MHY vs. MATE

Last updated Jun 6, 2026

MHY (Man Active High Yield ETF) and MATE (Man Active Trend Enhanced ETF) are both exchange-traded funds - MHY is a High Yield Bonds fund actively managed by Man Group, while MATE is a Tactical Allocation fund actively managed by Man Group. Both are actively managed. A 0.52 correlation means they provide meaningful diversification when combined. MHY charges 0.69%/yr vs 0.97%/yr for MATE.

Performance

MHY vs. MATE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Man Active High Yield ETF (MHY) and Man Active Trend Enhanced ETF (MATE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MHY achieves a 2.83% return, which is significantly lower than MATE's 14.79% return.

MHY

• 1D: 0.01%
• 1M: 0.39%
• YTD: 2.83%
• 6M: 3.41%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MATE

• 1D: -4.41%
• 1M: -0.27%
• YTD: 14.79%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MHY vs. MATE - Yearly Performance Comparison

	2026 (YTD)	2025
MHY Man Active High Yield ETF	2.83%	0.38%
MATE Man Active Trend Enhanced ETF	14.79%	4.27%

Correlation

The correlation between MHY and MATE is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.52

Return for Risk

MHY vs. MATE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Man Active High Yield ETF (MHY) and Man Active Trend Enhanced ETF (MATE). 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

	MHY	MATE	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.23	2.12	+0.11

Drawdowns

MHY vs. MATE - Drawdown Comparison

The maximum MHY drawdown since its inception was -1.58%, smaller than the maximum MATE drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for MHY and MATE.

Drawdown Indicators

	MHY	MATE	Difference
Max Drawdown Largest peak-to-trough decline	-1.58%	-13.24%	+11.66%
Current Drawdown Current decline from peak	-0.23%	-5.02%	+4.79%
Average Drawdown Average peak-to-trough decline	-0.31%	-3.26%	+2.95%

Volatility

Volatility by Period

	MHY	MATE	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.96%	22.65%	-19.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.96%	22.65%	-19.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.96%	22.65%	-19.69%

MHY vs. MATE - Expense Ratio Comparison

MHY has a 0.69% expense ratio, which is lower than MATE's 0.97% expense ratio.

Dividends

MHY vs. MATE - Dividend Comparison

MHY's dividend yield for the trailing twelve months is around 3.60%, while MATE has not paid dividends to shareholders.

Position	TTM	2025
MATE Man Active Trend Enhanced ETF	0.00%	0.00%
MHY Man Active High Yield ETF	3.60%	3.42%

Frequently Asked Questions

Can I hold both MHY and MATE in my portfolio?

MHY and MATE have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MHY or MATE?

On fees, MHY is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MHY or MATE?

MHY is cheaper with a 0.69% expense ratio, compared with 0.97% for MATE.

Which ETF pays a higher dividend yield, MHY or MATE?

MHY has the higher dividend yield at 3.60%, compared with 0.00% for MATE.

What is the main difference between MHY and MATE?

MHY is categorized as High Yield Bonds, while MATE is Tactical Allocation. Their fees differ too: 0.69% for MHY and 0.97% for MATE.