THYF vs. BBHY

Last updated Jun 4, 2026

THYF (T. Rowe Price U.S. High Yield ETF) and BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. THYF is actively managed, while BBHY is passively managed. Over the past 3 years, THYF returned 8.57%/yr vs 8.61%/yr for BBHY. Their correlation of 0.82 suggests significant overlap in exposure. THYF charges 0.56%/yr vs 0.15%/yr for BBHY.

Performance

THYF vs. BBHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price U.S. High Yield ETF (THYF) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THYF achieves a 1.50% return, which is significantly lower than BBHY's 1.58% return.

THYF

• 1D: -0.35%
• 1M: 0.61%
• YTD: 1.50%
• 6M: 1.90%
• 1Y: 7.02%
• 3Y*: 8.57%
• 5Y*: —
• 10Y*: —

BBHY

• 1D: -0.24%
• 1M: 0.42%
• YTD: 1.58%
• 6M: 1.96%
• 1Y: 7.15%
• 3Y*: 8.61%
• 5Y*: 4.09%
• 10Y*: —

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

THYF vs. BBHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
THYF T. Rowe Price U.S. High Yield ETF	1.50%	7.77%	8.51%	11.32%	1.53%
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	1.58%	8.51%	7.81%	11.98%	2.22%

Correlation

The correlation between THYF and BBHY is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (All Time) Calculated using the full available price history since Oct 27, 2022	0.82

The correlation between THYF and BBHY has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.

THYF vs. BBHY - Sectors Allocation Comparison

Sectors	THYF	BBHY
Financial Services	34.0%	4.1%
Basic Materials	18.3%	3.2%
Healthcare	9.8%	5.4%
Consumer Cyclical	8.1%	10.0%
Real Estate	6.8%	3.9%
Industrials	6.1%	8.4%
Energy	4.3%	5.2%
Consumer Defensive	3.9%	2.5%
Technology	3.7%	4.0%
Communication Services	3.7%	7.9%
Utilities	1.4%	2.0%

Return for Risk

THYF vs. BBHY — Risk / Return Rank

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

THYF

THYF Risk / Return Rank: 61
THYF Sharpe Ratio Rank: 59
THYF Sortino Ratio Rank: 66
THYF Omega Ratio Rank: 64
THYF Calmar Ratio Rank: 51
THYF Martin Ratio Rank: 63

BBHY

BBHY Risk / Return Rank: 63
BBHY Sharpe Ratio Rank: 58
BBHY Sortino Ratio Rank: 64
BBHY Omega Ratio Rank: 63
BBHY Calmar Ratio Rank: 60
BBHY Martin Ratio Rank: 72

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.

THYF vs. BBHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price U.S. High Yield ETF (THYF) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). 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.

	THYF	BBHY	Difference
Sharpe ratio: Return per unit of total volatility	2.01	1.98	+0.02
Sortino ratio: Return per unit of downside risk	3.08	3.01	+0.07
Omega ratio: Gain probability vs. loss probability	1.39	1.39	0.00
Calmar ratio: Return relative to maximum drawdown	2.51	3.02	-0.51
Martin ratio: Return relative to average drawdown	11.49	13.58	-2.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THYF vs. BBHY - Sharpe Ratio Comparison

The current THYF Sharpe Ratio is 2.01, which is comparable to the BBHY Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of THYF and BBHY, 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

	THYF	BBHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.01	1.98	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.47	0.64	+0.83

Drawdowns

THYF vs. BBHY - Drawdown Comparison

The maximum THYF drawdown since its inception was -5.24%, smaller than the maximum BBHY drawdown of -24.98%. Use the drawdown chart below to compare losses from any high point for THYF and BBHY.

Drawdown Indicators

	THYF	BBHY	Difference
Max Drawdown Largest peak-to-trough decline	-5.24%	-24.98%	+19.74%
Max Drawdown (1Y) Largest decline over 1 year	-2.80%	-2.37%	-0.43%
Max Drawdown (3Y) Largest decline over 3 years	-5.07%	-5.00%	-0.07%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.32%	—
Current Drawdown Current decline from peak	-0.35%	-0.30%	-0.05%
Average Drawdown Average peak-to-trough decline	-0.82%	-2.37%	+1.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	0.53%	+0.08%

Volatility

THYF vs. BBHY - Volatility Comparison

T. Rowe Price U.S. High Yield ETF (THYF) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) have volatilities of 1.12% and 1.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THYF	BBHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	1.12%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	2.72%	2.86%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	3.52%	3.62%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.82%	7.26%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.82%	7.53%	-1.71%

THYF vs. BBHY - Expense Ratio Comparison

THYF has a 0.56% expense ratio, which is higher than BBHY's 0.15% expense ratio.

Dividends

THYF vs. BBHY - Dividend Comparison

THYF's dividend yield for the trailing twelve months is around 7.02%, more than BBHY's 6.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	6.95%	7.24%	7.18%	6.49%	5.92%	4.06%	4.73%	4.99%	5.02%	4.81%	1.42%
THYF T. Rowe Price U.S. High Yield ETF	7.02%	7.17%	7.30%	8.02%	1.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both THYF and BBHY in my portfolio?

THYF and BBHY have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THYF or BBHY?

BBHY has higher volatility (1.12%) compared to THYF (1.12%). In terms of maximum drawdown, THYF dropped -5.24% vs BBHY's -24.98%.

Which ETF is better, THYF or BBHY?

On 3-year performance, BBHY leads with 8.61% vs 8.57% for THYF. On fees, BBHY is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THYF or BBHY?

Over the 3-year period, BBHY has performed better with a 8.61% return vs 8.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THYF or BBHY?

BBHY is cheaper with a 0.15% expense ratio, compared with 0.56% for THYF.

Which ETF pays a higher dividend yield, THYF or BBHY?

THYF has the higher dividend yield at 7.02%, compared with 6.95% for BBHY.

What is the main difference between THYF and BBHY?

They also come from different issuers: T. Rowe Price and JPMorgan. Their fees differ too: 0.56% for THYF and 0.15% for BBHY.

Which has better risk-adjusted returns?

THYF currently has the higher Sharpe Ratio (2.01 vs 1.98), 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.