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VGHY vs. HYHG
Performance
Return for Risk
Dividends
Drawdowns
Volatility

VGHY vs. HYHG

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard High-Yield Active ETF (VGHY) and ProShares High Yield-Interest Rate Hedged (HYHG).

VGHY and HYHG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VGHY is an actively managed fund by Vanguard. It was launched on Sep 16, 2025. HYHG is a passively managed fund by ProShares that tracks the performance of the Citi High Yield (Treasury Rate-Hedged) Index. It was launched on May 21, 2013.

Performance

VGHY vs. HYHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard High-Yield Active ETF (VGHY) and ProShares High Yield-Interest Rate Hedged (HYHG). The values are adjusted to include any dividend payments, if applicable.

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VGHY vs. HYHG - Yearly Performance Comparison

2026 (YTD)2025
VGHY
Vanguard High-Yield Active ETF		-0.05%1.80%
HYHG
ProShares High Yield-Interest Rate Hedged		0.76%1.46%

Returns By Period

In the year-to-date period, VGHY achieves a -0.05% return, which is significantly lower than HYHG's 0.76% return.

VGHY

1D
0.32%
1M
-0.78%
YTD
-0.05%
6M
1.49%
1Y
—
3Y*
—
5Y*
—
10Y*
—

HYHG

1D
0.75%
1M
0.37%
YTD
0.76%
6M
2.21%
1Y
7.49%
3Y*
9.53%
5Y*
6.54%
10Y*
6.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard High-Yield Active ETF

ProShares High Yield-Interest Rate Hedged

Often compared with VGHY:
VGHY vs. BNDVGHY vs. SCHDVGHY vs. SPHYVGHY vs. SCYBVGHY vs. VOOVGHY vs. SHYGVGHY vs. BSV
Often compared with HYHG:
HYHG vs. HYGHHYHG vs. HYGHYHG vs. IGHGHYHG vs. EIFAXHYHG vs. AOHYHYHG vs. PDIHYHG vs. FXAIX

VGHY vs. HYHG - Expense Ratio Comparison

VGHY has a 0.22% expense ratio, which is lower than HYHG's 0.50% expense ratio.

HYHG
ProShares High Yield-Interest Rate Hedged
VGHY
Vanguard High-Yield Active ETF

Return for Risk

VGHY vs. HYHG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VGHY
HYHG
HYHG Risk / Return Rank: 5757
Overall Rank
HYHG Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
HYHG Sortino Ratio Rank: 5050
Sortino Ratio Rank
HYHG Omega Ratio Rank: 4949
Omega Ratio Rank
HYHG Calmar Ratio Rank: 6464
Calmar Ratio Rank
HYHG Martin Ratio Rank: 7575
Martin Ratio Rank
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.

VGHY vs. HYHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Active ETF (VGHY) and ProShares High Yield-Interest Rate Hedged (HYHG). 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.

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

VGHY vs. HYHG - Sharpe Ratio Comparison

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Sharpe Ratios by Period

VGHYHYHGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

0.93

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.81

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.68

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.74

0.45

+0.29

Correlation

The correlation between VGHY and HYHG is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VGHY vs. HYHG - Dividend Comparison

VGHY's dividend yield for the trailing twelve months is around 3.00%, less than HYHG's 6.92% yield.

TTM20252024202320222021202020192018201720162015
VGHY
Vanguard High-Yield Active ETF		3.00%1.49%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
HYHG
ProShares High Yield-Interest Rate Hedged		6.92%6.97%6.57%6.07%5.58%4.54%5.21%6.06%6.45%5.57%5.37%6.37%

Drawdowns

VGHY vs. HYHG - Drawdown Comparison

The maximum VGHY drawdown since its inception was -2.66%, smaller than the maximum HYHG drawdown of -25.71%. Use the drawdown chart below to compare losses from any high point for VGHY and HYHG.

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Drawdown Indicators

VGHYHYHGDifference

Max Drawdown

Largest peak-to-trough decline

-2.66%

-25.71%

+23.05%

Max Drawdown (1Y)

Largest decline over 1 year

—

-4.25%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-9.21%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-25.71%

—

Current Drawdown

Current decline from peak

-1.20%

-0.57%

-0.63%

Average Drawdown

Average peak-to-trough decline

-0.45%

-3.08%

+2.63%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

0.89%

—

Volatility

VGHY vs. HYHG - Volatility Comparison

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Volatility by Period

VGHYHYHGDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

2.37%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

4.49%

—

Volatility (1Y)

Calculated over the trailing 1-year period

4.46%

8.09%

-3.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.46%

8.12%

-3.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.46%

9.20%

-4.74%