MYHB vs. HYGW

Last updated Aug 2, 2026

MYHB (State Street My2028 High Yield Corporate Bond ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both exchange-traded funds - MYHB is a High Yield Bonds fund tracking the ICE 2028 Maturity US High Yield Index, while HYGW is a Derivative Income fund tracking the Cboe HYG BuyWrite Index. Both are passively managed. Their 0.77 correlation means they have sometimes moved together and sometimes differently. MYHB charges 0.39%/yr vs 0.69%/yr for HYGW.

Performance

MYHB vs. HYGW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street My2028 High Yield Corporate Bond ETF (MYHB) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MYHB

• 1D: 0.02%
• 1M: 0.30%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

HYGW

• 1D: 0.14%
• 1M: 0.03%
• 6M: 1.81%
• YTD: 2.36%
• 1Y: 5.90%
• 3Y*: 5.30%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.68%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	$480.97K	$636.40K	$814.79K
MYHB State Street My2028 High Yield Corporate Bond ETF	$1.36K	$1.00K	$8.02K

MYHB vs. HYGW - Yearly Performance Comparison

	2026 (YTD)
MYHB State Street My2028 High Yield Corporate Bond ETF	2.03%
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	1.31%

Correlation

The correlation between MYHB and HYGW is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 26, 2026	0.77

Return for Risk

MYHB vs. HYGW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MYHB

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

HYGW

HYGW Risk / Return Rank: 88
HYGW Sharpe Ratio Rank: 86
HYGW Sortino Ratio Rank: 87
HYGW Omega Ratio Rank: 90
HYGW Calmar Ratio Rank: 85
HYGW Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MYHB vs. HYGW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street My2028 High Yield Corporate Bond ETF (MYHB) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.

	MYHB	HYGW	Difference
Sharpe ratio: Return per unit of total volatility	—	2.03	—
Sortino ratio: Return per unit of downside risk	—	2.95	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	3.26	—
Martin ratio: Return relative to average drawdown	—	14.57	—

Drawdowns

MYHB vs. HYGW - Drawdown Comparison

The maximum MYHB drawdown since its inception was -1.09%, smaller than the maximum HYGW drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for MYHB and HYGW.

Drawdown Indicators

	MYHB	HYGW	Difference
Max Drawdown Largest peak-to-trough decline	-1.09%	-5.49%	+4.40%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.82%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.42%	—
Current Drawdown Current decline from peak	0.00%	-0.21%	+0.21%
Average Drawdown Average peak-to-trough decline	-0.18%	-0.59%	+0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.41%	—

Volatility

Volatility by Period

	MYHB	HYGW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.80%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.78%	2.92%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.78%	4.62%	-1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.78%	4.62%	-1.84%

MYHB vs. HYGW - Expense Ratio Comparison

MYHB has a 0.39% expense ratio, which is lower than HYGW's 0.69% expense ratio.

Dividends

MYHB vs. HYGW - Dividend Comparison

MYHB's dividend yield for the trailing twelve months is around 2.22%, less than HYGW's 10.71% yield.

Position	TTM	2025	2024	2023	2022
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	10.71%	12.53%	12.30%	15.98%	8.71%
MYHB State Street My2028 High Yield Corporate Bond ETF	2.22%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MYHB and HYGW in my portfolio?

MYHB and HYGW have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MYHB or HYGW?

On fees, MYHB is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MYHB or HYGW?

MYHB is cheaper with a 0.39% expense ratio, compared with 0.69% for HYGW.

Which ETF pays a higher dividend yield, MYHB or HYGW?

HYGW has the higher dividend yield at 10.71%, compared with 2.22% for MYHB.

What is the main difference between MYHB and HYGW?

MYHB is categorized as High Yield Bonds, while HYGW is Derivative Income. MYHB tracks ICE 2028 Maturity US High Yield Index, while HYGW tracks Cboe HYG BuyWrite Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.39% for MYHB and 0.69% for HYGW.