PHYL vs. PHYD
PHYL (PGIM Active High Yield Bond ETF) and PHYD (Putnam ESG High Yield ETF -) are both High Yield Bonds funds. Both are actively managed. Their correlation of 0.81 means they have usually moved in the same direction. PHYL charges 0.53%/yr vs 0.55%/yr for PHYD.
Performance
PHYL vs. PHYD - Performance Comparison
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Returns By Period
PHYL
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 1.55%
- YTD
- 2.08%
- 1Y
- 5.30%
- 3Y*
- 8.70%
- 5Y*
- 4.02%
- 10Y*
- —
- ALL TIME*
- 5.42%
PHYD
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.95M | $8.34M | $5.99M |
PHYL vs. PHYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PHYL PGIM Active High Yield Bond ETF | 2.08% | 9.65% | 8.45% | 8.49% |
PHYD Putnam ESG High Yield ETF - | 2.32% | 8.84% | 7.35% | 8.30% |
Correlation
The correlation between PHYL and PHYD is 0.75, 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. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | 0.81 |
The correlation between PHYL and PHYD has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.
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Return for Risk
PHYL vs. PHYD — Risk / Return Rank
PHYL
PHYD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PHYL vs. PHYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Active High Yield Bond ETF (PHYL) and Putnam ESG High Yield ETF - (PHYD). 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.
| PHYL | PHYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.30 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | — | — |
| Martin ratioReturn relative to average drawdown | 8.75 | — | — |
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Drawdowns
PHYL vs. PHYD - Drawdown Comparison
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Drawdown Indicators
| PHYL | PHYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.07% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.53% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.11% | — | — |
Current DrawdownCurrent decline from peak | -0.10% | — | — |
Average DrawdownAverage peak-to-trough decline | -3.00% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | — | — |
Volatility
PHYL vs. PHYD - Volatility Comparison
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Volatility by Period
| PHYL | PHYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.86% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.39% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.70% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.59% | — | — |
PHYL vs. PHYD - Expense Ratio Comparison
PHYL has a 0.53% expense ratio, which is lower than PHYD's 0.55% expense ratio.
Dividends
PHYL vs. PHYD - Dividend Comparison
PHYL's dividend yield for the trailing twelve months is around 6.96%, while PHYD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PHYD Putnam ESG High Yield ETF - | 8.00% | 6.63% | 6.80% | 6.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PHYL PGIM Active High Yield Bond ETF | 6.96% | 7.05% | 8.28% | 7.62% | 6.55% | 6.13% | 7.51% | 7.31% | 1.79% |
Frequently Asked Questions
PHYL and PHYD have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PHYL is cheaper at 0.53% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PHYL is cheaper with a 0.53% expense ratio, compared with 0.55% for PHYD.
PHYD has the higher dividend yield at 8.00%, compared with 6.96% for PHYL.
They also come from different issuers: PGIM and Putnam. Their fees differ too: 0.53% for PHYL and 0.55% for PHYD.
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