TBLL vs. HYGH
Compare and contrast key facts about Invesco Short Term Treasury ETF (TBLL) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH).
TBLL and HYGH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TBLL is a passively managed fund by Invesco that tracks the performance of the ICE U.S. Treasury Short Bond Index. It was launched on Jan 10, 2017. HYGH is an actively managed fund by iShares. It was launched on May 27, 2014.
Performance
TBLL vs. HYGH - Performance Comparison
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TBLL vs. HYGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TBLL Invesco Short Term Treasury ETF | 0.83% | 4.21% | 5.11% | 5.01% | 1.11% | -0.01% | 0.93% | 2.20% | 1.85% | 0.62% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 0.64% | 6.94% | 11.22% | 12.17% | -0.92% | 5.82% | 0.54% | 11.09% | -0.85% | 5.88% |
Returns By Period
In the year-to-date period, TBLL achieves a 0.83% return, which is significantly higher than HYGH's 0.64% return.
TBLL
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 0.83%
- 6M
- 1.81%
- 1Y
- 4.01%
- 3Y*
- 4.66%
- 5Y*
- 3.23%
- 10Y*
- —
HYGH
- 1D
- 0.28%
- 1M
- 0.25%
- YTD
- 0.64%
- 6M
- 2.16%
- 1Y
- 7.68%
- 3Y*
- 9.43%
- 5Y*
- 6.55%
- 10Y*
- 6.47%
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TBLL vs. HYGH - Expense Ratio Comparison
TBLL has a 0.08% expense ratio, which is lower than HYGH's 0.53% expense ratio.
Return for Risk
TBLL vs. HYGH — Risk / Return Rank
TBLL
HYGH
TBLL vs. HYGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Short Term Treasury ETF (TBLL) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH). 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.
| TBLL | HYGH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 20.10 | 1.08 | +19.01 |
Sortino ratioReturn per unit of downside risk | 122.76 | 1.39 | +121.38 |
Omega ratioGain probability vs. loss probability | 52.94 | 1.28 | +51.66 |
Calmar ratioReturn relative to maximum drawdown | 106.06 | 1.18 | +104.88 |
Martin ratioReturn relative to average drawdown | 1,284.28 | 8.73 | +1,275.55 |
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
| TBLL | HYGH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 20.10 | 1.08 | +19.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 7.23 | 0.93 | +6.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.77 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.18 | 0.54 | +3.65 |
Correlation
The correlation between TBLL and HYGH is -0.06. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
TBLL vs. HYGH - Dividend Comparison
TBLL's dividend yield for the trailing twelve months is around 3.91%, less than HYGH's 6.77% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TBLL Invesco Short Term Treasury ETF | 3.91% | 4.08% | 4.99% | 4.63% | 1.37% | 0.03% | 0.80% | 2.08% | 1.69% | 0.71% | 0.00% | 0.00% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.77% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
Drawdowns
TBLL vs. HYGH - Drawdown Comparison
The maximum TBLL drawdown since its inception was -0.63%, smaller than the maximum HYGH drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for TBLL and HYGH.
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Drawdown Indicators
| TBLL | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.63% | -23.88% | +23.25% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -6.61% | +6.57% |
Max Drawdown (5Y)Largest decline over 5 years | -0.36% | -8.24% | +7.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.88% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.38% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -0.14% | -2.26% | +2.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.90% | -0.90% |
Volatility
TBLL vs. HYGH - Volatility Comparison
The current volatility for Invesco Short Term Treasury ETF (TBLL) is 0.05%, while iShares Interest Rate Hedged High Yield Bond ETF (HYGH) has a volatility of 1.85%. This indicates that TBLL experiences smaller price fluctuations and is considered to be less risky than HYGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBLL | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 1.85% | -1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 0.12% | 2.97% | -2.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 7.11% | -6.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.45% | 7.06% | -6.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.56% | 8.39% | -7.83% |