SHYG vs. XHYE

Last updated Jun 5, 2026

SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and XHYE (BondBloxx US High Yield Energy Sector ETF) are both High Yield Bonds funds - SHYG tracks the Markit iBoxx USD Liquid High Yield 0-5 Index while XHYE tracks the ICE Diversified US Cash Pay High Yield Energy Index. Both are passively managed. Over the past 3 years, SHYG returned 8.16%/yr vs 8.50%/yr for XHYE. Their correlation of 0.85 suggests significant overlap in exposure. SHYG charges 0.30%/yr vs 0.35%/yr for XHYE.

Performance

SHYG vs. XHYE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and BondBloxx US High Yield Energy Sector ETF (XHYE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHYG achieves a 1.58% return, which is significantly lower than XHYE's 3.57% return.

SHYG

• 1D: 0.14%
• 1M: 0.32%
• YTD: 1.58%
• 6M: 2.09%
• 1Y: 6.52%
• 3Y*: 8.16%
• 5Y*: 4.86%
• 10Y*: 5.16%

XHYE

• 1D: 0.00%
• 1M: -0.19%
• YTD: 3.57%
• 6M: 3.82%
• 1Y: 8.97%
• 3Y*: 8.50%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SHYG vs. XHYE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	1.58%	7.94%	8.17%	10.38%	-2.37%
XHYE BondBloxx US High Yield Energy Sector ETF	3.57%	6.73%	7.46%	11.49%	-1.77%

Correlation

The correlation between SHYG and XHYE is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022	0.85

Over the past year, the correlation between SHYG and XHYE has dropped to 0.48 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

SHYG vs. XHYE - Sectors Allocation Comparison

Sectors	SHYG	XHYE
Utilities	99.3%	-
Real Estate	0.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	49.2%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	0.3%

Return for Risk

SHYG vs. XHYE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SHYG

SHYG Risk / Return Rank: 73
SHYG Sharpe Ratio Rank: 63
SHYG Sortino Ratio Rank: 71
SHYG Omega Ratio Rank: 71
SHYG Calmar Ratio Rank: 75
SHYG Martin Ratio Rank: 82

XHYE

XHYE Risk / Return Rank: 94
XHYE Sharpe Ratio Rank: 91
XHYE Sortino Ratio Rank: 95
XHYE Omega Ratio Rank: 94
XHYE Calmar Ratio Rank: 95
XHYE Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SHYG vs. XHYE - 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 BondBloxx US High Yield Energy Sector ETF (XHYE). 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	XHYE	Difference
Sharpe ratio: Return per unit of total volatility	2.07	3.18	-1.10
Sortino ratio: Return per unit of downside risk	3.18	5.13	-1.95
Omega ratio: Gain probability vs. loss probability	1.42	1.69	-0.27
Calmar ratio: Return relative to maximum drawdown	3.74	8.50	-4.76
Martin ratio: Return relative to average drawdown	16.31	26.98	-10.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHYG vs. XHYE - Sharpe Ratio Comparison

The current SHYG Sharpe Ratio is 2.07, which is lower than the XHYE Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of SHYG and XHYE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SHYG	XHYE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	3.18	-1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.84	-0.11

Drawdowns

SHYG vs. XHYE - Drawdown Comparison

The maximum SHYG drawdown since its inception was -19.26%, which is greater than XHYE's maximum drawdown of -8.87%. Use the drawdown chart below to compare losses from any high point for SHYG and XHYE.

Drawdown Indicators

	SHYG	XHYE	Difference
Max Drawdown Largest peak-to-trough decline	-19.26%	-8.87%	-10.39%
Max Drawdown (1Y) Largest decline over 1 year	-1.75%	-1.21%	-0.54%
Max Drawdown (3Y) Largest decline over 3 years	-4.53%	-6.40%	+1.87%
Max Drawdown (5Y) Largest decline over 5 years	-9.39%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.26%	—	—
Current Drawdown Current decline from peak	-0.10%	-0.36%	+0.26%
Average Drawdown Average peak-to-trough decline	-1.44%	-1.42%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.38%	+0.02%

Volatility

SHYG vs. XHYE - Volatility Comparison

iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) has a higher volatility of 0.93% compared to BondBloxx US High Yield Energy Sector ETF (XHYE) at 0.56%. This indicates that SHYG's price experiences larger fluctuations and is considered to be riskier than XHYE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHYG	XHYE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.93%	0.56%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	1.98%	+0.53%
Volatility (1Y) Calculated over the trailing 1-year period	3.16%	3.24%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.73%	7.60%	-1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.42%	7.60%	-1.18%

SHYG vs. XHYE - Expense Ratio Comparison

SHYG has a 0.30% expense ratio, which is lower than XHYE's 0.35% expense ratio.

Dividends

SHYG vs. XHYE - Dividend Comparison

SHYG's dividend yield for the trailing twelve months is around 7.01%, more than XHYE's 5.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	7.01%	7.03%	6.93%	6.54%	5.57%	4.83%	5.07%	5.33%	5.90%	5.49%	5.53%	5.17%
XHYE BondBloxx US High Yield Energy Sector ETF	5.79%	6.55%	7.04%	6.46%	5.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHYG and XHYE in my portfolio?

SHYG and XHYE have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHYG or XHYE?

SHYG has higher volatility (0.93%) compared to XHYE (0.56%). In terms of maximum drawdown, SHYG dropped -19.26% vs XHYE's -8.87%.

Which ETF is better, SHYG or XHYE?

On 3-year performance, XHYE leads with 8.50% vs 8.16% for SHYG. On fees, SHYG is cheaper at 0.30% per year. On volatility, XHYE has been the lower-risk option at 0.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHYG or XHYE?

Over the 3-year period, XHYE has performed better with a 8.50% return vs 8.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHYG or XHYE?

SHYG is cheaper with a 0.30% expense ratio, compared with 0.35% for XHYE.

Which ETF pays a higher dividend yield, SHYG or XHYE?

SHYG has the higher dividend yield at 7.01%, compared with 5.79% for XHYE.

What is the main difference between SHYG and XHYE?

SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index, while XHYE tracks ICE Diversified US Cash Pay High Yield Energy Index. They also come from different issuers: iShares and BondBloxx. Their fees differ too: 0.30% for SHYG and 0.35% for XHYE.

Which has better risk-adjusted returns?

XHYE currently has the higher Sharpe Ratio (3.18 vs 2.07), 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.