SCYB vs. NHYB

Last updated Jun 24, 2026

SCYB (Schwab High Yield Bond ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds - SCYB tracks the ICE BofA US Cash Pay High Yield Constrained Index while NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index. Both are passively managed. Their correlation of 0.88 suggests significant overlap in exposure. SCYB charges 0.03%/yr vs 0.08%/yr for NHYB.

Performance

SCYB vs. NHYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab High Yield Bond ETF (SCYB) and Nuveen High Yield Corporate Bond ETF (NHYB). 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 1.84% return and NHYB slightly higher at 1.91%.

SCYB

• 1D: -0.08%
• 1M: 0.42%
• YTD: 1.84%
• 6M: 1.96%
• 1Y: 6.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NHYB

• 1D: -0.04%
• 1M: 0.52%
• YTD: 1.91%
• 6M: 1.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCYB vs. NHYB - Yearly Performance Comparison

	2026 (YTD)	2025
SCYB Schwab High Yield Bond ETF	1.84%	1.02%
NHYB Nuveen High Yield Corporate Bond ETF	1.91%	1.24%

Correlation

The correlation between SCYB and NHYB is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.88

Return for Risk

SCYB vs. NHYB — Risk / Return Rank

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

SCYB

SCYB Risk / Return Rank: 56
SCYB Sharpe Ratio Rank: 51
SCYB Sortino Ratio Rank: 55
SCYB Omega Ratio Rank: 55
SCYB Calmar Ratio Rank: 55
SCYB Martin Ratio Rank: 66

NHYB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. NHYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab High Yield Bond ETF (SCYB) and Nuveen High Yield Corporate Bond ETF (NHYB). 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.

	SCYB	NHYB	Difference
Sharpe ratio: Return per unit of total volatility	1.69	—	—
Sortino ratio: Return per unit of downside risk	2.53	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	2.62	—	—
Martin ratio: Return relative to average drawdown	11.63	—	—

Drawdowns

SCYB vs. NHYB - Drawdown Comparison

The maximum SCYB drawdown since its inception was -4.92%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for SCYB and NHYB.

Drawdown Indicators

	SCYB	NHYB	Difference
Max Drawdown Largest peak-to-trough decline	-4.92%	-2.40%	-2.52%
Max Drawdown (1Y) Largest decline over 1 year	-2.44%	—	—
Current Drawdown Current decline from peak	-0.23%	-0.20%	-0.03%
Average Drawdown Average peak-to-trough decline	-0.51%	-0.36%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	—	—

Volatility

Volatility by Period

	SCYB	NHYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.01%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	3.64%	+0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.11%	3.64%	+1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.11%	3.64%	+1.47%

SCYB vs. NHYB - Expense Ratio Comparison

SCYB has a 0.03% expense ratio, which is lower than NHYB's 0.08% 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%.

Dividends

SCYB vs. NHYB - Dividend Comparison

SCYB's dividend yield for the trailing twelve months is around 6.92%, more than NHYB's 4.25% yield.

Position	TTM	2025	2024	2023
NHYB Nuveen High Yield Corporate Bond ETF	4.25%	1.28%	0.00%	0.00%
SCYB Schwab High Yield Bond ETF	6.92%	6.99%	7.06%	3.36%

Frequently Asked Questions

Can I hold both SCYB and NHYB in my portfolio?

SCYB and NHYB have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SCYB or NHYB?

On fees, SCYB is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SCYB or NHYB?

SCYB is cheaper with a 0.03% expense ratio, compared with 0.08% for NHYB.

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

SCYB has the higher dividend yield at 6.92%, compared with 4.25% for NHYB.

What is the main difference between SCYB and NHYB?

SCYB tracks ICE BofA US Cash Pay High Yield Constrained Index, while NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index. They also come from different issuers: Charles Schwab and Nuveen. Their fees differ too: 0.03% for SCYB and 0.08% for NHYB.