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TUHY.TO vs. XHY.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TUHY.TO vs. XHY.TO

Last updated Jul 16, 2026
Documentation

TUHY.TO (TD Active U.S. High Yield Bond ETF) and XHY.TO (iShares U.S. High Yield Bond Index ETF (CAD-Hedged)) are both High Yield Bonds funds. TUHY.TO is actively managed, while XHY.TO is passively managed. Over the past 5 years, TUHY.TO returned 2.44%/yr vs 2.81%/yr for XHY.TO. At a 0.23 correlation, their price movements are largely independent.

Performance

TUHY.TO vs. XHY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Active U.S. High Yield Bond ETF (TUHY.TO) and iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TUHY.TO achieves a 0.50% return, which is significantly lower than XHY.TO's 1.28% return.

TUHY.TO

1D
0.20%
1M
0.20%
6M
0.22%
YTD
0.50%
1Y
3.69%
3Y*
5.92%
5Y*
2.44%
10Y*
—

XHY.TO

1D
0.25%
1M
0.20%
6M
0.68%
YTD
1.28%
1Y
4.29%
3Y*
6.95%
5Y*
2.81%
10Y*
3.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TUHY.TO vs. XHY.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
TUHY.TO
TD Active U.S. High Yield Bond ETF		0.50%6.40%5.72%9.99%-10.86%4.57%-0.23%1.52%
XHY.TO
iShares U.S. High Yield Bond Index ETF (CAD-Hedged)		1.28%6.33%7.05%11.06%-11.10%3.51%2.65%2.05%

Correlation

The correlation between TUHY.TO and XHY.TO is 0.54, 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

0.54

Correlation (3Y)
Calculated over the trailing 3-year period

0.37

Correlation (5Y)
Calculated over the trailing 5-year period

0.29

Correlation (All Time)
Calculated using the full available price history since Nov 19, 2019

0.23

Over the past year, TUHY.TO and XHY.TO have become more correlated (0.54) than their long-term average of 0.23, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

TD Active U.S. High Yield Bond ETF

iShares U.S. High Yield Bond Index ETF (CAD-Hedged)

Often compared with XHY.TO:
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Return for Risk

TUHY.TO vs. XHY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TUHY.TO
TUHY.TO Risk / Return Rank: 2727
Overall Rank
TUHY.TO Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
TUHY.TO Sortino Ratio Rank: 2222
Sortino Ratio Rank
TUHY.TO Omega Ratio Rank: 2222
Omega Ratio Rank
TUHY.TO Calmar Ratio Rank: 2828
Calmar Ratio Rank
TUHY.TO Martin Ratio Rank: 3737
Martin Ratio Rank
XHY.TO
XHY.TO Risk / Return Rank: 3535
Overall Rank
XHY.TO Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
XHY.TO Sortino Ratio Rank: 3030
Sortino Ratio Rank
XHY.TO Omega Ratio Rank: 2929
Omega Ratio Rank
XHY.TO Calmar Ratio Rank: 3636
Calmar Ratio Rank
XHY.TO Martin Ratio Rank: 4848
Martin Ratio Rank
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.

TUHY.TO vs. XHY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Active U.S. High Yield Bond ETF (TUHY.TO) and iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY.TO). 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.

TUHY.TOXHY.TODifference
Sharpe ratioReturn per unit of total volatility
0.73
0.94

-0.21

Sortino ratioReturn per unit of downside risk
1.05
1.41

-0.35

Omega ratioGain probability vs. loss probability

1.13

1.17

-0.04

Calmar ratioReturn relative to maximum drawdown

1.20

1.50

-0.30

Martin ratioReturn relative to average drawdown

4.67

6.46

-1.78

TUHY.TO vs. XHY.TO - Sharpe Ratio Comparison

The current TUHY.TO Sharpe Ratio is 0.73, which is comparable to the XHY.TO Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of TUHY.TO and XHY.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

TUHY.TO vs. XHY.TO - Drawdown Comparison

The maximum TUHY.TO drawdown since its inception was -19.23%, smaller than the maximum XHY.TO drawdown of -28.48%. Use the drawdown chart below to compare losses from any high point for TUHY.TO and XHY.TO.

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Drawdown Indicators

TUHY.TOXHY.TODifference

Max Drawdown

Largest peak-to-trough decline

-19.23%

-28.48%

+9.25%

Max Drawdown (1Y)

Largest decline over 1 year

-3.09%

-2.87%

-0.22%

Max Drawdown (3Y)

Largest decline over 3 years

-4.87%

-4.94%

+0.07%

Max Drawdown (5Y)

Largest decline over 5 years

-14.79%

-16.67%

+1.88%

Max Drawdown (10Y)

Largest decline over 10 years

—

-28.48%

—

Current Drawdown

Current decline from peak

-0.34%

-0.24%

-0.10%

Average Drawdown

Average peak-to-trough decline

-3.87%

-2.53%

-1.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.79%

0.67%

+0.12%

Volatility

TUHY.TO vs. XHY.TO - Volatility Comparison

TD Active U.S. High Yield Bond ETF (TUHY.TO) has a higher volatility of 1.45% compared to iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY.TO) at 1.27%. This indicates that TUHY.TO's price experiences larger fluctuations and is considered to be riskier than XHY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TUHY.TOXHY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.45%

1.27%

+0.18%

Volatility (6M)

Calculated over the trailing 6-month period

4.15%

3.70%

+0.45%

Volatility (1Y)

Calculated over the trailing 1-year period

5.08%

4.63%

+0.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.71%

8.64%

+0.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.70%

10.58%

-0.88%

Dividends

TUHY.TO vs. XHY.TO - Dividend Comparison

TUHY.TO's dividend yield for the trailing twelve months is around 5.74%, less than XHY.TO's 6.12% yield.

PositionTTM20252024202320222021202020192018201720162015
TUHY.TO
TD Active U.S. High Yield Bond ETF		5.74%6.05%6.64%6.57%4.90%5.10%4.22%0.32%0.00%0.00%0.00%0.00%
XHY.TO
iShares U.S. High Yield Bond Index ETF (CAD-Hedged)		6.12%6.04%5.87%5.56%5.70%4.72%5.18%5.38%5.87%5.46%5.64%6.83%

Frequently Asked Questions

TUHY.TO and XHY.TO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: TD and iShares.

Portfolio Optimizer

Find the right allocation for TUHY.TO and XHY.TO

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