MUSQ vs. HYLD

Last updated Jun 23, 2026

MUSQ (MUSQ Global Music Industry Index ETF) and HYLD (High Yield ETF) are both exchange-traded funds - MUSQ is a Communications Equities fund tracking the MUSQ Global Music Industry Index, while HYLD is a High Yield Bonds fund actively managed by Exchange Traded Concepts. MUSQ is passively managed, while HYLD is actively managed. At a 0.05 correlation, their price movements are largely independent. MUSQ charges 0.76%/yr vs 1.29%/yr for HYLD.

Performance

MUSQ vs. HYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MUSQ Global Music Industry Index ETF (MUSQ) and High Yield ETF (HYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MUSQ

• 1D: -2.32%
• 1M: -6.08%
• YTD: -11.86%
• 6M: -10.42%
• 1Y: -9.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYLD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MUSQ vs. HYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MUSQ MUSQ Global Music Industry Index ETF	-11.86%	19.60%	-4.94%	0.81%
HYLD High Yield ETF	0.00%	0.00%	0.00%	1.38%

Correlation

The correlation between MUSQ and HYLD is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023	0.05

Return for Risk

MUSQ vs. HYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MUSQ

MUSQ Risk / Return Rank: 4
MUSQ Sharpe Ratio Rank: 4
MUSQ Sortino Ratio Rank: 4
MUSQ Omega Ratio Rank: 4
MUSQ Calmar Ratio Rank: 5
MUSQ Martin Ratio Rank: 4

HYLD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MUSQ vs. HYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MUSQ Global Music Industry Index ETF (MUSQ) and High Yield ETF (HYLD). 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.

	MUSQ	HYLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.57	—	—
Sortino ratio: Return per unit of downside risk	-0.70	—	—
Omega ratio: Gain probability vs. loss probability	0.92	—	—
Calmar ratio: Return relative to maximum drawdown	-0.42	—	—
Martin ratio: Return relative to average drawdown	-0.97	—	—

Drawdowns

Drawdown Indicators

	MUSQ	HYLD	Difference
Max Drawdown Largest peak-to-trough decline	-23.11%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-23.11%	—	—
Current Drawdown Current decline from peak	-17.77%	—	—
Average Drawdown Average peak-to-trough decline	-6.73%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	10.07%	—	—

Volatility

Volatility by Period

	MUSQ	HYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.97%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.31%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.95%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.95%	—	—

MUSQ vs. HYLD - Expense Ratio Comparison

MUSQ has a 0.76% expense ratio, which is lower than HYLD's 1.29% expense ratio.

Dividends

MUSQ vs. HYLD - Dividend Comparison

MUSQ's dividend yield for the trailing twelve months is around 0.72%, while HYLD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYLD High Yield ETF	0.00%	0.00%	0.00%	4.67%	7.86%	6.45%	7.52%	7.46%	7.97%	7.18%	6.59%	10.87%
MUSQ MUSQ Global Music Industry Index ETF	0.72%	0.63%	1.08%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MUSQ and HYLD in my portfolio?

MUSQ and HYLD have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MUSQ or HYLD?

On fees, MUSQ is cheaper at 0.76% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MUSQ or HYLD?

MUSQ is cheaper with a 0.76% expense ratio, compared with 1.29% for HYLD.

Which ETF pays a higher dividend yield, MUSQ or HYLD?

MUSQ has the higher dividend yield at 0.72%, compared with 0.00% for HYLD.

What is the main difference between MUSQ and HYLD?

MUSQ is categorized as Communications Equities, while HYLD is High Yield Bonds. Their fees differ too: 0.76% for MUSQ and 1.29% for HYLD.