SCYB vs. USHY

Last updated Jun 4, 2026

SCYB (Schwab High Yield Bond ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - SCYB tracks the ICE BofA US Cash Pay High Yield Constrained Index while USHY tracks the ICE BofA US High Yield Constrained. Both are passively managed. Over the past year, SCYB returned 6.99% vs 7.02% for USHY. Their correlation of 0.95 suggests significant overlap in exposure. SCYB charges 0.03%/yr vs 0.15%/yr for USHY.

Performance

SCYB vs. USHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab High Yield Bond ETF (SCYB) and iShares Broad USD High Yield Corporate Bond ETF (USHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCYB achieves a 1.55% return, which is significantly higher than USHY's 1.42% return.

SCYB

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

USHY

• 1D: -0.27%
• 1M: 0.40%
• YTD: 1.42%
• 6M: 1.77%
• 1Y: 7.02%
• 3Y*: 8.91%
• 5Y*: 4.24%
• 10Y*: —

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

SCYB vs. USHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SCYB Schwab High Yield Bond ETF	1.55%	8.33%	8.15%	6.74%
USHY iShares Broad USD High Yield Corporate Bond ETF	1.42%	8.81%	8.45%	7.13%

Correlation

The correlation between SCYB and USHY is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Jul 12, 2023	0.95

The correlation between SCYB and USHY has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

SCYB vs. USHY - Sectors Allocation Comparison

Sectors	SCYB	USHY
Consumer Cyclical	10.6%	-
Communication Services	8.9%	-
Industrials	8.7%	-
Healthcare	5.8%	-
Energy	5.8%	99.2%
Financial Services	4.9%	-
Technology	4.5%	-
Real Estate	4.2%	0.8%
Basic Materials	3.5%	-
Consumer Defensive	2.5%	-
Utilities	2.0%	-

Return for Risk

SCYB vs. USHY — 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

USHY

USHY Risk / Return Rank: 60
USHY Sharpe Ratio Rank: 55
USHY Sortino Ratio Rank: 61
USHY Omega Ratio Rank: 60
USHY Calmar Ratio Rank: 58
USHY Martin Ratio Rank: 69

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. USHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab High Yield Bond ETF (SCYB) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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	USHY	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.93	-0.06
Sortino ratio: Return per unit of downside risk	2.81	2.91	-0.10
Omega ratio: Gain probability vs. loss probability	1.37	1.37	-0.01
Calmar ratio: Return relative to maximum drawdown	2.87	2.90	-0.03
Martin ratio: Return relative to average drawdown	12.87	13.03	-0.16
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. USHY - Sharpe Ratio Comparison

The current SCYB Sharpe Ratio is 1.88, which is comparable to the USHY Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of SCYB and USHY, 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	USHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.93	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.68	0.58	+1.11

Drawdowns

SCYB vs. USHY - Drawdown Comparison

The maximum SCYB drawdown since its inception was -4.92%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for SCYB and USHY.

Drawdown Indicators

	SCYB	USHY	Difference
Max Drawdown Largest peak-to-trough decline	-4.92%	-22.44%	+17.52%
Max Drawdown (1Y) Largest decline over 1 year	-2.44%	-2.43%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.56%	—
Current Drawdown Current decline from peak	-0.33%	-0.27%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.52%	-2.67%	+2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.54%	0.00%

Volatility

SCYB vs. USHY - Volatility Comparison

The current volatility for Schwab High Yield Bond ETF (SCYB) is 1.07%, while iShares Broad USD High Yield Corporate Bond ETF (USHY) has a volatility of 1.13%. This indicates that SCYB experiences smaller price fluctuations and is considered to be less risky than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCYB	USHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	1.13%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	2.91%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	3.76%	3.65%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.13%	7.34%	-2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.13%	8.25%	-3.12%

SCYB vs. USHY - Expense Ratio Comparison

SCYB has a 0.03% expense ratio, which is lower than USHY's 0.15% 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. USHY - Dividend Comparison

SCYB's dividend yield for the trailing twelve months is around 6.94%, which matches USHY's 6.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCYB Schwab High Yield Bond ETF	6.94%	6.99%	7.06%	3.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USHY iShares Broad USD High Yield Corporate Bond ETF	6.92%	6.79%	6.89%	6.63%	6.08%	5.07%	5.30%	5.92%	6.30%	0.73%

Frequently Asked Questions

Can I hold both SCYB and USHY in my portfolio?

With a correlation of 0.94, SCYB and USHY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SCYB or USHY?

USHY has higher volatility (1.13%) compared to SCYB (1.07%). In terms of maximum drawdown, SCYB dropped -4.92% vs USHY's -22.44%.

Which ETF is better, SCYB or USHY?

On 1-year performance, USHY leads with 7.02% 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 USHY?

Over the 1-year period, USHY has performed better with a 7.02% 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 USHY?

SCYB is cheaper with a 0.03% expense ratio, compared with 0.15% for USHY.

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

SCYB has the higher dividend yield at 6.94%, compared with 6.92% for USHY.

What is the main difference between SCYB and USHY?

SCYB tracks ICE BofA US Cash Pay High Yield Constrained Index, while USHY tracks ICE BofA US High Yield Constrained. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.03% for SCYB and 0.15% for USHY.

Which has better risk-adjusted returns?

USHY currently has the higher Sharpe Ratio (1.93 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.