TIPB vs. HYHG

Last updated Jun 24, 2026

TIPB (Northern Trust 2035 Inflation-Linked Distributing Ladder ETF) and HYHG (ProShares High Yield-Interest Rate Hedged) are both exchange-traded funds - TIPB is a Inflation-Protected Bonds fund actively managed by Northern Trust, while HYHG is a High Yield Bonds fund tracking the Citi High Yield (Treasury Rate-Hedged) Index. TIPB is actively managed, while HYHG is passively managed. At a correlation of -0.04, they often move in opposite directions.

Performance

TIPB vs. HYHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust 2035 Inflation-Linked Distributing Ladder ETF (TIPB) and ProShares High Yield-Interest Rate Hedged (HYHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIPB achieves a 1.03% return, which is significantly lower than HYHG's 3.86% return.

TIPB

• 1D: -0.02%
• 1M: -0.41%
• YTD: 1.03%
• 6M: 1.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYHG

• 1D: 0.07%
• 1M: 0.71%
• YTD: 3.86%
• 6M: 4.29%
• 1Y: 8.04%
• 3Y*: 9.96%
• 5Y*: 7.04%
• 10Y*: 6.38%

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

TIPB vs. HYHG - Yearly Performance Comparison

	2026 (YTD)	2025
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	1.03%	0.79%
HYHG ProShares High Yield-Interest Rate Hedged	3.86%	2.44%

Correlation

The correlation between TIPB and HYHG is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025	-0.04

Return for Risk

TIPB vs. HYHG — Risk / Return Rank

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

TIPB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HYHG

HYHG Risk / Return Rank: 57
HYHG Sharpe Ratio Rank: 43
HYHG Sortino Ratio Rank: 43
HYHG Omega Ratio Rank: 42
HYHG Calmar Ratio Rank: 81
HYHG Martin Ratio Rank: 74

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.

TIPB vs. HYHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2035 Inflation-Linked Distributing Ladder ETF (TIPB) and ProShares High Yield-Interest Rate Hedged (HYHG). 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.

	TIPB	HYHG	Difference
Sharpe ratio: Return per unit of total volatility	—	1.45	—
Sortino ratio: Return per unit of downside risk	—	2.09	—
Omega ratio: Gain probability vs. loss probability	—	1.26	—
Calmar ratio: Return relative to maximum drawdown	—	4.00	—
Martin ratio: Return relative to average drawdown	—	13.36	—

Drawdowns

TIPB vs. HYHG - Drawdown Comparison

The maximum TIPB drawdown since its inception was -1.32%, smaller than the maximum HYHG drawdown of -25.71%. Use the drawdown chart below to compare losses from any high point for TIPB and HYHG.

Drawdown Indicators

	TIPB	HYHG	Difference
Max Drawdown Largest peak-to-trough decline	-1.32%	-25.71%	+24.39%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.47%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-25.71%	—
Current Drawdown Current decline from peak	-1.12%	0.00%	-1.12%
Average Drawdown Average peak-to-trough decline	-0.38%	-3.03%	+2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.60%	—

Volatility

Volatility by Period

	TIPB	HYHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.65%	5.57%	-2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.65%	8.17%	-5.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.65%	9.10%	-6.45%

Dividends

TIPB vs. HYHG - Dividend Comparison

TIPB's dividend yield for the trailing twelve months is around 3.04%, less than HYHG's 6.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYHG ProShares High Yield-Interest Rate Hedged	6.73%	6.97%	6.57%	6.07%	5.58%	4.54%	5.21%	6.06%	6.45%	5.57%	5.37%	6.37%
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	3.04%	1.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TIPB and HYHG in my portfolio?

TIPB and HYHG have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, TIPB or HYHG?

HYHG has the higher dividend yield at 6.73%, compared with 3.04% for TIPB.

What is the main difference between TIPB and HYHG?

TIPB is categorized as Inflation-Protected Bonds, while HYHG is High Yield Bonds. They also come from different issuers: Northern Trust and ProShares.