VBND vs. USHY
VBND (Vident U.S. Bond Strategy ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both exchange-traded funds - VBND is a Intermediate Core-Plus Bond fund tracking the Vident Core U.S. Bond Strategy Index, while USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained. Both are passively managed. Over the past 5 years, VBND returned 0.55%/yr vs 4.34%/yr for USHY. At a 0.33 correlation, their price movements are largely independent. VBND charges 0.41%/yr vs 0.15%/yr for USHY.
Performance
VBND vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, VBND achieves a 0.55% return, which is significantly lower than USHY's 1.70% return.
VBND
- 1D
- 0.11%
- 1M
- 0.49%
- YTD
- 0.55%
- 6M
- 1.02%
- 1Y
- 6.14%
- 3Y*
- 4.80%
- 5Y*
- 0.55%
- 10Y*
- 1.60%
USHY
- 1D
- 0.05%
- 1M
- 0.35%
- YTD
- 1.70%
- 6M
- 2.22%
- 1Y
- 7.48%
- 3Y*
- 9.01%
- 5Y*
- 4.34%
- 10Y*
- —
VBND vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBND Vident U.S. Bond Strategy ETF | 0.55% | 7.31% | 1.26% | 8.16% | -14.18% | -0.43% | 5.37% | 9.50% | -0.96% | 0.04% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.70% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 6.17% | 14.24% | -2.41% | 0.16% |
Correlation
The correlation between VBND and USHY is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.33 |
The correlation between VBND and USHY shifts across timeframes, from 0.33 (all time) to 0.57 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VBND vs. USHY — Risk / Return Rank
VBND
USHY
VBND vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vident U.S. Bond Strategy ETF (VBND) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.
| VBND | USHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.41 | 2.07 | -0.65 |
Sortino ratioReturn per unit of downside risk | 2.14 | 3.12 | -0.98 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.40 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 2.01 | 3.08 | -1.07 |
Martin ratioReturn relative to average drawdown | 5.43 | 13.87 | -8.44 |
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
| VBND | USHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.41 | 2.07 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.59 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.58 | -0.27 |
Drawdowns
VBND vs. USHY - Drawdown Comparison
The maximum VBND drawdown since its inception was -18.97%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for VBND and USHY.
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Drawdown Indicators
| VBND | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.97% | -22.44% | +3.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -2.43% | -0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -4.60% | -4.66% | +0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -18.97% | -15.56% | -3.41% |
Max Drawdown (10Y)Largest decline over 10 years | -18.97% | — | — |
Current DrawdownCurrent decline from peak | -0.71% | -0.00% | -0.71% |
Average DrawdownAverage peak-to-trough decline | -4.21% | -2.67% | -1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.54% | +0.51% |
Volatility
VBND vs. USHY - Volatility Comparison
Vident U.S. Bond Strategy ETF (VBND) has a higher volatility of 1.51% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.14%. This indicates that VBND's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBND | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 1.14% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 2.90% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 3.63% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.12% | 7.34% | -1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.45% | 8.25% | -2.80% |
VBND vs. USHY - Expense Ratio Comparison
VBND has a 0.41% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
VBND vs. USHY - Dividend Comparison
VBND's dividend yield for the trailing twelve months is around 4.22%, less than USHY's 6.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
VBND Vident U.S. Bond Strategy ETF | 4.22% | 4.22% | 4.41% | 3.88% | 2.55% | 1.56% | 1.98% | 3.14% | 2.82% | 2.00% | 3.12% | 1.49% |
Frequently Asked Questions
VBND and USHY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBND has higher volatility (1.51%) compared to USHY (1.14%). In terms of maximum drawdown, VBND dropped -18.97% vs USHY's -22.44%.
On 5-year performance, USHY leads with 4.34% vs 0.55% for VBND. On fees, USHY is cheaper at 0.15% per year. On volatility, USHY has been the lower-risk option at 1.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USHY has performed better with a 4.34% return vs 0.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USHY is cheaper with a 0.15% expense ratio, compared with 0.41% for VBND.
USHY has the higher dividend yield at 6.90%, compared with 4.22% for VBND.
VBND is categorized as Intermediate Core-Plus Bond, while USHY is High Yield Bonds. VBND tracks Vident Core U.S. Bond Strategy Index, while USHY tracks ICE BofA US High Yield Constrained. They also come from different issuers: Vident and iShares. Their fees differ too: 0.41% for VBND and 0.15% for USHY.
USHY currently has the higher Sharpe Ratio (2.07 vs 1.41), 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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