PGHY vs. HYDB
Compare and contrast key facts about Invesco Global Short Term High Yield Bond ETF (PGHY) and iShares High Yield Bond Factor ETF (HYDB).
PGHY and HYDB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGHY is a passively managed fund by Invesco that tracks the performance of the DB Global Short Maturity High Yield Bond Index. It was launched on Jun 20, 2013. HYDB is a passively managed fund by iShares that tracks the performance of the BlackRock High Yield Defensive Bond Index. It was launched on Jul 11, 2017. Both PGHY and HYDB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PGHY or HYDB.
Performance
PGHY vs. HYDB - Performance Comparison
Returns By Period
In the year-to-date period, PGHY achieves a 8.78% return, which is significantly lower than HYDB's 9.40% return.
PGHY
8.78%
-0.27%
4.77%
12.99%
3.54%
3.97%
HYDB
9.40%
0.83%
6.13%
13.85%
5.39%
N/A
Key characteristics
| PGHY | HYDB | |
|---|---|---|
| Sharpe Ratio | 2.94 | 2.97 |
| Sortino Ratio | 4.50 | 4.63 |
| Omega Ratio | 1.58 | 1.59 |
| Calmar Ratio | 6.83 | 7.17 |
| Martin Ratio | 26.39 | 25.39 |
| Ulcer Index | 0.50% | 0.55% |
| Daily Std Dev | 4.46% | 4.68% |
| Max Drawdown | -20.50% | -21.58% |
| Current Drawdown | -0.65% | -0.30% |
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PGHY vs. HYDB - Expense Ratio Comparison
Both PGHY and HYDB have an expense ratio of 0.35%.
Correlation
The correlation between PGHY and HYDB is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Risk-Adjusted Performance
PGHY vs. HYDB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Short Term High Yield Bond ETF (PGHY) and iShares High Yield Bond Factor ETF (HYDB). 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.
Dividends
PGHY vs. HYDB - Dividend Comparison
PGHY's dividend yield for the trailing twelve months is around 7.43%, more than HYDB's 6.97% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGHY Invesco Global Short Term High Yield Bond ETF | 7.43% | 7.86% | 5.12% | 5.18% | 5.45% | 5.33% | 5.45% | 5.52% | 6.26% | 4.59% | 4.40% | 1.90% |
HYDB iShares High Yield Bond Factor ETF | 6.97% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.17% | 2.70% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PGHY vs. HYDB - Drawdown Comparison
The maximum PGHY drawdown since its inception was -20.50%, smaller than the maximum HYDB drawdown of -21.58%. Use the drawdown chart below to compare losses from any high point for PGHY and HYDB. For additional features, visit the drawdowns tool.
Volatility
PGHY vs. HYDB - Volatility Comparison
Invesco Global Short Term High Yield Bond ETF (PGHY) and iShares High Yield Bond Factor ETF (HYDB) have volatilities of 1.26% and 1.21%, 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.