SHYG vs. PSH
Compare and contrast key facts about iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and PGIM Short Duration High Yield ETF (PSH).
SHYG and PSH 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. PSH is an actively managed fund by PGIM. It was launched on Dec 14, 2023.
Performance
SHYG vs. PSH - Performance Comparison
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SHYG vs. PSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | -0.02% | 7.94% | 8.17% | 0.09% |
PSH PGIM Short Duration High Yield ETF | 0.41% | 7.34% | 7.96% | 0.38% |
Returns By Period
In the year-to-date period, SHYG achieves a -0.02% return, which is significantly lower than PSH's 0.41% return.
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%
PSH
- 1D
- 1.05%
- 1M
- 0.01%
- YTD
- 0.41%
- 6M
- 1.51%
- 1Y
- 6.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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SHYG vs. PSH - Expense Ratio Comparison
SHYG has a 0.30% expense ratio, which is lower than PSH's 0.45% expense ratio.
Return for Risk
SHYG vs. PSH — Risk / Return Rank
SHYG
PSH
SHYG vs. PSH - 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 PGIM Short Duration High Yield ETF (PSH). 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 | PSH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.29 | 1.61 | -0.32 |
Sortino ratioReturn per unit of downside risk | 1.93 | 2.42 | -0.49 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.38 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.26 | -0.44 |
Martin ratioReturn relative to average drawdown | 10.29 | 10.56 | -0.27 |
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 | PSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.29 | 1.61 | -0.32 |
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 | 2.16 | -1.44 |
Correlation
The correlation between SHYG and PSH is 0.80, 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. PSH - Dividend Comparison
SHYG's dividend yield for the trailing twelve months is around 7.09%, less than PSH's 7.61% 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% |
PSH PGIM Short Duration High Yield ETF | 7.00% | 6.62% | 8.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SHYG vs. PSH - Drawdown Comparison
The maximum SHYG drawdown since its inception was -19.26%, which is greater than PSH's maximum drawdown of -3.06%. Use the drawdown chart below to compare losses from any high point for SHYG and PSH.
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Drawdown Indicators
| SHYG | PSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -3.06% | -16.20% |
Max Drawdown (1Y)Largest decline over 1 year | -3.77% | -2.84% | -0.93% |
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 | -0.62% | -0.30% | -0.32% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -0.27% | -1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.61% | +0.06% |
Volatility
SHYG vs. PSH - Volatility Comparison
iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) has a higher volatility of 1.96% compared to PGIM Short Duration High Yield ETF (PSH) at 1.55%. This indicates that SHYG's price experiences larger fluctuations and is considered to be riskier than PSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYG | PSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 1.55% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 1.98% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.20% | 3.93% | +1.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.71% | 3.30% | +2.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.43% | 3.30% | +3.13% |