SHYG vs. SCHF
SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and SCHF (Schwab International Equity 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 SCHF is a Foreign Large Cap Equities fund tracking the FTSE Developed ex U.S. Index. Both are passively managed. Over the past 10 years, SHYG returned 5.22%/yr vs 10.82%/yr for SCHF. A 0.66 correlation means they provide meaningful diversification when combined. SHYG charges 0.30%/yr vs 0.06%/yr for SCHF.
Performance
SHYG vs. SCHF - 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 SCHF's 15.39% return. Over the past 10 years, SHYG has underperformed SCHF with an annualized return of 5.22%, while SCHF has yielded a comparatively higher 10.82% annualized return.
SHYG
- 1D
- 0.05%
- 1M
- 0.85%
- YTD
- 1.72%
- 6M
- 2.29%
- 1Y
- 6.70%
- 3Y*
- 8.09%
- 5Y*
- 4.82%
- 10Y*
- 5.22%
SCHF
- 1D
- 0.29%
- 1M
- 3.90%
- YTD
- 15.39%
- 6M
- 17.24%
- 1Y
- 31.75%
- 3Y*
- 19.18%
- 5Y*
- 9.76%
- 10Y*
- 10.82%
SHYG vs. SCHF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 1.72% | 7.94% | 8.17% | 10.38% | -4.71% | 4.60% | 3.15% | 9.93% | 0.02% | 5.11% |
SCHF Schwab International Equity ETF | 15.39% | 34.55% | 3.28% | 18.35% | -14.80% | 11.40% | 9.48% | 22.26% | -14.29% | 26.03% |
Correlation
The correlation between SHYG and SCHF is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.66 |
The correlation between SHYG and SCHF has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.
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Return for Risk
SHYG vs. SCHF — Risk / Return Rank
SHYG
SCHF
SHYG vs. SCHF - 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 Schwab International Equity ETF (SCHF). 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 | SCHF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.33 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 2.64 | +1.06 |
| Martin ratioReturn relative to average drawdown | 16.02 | 10.14 | +5.88 |
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Drawdowns
SHYG vs. SCHF - Drawdown Comparison
The maximum SHYG drawdown since its inception was -19.26%, smaller than the maximum SCHF drawdown of -34.87%. Use the drawdown chart below to compare losses from any high point for SHYG and SCHF.
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Drawdown Indicators
| SHYG | SCHF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -34.87% | +15.61% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -11.48% | +9.73% |
Max Drawdown (3Y)Largest decline over 3 years | -4.53% | -13.41% | +8.88% |
Max Drawdown (5Y)Largest decline over 5 years | -9.39% | -29.14% | +19.75% |
Max Drawdown (10Y)Largest decline over 10 years | -19.26% | -34.87% | +15.61% |
Current DrawdownCurrent decline from peak | 0.00% | -1.00% | +1.00% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -7.37% | +5.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 2.99% | -2.59% |
Volatility
SHYG vs. SCHF - Volatility Comparison
The current volatility for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) is 0.98%, while Schwab International Equity ETF (SCHF) has a volatility of 6.91%. This indicates that SHYG experiences smaller price fluctuations and is considered to be less risky than SCHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYG | SCHF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 6.91% | -5.93% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 14.42% | -11.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.20% | 16.67% | -13.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.73% | 16.56% | -10.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.42% | 17.24% | -10.82% |
SHYG vs. SCHF - Expense Ratio Comparison
SHYG has a 0.30% expense ratio, which is higher than SCHF's 0.06% expense ratio.
Dividends
SHYG vs. SCHF - Dividend Comparison
SHYG's dividend yield for the trailing twelve months is around 7.00%, more than SCHF's 2.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHF Schwab International Equity ETF | 2.96% | 3.42% | 3.26% | 2.97% | 2.80% | 3.19% | 2.08% | 2.95% | 3.06% | 2.35% | 2.58% | 2.26% |
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 SCHF have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHF has higher volatility (6.91%) compared to SHYG (0.98%). In terms of maximum drawdown, SHYG dropped -19.26% vs SCHF's -34.87%.
On 10-year performance, SCHF leads with 10.82% vs 5.22% for SHYG. On fees, SCHF is cheaper at 0.06% per year. On volatility, SHYG has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHF has performed better with a 10.82% return vs 5.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHF is cheaper with a 0.06% expense ratio, compared with 0.30% for SHYG.
SHYG has the higher dividend yield at 7.00%, compared with 2.96% for SCHF.
SHYG is categorized as High Yield Bonds, while SCHF is Foreign Large Cap Equities. SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index, while SCHF tracks FTSE Developed ex U.S. Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.30% for SHYG and 0.06% for SCHF.
SHYG currently has the higher Sharpe Ratio (2.02 vs 1.82), 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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