USIG vs. HYGH
USIG (iShares Broad USD Investment Grade Corporate Bond ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both exchange-traded funds - USIG is a Corporate Bonds fund tracking the ICE BofA US Corporate, while HYGH is a High Yield Bonds fund actively managed by iShares. USIG is passively managed, while HYGH is actively managed. Over the past 10 years, USIG returned 2.65%/yr vs 6.31%/yr for HYGH. At a 0.06 correlation, their price movements are largely independent. USIG charges 0.04%/yr vs 0.53%/yr for HYGH.
Performance
USIG vs. HYGH - Performance Comparison
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Returns By Period
In the year-to-date period, USIG achieves a 0.73% return, which is significantly lower than HYGH's 2.94% return. Over the past 10 years, USIG has underperformed HYGH with an annualized return of 2.65%, while HYGH has yielded a comparatively higher 6.31% annualized return.
USIG
- 1D
- 0.18%
- 1M
- 0.46%
- YTD
- 0.73%
- 6M
- 0.73%
- 1Y
- 5.58%
- 3Y*
- 5.58%
- 5Y*
- 0.75%
- 10Y*
- 2.65%
HYGH
- 1D
- 0.10%
- 1M
- 0.66%
- YTD
- 2.94%
- 6M
- 3.59%
- 1Y
- 7.78%
- 3Y*
- 9.83%
- 5Y*
- 6.97%
- 10Y*
- 6.31%
USIG vs. HYGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 0.73% | 7.86% | 2.56% | 8.71% | -15.30% | -1.34% | 9.44% | 13.99% | -2.21% | 5.75% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 2.94% | 6.94% | 11.22% | 12.17% | -0.92% | 5.82% | 0.54% | 11.09% | -0.85% | 6.38% |
Correlation
The correlation between USIG and HYGH is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since May 30, 2014 | 0.06 |
The correlation between USIG and HYGH shifts across timeframes, from 0.06 (all time) to 0.25 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
USIG vs. HYGH — Risk / Return Rank
USIG
HYGH
USIG vs. HYGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD Investment Grade Corporate Bond ETF (USIG) 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.
| USIG | HYGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.40 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 4.82 | -2.82 |
| Martin ratioReturn relative to average drawdown | 6.53 | 18.86 | -12.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USIG | HYGH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.37 | 2.14 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.99 | -0.88 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.76 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.56 | -0.02 |
Drawdowns
USIG vs. HYGH - Drawdown Comparison
The maximum USIG drawdown since its inception was -22.21%, smaller than the maximum HYGH drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for USIG and HYGH.
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Drawdown Indicators
| USIG | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.21% | -23.88% | +1.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -1.62% | -1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -8.06% | +1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -21.45% | -8.24% | -13.21% |
Max Drawdown (10Y)Largest decline over 10 years | -21.45% | -23.88% | +2.43% |
Current DrawdownCurrent decline from peak | -0.79% | -0.13% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -3.42% | -2.23% | -1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.41% | +0.45% |
Volatility
USIG vs. HYGH - Volatility Comparison
iShares Broad USD Investment Grade Corporate Bond ETF (USIG) has a higher volatility of 1.25% compared to iShares Interest Rate Hedged High Yield Bond ETF (HYGH) at 0.61%. This indicates that USIG'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
| USIG | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 0.61% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 3.04% | 2.84% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.13% | 3.65% | +0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.82% | 7.07% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.82% | 8.35% | -1.53% |
USIG vs. HYGH - Expense Ratio Comparison
USIG has a 0.04% expense ratio, which is lower than HYGH's 0.53% expense ratio.
Dividends
USIG vs. HYGH - Dividend Comparison
USIG's dividend yield for the trailing twelve months is around 4.73%, 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% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 4.73% | 4.62% | 4.51% | 3.94% | 3.14% | 2.33% | 2.82% | 3.37% | 3.44% | 3.03% | 2.87% | 3.24% |
Frequently Asked Questions
USIG and HYGH have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USIG has higher volatility (1.25%) compared to HYGH (0.61%). In terms of maximum drawdown, USIG dropped -22.21% vs HYGH's -23.88%.
On 10-year performance, HYGH leads with 6.31% vs 2.65% for USIG. On fees, USIG is cheaper at 0.04% per year. On volatility, HYGH has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HYGH has performed better with a 6.31% return vs 2.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USIG is cheaper with a 0.04% expense ratio, compared with 0.53% for HYGH.
HYGH has the higher dividend yield at 6.62%, compared with 4.73% for USIG.
USIG is categorized as Corporate Bonds, while HYGH is High Yield Bonds. Their fees differ too: 0.04% for USIG and 0.53% for HYGH.
HYGH currently has the higher Sharpe Ratio (2.14 vs 1.37), 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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