VGHY vs. MHY

Last updated Jun 24, 2026

VGHY (Vanguard High-Yield Active ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. Both are actively managed. A 0.62 correlation means they provide meaningful diversification when combined. VGHY charges 0.22%/yr vs 0.69%/yr for MHY.

Performance

VGHY vs. MHY - Performance Comparison

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

Returns By Period

In the year-to-date period, VGHY achieves a 1.72% return, which is significantly lower than MHY's 4.09% return.

VGHY

• 1D: 0.24%
• 1M: 0.77%
• YTD: 1.72%
• 6M: 2.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MHY

• 1D: -0.04%
• 1M: 1.72%
• YTD: 4.09%
• 6M: 4.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VGHY vs. MHY - Yearly Performance Comparison

	2026 (YTD)	2025
VGHY Vanguard High-Yield Active ETF	1.72%	1.80%
MHY Man Active High Yield ETF	4.09%	1.54%

Correlation

The correlation between VGHY and MHY is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025	0.62

Return for Risk

VGHY vs. MHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Active ETF (VGHY) and Man Active High Yield ETF (MHY). 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.

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

Drawdowns

VGHY vs. MHY - Drawdown Comparison

The maximum VGHY drawdown since its inception was -2.66%, which is greater than MHY's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for VGHY and MHY.

Drawdown Indicators

	VGHY	MHY	Difference
Max Drawdown Largest peak-to-trough decline	-2.66%	-1.58%	-1.08%
Current Drawdown Current decline from peak	-0.08%	-0.04%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.44%	-0.29%	-0.15%

Volatility

Volatility by Period

	VGHY	MHY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.25%	2.99%	+1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.25%	2.99%	+1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.25%	2.99%	+1.26%

VGHY vs. MHY - Expense Ratio Comparison

VGHY has a 0.22% expense ratio, which is lower than MHY's 0.69% expense ratio.

Dividends

VGHY vs. MHY - Dividend Comparison

VGHY's dividend yield for the trailing twelve months is around 3.97%, more than MHY's 3.55% yield.

Position	TTM	2025
MHY Man Active High Yield ETF	3.55%	3.42%
VGHY Vanguard High-Yield Active ETF	3.97%	1.49%

Frequently Asked Questions

Can I hold both VGHY and MHY in my portfolio?

VGHY and MHY have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VGHY or MHY?

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.

Which ETF is cheaper, VGHY or MHY?

VGHY is cheaper with a 0.22% expense ratio, compared with 0.69% for MHY.

Which ETF pays a higher dividend yield, VGHY or MHY?

VGHY has the higher dividend yield at 3.97%, compared with 3.55% for MHY.

What is the main difference between VGHY and MHY?

They also come from different issuers: Vanguard and Man Group. Their fees differ too: 0.22% for VGHY and 0.69% for MHY.