USHY vs. SCYB

Last updated Jun 5, 2026

USHY (iShares Broad USD High Yield Corporate Bond ETF) and SCYB (Schwab High Yield Bond ETF) are both High Yield Bonds funds - USHY tracks the ICE BofA US High Yield Constrained while SCYB tracks the ICE BofA US Cash Pay High Yield Constrained Index. Both are passively managed. Over the past year, USHY returned 6.99% vs 7.03% for SCYB. Their correlation of 0.95 suggests significant overlap in exposure. USHY charges 0.15%/yr vs 0.03%/yr for SCYB.

Performance

USHY vs. SCYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Broad USD High Yield Corporate Bond ETF (USHY) and Schwab High Yield Bond ETF (SCYB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USHY achieves a 1.64% return, which is significantly lower than SCYB's 1.76% return.

USHY

• 1D: 0.22%
• 1M: 0.46%
• YTD: 1.64%
• 6M: 1.98%
• 1Y: 6.99%
• 3Y*: 9.01%
• 5Y*: 4.29%
• 10Y*: —

SCYB

• 1D: 0.21%
• 1M: 0.46%
• YTD: 1.76%
• 6M: 1.99%
• 1Y: 7.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USHY vs. SCYB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USHY iShares Broad USD High Yield Corporate Bond ETF	1.64%	8.81%	8.45%	7.13%
SCYB Schwab High Yield Bond ETF	1.76%	8.33%	8.15%	6.74%

Correlation

The correlation between USHY and SCYB is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Jul 12, 2023	0.95

The correlation between USHY and SCYB has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

USHY vs. SCYB - Sectors Allocation Comparison

Sectors	USHY	SCYB
Energy	99.2%	5.8%
Real Estate	0.8%	4.2%
Basic Materials	-	3.5%
Communication Services	-	8.9%
Consumer Cyclical	-	10.6%
Consumer Defensive	-	2.5%
Financial Services	-	4.9%
Healthcare	-	5.8%
Industrials	-	8.7%
Technology	-	4.5%
Utilities	-	2.0%

Return for Risk

USHY vs. SCYB — Risk / Return Rank

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

USHY

USHY Risk / Return Rank: 63
USHY Sharpe Ratio Rank: 58
USHY Sortino Ratio Rank: 64
USHY Omega Ratio Rank: 63
USHY Calmar Ratio Rank: 59
USHY Martin Ratio Rank: 71

SCYB

SCYB Risk / Return Rank: 62
SCYB Sharpe Ratio Rank: 57
SCYB Sortino Ratio Rank: 62
SCYB Omega Ratio Rank: 62
SCYB Calmar Ratio Rank: 59
SCYB Martin Ratio Rank: 71

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.

USHY vs. SCYB - 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 Schwab High Yield Bond ETF (SCYB). 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.

	USHY	SCYB	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.89	+0.04
Sortino ratio: Return per unit of downside risk	2.90	2.83	+0.07
Omega ratio: Gain probability vs. loss probability	1.37	1.37	0.00
Calmar ratio: Return relative to maximum drawdown	2.89	2.89	0.00
Martin ratio: Return relative to average drawdown	12.99	12.95	+0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USHY vs. SCYB - Sharpe Ratio Comparison

The current USHY Sharpe Ratio is 1.93, which is comparable to the SCYB Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of USHY and SCYB, 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

	USHY	SCYB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	1.89	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	1.70	-1.12

Drawdowns

USHY vs. SCYB - Drawdown Comparison

The maximum USHY drawdown since its inception was -22.44%, which is greater than SCYB's maximum drawdown of -4.92%. Use the drawdown chart below to compare losses from any high point for USHY and SCYB.

Drawdown Indicators

	USHY	SCYB	Difference
Max Drawdown Largest peak-to-trough decline	-22.44%	-4.92%	-17.52%
Max Drawdown (1Y) Largest decline over 1 year	-2.43%	-2.44%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-4.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.56%	—	—
Current Drawdown Current decline from peak	-0.06%	-0.12%	+0.06%
Average Drawdown Average peak-to-trough decline	-2.66%	-0.52%	-2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.54%	0.00%

Volatility

USHY vs. SCYB - Volatility Comparison

iShares Broad USD High Yield Corporate Bond ETF (USHY) and Schwab High Yield Bond ETF (SCYB) have volatilities of 1.14% and 1.09%, 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

	USHY	SCYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	1.09%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	2.92%	2.94%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	3.65%	3.75%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.34%	5.13%	+2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.25%	5.13%	+3.12%

USHY vs. SCYB - Expense Ratio Comparison

USHY has a 0.15% expense ratio, which is higher than SCYB's 0.03% 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. SCYB - Dividend Comparison

USHY's dividend yield for the trailing twelve months is around 6.91%, which matches SCYB's 6.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCYB Schwab High Yield Bond ETF	6.92%	6.99%	7.06%	3.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USHY iShares Broad USD High Yield Corporate Bond ETF	6.91%	6.79%	6.89%	6.63%	6.08%	5.07%	5.30%	5.92%	6.30%	0.73%

Frequently Asked Questions

Can I hold both USHY and SCYB in my portfolio?

With a correlation of 0.94, USHY and SCYB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, USHY or SCYB?

USHY has higher volatility (1.14%) compared to SCYB (1.09%). In terms of maximum drawdown, USHY dropped -22.44% vs SCYB's -4.92%.

Which ETF is better, USHY or SCYB?

On 1-year performance, SCYB leads with 7.03% vs 6.99% for USHY. On fees, SCYB is cheaper at 0.03% 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, USHY or SCYB?

Over the 1-year period, SCYB has performed better with a 7.03% return vs 6.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USHY or SCYB?

SCYB is cheaper with a 0.03% expense ratio, compared with 0.15% for USHY.

Which ETF pays a higher dividend yield, USHY or SCYB?

SCYB has the higher dividend yield at 6.92%, compared with 6.91% for USHY.

What is the main difference between USHY and SCYB?

USHY tracks ICE BofA US High Yield Constrained, while SCYB tracks ICE BofA US Cash Pay High Yield Constrained Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.15% for USHY and 0.03% for SCYB.

Which has better risk-adjusted returns?

USHY currently has the higher Sharpe Ratio (1.93 vs 1.89), 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.