UCRD vs. HYGH
UCRD (VictoryShares ESG Corporate Bond ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both exchange-traded funds - UCRD is a Corporate Bonds fund actively managed by Victory, while HYGH is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Interest Hedged Index. UCRD is actively managed, while HYGH is passively managed. Over the past 3 years, UCRD returned 5.77%/yr vs 9.76%/yr for HYGH. At a 0.21 correlation, their price movements are largely independent. UCRD charges 0.40%/yr vs 0.52%/yr for HYGH.
Performance
UCRD vs. HYGH - Performance Comparison
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Returns By Period
In the year-to-date period, UCRD achieves a 1.26% return, which is significantly lower than HYGH's 3.03% return.
UCRD
- 1D
- 0.05%
- 1M
- 0.96%
- YTD
- 1.26%
- 6M
- 1.07%
- 1Y
- 5.38%
- 3Y*
- 5.77%
- 5Y*
- —
- 10Y*
- —
HYGH
- 1D
- -0.05%
- 1M
- 0.11%
- YTD
- 3.03%
- 6M
- 2.93%
- 1Y
- 7.18%
- 3Y*
- 9.76%
- 5Y*
- 6.80%
- 10Y*
- 6.63%
UCRD vs. HYGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
UCRD VictoryShares ESG Corporate Bond ETF | 1.26% | 7.90% | 2.68% | 9.27% | -17.13% | 0.32% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 3.03% | 6.94% | 11.22% | 12.17% | -0.92% | 1.68% |
Correlation
The correlation between UCRD and HYGH is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2021 | 0.21 |
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Return for Risk
UCRD vs. HYGH — Risk / Return Rank
UCRD
HYGH
UCRD vs. HYGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares ESG Corporate Bond ETF (UCRD) 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.
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.
| UCRD | HYGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.37 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 4.45 | -2.59 |
| Martin ratioReturn relative to average drawdown | 5.62 | 17.36 | -11.74 |
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Drawdowns
UCRD vs. HYGH - Drawdown Comparison
The maximum UCRD drawdown since its inception was -22.37%, smaller than the maximum HYGH drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for UCRD and HYGH.
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Drawdown Indicators
| UCRD | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.37% | -23.88% | +1.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.90% | -1.62% | -1.28% |
Max Drawdown (3Y)Largest decline over 3 years | -6.54% | -8.06% | +1.52% |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.88% | — |
Current DrawdownCurrent decline from peak | -0.39% | -0.37% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -8.31% | -2.22% | -6.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.41% | +0.55% |
Volatility
UCRD vs. HYGH - Volatility Comparison
VictoryShares ESG Corporate Bond ETF (UCRD) has a higher volatility of 1.15% compared to iShares Interest Rate Hedged High Yield Bond ETF (HYGH) at 0.66%. This indicates that UCRD's price experiences larger fluctuations and is considered to be riskier 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
| UCRD | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 0.66% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 3.34% | 2.79% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.29% | 3.65% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.52% | 7.08% | +0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.52% | 8.30% | -0.78% |
UCRD vs. HYGH - Expense Ratio Comparison
UCRD has a 0.40% expense ratio, which is lower than HYGH's 0.52% expense ratio.
Dividends
UCRD vs. HYGH - Dividend Comparison
UCRD's dividend yield for the trailing twelve months is around 4.19%, less than HYGH's 6.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.62% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
UCRD VictoryShares ESG Corporate Bond ETF | 4.19% | 4.05% | 4.00% | 3.56% | 2.72% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UCRD and HYGH have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCRD has higher volatility (1.15%) compared to HYGH (0.66%). In terms of maximum drawdown, UCRD dropped -22.37% vs HYGH's -23.88%.
On 3-year performance, HYGH leads with 9.76% vs 5.77% for UCRD. On fees, UCRD is cheaper at 0.40% per year. On volatility, HYGH has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYGH has performed better with a 9.76% return vs 5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UCRD is cheaper with a 0.40% expense ratio, compared with 0.52% for HYGH.
HYGH has the higher dividend yield at 6.62%, compared with 4.19% for UCRD.
UCRD is categorized as Corporate Bonds, while HYGH is High Yield Bonds. They also come from different issuers: Victory and iShares. Their fees differ too: 0.40% for UCRD and 0.52% for HYGH.
HYGH currently has the higher Sharpe Ratio (1.98 vs 1.26), 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.
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