SCYB vs. FALN
Compare and contrast key facts about Schwab High Yield Bond ETF (SCYB) and iShares Fallen Angels USD Bond ETF (FALN).
SCYB and FALN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SCYB is a passively managed fund by Charles Schwab that tracks the performance of the ICE BofA US Cash Pay High Yield Constrained Index. It was launched on Jul 10, 2023. FALN is a passively managed fund by iShares that tracks the performance of the Bloomberg US High Yield Fallen Angel 3% Capped Index. It was launched on Jun 14, 2016. Both SCYB and FALN 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: SCYB or FALN.
Key characteristics
| SCYB | FALN | |
|---|---|---|
| YTD Return | 10.64% | 7.97% |
| 1Y Return | 16.51% | 13.32% |
| Sharpe Ratio | 3.81 | 2.96 |
| Sortino Ratio | 6.21 | 4.55 |
| Omega Ratio | 1.78 | 1.58 |
| Calmar Ratio | 8.50 | 1.88 |
| Martin Ratio | 33.36 | 20.88 |
| Ulcer Index | 0.53% | 0.69% |
| Daily Std Dev | 4.64% | 4.89% |
| Max Drawdown | -3.57% | -29.22% |
| Current Drawdown | -0.49% | -0.48% |
Correlation
The correlation between SCYB and FALN is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SCYB vs. FALN - Performance Comparison
In the year-to-date period, SCYB achieves a 10.64% return, which is significantly higher than FALN's 7.97% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SCYB vs. FALN - Expense Ratio Comparison
SCYB has a 0.03% expense ratio, which is lower than FALN's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
SCYB vs. FALN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab High Yield Bond ETF (SCYB) and iShares Fallen Angels USD Bond ETF (FALN). 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
SCYB vs. FALN - Dividend Comparison
SCYB's dividend yield for the trailing twelve months is around 10.18%, more than FALN's 6.08% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|
SCYB Schwab High Yield Bond ETF | 10.18% | 3.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FALN iShares Fallen Angels USD Bond ETF | 6.08% | 5.38% | 5.08% | 3.39% | 5.14% | 5.35% | 5.97% | 6.99% | 3.54% |
Drawdowns
SCYB vs. FALN - Drawdown Comparison
The maximum SCYB drawdown since its inception was -3.57%, smaller than the maximum FALN drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for SCYB and FALN. For additional features, visit the drawdowns tool.
Volatility
SCYB vs. FALN - Volatility Comparison
The current volatility for Schwab High Yield Bond ETF (SCYB) is 1.21%, while iShares Fallen Angels USD Bond ETF (FALN) has a volatility of 1.43%. This indicates that SCYB experiences smaller price fluctuations and is considered to be less risky than FALN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.