MHY vs. HYHG
MHY (Man Active High Yield ETF) and HYHG (ProShares High Yield-Interest Rate Hedged) are both High Yield Bonds funds. MHY is actively managed, while HYHG is passively managed. At a 0.30 correlation, their price movements are largely independent. MHY charges 0.69%/yr vs 0.50%/yr for HYHG.
Performance
MHY vs. HYHG - Performance Comparison
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Returns By Period
In the year-to-date period, MHY achieves a 5.53% return, which is significantly higher than HYHG's 4.17% return.
MHY
- 1D
- 0.18%
- 1M
- 1.72%
- 6M
- 4.79%
- YTD
- 5.53%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYHG
- 1D
- 0.32%
- 1M
- 0.66%
- 6M
- 3.59%
- YTD
- 4.17%
- 1Y
- 7.22%
- 3Y*
- 9.20%
- 5Y*
- 7.13%
- 10Y*
- 5.97%
MHY vs. HYHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MHY Man Active High Yield ETF | 5.53% | 1.54% |
HYHG ProShares High Yield-Interest Rate Hedged | 4.17% | 1.46% |
Correlation
The correlation between MHY and HYHG is 0.30, 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 | 0.30 |
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Return for Risk
MHY vs. HYHG — Risk / Return Rank
MHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYHG
MHY vs. HYHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Man Active High Yield ETF (MHY) and ProShares High Yield-Interest Rate Hedged (HYHG). 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 | HYHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.23 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.59 | — |
| Martin ratioReturn relative to average drawdown | — | 11.95 | — |
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Drawdowns
MHY vs. HYHG - Drawdown Comparison
The maximum MHY drawdown since its inception was -1.58%, smaller than the maximum HYHG drawdown of -25.71%. Use the drawdown chart below to compare losses from any high point for MHY and HYHG.
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Drawdown Indicators
| MHY | HYHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.58% | -25.71% | +24.13% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.02% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.47% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.21% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.71% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.05% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -3.02% | +2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.61% | — |
Volatility
MHY vs. HYHG - Volatility Comparison
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Volatility by Period
| MHY | HYHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.19% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.99% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.94% | 5.63% | -2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.94% | 8.18% | -5.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.94% | 9.07% | -6.13% |
MHY vs. HYHG - Expense Ratio Comparison
MHY has a 0.69% expense ratio, which is higher than HYHG's 0.50% expense ratio.
Dividends
MHY vs. HYHG - Dividend Comparison
MHY's dividend yield for the trailing twelve months is around 5.23%, less than HYHG's 6.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.70% | 6.97% | 6.57% | 6.07% | 5.58% | 4.54% | 5.21% | 6.06% | 6.45% | 5.57% | 5.37% | 6.37% |
MHY Man Active High Yield ETF | 5.23% | 3.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MHY and HYHG have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYHG is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYHG is cheaper with a 0.50% expense ratio, compared with 0.69% for MHY.
HYHG has the higher dividend yield at 6.70%, compared with 5.23% for MHY.
They also come from different issuers: Man Group and ProShares. Their fees differ too: 0.69% for MHY and 0.50% for HYHG.
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