NHYB vs. HYGH
NHYB (Nuveen High Yield Corporate Bond ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both High Yield Bonds funds - NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index while HYGH tracks the Markit iBoxx USD Liquid High Yield Interest Hedged Index. Both are passively managed. A 0.65 correlation means they provide meaningful diversification when combined. NHYB charges 0.08%/yr vs 0.52%/yr for HYGH.
Performance
NHYB vs. HYGH - Performance Comparison
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Returns By Period
In the year-to-date period, NHYB achieves a 1.99% return, which is significantly lower than HYGH's 2.91% return.
NHYB
- 1D
- 0.04%
- 1M
- 0.33%
- YTD
- 1.99%
- 6M
- 1.95%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYGH
- 1D
- -0.12%
- 1M
- 0.06%
- YTD
- 2.91%
- 6M
- 2.89%
- 1Y
- 7.05%
- 3Y*
- 9.52%
- 5Y*
- 6.78%
- 10Y*
- 6.51%
NHYB vs. HYGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NHYB Nuveen High Yield Corporate Bond ETF | 1.99% | 1.24% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 2.91% | 1.73% |
Correlation
The correlation between NHYB and HYGH is 0.65, 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 | 0.65 |
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Return for Risk
NHYB vs. HYGH — Risk / Return Rank
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYGH
NHYB vs. HYGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen High Yield Corporate Bond ETF (NHYB) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH). 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 | HYGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.36 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.37 | — |
| Martin ratioReturn relative to average drawdown | — | 16.99 | — |
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Drawdowns
NHYB vs. HYGH - Drawdown Comparison
The maximum NHYB drawdown since its inception was -2.40%, smaller than the maximum HYGH drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for NHYB and HYGH.
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Drawdown Indicators
| NHYB | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.40% | -23.88% | +21.48% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.62% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.88% | — |
Current DrawdownCurrent decline from peak | -0.12% | -0.48% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -0.36% | -2.22% | +1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.42% | — |
Volatility
NHYB vs. HYGH - Volatility Comparison
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Volatility by Period
| NHYB | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.67% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.79% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.61% | 3.65% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.61% | 7.07% | -3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.61% | 8.28% | -4.67% |
NHYB vs. HYGH - Expense Ratio Comparison
NHYB has a 0.08% expense ratio, which is lower than HYGH's 0.52% expense ratio.
Dividends
NHYB vs. HYGH - Dividend Comparison
NHYB's dividend yield for the trailing twelve months is around 4.24%, less than HYGH's 6.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.62% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
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 HYGH have a correlation of 0.65, 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 0.52% for HYGH.
HYGH has the higher dividend yield at 6.62%, compared with 4.24% for NHYB.
NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index, while HYGH tracks Markit iBoxx USD Liquid High Yield Interest Hedged Index. They also come from different issuers: Nuveen and iShares. Their fees differ too: 0.08% for NHYB and 0.52% for HYGH.
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