SHYG vs. MHY
SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. SHYG is passively managed, while MHY is actively managed. A 0.79 correlation means they provide meaningful diversification when combined. SHYG charges 0.30%/yr vs 0.69%/yr for MHY.
Performance
SHYG vs. MHY - Performance Comparison
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Returns By Period
In the year-to-date period, SHYG achieves a 1.72% return, which is significantly lower than MHY's 4.09% return.
SHYG
- 1D
- -0.07%
- 1M
- 0.39%
- YTD
- 1.72%
- 6M
- 1.94%
- 1Y
- 6.03%
- 3Y*
- 8.27%
- 5Y*
- 4.78%
- 10Y*
- 5.21%
MHY
- 1D
- -0.04%
- 1M
- 1.72%
- YTD
- 4.09%
- 6M
- 4.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHYG vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 1.72% | 1.44% |
MHY Man Active High Yield ETF | 4.09% | 1.54% |
Correlation
The correlation between SHYG and MHY is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.79 |
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Return for Risk
SHYG vs. MHY — Risk / Return Rank
SHYG
MHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SHYG vs. MHY - 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 Man Active High Yield ETF (MHY). 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.
| SHYG | MHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.38 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | — | — |
| Martin ratioReturn relative to average drawdown | 14.95 | — | — |
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Drawdowns
SHYG vs. MHY - Drawdown Comparison
The maximum SHYG drawdown since its inception was -19.26%, which is greater than MHY's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for SHYG and MHY.
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Drawdown Indicators
| SHYG | MHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -1.58% | -17.68% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | — | — |
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 | -0.16% | -0.04% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -0.29% | -1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | — | — |
Volatility
SHYG vs. MHY - Volatility Comparison
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Volatility by Period
| SHYG | MHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.20% | 2.99% | +0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.74% | 2.99% | +2.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.41% | 2.99% | +3.42% |
SHYG vs. MHY - Expense Ratio Comparison
SHYG has a 0.30% expense ratio, which is lower than MHY's 0.69% expense ratio.
Dividends
SHYG vs. MHY - Dividend Comparison
SHYG's dividend yield for the trailing twelve months is around 7.00%, more than MHY's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MHY Man Active High Yield ETF | 3.55% | 3.42% | 0.00% | 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 | 7.00% | 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 MHY have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHYG is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHYG is cheaper with a 0.30% expense ratio, compared with 0.69% for MHY.
SHYG has the higher dividend yield at 7.00%, compared with 3.55% for MHY.
They also come from different issuers: iShares and Man Group. Their fees differ too: 0.30% for SHYG and 0.69% for MHY.
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