RSEE vs. HYDB
RSEE (Rareview Systematic Equity ETF) and HYDB (iShares High Yield Bond Factor ETF) are both exchange-traded funds - RSEE is a Long-Short fund actively managed by Rareview Funds, while HYDB is a High Yield Bonds fund tracking the BlackRock High Yield Defensive Bond Index. RSEE is actively managed, while HYDB is passively managed. Over the past 3 years, RSEE returned 19.12%/yr vs 9.39%/yr for HYDB. A 0.67 correlation means they provide meaningful diversification when combined. RSEE charges 1.27%/yr vs 0.35%/yr for HYDB.
Performance
RSEE vs. HYDB - Performance Comparison
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Returns By Period
In the year-to-date period, RSEE achieves a 16.01% return, which is significantly higher than HYDB's 1.58% return.
RSEE
- 1D
- -0.19%
- 1M
- 2.50%
- YTD
- 16.01%
- 6M
- 15.56%
- 1Y
- 38.14%
- 3Y*
- 19.12%
- 5Y*
- —
- 10Y*
- —
HYDB
- 1D
- -0.11%
- 1M
- 0.52%
- YTD
- 1.58%
- 6M
- 1.86%
- 1Y
- 6.61%
- 3Y*
- 9.39%
- 5Y*
- 4.60%
- 10Y*
- —
RSEE vs. HYDB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
RSEE Rareview Systematic Equity ETF | 16.01% | 20.54% | 18.54% | 10.21% | -2.49% |
HYDB iShares High Yield Bond Factor ETF | 1.58% | 8.10% | 9.11% | 14.02% | -8.50% |
Correlation
The correlation between RSEE and HYDB is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2022 | 0.67 |
The correlation between RSEE and HYDB shifts across timeframes, from 0.67 (all time) to 0.78 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
RSEE vs. HYDB — Risk / Return Rank
RSEE
HYDB
RSEE vs. HYDB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rareview Systematic Equity ETF (RSEE) 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.
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.
| RSEE | HYDB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.33 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.97 | 2.34 | +0.63 |
| Martin ratioReturn relative to average drawdown | 12.03 | 10.32 | +1.71 |
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Drawdowns
RSEE vs. HYDB - Drawdown Comparison
The maximum RSEE drawdown since its inception was -21.60%, roughly equal to the maximum HYDB drawdown of -21.58%. Use the drawdown chart below to compare losses from any high point for RSEE and HYDB.
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Drawdown Indicators
| RSEE | HYDB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.60% | -21.58% | -0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -12.89% | -2.83% | -10.06% |
Max Drawdown (3Y)Largest decline over 3 years | -21.60% | -5.58% | -16.02% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.28% | — |
Current DrawdownCurrent decline from peak | -0.90% | -0.20% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -3.77% | -2.38% | -1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.18% | 0.64% | +2.54% |
Volatility
RSEE vs. HYDB - Volatility Comparison
Rareview Systematic Equity ETF (RSEE) has a higher volatility of 7.43% compared to iShares High Yield Bond Factor ETF (HYDB) at 1.05%. This indicates that RSEE's price experiences larger fluctuations and is considered to be riskier than HYDB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RSEE | HYDB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.43% | 1.05% | +6.38% |
Volatility (6M)Calculated over the trailing 6-month period | 15.27% | 3.03% | +12.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.63% | 3.85% | +14.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.17% | 7.05% | +12.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.17% | 7.74% | +11.43% |
RSEE vs. HYDB - Expense Ratio Comparison
RSEE has a 1.27% expense ratio, which is higher than HYDB's 0.35% expense ratio.
Dividends
RSEE vs. HYDB - Dividend Comparison
RSEE has not paid dividends to shareholders, while HYDB's dividend yield for the trailing twelve months is around 6.98%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 6.98% | 7.04% | 6.95% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.16% | 2.70% |
RSEE Rareview Systematic Equity ETF | 0.00% | 0.24% | 9.02% | 0.84% | 1.97% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RSEE and HYDB have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RSEE has higher volatility (7.43%) compared to HYDB (1.05%). In terms of maximum drawdown, RSEE dropped -21.60% vs HYDB's -21.58%.
On 3-year performance, RSEE leads with 19.12% vs 9.39% for HYDB. On fees, HYDB is cheaper at 0.35% per year. On volatility, HYDB has been the lower-risk option at 1.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, RSEE has performed better with a 19.12% return vs 9.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYDB is cheaper with a 0.35% expense ratio, compared with 1.27% for RSEE.
HYDB has the higher dividend yield at 6.98%, compared with 0.00% for RSEE.
RSEE is categorized as Long-Short, while HYDB is High Yield Bonds. They also come from different issuers: Rareview Funds and iShares. Their fees differ too: 1.27% for RSEE and 0.35% for HYDB.
RSEE currently has the higher Sharpe Ratio (2.06 vs 1.73), 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.
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