ODHY vs. HYSD

Last updated Jul 17, 2026

ODHY (Obra Defensive High Yield ETF) and HYSD (Columbia Short Duration High Yield ETF) are both High Yield Bonds funds. Over the past year, ODHY returned 5.10% vs 5.96% for HYSD. Their correlation of 0.82 suggests significant overlap in exposure. ODHY charges 0.50%/yr vs 0.44%/yr for HYSD.

Performance

ODHY vs. HYSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Obra Defensive High Yield ETF (ODHY) and Columbia Short Duration High Yield ETF (HYSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ODHY achieves a 1.57% return, which is significantly lower than HYSD's 2.33% return.

ODHY

• 1D: -0.05%
• 1M: 0.13%
• 6M: 1.27%
• YTD: 1.57%
• 1Y: 5.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYSD

• 1D: -0.02%
• 1M: 0.27%
• 6M: 1.95%
• YTD: 2.33%
• 1Y: 5.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ODHY vs. HYSD - Yearly Performance Comparison

	2026 (YTD)	2025
ODHY Obra Defensive High Yield ETF	1.57%	2.15%
HYSD Columbia Short Duration High Yield ETF	2.33%	3.34%

Correlation

The correlation between ODHY and HYSD is 0.83, 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	0.83
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025	0.82

The correlation between ODHY and HYSD has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

Return for Risk

ODHY vs. HYSD — Risk / Return Rank

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

ODHY

ODHY Risk / Return Rank: 79
ODHY Sharpe Ratio Rank: 79
ODHY Sortino Ratio Rank: 85
ODHY Omega Ratio Rank: 87
ODHY Calmar Ratio Rank: 65
ODHY Martin Ratio Rank: 80

HYSD

HYSD Risk / Return Rank: 88
HYSD Sharpe Ratio Rank: 83
HYSD Sortino Ratio Rank: 90
HYSD Omega Ratio Rank: 89
HYSD Calmar Ratio Rank: 88
HYSD Martin Ratio Rank: 93

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.

ODHY vs. HYSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Obra Defensive High Yield ETF (ODHY) and Columbia Short Duration High Yield ETF (HYSD). 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.

	ODHY	HYSD	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.14	-0.13
Sortino ratio: Return per unit of downside risk	3.11	3.36	-0.25
Omega ratio: Gain probability vs. loss probability	1.43	1.44	-0.01
Calmar ratio: Return relative to maximum drawdown	2.61	4.11	-1.50
Martin ratio: Return relative to average drawdown	12.10	18.25	-6.15

ODHY vs. HYSD - Sharpe Ratio Comparison

The current ODHY Sharpe Ratio is 2.02, which is comparable to the HYSD Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of ODHY and HYSD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ODHY vs. HYSD - Drawdown Comparison

The maximum ODHY drawdown since its inception was -1.96%, smaller than the maximum HYSD drawdown of -2.69%. Use the drawdown chart below to compare losses from any high point for ODHY and HYSD.

Drawdown Indicators

	ODHY	HYSD	Difference
Max Drawdown Largest peak-to-trough decline	-1.96%	-2.69%	+0.73%
Max Drawdown (1Y) Largest decline over 1 year	-1.96%	-1.46%	-0.50%
Current Drawdown Current decline from peak	-0.10%	-0.05%	-0.05%
Average Drawdown Average peak-to-trough decline	-0.31%	-0.25%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.42%	0.33%	+0.09%

Volatility

ODHY vs. HYSD - Volatility Comparison

Obra Defensive High Yield ETF (ODHY) and Columbia Short Duration High Yield ETF (HYSD) have volatilities of 0.57% and 0.56%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ODHY	HYSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.57%	0.56%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.05%	2.23%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	2.55%	2.79%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.67%	3.45%	-0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.67%	3.45%	-0.78%

ODHY vs. HYSD - Expense Ratio Comparison

ODHY has a 0.50% expense ratio, which is higher than HYSD's 0.44% expense ratio.

Dividends

ODHY vs. HYSD - Dividend Comparison

ODHY's dividend yield for the trailing twelve months is around 5.21%, less than HYSD's 5.82% yield.

Position	TTM	2025	2024
HYSD Columbia Short Duration High Yield ETF	5.82%	5.60%	1.82%
ODHY Obra Defensive High Yield ETF	5.21%	2.62%	0.00%

Frequently Asked Questions

Can I hold both ODHY and HYSD in my portfolio?

ODHY and HYSD have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ODHY or HYSD?

ODHY has higher volatility (0.57%) compared to HYSD (0.56%). In terms of maximum drawdown, ODHY dropped -1.96% vs HYSD's -2.69%.

Which ETF is better, ODHY or HYSD?

On 1-year performance, HYSD leads with 5.96% vs 5.10% for ODHY. On fees, HYSD is cheaper at 0.44% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ODHY or HYSD?

Over the 1-year period, HYSD has performed better with a 5.96% return vs 5.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ODHY or HYSD?

HYSD is cheaper with a 0.44% expense ratio, compared with 0.50% for ODHY.

Which ETF pays a higher dividend yield, ODHY or HYSD?

HYSD has the higher dividend yield at 5.82%, compared with 5.21% for ODHY.

What is the main difference between ODHY and HYSD?

They also come from different issuers: Obra and Columbia. Their fees differ too: 0.50% for ODHY and 0.44% for HYSD.

Which has better risk-adjusted returns?

HYSD currently has the higher Sharpe Ratio (2.14 vs 2.02), 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.