MHY vs. HYBX
MHY (Man Active High Yield ETF) and HYBX (TCW High Yield Bond ETF) are both High Yield Bonds funds. Both are actively managed. At a 0.25 correlation, their price movements are largely independent. MHY charges 0.69%/yr vs 0.50%/yr for HYBX.
Performance
MHY vs. HYBX - Performance Comparison
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Returns By Period
In the year-to-date period, MHY achieves a 4.43% return, which is significantly higher than HYBX's 2.89% return.
MHY
- 1D
- 0.12%
- 1M
- 1.66%
- YTD
- 4.43%
- 6M
- 4.28%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYBX
- 1D
- 0.15%
- 1M
- 0.34%
- YTD
- 2.89%
- 6M
- 2.53%
- 1Y
- 4.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MHY vs. HYBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MHY Man Active High Yield ETF | 4.43% | 1.54% |
HYBX TCW High Yield Bond ETF | 2.89% | 0.49% |
Correlation
The correlation between MHY and HYBX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.25 |
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Return for Risk
MHY vs. HYBX — Risk / Return Rank
MHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYBX
MHY vs. HYBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Man Active High Yield ETF (MHY) and TCW High Yield Bond ETF (HYBX). 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.
| MHY | HYBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.15 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.29 | — |
| Martin ratioReturn relative to average drawdown | — | 7.33 | — |
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Drawdowns
MHY vs. HYBX - Drawdown Comparison
The maximum MHY drawdown since its inception was -1.58%, smaller than the maximum HYBX drawdown of -3.93%. Use the drawdown chart below to compare losses from any high point for MHY and HYBX.
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Drawdown Indicators
| MHY | HYBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.58% | -3.93% | +2.35% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.15% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.23% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -0.29% | -0.56% | +0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.67% | — |
Volatility
MHY vs. HYBX - Volatility Comparison
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Volatility by Period
| MHY | HYBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.91% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.52% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 6.62% | -3.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.99% | 7.54% | -4.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.99% | 7.54% | -4.55% |
MHY vs. HYBX - Expense Ratio Comparison
MHY has a 0.69% expense ratio, which is higher than HYBX's 0.50% expense ratio.
Dividends
MHY vs. HYBX - Dividend Comparison
MHY's dividend yield for the trailing twelve months is around 5.29%, less than HYBX's 7.68% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
HYBX TCW High Yield Bond ETF | 7.68% | 7.82% | 1.08% |
MHY Man Active High Yield ETF | 5.29% | 3.42% | 0.00% |
Frequently Asked Questions
MHY and HYBX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYBX is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYBX is cheaper with a 0.50% expense ratio, compared with 0.69% for MHY.
HYBX has the higher dividend yield at 7.68%, compared with 5.29% for MHY.
They also come from different issuers: Man Group and TCW. Their fees differ too: 0.69% for MHY and 0.50% for HYBX.
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