SCYB vs. HYBI

Last updated Jun 4, 2026

SCYB (Schwab High Yield Bond ETF) and HYBI (NEOS Enhanced Income Credit Select ETF) are both exchange-traded funds - SCYB is a High Yield Bonds fund tracking the ICE BofA US Cash Pay High Yield Constrained Index, while HYBI is a Nontraditional Bonds fund actively managed by Neos. SCYB is passively managed, while HYBI is actively managed. Over the past year, SCYB returned 6.99% vs 7.35% for HYBI. Their correlation of 0.86 suggests significant overlap in exposure. SCYB charges 0.03%/yr vs 0.68%/yr for HYBI.

Performance

SCYB vs. HYBI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab High Yield Bond ETF (SCYB) and NEOS Enhanced Income Credit Select ETF (HYBI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SCYB having a 1.55% return and HYBI slightly higher at 1.56%.

SCYB

• 1D: -0.29%
• 1M: 0.36%
• YTD: 1.55%
• 6M: 1.87%
• 1Y: 6.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYBI

• 1D: -0.24%
• 1M: 0.27%
• YTD: 1.56%
• 6M: 2.01%
• 1Y: 7.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCYB vs. HYBI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCYB Schwab High Yield Bond ETF	1.55%	8.33%	0.07%
HYBI NEOS Enhanced Income Credit Select ETF	1.56%	6.97%	-0.48%

Correlation

The correlation between SCYB and HYBI is 0.87, 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	0.87
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	0.86

The correlation between SCYB and HYBI has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.

SCYB vs. HYBI - Sectors Allocation Comparison

Sectors	SCYB	HYBI
Consumer Cyclical	10.6%	10.1%
Communication Services	8.9%	11.2%
Industrials	8.7%	8.3%
Healthcare	5.8%	8.5%
Energy	5.8%	3.6%
Financial Services	4.9%	11.8%
Technology	4.5%	35.6%
Real Estate	4.2%	1.9%
Basic Materials	3.5%	1.8%
Consumer Defensive	2.5%	4.9%
Utilities	2.0%	2.3%

Return for Risk

SCYB vs. HYBI — Risk / Return Rank

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

SCYB

SCYB Risk / Return Rank: 59
SCYB Sharpe Ratio Rank: 54
SCYB Sortino Ratio Rank: 58
SCYB Omega Ratio Rank: 59
SCYB Calmar Ratio Rank: 57
SCYB Martin Ratio Rank: 68

HYBI

HYBI Risk / Return Rank: 78
HYBI Sharpe Ratio Rank: 69
HYBI Sortino Ratio Rank: 77
HYBI Omega Ratio Rank: 74
HYBI Calmar Ratio Rank: 88
HYBI Martin Ratio Rank: 83

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.

SCYB vs. HYBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab High Yield Bond ETF (SCYB) and NEOS Enhanced Income Credit Select ETF (HYBI). 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.

	SCYB	HYBI	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.29	-0.42
Sortino ratio: Return per unit of downside risk	2.81	3.51	-0.70
Omega ratio: Gain probability vs. loss probability	1.37	1.45	-0.08
Calmar ratio: Return relative to maximum drawdown	2.87	5.17	-2.29
Martin ratio: Return relative to average drawdown	12.87	16.91	-4.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCYB vs. HYBI - Sharpe Ratio Comparison

The current SCYB Sharpe Ratio is 1.88, which is comparable to the HYBI Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of SCYB and HYBI, 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

	SCYB	HYBI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	2.29	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	1.68	0.97	+0.71

Drawdowns

SCYB vs. HYBI - Drawdown Comparison

The maximum SCYB drawdown since its inception was -4.92%, which is greater than HYBI's maximum drawdown of -4.68%. Use the drawdown chart below to compare losses from any high point for SCYB and HYBI.

Drawdown Indicators

	SCYB	HYBI	Difference
Max Drawdown Largest peak-to-trough decline	-4.92%	-4.68%	-0.24%
Max Drawdown (1Y) Largest decline over 1 year	-2.44%	-1.43%	-1.01%
Current Drawdown Current decline from peak	-0.33%	-0.24%	-0.09%
Average Drawdown Average peak-to-trough decline	-0.52%	-0.62%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.44%	+0.10%

Volatility

SCYB vs. HYBI - Volatility Comparison

Schwab High Yield Bond ETF (SCYB) has a higher volatility of 1.07% compared to NEOS Enhanced Income Credit Select ETF (HYBI) at 0.98%. This indicates that SCYB's price experiences larger fluctuations and is considered to be riskier than HYBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCYB	HYBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	0.98%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	2.13%	+0.80%
Volatility (1Y) Calculated over the trailing 1-year period	3.76%	3.23%	+0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.13%	4.94%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.13%	4.94%	+0.19%

SCYB vs. HYBI - Expense Ratio Comparison

SCYB has a 0.03% expense ratio, which is lower than HYBI's 0.68% expense ratio.

Dividends

SCYB vs. HYBI - Dividend Comparison

SCYB's dividend yield for the trailing twelve months is around 6.94%, less than HYBI's 8.37% yield.

Position	TTM	2025	2024	2023
HYBI NEOS Enhanced Income Credit Select ETF	8.37%	8.48%	2.21%	0.00%
SCYB Schwab High Yield Bond ETF	6.94%	6.99%	7.06%	3.36%

Frequently Asked Questions

Can I hold both SCYB and HYBI in my portfolio?

SCYB and HYBI have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCYB or HYBI?

SCYB has higher volatility (1.07%) compared to HYBI (0.98%). In terms of maximum drawdown, SCYB dropped -4.92% vs HYBI's -4.68%.

Which ETF is better, SCYB or HYBI?

On 1-year performance, HYBI leads with 7.35% vs 6.99% for SCYB. On fees, SCYB is cheaper at 0.03% 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, SCYB or HYBI?

Over the 1-year period, HYBI has performed better with a 7.35% return vs 6.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCYB or HYBI?

SCYB is cheaper with a 0.03% expense ratio, compared with 0.68% for HYBI.

Which ETF pays a higher dividend yield, SCYB or HYBI?

HYBI has the higher dividend yield at 8.37%, compared with 6.94% for SCYB.

What is the main difference between SCYB and HYBI?

SCYB is categorized as High Yield Bonds, while HYBI is Nontraditional Bonds. They also come from different issuers: Charles Schwab and Neos. Their fees differ too: 0.03% for SCYB and 0.68% for HYBI.

Which has better risk-adjusted returns?

HYBI currently has the higher Sharpe Ratio (2.29 vs 1.88), 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.