NHYB vs. GHYG
NHYB (Nuveen High Yield Corporate Bond ETF) and GHYG (iShares US & Intl High Yield Corp Bond ETF) are both High Yield Bonds funds - NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index while GHYG tracks the Markit iBoxx Global Developed Markets High Yield Index. Both are passively managed. A 0.76 correlation means they provide meaningful diversification when combined. NHYB charges 0.08%/yr vs 0.40%/yr for GHYG.
Performance
NHYB vs. GHYG - Performance Comparison
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Returns By Period
In the year-to-date period, NHYB achieves a 1.99% return, which is significantly higher than GHYG's 0.29% return.
NHYB
- 1D
- 0.04%
- 1M
- 0.33%
- YTD
- 1.99%
- 6M
- 1.95%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GHYG
- 1D
- 0.04%
- 1M
- -0.23%
- YTD
- 0.29%
- 6M
- 0.33%
- 1Y
- 3.71%
- 3Y*
- 8.59%
- 5Y*
- 3.29%
- 10Y*
- 4.88%
NHYB vs. GHYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NHYB Nuveen High Yield Corporate Bond ETF | 1.99% | 1.24% |
GHYG iShares US & Intl High Yield Corp Bond ETF | 0.29% | 0.92% |
Correlation
The correlation between NHYB and GHYG is 0.76, 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 Sep 24, 2025 | 0.76 |
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Return for Risk
NHYB vs. GHYG — Risk / Return Rank
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GHYG
NHYB vs. GHYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen High Yield Corporate Bond ETF (NHYB) and iShares US & Intl High Yield Corp Bond ETF (GHYG). 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.
| NHYB | GHYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.14 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.97 | — |
| Martin ratioReturn relative to average drawdown | — | 3.54 | — |
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Drawdowns
NHYB vs. GHYG - Drawdown Comparison
The maximum NHYB drawdown since its inception was -2.40%, smaller than the maximum GHYG drawdown of -27.36%. Use the drawdown chart below to compare losses from any high point for NHYB and GHYG.
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Drawdown Indicators
| NHYB | GHYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.40% | -27.36% | +24.96% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.84% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.44% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.36% | — |
Current DrawdownCurrent decline from peak | -0.12% | -1.06% | +0.94% |
Average DrawdownAverage peak-to-trough decline | -0.36% | -3.34% | +2.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.05% | — |
Volatility
NHYB vs. GHYG - Volatility Comparison
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Volatility by Period
| NHYB | GHYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.07% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.77% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.61% | 4.67% | -1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.61% | 7.63% | -4.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.61% | 8.73% | -5.12% |
NHYB vs. GHYG - Expense Ratio Comparison
NHYB has a 0.08% expense ratio, which is lower than GHYG's 0.40% expense ratio.
Dividends
NHYB vs. GHYG - Dividend Comparison
NHYB's dividend yield for the trailing twelve months is around 4.24%, less than GHYG's 6.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYG iShares US & Intl High Yield Corp Bond ETF | 6.25% | 6.03% | 6.11% | 5.60% | 4.64% | 4.57% | 4.36% | 4.61% | 5.62% | 4.60% | 4.61% | 4.79% |
NHYB Nuveen High Yield Corporate Bond ETF | 4.24% | 1.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NHYB and GHYG have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NHYB is cheaper with a 0.08% expense ratio, compared with 0.40% for GHYG.
GHYG has the higher dividend yield at 6.25%, compared with 4.24% for NHYB.
NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index, while GHYG tracks Markit iBoxx Global Developed Markets High Yield Index. They also come from different issuers: Nuveen and iShares. Their fees differ too: 0.08% for NHYB and 0.40% for GHYG.
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