SHYG vs. SCHX
SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and SCHX (Schwab U.S. Large-Cap 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 SCHX is a Large Cap Blend Equities fund tracking the Dow Jones U.S. Large-Cap Total Stock Market Index. Both are passively managed. Over the past 10 years, SHYG returned 5.22%/yr vs 15.35%/yr for SCHX. A 0.69 correlation means they provide meaningful diversification when combined. SHYG charges 0.30%/yr vs 0.03%/yr for SCHX.
Performance
SHYG vs. SCHX - 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 SCHX's 8.86% return. Over the past 10 years, SHYG has underperformed SCHX with an annualized return of 5.22%, while SCHX has yielded a comparatively higher 15.35% 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%
SCHX
- 1D
- 0.48%
- 1M
- 0.59%
- YTD
- 8.86%
- 6M
- 9.10%
- 1Y
- 25.11%
- 3Y*
- 20.84%
- 5Y*
- 12.76%
- 10Y*
- 15.35%
SHYG vs. SCHX - 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% |
SCHX Schwab U.S. Large-Cap ETF | 8.86% | 17.46% | 24.88% | 26.84% | -19.41% | 26.81% | 20.81% | 31.22% | -4.66% | 21.95% |
Correlation
The correlation between SHYG and SCHX is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.69 |
The correlation between SHYG and SCHX has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.
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Return for Risk
SHYG vs. SCHX — Risk / Return Rank
SHYG
SCHX
SHYG vs. SCHX - 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 ETF (SCHX). 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 | SCHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.34 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 2.63 | +1.07 |
| Martin ratioReturn relative to average drawdown | 16.02 | 11.65 | +4.38 |
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Drawdowns
SHYG vs. SCHX - Drawdown Comparison
The maximum SHYG drawdown since its inception was -19.26%, smaller than the maximum SCHX drawdown of -34.33%. Use the drawdown chart below to compare losses from any high point for SHYG and SCHX.
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Drawdown Indicators
| SHYG | SCHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -34.33% | +15.07% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -9.02% | +7.27% |
Max Drawdown (3Y)Largest decline over 3 years | -4.53% | -19.04% | +14.51% |
Max Drawdown (5Y)Largest decline over 5 years | -9.39% | -25.41% | +16.02% |
Max Drawdown (10Y)Largest decline over 10 years | -19.26% | -34.33% | +15.07% |
Current DrawdownCurrent decline from peak | 0.00% | -2.37% | +2.37% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -3.96% | +2.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 2.04% | -1.64% |
Volatility
SHYG vs. SCHX - 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 ETF (SCHX) has a volatility of 4.47%. This indicates that SHYG experiences smaller price fluctuations and is considered to be less risky than SCHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYG | SCHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 4.47% | -3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 9.71% | -7.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.20% | 12.47% | -9.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.73% | 17.19% | -11.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.42% | 18.17% | -11.75% |
SHYG vs. SCHX - Expense Ratio Comparison
SHYG has a 0.30% expense ratio, which is higher than SCHX's 0.03% expense ratio.
Dividends
SHYG vs. SCHX - Dividend Comparison
SHYG's dividend yield for the trailing twelve months is around 7.00%, more than SCHX's 1.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHX Schwab U.S. Large-Cap ETF | 1.02% | 1.09% | 1.22% | 1.39% | 1.64% | 1.22% | 1.64% | 1.82% | 2.02% | 1.70% | 1.92% | 2.04% |
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 SCHX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHX has higher volatility (4.47%) compared to SHYG (0.98%). In terms of maximum drawdown, SHYG dropped -19.26% vs SCHX's -34.33%.
On 10-year performance, SCHX leads with 15.35% vs 5.22% for SHYG. On fees, SCHX is cheaper at 0.03% 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, SCHX has performed better with a 15.35% return vs 5.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHX is cheaper with a 0.03% expense ratio, compared with 0.30% for SHYG.
SHYG has the higher dividend yield at 7.00%, compared with 1.02% for SCHX.
SHYG is categorized as High Yield Bonds, while SCHX is Large Cap Blend Equities. SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index, while SCHX tracks Dow Jones U.S. Large-Cap Total Stock Market Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.30% for SHYG and 0.03% for SCHX.
SHYG currently has the higher Sharpe Ratio (2.02 vs 1.91), 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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