SHYG vs. HYGI

Last updated Apr 2, 2026

Compare and contrast key facts about iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and iShares Inflation Hedged High Yield Bond ETF (HYGI).

SHYG and HYGI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHYG is a passively managed fund by iShares that tracks the performance of the Markit iBoxx USD Liquid High Yield 0-5 Index. It was launched on Oct 15, 2013. HYGI is a passively managed fund by iShares that tracks the performance of the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. It was launched on Jun 22, 2022. Both SHYG and HYGI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SHYG vs. HYGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and iShares Inflation Hedged High Yield Bond ETF (HYGI). The values are adjusted to include any dividend payments, if applicable.

SHYG vs. HYGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	-0.02%	7.94%	8.17%	10.38%	2.68%
HYGI iShares Inflation Hedged High Yield Bond ETF	0.00%	6.20%	9.16%	11.71%	0.65%

Returns By Period

SHYG

• 1D: 0.15%
• 1M: -0.32%
• YTD: -0.02%
• 6M: 1.12%
• 1Y: 6.67%
• 3Y*: 7.72%
• 5Y*: 4.76%
• 10Y*: 5.36%

HYGI

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHYG vs. HYGI - Expense Ratio Comparison

SHYG has a 0.30% expense ratio, which is lower than HYGI's 0.52% expense ratio.

HYGI

iShares Inflation Hedged High Yield Bond ETF

SHYG

iShares 0-5 Year High Yield Corporate Bond ETF

Return for Risk

SHYG vs. HYGI — Risk / Return Rank

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

SHYG

SHYG Risk / Return Rank: 76
SHYG Sharpe Ratio Rank: 71
SHYG Sortino Ratio Rank: 74
SHYG Omega Ratio Rank: 82
SHYG Calmar Ratio Rank: 69
SHYG Martin Ratio Rank: 85

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.

SHYG vs. HYGI - 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 iShares Inflation Hedged High Yield Bond ETF (HYGI). 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	HYGI	Difference
Sharpe ratio Return per unit of total volatility	1.29	—	—
Sortino ratio Return per unit of downside risk	1.93	—	—
Omega ratio Gain probability vs. loss probability	1.33	—	—
Calmar ratio Return relative to maximum drawdown	1.82	—	—
Martin ratio Return relative to average drawdown	10.29	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SHYG	HYGI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	—	—

Correlation

The correlation between SHYG and HYGI is 0.86, 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.

Dividends

SHYG vs. HYGI - Dividend Comparison

SHYG's dividend yield for the trailing twelve months is around 7.09%, more than HYGI's 2.46% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	7.09%	7.03%	6.93%	6.54%	5.57%	4.83%	5.07%	5.33%	5.90%	5.49%	5.53%	5.17%
HYGI iShares Inflation Hedged High Yield Bond ETF	2.46%	3.41%	6.08%	6.22%	3.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	SHYG	HYGI	Difference
Max Drawdown Largest peak-to-trough decline	-19.26%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.39%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.26%	—	—
Current Drawdown Current decline from peak	-0.62%	—	—
Average Drawdown Average peak-to-trough decline	-1.46%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	—	—

Volatility

Volatility by Period

	SHYG	HYGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.20%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.71%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.43%	—	—