VGHY vs. HYZD
VGHY (Vanguard High-Yield Active ETF) and HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) are both High Yield Bonds funds. VGHY is actively managed, while HYZD is passively managed. At a 0.42 correlation, their price movements are largely independent. VGHY charges 0.22%/yr vs 0.43%/yr for HYZD.
Performance
VGHY vs. HYZD - Performance Comparison
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Returns By Period
In the year-to-date period, VGHY achieves a 1.72% return, which is significantly lower than HYZD's 2.95% return.
VGHY
- 1D
- 0.24%
- 1M
- 0.77%
- YTD
- 1.72%
- 6M
- 2.20%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYZD
- 1D
- -0.18%
- 1M
- 0.40%
- YTD
- 2.95%
- 6M
- 3.10%
- 1Y
- 7.29%
- 3Y*
- 9.45%
- 5Y*
- 6.14%
- 10Y*
- 5.67%
VGHY vs. HYZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VGHY Vanguard High-Yield Active ETF | 1.72% | 1.77% |
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 2.95% | 1.81% |
Correlation
The correlation between VGHY and HYZD is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 17, 2025 | 0.42 |
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Return for Risk
VGHY vs. HYZD — Risk / Return Rank
VGHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYZD
VGHY vs. HYZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Active ETF (VGHY) and WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD). 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.
| VGHY | HYZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.49 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.83 | — |
| Martin ratioReturn relative to average drawdown | — | 16.42 | — |
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Drawdowns
VGHY vs. HYZD - Drawdown Comparison
The maximum VGHY drawdown since its inception was -2.66%, smaller than the maximum HYZD drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for VGHY and HYZD.
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Drawdown Indicators
| VGHY | HYZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.66% | -25.66% | +23.00% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.91% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.85% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.66% | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.18% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -0.44% | -2.19% | +1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.44% | — |
Volatility
VGHY vs. HYZD - Volatility Comparison
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Volatility by Period
| VGHY | HYZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.10% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.44% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.25% | 3.05% | +1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.25% | 6.71% | -2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.25% | 8.55% | -4.30% |
VGHY vs. HYZD - Expense Ratio Comparison
VGHY has a 0.22% expense ratio, which is lower than HYZD's 0.43% expense ratio.
Dividends
VGHY vs. HYZD - Dividend Comparison
VGHY's dividend yield for the trailing twelve months is around 3.97%, less than HYZD's 5.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.86% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
VGHY Vanguard High-Yield Active ETF | 3.97% | 1.49% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VGHY and HYZD have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGHY is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGHY is cheaper with a 0.22% expense ratio, compared with 0.43% for HYZD.
HYZD has the higher dividend yield at 5.86%, compared with 3.97% for VGHY.
They also come from different issuers: Vanguard and WisdomTree. Their fees differ too: 0.22% for VGHY and 0.43% for HYZD.
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