VGHY vs. NHYB

Last updated Aug 1, 2026

VGHY (Vanguard High-Yield Active ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds. VGHY is actively managed, while NHYB is passively managed. Their 0.77 correlation means they have sometimes moved together and sometimes differently. VGHY charges 0.22%/yr vs 0.08%/yr for NHYB.

Performance

VGHY vs. NHYB - Performance Comparison

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

Returns By Period

In the year-to-date period, VGHY achieves a 1.63% return, which is significantly lower than NHYB's 1.99% return.

VGHY

• 1D: 0.07%
• 1M: -0.34%
• 6M: 1.25%
• YTD: 1.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

NHYB

• 1D: 0.08%
• 1M: -0.33%
• 6M: 1.30%
• YTD: 1.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NHYB Nuveen High Yield Corporate Bond ETF	$2.61M	$1.50M	$2.19M
VGHY Vanguard High-Yield Active ETF	$2.96M	$3.03M	$3.77M

VGHY vs. NHYB - Yearly Performance Comparison

	2026 (YTD)	2025
VGHY Vanguard High-Yield Active ETF	1.63%	1.52%
NHYB Nuveen High Yield Corporate Bond ETF	1.99%	1.24%

Correlation

The correlation between VGHY and NHYB is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.77

Return for Risk

VGHY vs. NHYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Active ETF (VGHY) and Nuveen High Yield Corporate Bond ETF (NHYB). 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. NHYB - Drawdown Comparison

The maximum VGHY drawdown since its inception was -2.66%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for VGHY and NHYB.

Drawdown Indicators

	VGHY	NHYB	Difference
Max Drawdown Largest peak-to-trough decline	-2.66%	-2.40%	-0.26%
Current Drawdown Current decline from peak	-0.47%	-0.41%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.42%	-0.35%	-0.07%

Volatility

Volatility by Period

	VGHY	NHYB	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.05%	3.50%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.05%	3.50%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.05%	3.50%	+0.55%

VGHY vs. NHYB - Expense Ratio Comparison

VGHY has a 0.22% expense ratio, which is higher than NHYB's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VGHY vs. NHYB - Dividend Comparison

VGHY's dividend yield for the trailing twelve months is around 4.50%, less than NHYB's 4.83% yield.

Position	TTM	2025
NHYB Nuveen High Yield Corporate Bond ETF	4.83%	1.28%
VGHY Vanguard High-Yield Active ETF	4.50%	1.49%

Frequently Asked Questions

Can I hold both VGHY and NHYB in my portfolio?

VGHY and NHYB have a correlation of 0.77, 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 NHYB?

On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VGHY or NHYB?

NHYB is cheaper with a 0.08% expense ratio, compared with 0.22% for VGHY.

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

NHYB has the higher dividend yield at 4.83%, compared with 4.50% for VGHY.

What is the main difference between VGHY and NHYB?

They also come from different issuers: Vanguard and Nuveen. Their fees differ too: 0.22% for VGHY and 0.08% for NHYB.