for MGV.
MGV is categorized as Large Cap Value Equities, while HYGH is High Yield Bonds. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for MGV and 0.53% for HYGH.
MGV currently has the higher Sharpe Ratio (2.76 vs 2.16), 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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