NHYB vs. HYZD
NHYB (Nuveen High Yield Corporate Bond ETF) and HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) are both High Yield Bonds funds - NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index while HYZD tracks the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. Both are passively managed. At a 0.45 correlation, their price movements are largely independent. NHYB charges 0.08%/yr vs 0.43%/yr for HYZD.
Performance
NHYB vs. HYZD - 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 HYZD's 2.65% return.
NHYB
- 1D
- 0.04%
- 1M
- 0.33%
- YTD
- 1.99%
- 6M
- 1.95%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYZD
- 1D
- 0.00%
- 1M
- 0.13%
- YTD
- 2.65%
- 6M
- 2.74%
- 1Y
- 7.03%
- 3Y*
- 9.03%
- 5Y*
- 6.07%
- 10Y*
- 5.62%
NHYB vs. HYZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NHYB Nuveen High Yield Corporate Bond ETF | 1.99% | 1.24% |
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 2.65% | 1.69% |
Correlation
The correlation between NHYB and HYZD is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025 | 0.45 |
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Return for Risk
NHYB vs. HYZD — Risk / Return Rank
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYZD
NHYB vs. HYZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen High Yield Corporate Bond ETF (NHYB) and WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD). 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 | HYZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.47 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.70 | — |
| Martin ratioReturn relative to average drawdown | — | 15.74 | — |
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Drawdowns
NHYB vs. HYZD - Drawdown Comparison
The maximum NHYB drawdown since its inception was -2.40%, smaller than the maximum HYZD drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for NHYB and HYZD.
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Drawdown Indicators
| NHYB | HYZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.40% | -25.66% | +23.26% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.91% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.85% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.66% | — |
Current DrawdownCurrent decline from peak | -0.12% | -0.46% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -0.36% | -2.19% | +1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.45% | — |
Volatility
NHYB vs. HYZD - Volatility Comparison
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Volatility by Period
| NHYB | HYZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.12% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.44% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.61% | 3.04% | +0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.61% | 6.70% | -3.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.61% | 8.54% | -4.93% |
NHYB vs. HYZD - Expense Ratio Comparison
NHYB has a 0.08% expense ratio, which is lower than HYZD's 0.43% expense ratio.
Dividends
NHYB vs. HYZD - Dividend Comparison
NHYB's dividend yield for the trailing twelve months is around 4.24%, less than HYZD's 5.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.91% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
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 HYZD have a correlation of 0.45, 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 0.43% for HYZD.
HYZD has the higher dividend yield at 5.91%, compared with 4.24% for NHYB.
NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index, while HYZD tracks WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. They also come from different issuers: Nuveen and WisdomTree. Their fees differ too: 0.08% for NHYB and 0.43% for HYZD.
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