NUHY vs. HYG
NUHY (Nuveen ESG High Yield Corporate Bond ETF) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both High Yield Bonds funds - NUHY tracks the Bloomberg Barclays MSCI US Aggregate ESG Select Index while HYG tracks the Markit iBoxx USD Liquid High Yield Index. Both are passively managed. Over the past 5 years, NUHY returned 3.43%/yr vs 3.81%/yr for HYG. Their correlation of 0.86 suggests significant overlap in exposure. NUHY charges 0.30%/yr vs 0.49%/yr for HYG.
Performance
NUHY vs. HYG - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with NUHY having a 1.49% return and HYG slightly higher at 1.51%.
NUHY
- 1D
- 0.14%
- 1M
- 0.75%
- YTD
- 1.49%
- 6M
- 1.82%
- 1Y
- 6.51%
- 3Y*
- 8.51%
- 5Y*
- 3.43%
- 10Y*
- —
HYG
- 1D
- 0.19%
- 1M
- 0.40%
- YTD
- 1.51%
- 6M
- 1.84%
- 1Y
- 6.51%
- 3Y*
- 8.57%
- 5Y*
- 3.81%
- 10Y*
- 4.91%
NUHY vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NUHY Nuveen ESG High Yield Corporate Bond ETF | 1.49% | 9.12% | 7.26% | 11.18% | -11.80% | 2.46% | 4.14% | 2.21% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.51% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 2.48% |
Correlation
The correlation between NUHY and HYG is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019 | 0.86 |
The correlation between NUHY and HYG has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NUHY vs. HYG — Risk / Return Rank
NUHY
HYG
NUHY vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG High Yield Corporate Bond ETF (NUHY) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
| NUHY | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.33 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 2.79 | -0.51 |
| Martin ratioReturn relative to average drawdown | 10.16 | 12.34 | -2.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| NUHY | HYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 1.72 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.51 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.46 | -0.03 |
Drawdowns
NUHY vs. HYG - Drawdown Comparison
The maximum NUHY drawdown since its inception was -20.14%, smaller than the maximum HYG drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for NUHY and HYG.
Loading charts...
Drawdown Indicators
| NUHY | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.14% | -34.25% | +14.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -2.34% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -4.68% | -4.56% | -0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -16.92% | -15.79% | -1.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.03% | — |
Current DrawdownCurrent decline from peak | -0.12% | -0.09% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -3.53% | -3.24% | -0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.53% | +0.11% |
Volatility
NUHY vs. HYG - Volatility Comparison
Nuveen ESG High Yield Corporate Bond ETF (NUHY) has a higher volatility of 1.35% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 1.21%. This indicates that NUHY's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NUHY | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.21% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.04% | 3.01% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 3.81% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.31% | 7.53% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.51% | 8.29% | +0.22% |
NUHY vs. HYG - Expense Ratio Comparison
NUHY has a 0.30% expense ratio, which is lower than HYG's 0.49% expense ratio.
Dividends
NUHY vs. HYG - Dividend Comparison
NUHY's dividend yield for the trailing twelve months is around 6.63%, more than HYG's 5.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.91% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
NUHY Nuveen ESG High Yield Corporate Bond ETF | 6.63% | 6.51% | 6.59% | 6.64% | 6.36% | 4.88% | 5.10% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, NUHY and HYG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
NUHY has higher volatility (1.35%) compared to HYG (1.21%). In terms of maximum drawdown, NUHY dropped -20.14% vs HYG's -34.25%.
On 5-year performance, HYG leads with 3.81% vs 3.43% for NUHY. On fees, NUHY is cheaper at 0.30% per year. On volatility, HYG has been the lower-risk option at 1.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYG has performed better with a 3.81% return vs 3.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NUHY is cheaper with a 0.30% expense ratio, compared with 0.49% for HYG.
NUHY has the higher dividend yield at 6.63%, compared with 5.91% for HYG.
NUHY tracks Bloomberg Barclays MSCI US Aggregate ESG Select Index, while HYG tracks Markit iBoxx USD Liquid High Yield Index. They also come from different issuers: Nuveen and iShares. Their fees differ too: 0.30% for NUHY and 0.49% for HYG.
HYG currently has the higher Sharpe Ratio (1.72 vs 1.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for NUHY and HYG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer