USHY vs. NHYB
USHY (iShares Broad USD High Yield Corporate Bond ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds - USHY tracks the ICE BofA US High Yield Constrained Index while NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index. Both are passively managed. Their correlation of 0.89 means they have usually moved in the same direction. USHY charges 0.15%/yr vs 0.08%/yr for NHYB.
Performance
USHY vs. NHYB - Performance Comparison
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Returns By Period
In the year-to-date period, USHY achieves a 2.08% return, which is significantly lower than NHYB's 2.25% return.
USHY
- 1D
- 0.31%
- 1M
- 0.01%
- 6M
- 1.32%
- YTD
- 2.08%
- 1Y
- 5.64%
- 3Y*
- 8.63%
- 5Y*
- 4.16%
- 10Y*
- —
- ALL TIME*
- 4.75%
NHYB
- 1D
- 0.26%
- 1M
- -0.07%
- 6M
- 1.54%
- YTD
- 2.25%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.61M | $1.34M | $2.01M | |
| $552.78M | $427.44M | $406.45M |
USHY vs. NHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
USHY iShares Broad USD High Yield Corporate Bond ETF | 2.08% | 1.21% |
NHYB Nuveen High Yield Corporate Bond ETF | 2.25% | 1.24% |
Correlation
The correlation between USHY and NHYB is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025 | 0.89 |
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Return for Risk
USHY vs. NHYB — Risk / Return Rank
USHY
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
USHY vs. NHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD High Yield Corporate Bond ETF (USHY) and Nuveen High Yield Corporate Bond ETF (NHYB). 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.
| USHY | NHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.29 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | — | — |
| Martin ratioReturn relative to average drawdown | 10.25 | — | — |
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Drawdowns
USHY vs. NHYB - Drawdown Comparison
The maximum USHY drawdown since its inception was -22.44%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for USHY and NHYB.
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Drawdown Indicators
| USHY | NHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.44% | -2.40% | -20.04% |
Max Drawdown (1Y)Largest decline over 1 year | -2.43% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.66% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.56% | — | — |
Current DrawdownCurrent decline from peak | -0.18% | -0.15% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -2.62% | -0.35% | -2.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | — | — |
Volatility
USHY vs. NHYB - Volatility Comparison
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Volatility by Period
| USHY | NHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.69% | 3.50% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.35% | 3.50% | +3.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.18% | 3.50% | +4.68% |
USHY vs. NHYB - Expense Ratio Comparison
USHY has a 0.15% expense ratio, which is higher than NHYB's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
USHY vs. NHYB - Dividend Comparison
USHY's dividend yield for the trailing twelve months is around 6.95%, more than NHYB's 5.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
NHYB Nuveen High Yield Corporate Bond ETF | 5.45% | 1.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.95% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% |
Frequently Asked Questions
USHY and NHYB have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NHYB is cheaper with a 0.08% expense ratio, compared with 0.15% for USHY.
USHY has the higher dividend yield at 6.95%, compared with 5.45% for NHYB.
USHY tracks ICE BofA US High Yield Constrained Index, while NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index. They also come from different issuers: iShares and Nuveen. Their fees differ too: 0.15% for USHY and 0.08% for NHYB.
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