NUHY vs. PHYD

Last updated Jul 18, 2026

NUHY (Nuveen ESG High Yield Corporate Bond ETF) and PHYD (Putnam ESG High Yield ETF -) are both High Yield Bonds funds. NUHY is passively managed, while PHYD is actively managed. Their correlation of 0.80 suggests significant overlap in exposure. NUHY charges 0.30%/yr vs 0.55%/yr for PHYD.

Performance

NUHY vs. PHYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG High Yield Corporate Bond ETF (NUHY) and Putnam ESG High Yield ETF - (PHYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NUHY

• 1D: -0.26%
• 1M: 0.40%
• 6M: 1.50%
• YTD: 2.02%
• 1Y: 5.80%
• 3Y*: 8.06%
• 5Y*: 3.42%
• 10Y*: —

PHYD

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUHY vs. PHYD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NUHY Nuveen ESG High Yield Corporate Bond ETF	2.02%	9.12%	7.26%	7.55%
PHYD Putnam ESG High Yield ETF -	2.32%	8.84%	7.35%	8.30%

Correlation

The correlation between NUHY and PHYD is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023	0.80

The correlation between NUHY and PHYD has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

Return for Risk

NUHY vs. PHYD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NUHY

NUHY Risk / Return Rank: 60
NUHY Sharpe Ratio Rank: 57
NUHY Sortino Ratio Rank: 64
NUHY Omega Ratio Rank: 62
NUHY Calmar Ratio Rank: 51
NUHY Martin Ratio Rank: 67

PHYD

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NUHY vs. PHYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG High Yield Corporate Bond ETF (NUHY) and Putnam ESG High Yield ETF - (PHYD). 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.

	NUHY	PHYD	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	2.32	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.03	—	—
Martin ratio: Return relative to average drawdown	9.05	—	—

Drawdowns

Drawdown Indicators

	NUHY	PHYD	Difference
Max Drawdown Largest peak-to-trough decline	-20.14%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.87%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.92%	—	—
Current Drawdown Current decline from peak	-0.58%	—	—
Average Drawdown Average peak-to-trough decline	-3.47%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.64%	—	—

Volatility

Volatility by Period

	NUHY	PHYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.88%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.34%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.45%	—	—

NUHY vs. PHYD - Expense Ratio Comparison

NUHY has a 0.30% expense ratio, which is lower than PHYD's 0.55% expense ratio.

Dividends

NUHY vs. PHYD - Dividend Comparison

NUHY's dividend yield for the trailing twelve months is around 6.70%, while PHYD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
NUHY Nuveen ESG High Yield Corporate Bond ETF	6.70%	6.51%	6.59%	6.64%	6.36%	4.88%	5.10%	1.37%
PHYD Putnam ESG High Yield ETF -	8.52%	6.63%	6.80%	6.15%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NUHY and PHYD in my portfolio?

NUHY and PHYD have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NUHY or PHYD?

On fees, NUHY is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NUHY or PHYD?

NUHY is cheaper with a 0.30% expense ratio, compared with 0.55% for PHYD.

Which ETF pays a higher dividend yield, NUHY or PHYD?

PHYD has the higher dividend yield at 8.52%, compared with 6.70% for NUHY.

What is the main difference between NUHY and PHYD?

They also come from different issuers: Nuveen and Putnam. Their fees differ too: 0.30% for NUHY and 0.55% for PHYD.