SHYG vs. MAXJ
SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and MAXJ (iShares Large Cap Max Buffer Jun 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 MAXJ is a Equity Hedged fund actively managed by iShares. SHYG is passively managed, while MAXJ is actively managed. Over the past year, SHYG returned 6.50% vs 9.25% for MAXJ. A 0.59 correlation means they provide meaningful diversification when combined. SHYG charges 0.30%/yr vs 0.50%/yr for MAXJ.
Performance
SHYG vs. MAXJ - Performance Comparison
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Returns By Period
In the year-to-date period, SHYG achieves a 1.44% return, which is significantly lower than MAXJ's 2.88% return.
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%
MAXJ
- 1D
- 0.03%
- 1M
- 0.82%
- YTD
- 2.88%
- 6M
- 3.34%
- 1Y
- 9.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHYG vs. MAXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 1.44% | 7.94% | 5.21% |
MAXJ iShares Large Cap Max Buffer Jun ETF | 2.88% | 8.97% | 4.55% |
Correlation
The correlation between SHYG and MAXJ is 0.62, 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 | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024 | 0.59 |
The correlation between SHYG and MAXJ has been stable across timeframes, ranging from 0.59 to 0.62 - a consistent structural relationship.
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Return for Risk
SHYG vs. MAXJ — Risk / Return Rank
SHYG
MAXJ
SHYG vs. MAXJ - 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 Large Cap Max Buffer Jun ETF (MAXJ). 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 | MAXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -2.08 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.76 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 3.73 | 5.45 | -1.72 |
| Martin ratioReturn relative to average drawdown | 16.23 | 30.88 | -14.64 |
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 | MAXJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 3.19 | -1.13 |
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 | 1.64 | -0.91 |
Drawdowns
SHYG vs. MAXJ - Drawdown Comparison
The maximum SHYG drawdown since its inception was -19.26%, which is greater than MAXJ's maximum drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for SHYG and MAXJ.
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Drawdown Indicators
| SHYG | MAXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -6.35% | -12.91% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -1.70% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -4.53% | — | — |
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% | 0.00% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -0.56% | -0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.30% | +0.10% |
Volatility
SHYG vs. MAXJ - Volatility Comparison
iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) has a higher volatility of 0.94% compared to iShares Large Cap Max Buffer Jun ETF (MAXJ) at 0.30%. This indicates that SHYG's price experiences larger fluctuations and is considered to be riskier than MAXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYG | MAXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 0.30% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 2.51% | 1.93% | +0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.16% | 2.93% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.73% | 5.28% | +0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.42% | 5.28% | +1.14% |
SHYG vs. MAXJ - Expense Ratio Comparison
SHYG has a 0.30% expense ratio, which is lower than MAXJ's 0.50% expense ratio.
Dividends
SHYG vs. MAXJ - Dividend Comparison
SHYG's dividend yield for the trailing twelve months is around 7.02%, more than MAXJ's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MAXJ iShares Large Cap Max Buffer Jun ETF | 0.98% | 1.01% | 0.81% | 0.00% | 0.00% | 0.00% | 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 MAXJ have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYG has higher volatility (0.94%) compared to MAXJ (0.30%). In terms of maximum drawdown, SHYG dropped -19.26% vs MAXJ's -6.35%.
On 1-year performance, MAXJ leads with 9.25% vs 6.50% for SHYG. On fees, SHYG is cheaper at 0.30% per year. On volatility, MAXJ has been the lower-risk option at 0.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MAXJ has performed better with a 9.25% return vs 6.50%. 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 0.50% for MAXJ.
SHYG has the higher dividend yield at 7.02%, compared with 0.98% for MAXJ.
SHYG is categorized as High Yield Bonds, while MAXJ is Equity Hedged. Their fees differ too: 0.30% for SHYG and 0.50% for MAXJ.
MAXJ currently has the higher Sharpe Ratio (3.19 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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