PCHI vs. MHY

Last updated Jul 12, 2026

PCHI (Polen High Income ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. Both are actively managed. At a 0.35 correlation, their price movements are largely independent. PCHI charges 0.56%/yr vs 0.69%/yr for MHY.

Performance

PCHI vs. MHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Polen High Income ETF (PCHI) and Man Active High Yield ETF (MHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCHI achieves a 3.51% return, which is significantly lower than MHY's 4.98% return.

PCHI

• 1D: 1.97%
• 1M: 3.15%
• 6M: 3.08%
• YTD: 3.51%
• 1Y: 6.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MHY

• 1D: -0.00%
• 1M: 1.61%
• 6M: 4.37%
• YTD: 4.98%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCHI vs. MHY - Yearly Performance Comparison

	2026 (YTD)	2025
PCHI Polen High Income ETF	3.51%	0.72%
MHY Man Active High Yield ETF	4.98%	1.54%

Correlation

The correlation between PCHI and MHY is 0.35, 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 18, 2025	0.35

Return for Risk

PCHI vs. MHY — Risk / Return Rank

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

PCHI

PCHI Risk / Return Rank: 29
PCHI Sharpe Ratio Rank: 21
PCHI Sortino Ratio Rank: 20
PCHI Omega Ratio Rank: 36
PCHI Calmar Ratio Rank: 24
PCHI Martin Ratio Rank: 43

MHY

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.

PCHI vs. MHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Polen High Income ETF (PCHI) and Man Active High Yield ETF (MHY). 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.

	PCHI	MHY	Difference
Sharpe ratio: Return per unit of total volatility	0.60	—	—
Sortino ratio: Return per unit of downside risk	0.94	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	0.93	—	—
Martin ratio: Return relative to average drawdown	5.53	—	—

Drawdowns

PCHI vs. MHY - Drawdown Comparison

The maximum PCHI drawdown since its inception was -6.41%, which is greater than MHY's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for PCHI and MHY.

Drawdown Indicators

	PCHI	MHY	Difference
Max Drawdown Largest peak-to-trough decline	-6.41%	-1.58%	-4.83%
Max Drawdown (1Y) Largest decline over 1 year	-6.41%	—	—
Current Drawdown Current decline from peak	0.00%	-0.19%	+0.19%
Average Drawdown Average peak-to-trough decline	-0.82%	-0.28%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	—	—

Volatility

Volatility by Period

	PCHI	MHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.93%	2.96%	+6.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.35%	2.96%	+6.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.35%	2.96%	+6.39%

PCHI vs. MHY - Expense Ratio Comparison

PCHI has a 0.56% expense ratio, which is lower than MHY's 0.69% expense ratio.

Dividends

PCHI vs. MHY - Dividend Comparison

PCHI's dividend yield for the trailing twelve months is around 7.85%, more than MHY's 5.26% yield.

Position	TTM	2025
MHY Man Active High Yield ETF	5.26%	3.42%
PCHI Polen High Income ETF	7.85%	5.62%

Frequently Asked Questions

Can I hold both PCHI and MHY in my portfolio?

PCHI and MHY have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PCHI or MHY?

On fees, PCHI is cheaper at 0.56% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PCHI or MHY?

PCHI is cheaper with a 0.56% expense ratio, compared with 0.69% for MHY.

Which ETF pays a higher dividend yield, PCHI or MHY?

PCHI has the higher dividend yield at 7.85%, compared with 5.26% for MHY.

What is the main difference between PCHI and MHY?

They also come from different issuers: Polen Capital and Man Group. Their fees differ too: 0.56% for PCHI and 0.69% for MHY.