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USHY vs. SWVXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USHY vs. SWVXX

Last updated Jun 14, 2026

USHY (iShares Broad USD High Yield Corporate Bond ETF) and SWVXX (Schwab Prime Advantage Money Fund Investor Shares) are both funds - USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index, while SWVXX is a Money Market fund actively managed by Charles Schwab. USHY is passively managed, while SWVXX is actively managed. Over the past 5 years, USHY returned 4.21%/yr vs 3.14%/yr for SWVXX. At a correlation of -0.02, they often move in opposite directions. USHY charges 0.15%/yr vs 0.34%/yr for SWVXX.

Performance

USHY vs. SWVXX - 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 Prime Advantage Money Fund Investor Shares (SWVXX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, USHY achieves a 1.75% return, which is significantly higher than SWVXX's 1.45% return.

USHY

1D
0.03%
1M
0.68%
YTD
1.75%
6M
2.37%
1Y
7.19%
3Y*
8.94%
5Y*
4.21%
10Y*
—

SWVXX

1D
0.00%
1M
0.29%
YTD
1.45%
6M
1.77%
1Y
3.85%
3Y*
4.71%
5Y*
3.14%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

USHY vs. SWVXX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
USHY
iShares Broad USD High Yield Corporate Bond ETF		1.75%8.81%8.45%12.73%-11.18%3.22%
SWVXX
Schwab Prime Advantage Money Fund Investor Shares		1.45%4.15%5.16%5.04%0.00%0.00%

Correlation

The correlation between USHY and SWVXX is 0.05, 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 (1Y)
Calculated over the trailing 1-year period

0.05

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

-0.00

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

-0.02

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

-0.02

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iShares Broad USD High Yield Corporate Bond ETF

Schwab Prime Advantage Money Fund Investor Shares

Often compared with USHY:
USHY vs. HYGUSHY vs. SPHYUSHY vs. HYSUSHY vs. JNKUSHY vs. BKLNUSHY vs. HYLBUSHY vs. SPY
Often compared with SWVXX:
SWVXX vs. SGOVSWVXX vs. VMFXXSWVXX vs. SNSXXSWVXX vs. SPAXXSWVXX vs. SHVSWVXX vs. BILSWVXX vs. SWAGX

Return for Risk

USHY vs. SWVXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USHY
USHY Risk / Return Rank: 7171
Overall Rank
USHY Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
USHY Sortino Ratio Rank: 7373
Sortino Ratio Rank
USHY Omega Ratio Rank: 7171
Omega Ratio Rank
USHY Calmar Ratio Rank: 6565
Calmar Ratio Rank
USHY Martin Ratio Rank: 7777
Martin Ratio Rank
SWVXX

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

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. SWVXX - 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 Prime Advantage Money Fund Investor Shares (SWVXX). 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.

USHYSWVXXDifference
Sharpe ratioReturn per unit of total volatility
1.88
3.71

-1.83

Sortino ratioReturn per unit of downside risk
2.83

—

—

Omega ratioGain probability vs. loss probability

1.36

—

—

Calmar ratioReturn relative to maximum drawdown

2.85

—

—

Martin ratioReturn relative to average drawdown

12.77

—

—

USHY vs. SWVXX - Sharpe Ratio Comparison

The current USHY Sharpe Ratio is 1.88, which is lower than the SWVXX Sharpe Ratio of 3.71. The chart below compares the historical Sharpe Ratios of USHY and SWVXX, 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

USHY vs. SWVXX - Drawdown Comparison

The maximum USHY drawdown since its inception was -22.44%, which is greater than SWVXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for USHY and SWVXX.

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Drawdown Indicators

USHYSWVXXDifference

Max Drawdown

Largest peak-to-trough decline

-22.44%

0.00%

-22.44%

Max Drawdown (1Y)

Largest decline over 1 year

-2.43%

0.00%

-2.43%

Max Drawdown (3Y)

Largest decline over 3 years

-4.66%

0.00%

-4.66%

Max Drawdown (5Y)

Largest decline over 5 years

-15.56%

0.00%

-15.56%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-2.66%

0.00%

-2.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.54%

0.00%

+0.54%

Volatility

USHY vs. SWVXX - Volatility Comparison

iShares Broad USD High Yield Corporate Bond ETF (USHY) has a higher volatility of 1.20% compared to Schwab Prime Advantage Money Fund Investor Shares (SWVXX) at 0.29%. This indicates that USHY's price experiences larger fluctuations and is considered to be riskier than SWVXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USHYSWVXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.20%

0.29%

+0.91%

Volatility (6M)

Calculated over the trailing 6-month period

2.96%

0.76%

+2.20%

Volatility (1Y)

Calculated over the trailing 1-year period

3.69%

1.10%

+2.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.35%

1.09%

+6.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.24%

1.09%

+7.15%

USHY vs. SWVXX - Expense Ratio Comparison

USHY has a 0.15% expense ratio, which is lower than SWVXX's 0.34% expense ratio.

Dividends

USHY vs. SWVXX - Dividend Comparison

USHY's dividend yield for the trailing twelve months is around 6.90%, more than SWVXX's 3.77% yield.

PositionTTM202520242023202220212020201920182017
SWVXX
Schwab Prime Advantage Money Fund Investor Shares		3.77%4.06%5.02%4.91%0.00%0.00%0.00%0.00%0.00%0.00%
USHY
iShares Broad USD High Yield Corporate Bond ETF		6.90%6.79%6.89%6.63%6.08%5.07%5.30%5.92%6.30%0.73%

Frequently Asked Questions

USHY and SWVXX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USHY has higher volatility (1.20%) compared to SWVXX (0.29%). In terms of maximum drawdown, USHY dropped -22.44% vs SWVXX's 0.00%.

SWVXX currently has the higher Sharpe Ratio (3.71 vs 1.88), 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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