PHYD vs. SHYG
PHYD (Putnam ESG High Yield ETF -) and SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) are both High Yield Bonds funds. PHYD is actively managed, while SHYG is passively managed. Their correlation of 0.81 means they have usually moved in the same direction. PHYD charges 0.55%/yr vs 0.30%/yr for SHYG.
Performance
PHYD vs. SHYG - Performance Comparison
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Returns By Period
PHYD
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SHYG
- 1D
- 0.25%
- 1M
- 0.04%
- 6M
- 1.44%
- YTD
- 2.05%
- 1Y
- 5.29%
- 3Y*
- 7.85%
- 5Y*
- 4.92%
- 10Y*
- 4.97%
- ALL TIME*
- 4.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $70.87M | $62.39M | $58.83M |
PHYD vs. SHYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PHYD Putnam ESG High Yield ETF - | 2.32% | 8.84% | 7.35% | 8.30% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2.05% | 7.94% | 8.17% | 7.95% |
Correlation
The correlation between PHYD and SHYG is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | 0.81 |
The correlation between PHYD and SHYG has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.
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Return for Risk
PHYD vs. SHYG — Risk / Return Rank
PHYD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SHYG
PHYD vs. SHYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam ESG High Yield ETF - (PHYD) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). 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.
| PHYD | SHYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.33 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.04 | — |
| Martin ratioReturn relative to average drawdown | — | 13.01 | — |
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Drawdowns
PHYD vs. SHYG - Drawdown Comparison
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Drawdown Indicators
| PHYD | SHYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -19.26% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.75% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.53% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.39% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.26% | — |
Current DrawdownCurrent decline from peak | — | -0.06% | — |
Average DrawdownAverage peak-to-trough decline | — | -1.43% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.41% | — |
Volatility
PHYD vs. SHYG - Volatility Comparison
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Volatility by Period
| PHYD | SHYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.64% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.62% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 3.18% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 5.74% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 6.39% | — |
PHYD vs. SHYG - Expense Ratio Comparison
PHYD has a 0.55% expense ratio, which is higher than SHYG's 0.30% expense ratio.
Dividends
PHYD vs. SHYG - Dividend Comparison
PHYD has not paid dividends to shareholders, while SHYG's dividend yield for the trailing twelve months is around 7.03%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHYD Putnam ESG High Yield ETF - | 8.00% | 6.63% | 6.80% | 6.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 7.03% | 7.03% | 6.93% | 6.54% | 5.57% | 4.83% | 5.07% | 5.33% | 5.90% | 5.49% | 5.53% | 5.17% |
Frequently Asked Questions
PHYD and SHYG have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHYG is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHYG is cheaper with a 0.30% expense ratio, compared with 0.55% for PHYD.
PHYD has the higher dividend yield at 8.00%, compared with 7.03% for SHYG.
They also come from different issuers: Putnam and iShares. Their fees differ too: 0.55% for PHYD and 0.30% for SHYG.
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