SHYG vs. NHYB
SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds - SHYG tracks the Markit iBoxx USD Liquid High Yield 0-5 Index while NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index. Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. SHYG charges 0.30%/yr vs 0.08%/yr for NHYB.
Performance
SHYG vs. NHYB - 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 NHYB's 1.91% 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%
NHYB
- 1D
- -0.04%
- 1M
- 0.52%
- YTD
- 1.91%
- 6M
- 1.99%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHYG vs. NHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 1.72% | 1.23% |
NHYB Nuveen High Yield Corporate Bond ETF | 1.91% | 1.24% |
Correlation
The correlation between SHYG and NHYB is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025 | 0.90 |
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Return for Risk
SHYG vs. NHYB — Risk / Return Rank
SHYG
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SHYG vs. NHYB - 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 Nuveen High Yield Corporate Bond ETF (NHYB). 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 | NHYB | 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. NHYB - Drawdown Comparison
The maximum SHYG drawdown since its inception was -19.26%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for SHYG and NHYB.
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Drawdown Indicators
| SHYG | NHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -2.40% | -16.86% |
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% | -0.20% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -0.36% | -1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | — | — |
Volatility
SHYG vs. NHYB - Volatility Comparison
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Volatility by Period
| SHYG | NHYB | 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% | 3.64% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.74% | 3.64% | +2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.41% | 3.64% | +2.77% |
SHYG vs. NHYB - Expense Ratio Comparison
SHYG has a 0.30% expense ratio, which is higher than NHYB's 0.08% expense ratio.
Dividends
SHYG vs. NHYB - Dividend Comparison
SHYG's dividend yield for the trailing twelve months is around 7.00%, more than NHYB's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NHYB Nuveen High Yield Corporate Bond ETF | 4.25% | 1.28% | 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
With a correlation of 0.90, SHYG and NHYB 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.
On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NHYB is cheaper with a 0.08% expense ratio, compared with 0.30% for SHYG.
SHYG has the higher dividend yield at 7.00%, compared with 4.25% for NHYB.
SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index, while NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index. They also come from different issuers: iShares and Nuveen. Their fees differ too: 0.30% for SHYG and 0.08% for NHYB.
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