THY vs. HYG

Last updated Jun 3, 2026

THY (Agility Shares Dynamic Tactical Income ETF) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both High Yield Bonds funds. THY is actively managed, while HYG is passively managed. Over the past 5 years, THY returned 1.79%/yr vs 3.87%/yr for HYG. A 0.71 correlation means they provide meaningful diversification when combined. THY charges 1.36%/yr vs 0.49%/yr for HYG.

Performance

THY vs. HYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Agility Shares Dynamic Tactical Income ETF (THY) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THY achieves a 0.71% return, which is significantly lower than HYG's 1.60% return.

THY

• 1D: 0.01%
• 1M: -0.41%
• YTD: 0.71%
• 6M: 1.07%
• 1Y: 4.77%
• 3Y*: 5.30%
• 5Y*: 1.79%
• 10Y*: —

HYG

• 1D: 0.08%
• 1M: 0.31%
• YTD: 1.60%
• 6M: 2.09%
• 1Y: 7.00%
• 3Y*: 8.58%
• 5Y*: 3.87%
• 10Y*: 4.97%

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

THY vs. HYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
THY Agility Shares Dynamic Tactical Income ETF	0.71%	4.44%	5.38%	4.97%	-5.62%	-0.46%	4.04%
HYG iShares iBoxx $ High Yield Corporate Bond ETF	1.60%	8.59%	7.97%	11.54%	-10.98%	3.76%	9.42%

Correlation

The correlation between THY and HYG is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jun 26, 2020	0.71

The correlation between THY and HYG shifts across timeframes, from 0.68 (5 years) to 0.78 (3 years), reflecting how their relationship changes across market environments.

THY vs. HYG - Sectors Allocation Comparison

Sectors	THY	HYG
Financial Services	99.9%	-
Energy	0.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	0.4%
Technology	-	-
Utilities	-	99.6%

Return for Risk

THY vs. HYG — Risk / Return Rank

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

THY

THY Risk / Return Rank: 48
THY Sharpe Ratio Rank: 45
THY Sortino Ratio Rank: 49
THY Omega Ratio Rank: 46
THY Calmar Ratio Rank: 56
THY Martin Ratio Rank: 42

HYG

HYG Risk / Return Rank: 60
HYG Sharpe Ratio Rank: 53
HYG Sortino Ratio Rank: 59
HYG Omega Ratio Rank: 58
HYG Calmar Ratio Rank: 59
HYG Martin Ratio Rank: 70

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.

THY vs. HYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Agility Shares Dynamic Tactical Income ETF (THY) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.

	THY	HYG	Difference
Sharpe ratio Return per unit of total volatility	1.62	1.85	-0.23
Sortino ratio Return per unit of downside risk	2.42	2.80	-0.37
Omega ratio Gain probability vs. loss probability	1.30	1.36	-0.06
Calmar ratio Return relative to maximum drawdown	2.86	2.99	-0.13
Martin ratio Return relative to average drawdown	6.99	13.22	-6.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THY vs. HYG - Sharpe Ratio Comparison

The current THY Sharpe Ratio is 1.62, which is comparable to the HYG Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of THY and HYG, 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

	THY	HYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	1.85	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.52	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.46	+0.03

Drawdowns

THY vs. HYG - Drawdown Comparison

The maximum THY drawdown since its inception was -8.56%, smaller than the maximum HYG drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for THY and HYG.

Drawdown Indicators

	THY	HYG	Difference
Max Drawdown Largest peak-to-trough decline	-8.56%	-34.25%	+25.69%
Max Drawdown (1Y) Largest decline over 1 year	-1.60%	-2.34%	+0.74%
Max Drawdown (3Y) Largest decline over 3 years	-2.74%	-4.56%	+1.82%
Max Drawdown (5Y) Largest decline over 5 years	-8.56%	-15.79%	+7.23%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.03%	—
Current Drawdown Current decline from peak	-0.57%	-0.00%	-0.57%
Average Drawdown Average peak-to-trough decline	-2.61%	-3.24%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	0.53%	+0.13%

Volatility

THY vs. HYG - Volatility Comparison

The current volatility for Agility Shares Dynamic Tactical Income ETF (THY) is 0.93%, while iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has a volatility of 1.22%. This indicates that THY experiences smaller price fluctuations and is considered to be less risky than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THY	HYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.93%	1.22%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	1.88%	3.00%	-1.12%
Volatility (1Y) Calculated over the trailing 1-year period	2.96%	3.79%	-0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.54%	7.52%	-2.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.48%	8.29%	-3.81%

THY vs. HYG - Expense Ratio Comparison

THY has a 1.36% expense ratio, which is higher than HYG's 0.49% expense ratio.

Dividends

THY vs. HYG - Dividend Comparison

THY's dividend yield for the trailing twelve months is around 5.38%, less than HYG's 5.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYG iShares iBoxx $ High Yield Corporate Bond ETF	5.90%	5.71%	6.01%	5.74%	5.30%	4.02%	4.88%	4.99%	5.54%	5.12%	5.27%	5.90%
THY Agility Shares Dynamic Tactical Income ETF	5.38%	6.00%	5.09%	4.59%	2.56%	3.46%	2.53%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both THY and HYG in my portfolio?

THY and HYG have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THY or HYG?

HYG has higher volatility (1.22%) compared to THY (0.93%). In terms of maximum drawdown, THY dropped -8.56% vs HYG's -34.25%.

Which ETF is better, THY or HYG?

On 5-year performance, HYG leads with 3.87% vs 1.79% for THY. On fees, HYG is cheaper at 0.49% per year. On volatility, THY has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THY or HYG?

Over the 5-year period, HYG has performed better with a 3.87% return vs 1.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THY or HYG?

HYG is cheaper with a 0.49% expense ratio, compared with 1.36% for THY.

Which ETF pays a higher dividend yield, THY or HYG?

HYG has the higher dividend yield at 5.90%, compared with 5.38% for THY.

What is the main difference between THY and HYG?

They also come from different issuers: Toews Corp. and iShares. Their fees differ too: 1.36% for THY and 0.49% for HYG.

Which has better risk-adjusted returns?

HYG currently has the higher Sharpe Ratio (1.85 vs 1.62), 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.