PHYL vs. BBHY

Last updated Jun 5, 2026

PHYL (PGIM Active High Yield Bond ETF) and BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. PHYL is actively managed, while BBHY is passively managed. Over the past 5 years, PHYL returned 4.04%/yr vs 4.12%/yr for BBHY. Their correlation of 0.80 suggests significant overlap in exposure. PHYL charges 0.53%/yr vs 0.15%/yr for BBHY.

Performance

PHYL vs. BBHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Active High Yield Bond ETF (PHYL) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PHYL achieves a 1.53% return, which is significantly lower than BBHY's 1.73% return.

PHYL

• 1D: 0.17%
• 1M: 0.33%
• YTD: 1.53%
• 6M: 2.10%
• 1Y: 7.43%
• 3Y*: 9.20%
• 5Y*: 4.04%
• 10Y*: —

BBHY

• 1D: 0.15%
• 1M: 0.49%
• YTD: 1.73%
• 6M: 2.18%
• 1Y: 7.10%
• 3Y*: 8.76%
• 5Y*: 4.12%
• 10Y*: —

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

PHYL vs. BBHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PHYL PGIM Active High Yield Bond ETF	1.53%	9.65%	8.45%	11.91%	-11.80%	6.20%	6.31%	16.77%	-4.15%
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	1.73%	8.51%	7.81%	11.98%	-10.37%	3.88%	5.36%	14.35%	-2.84%

Correlation

The correlation between PHYL and BBHY 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	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018	0.80

The correlation between PHYL and BBHY shifts across timeframes, from 0.80 (all time) to 0.92 (3 years), reflecting how their relationship changes across market environments.

PHYL vs. BBHY - Sectors Allocation Comparison

Sectors	PHYL	BBHY
Energy	59.0%	5.2%
Communication Services	41.1%	7.9%
Basic Materials	-	3.2%
Consumer Cyclical	-	10.0%
Consumer Defensive	-	2.5%
Financial Services	-	4.1%
Healthcare	-	5.4%
Industrials	-	8.4%
Real Estate	-	3.9%
Technology	-	4.0%
Utilities	-	2.0%

Return for Risk

PHYL vs. BBHY — Risk / Return Rank

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

PHYL

PHYL Risk / Return Rank: 71
PHYL Sharpe Ratio Rank: 72
PHYL Sortino Ratio Rank: 77
PHYL Omega Ratio Rank: 79
PHYL Calmar Ratio Rank: 57
PHYL Martin Ratio Rank: 69

BBHY

BBHY Risk / Return Rank: 65
BBHY Sharpe Ratio Rank: 60
BBHY Sortino Ratio Rank: 66
BBHY Omega Ratio Rank: 65
BBHY Calmar Ratio Rank: 62
BBHY Martin Ratio Rank: 73

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.

PHYL vs. BBHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Active High Yield Bond ETF (PHYL) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). 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.

	PHYL	BBHY	Difference
Sharpe ratio: Return per unit of total volatility	2.30	1.97	+0.32
Sortino ratio: Return per unit of downside risk	3.40	2.99	+0.42
Omega ratio: Gain probability vs. loss probability	1.47	1.39	+0.08
Calmar ratio: Return relative to maximum drawdown	2.79	3.00	-0.21
Martin ratio: Return relative to average drawdown	12.75	13.50	-0.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PHYL vs. BBHY - Sharpe Ratio Comparison

The current PHYL Sharpe Ratio is 2.30, which is comparable to the BBHY Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of PHYL and BBHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PHYL	BBHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	1.97	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.57	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.64	+0.07

Drawdowns

PHYL vs. BBHY - Drawdown Comparison

The maximum PHYL drawdown since its inception was -22.07%, smaller than the maximum BBHY drawdown of -24.98%. Use the drawdown chart below to compare losses from any high point for PHYL and BBHY.

Drawdown Indicators

	PHYL	BBHY	Difference
Max Drawdown Largest peak-to-trough decline	-22.07%	-24.98%	+2.91%
Max Drawdown (1Y) Largest decline over 1 year	-2.68%	-2.37%	-0.31%
Max Drawdown (3Y) Largest decline over 3 years	-4.53%	-5.00%	+0.47%
Max Drawdown (5Y) Largest decline over 5 years	-16.11%	-15.32%	-0.79%
Current Drawdown Current decline from peak	-0.13%	-0.14%	+0.01%
Average Drawdown Average peak-to-trough decline	-3.06%	-2.37%	-0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	0.53%	+0.05%

Volatility

PHYL vs. BBHY - Volatility Comparison

PGIM Active High Yield Bond ETF (PHYL) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) have volatilities of 1.09% and 1.13%, 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

	PHYL	BBHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	1.13%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	2.59%	2.85%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	3.25%	3.62%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.68%	7.26%	-1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.66%	7.53%	+0.13%

PHYL vs. BBHY - Expense Ratio Comparison

PHYL has a 0.53% expense ratio, which is higher than BBHY's 0.15% expense ratio.

Dividends

PHYL vs. BBHY - Dividend Comparison

PHYL's dividend yield for the trailing twelve months is around 6.99%, which matches BBHY's 6.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	6.94%	7.24%	7.18%	6.49%	5.92%	4.06%	4.73%	4.99%	5.02%	4.81%	1.42%
PHYL PGIM Active High Yield Bond ETF	6.99%	7.05%	8.28%	7.62%	6.55%	6.13%	7.51%	7.31%	1.79%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PHYL and BBHY in my portfolio?

With a correlation of 0.91, PHYL and BBHY 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.

Which is riskier, PHYL or BBHY?

BBHY has higher volatility (1.13%) compared to PHYL (1.09%). In terms of maximum drawdown, PHYL dropped -22.07% vs BBHY's -24.98%.

Which ETF is better, PHYL or BBHY?

On 5-year performance, BBHY leads with 4.12% vs 4.04% for PHYL. On fees, BBHY is cheaper at 0.15% 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, PHYL or BBHY?

Over the 5-year period, BBHY has performed better with a 4.12% return vs 4.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PHYL or BBHY?

BBHY is cheaper with a 0.15% expense ratio, compared with 0.53% for PHYL.

Which ETF pays a higher dividend yield, PHYL or BBHY?

PHYL has the higher dividend yield at 6.99%, compared with 6.94% for BBHY.

What is the main difference between PHYL and BBHY?

They also come from different issuers: Prudential and JPMorgan. Their fees differ too: 0.53% for PHYL and 0.15% for BBHY.

Which has better risk-adjusted returns?

PHYL currently has the higher Sharpe Ratio (2.30 vs 1.97), 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.