NUHY vs. USHY
NUHY (Nuveen ESG High Yield Corporate Bond ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - NUHY tracks the Bloomberg Barclays MSCI US Aggregate ESG Select Index while USHY tracks the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 5 years, NUHY returned 3.43%/yr vs 4.29%/yr for USHY. Their correlation of 0.86 suggests significant overlap in exposure. NUHY charges 0.30%/yr vs 0.15%/yr for USHY.
Performance
NUHY vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, NUHY achieves a 1.49% return, which is significantly lower than USHY's 1.64% return.
NUHY
- 1D
- 0.14%
- 1M
- 0.75%
- YTD
- 1.49%
- 6M
- 1.82%
- 1Y
- 6.51%
- 3Y*
- 8.51%
- 5Y*
- 3.43%
- 10Y*
- —
USHY
- 1D
- 0.22%
- 1M
- 0.46%
- YTD
- 1.64%
- 6M
- 1.98%
- 1Y
- 6.99%
- 3Y*
- 9.01%
- 5Y*
- 4.29%
- 10Y*
- —
NUHY vs. USHY - 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% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.64% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 6.17% | 2.30% |
Correlation
The correlation between NUHY and USHY 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 | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019 | 0.86 |
The correlation between NUHY and USHY has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.
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Return for Risk
NUHY vs. USHY — Risk / Return Rank
NUHY
USHY
NUHY vs. USHY - 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 Broad USD High Yield Corporate Bond ETF (USHY). 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 | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.37 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 2.89 | -0.61 |
| Martin ratioReturn relative to average drawdown | 10.16 | 12.99 | -2.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NUHY | USHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 1.93 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.59 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.58 | -0.15 |
Drawdowns
NUHY vs. USHY - Drawdown Comparison
The maximum NUHY drawdown since its inception was -20.14%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for NUHY and USHY.
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Drawdown Indicators
| NUHY | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.14% | -22.44% | +2.30% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -2.43% | -0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -4.68% | -4.66% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -16.92% | -15.56% | -1.36% |
Current DrawdownCurrent decline from peak | -0.12% | -0.06% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -3.53% | -2.66% | -0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.54% | +0.10% |
Volatility
NUHY vs. USHY - Volatility Comparison
Nuveen ESG High Yield Corporate Bond ETF (NUHY) has a higher volatility of 1.35% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.14%. This indicates that NUHY's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NUHY | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.14% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 3.04% | 2.92% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 3.65% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.31% | 7.34% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.51% | 8.25% | +0.26% |
NUHY vs. USHY - Expense Ratio Comparison
NUHY has a 0.30% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
NUHY vs. USHY - Dividend Comparison
NUHY's dividend yield for the trailing twelve months is around 6.63%, less than USHY's 6.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.91% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% |
Frequently Asked Questions
With a correlation of 0.91, NUHY and USHY 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 USHY (1.14%). In terms of maximum drawdown, NUHY dropped -20.14% vs USHY's -22.44%.
On 5-year performance, USHY leads with 4.29% vs 3.43% for NUHY. On fees, USHY is cheaper at 0.15% per year. On volatility, USHY has been the lower-risk option at 1.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USHY has performed better with a 4.29% return vs 3.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USHY is cheaper with a 0.15% expense ratio, compared with 0.30% for NUHY.
USHY has the higher dividend yield at 6.91%, compared with 6.63% for NUHY.
NUHY tracks Bloomberg Barclays MSCI US Aggregate ESG Select Index, while USHY tracks ICE BofA US High Yield Constrained Index. They also come from different issuers: Nuveen and iShares. Their fees differ too: 0.30% for NUHY and 0.15% for USHY.
USHY currently has the higher Sharpe Ratio (1.93 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.
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