SHYG vs. SCHG
SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and SCHG (Schwab U.S. Large-Cap Growth 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 SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. Both are passively managed. Over the past 10 years, SHYG returned 5.22%/yr vs 18.50%/yr for SCHG. A 0.65 correlation means they provide meaningful diversification when combined. SHYG charges 0.30%/yr vs 0.04%/yr for SCHG.
Performance
SHYG vs. SCHG - 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 SCHG's 2.58% return. Over the past 10 years, SHYG has underperformed SCHG with an annualized return of 5.22%, while SCHG has yielded a comparatively higher 18.50% 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%
SCHG
- 1D
- 0.12%
- 1M
- -2.45%
- YTD
- 2.58%
- 6M
- 2.96%
- 1Y
- 20.32%
- 3Y*
- 22.68%
- 5Y*
- 14.33%
- 10Y*
- 18.50%
SHYG vs. SCHG - 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% |
SCHG Schwab U.S. Large-Cap Growth ETF | 2.58% | 17.50% | 34.95% | 50.10% | -31.80% | 28.11% | 39.14% | 36.02% | -1.36% | 28.05% |
Correlation
The correlation between SHYG and SCHG is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
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 | 0.65 |
The correlation between SHYG and SCHG has been stable across timeframes, ranging from 0.61 to 0.68 - a consistent structural relationship.
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Return for Risk
SHYG vs. SCHG — Risk / Return Rank
SHYG
SCHG
SHYG vs. SCHG - 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 U.S. Large-Cap Growth ETF (SCHG). 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 | SCHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.21 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 1.14 | +2.56 |
| Martin ratioReturn relative to average drawdown | 16.02 | 3.78 | +12.25 |
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Drawdowns
SHYG vs. SCHG - Drawdown Comparison
The maximum SHYG drawdown since its inception was -19.26%, smaller than the maximum SCHG drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for SHYG and SCHG.
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Drawdown Indicators
| SHYG | SCHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -34.59% | +15.33% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -16.41% | +14.66% |
Max Drawdown (3Y)Largest decline over 3 years | -4.53% | -23.39% | +18.86% |
Max Drawdown (5Y)Largest decline over 5 years | -9.39% | -34.59% | +25.20% |
Max Drawdown (10Y)Largest decline over 10 years | -19.26% | -34.59% | +15.33% |
Current DrawdownCurrent decline from peak | 0.00% | -5.33% | +5.33% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -5.20% | +3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 4.96% | -4.56% |
Volatility
SHYG vs. SCHG - Volatility Comparison
The current volatility for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) is 0.98%, while Schwab U.S. Large-Cap Growth ETF (SCHG) has a volatility of 5.14%. This indicates that SHYG experiences smaller price fluctuations and is considered to be less risky than SCHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYG | SCHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 5.14% | -4.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 12.30% | -9.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.20% | 15.95% | -12.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.73% | 22.33% | -16.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.42% | 21.58% | -15.16% |
SHYG vs. SCHG - Expense Ratio Comparison
SHYG has a 0.30% expense ratio, which is higher than SCHG's 0.04% expense ratio.
Dividends
SHYG vs. SCHG - Dividend Comparison
SHYG's dividend yield for the trailing twelve months is around 7.00%, more than SCHG's 0.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHG Schwab U.S. Large-Cap Growth ETF | 0.38% | 0.36% | 0.39% | 0.46% | 0.55% | 0.42% | 0.52% | 0.82% | 1.27% | 1.01% | 1.04% | 1.22% |
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 SCHG have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHG has higher volatility (5.14%) compared to SHYG (0.98%). In terms of maximum drawdown, SHYG dropped -19.26% vs SCHG's -34.59%.
On 10-year performance, SCHG leads with 18.50% vs 5.22% for SHYG. On fees, SCHG is cheaper at 0.04% 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, SCHG has performed better with a 18.50% return vs 5.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHG is cheaper with a 0.04% expense ratio, compared with 0.30% for SHYG.
SHYG has the higher dividend yield at 7.00%, compared with 0.38% for SCHG.
SHYG is categorized as High Yield Bonds, while SCHG is Large Cap Growth Equities. SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index, while SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.30% for SHYG and 0.04% for SCHG.
SHYG currently has the higher Sharpe Ratio (2.02 vs 1.18), 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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