SHYG vs. HFSI
SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and HFSI (Hartford Strategic Income ETF) are both exchange-traded funds - SHYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield 0-5 Index, while HFSI is a Multisector Bonds fund actively managed by Hartford. SHYG is passively managed, while HFSI is actively managed. Over the past 3 years, SHYG returned 8.12%/yr vs 8.37%/yr for HFSI. A 0.59 correlation means they provide meaningful diversification when combined. SHYG charges 0.30%/yr vs 0.49%/yr for HFSI.
Performance
SHYG vs. HFSI - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SHYG having a 1.44% return and HFSI slightly lower at 1.38%.
SHYG
- 1D
- -0.24%
- 1M
- 0.35%
- YTD
- 1.44%
- 6M
- 1.95%
- 1Y
- 6.50%
- 3Y*
- 8.12%
- 5Y*
- 4.83%
- 10Y*
- 5.18%
HFSI
- 1D
- -0.20%
- 1M
- 0.87%
- YTD
- 1.38%
- 6M
- 1.51%
- 1Y
- 8.47%
- 3Y*
- 8.37%
- 5Y*
- —
- 10Y*
- —
SHYG vs. HFSI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 1.44% | 7.94% | 8.17% | 10.38% | -4.71% | 0.48% |
HFSI Hartford Strategic Income ETF | 1.38% | 9.56% | 7.91% | 9.91% | -12.60% | -1.57% |
Correlation
The correlation between SHYG and HFSI is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021 | 0.59 |
The correlation between SHYG and HFSI has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.
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Return for Risk
SHYG vs. HFSI — Risk / Return Rank
SHYG
HFSI
SHYG vs. HFSI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and Hartford Strategic Income ETF (HFSI). 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.
| SHYG | HFSI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.46 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.73 | 2.78 | +0.95 |
| Martin ratioReturn relative to average drawdown | 16.23 | 11.13 | +5.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHYG | HFSI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 2.37 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.55 | +0.18 |
Drawdowns
SHYG vs. HFSI - Drawdown Comparison
The maximum SHYG drawdown since its inception was -19.26%, roughly equal to the maximum HFSI drawdown of -19.34%. Use the drawdown chart below to compare losses from any high point for SHYG and HFSI.
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Drawdown Indicators
| SHYG | HFSI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -19.34% | +0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -3.06% | +1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -4.53% | -5.11% | +0.58% |
Max Drawdown (5Y)Largest decline over 5 years | -9.39% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.26% | — | — |
Current DrawdownCurrent decline from peak | -0.24% | -0.20% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -5.72% | +4.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.76% | -0.36% |
Volatility
SHYG vs. HFSI - Volatility Comparison
The current volatility for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) is 0.94%, while Hartford Strategic Income ETF (HFSI) has a volatility of 1.13%. This indicates that SHYG experiences smaller price fluctuations and is considered to be less risky than HFSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYG | HFSI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 1.13% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.51% | 2.52% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.16% | 3.58% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.73% | 4.97% | +0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.42% | 4.97% | +1.45% |
SHYG vs. HFSI - Expense Ratio Comparison
SHYG has a 0.30% expense ratio, which is lower than HFSI's 0.49% expense ratio.
Dividends
SHYG vs. HFSI - Dividend Comparison
SHYG's dividend yield for the trailing twelve months is around 7.02%, more than HFSI's 5.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HFSI Hartford Strategic Income ETF | 5.54% | 5.67% | 6.51% | 5.77% | 4.87% | 0.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 7.02% | 7.03% | 6.93% | 6.54% | 5.57% | 4.83% | 5.07% | 5.33% | 5.90% | 5.49% | 5.53% | 5.17% |
Frequently Asked Questions
SHYG and HFSI have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HFSI has higher volatility (1.13%) compared to SHYG (0.94%). In terms of maximum drawdown, SHYG dropped -19.26% vs HFSI's -19.34%.
On 3-year performance, HFSI leads with 8.37% vs 8.12% for SHYG. On fees, SHYG is cheaper at 0.30% per year. On volatility, SHYG has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HFSI has performed better with a 8.37% return vs 8.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHYG is cheaper with a 0.30% expense ratio, compared with 0.49% for HFSI.
SHYG has the higher dividend yield at 7.02%, compared with 5.54% for HFSI.
SHYG is categorized as High Yield Bonds, while HFSI is Multisector Bonds. They also come from different issuers: iShares and Hartford. Their fees differ too: 0.30% for SHYG and 0.49% for HFSI.
HFSI currently has the higher Sharpe Ratio (2.37 vs 2.07), 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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