VGHY vs. SHYG

Last updated Jun 4, 2026

VGHY (Vanguard High-Yield Active ETF) and SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) are both High Yield Bonds funds. VGHY is actively managed, while SHYG is passively managed. Their correlation of 0.80 suggests significant overlap in exposure. VGHY charges 0.22%/yr vs 0.30%/yr for SHYG.

Performance

VGHY vs. SHYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard High-Yield Active ETF (VGHY) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VGHY having a 1.38% return and SHYG slightly higher at 1.44%.

VGHY

• 1D: -0.24%
• 1M: 0.28%
• YTD: 1.38%
• 6M: 2.00%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHYG

• 1D: -0.24%
• 1M: 0.35%
• YTD: 1.44%
• 6M: 1.95%
• 1Y: 6.50%
• 3Y*: 8.12%
• 5Y*: 4.83%
• 10Y*: 5.18%

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

VGHY vs. SHYG - Yearly Performance Comparison

	2026 (YTD)	2025
VGHY Vanguard High-Yield Active ETF	1.38%	1.80%
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	1.44%	1.44%

Correlation

The correlation between VGHY and SHYG is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025	0.80

Return for Risk

VGHY vs. SHYG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SHYG

SHYG Risk / Return Rank: 70
SHYG Sharpe Ratio Rank: 60
SHYG Sortino Ratio Rank: 68
SHYG Omega Ratio Rank: 67
SHYG Calmar Ratio Rank: 74
SHYG Martin Ratio Rank: 80

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. SHYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Active ETF (VGHY) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). 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.

Sharpe Ratios by Period

	VGHY	SHYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.07	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.85	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.81	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.73	+0.34

Drawdowns

VGHY vs. SHYG - Drawdown Comparison

The maximum VGHY drawdown since its inception was -2.66%, smaller than the maximum SHYG drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for VGHY and SHYG.

Drawdown Indicators

	VGHY	SHYG	Difference
Max Drawdown Largest peak-to-trough decline	-2.66%	-19.26%	+16.60%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.75%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.53%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.39%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.26%	—
Current Drawdown Current decline from peak	-0.30%	-0.24%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.45%	-1.44%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.40%	—

Volatility

Volatility by Period

	VGHY	SHYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.94%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.51%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.30%	3.16%	+1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.30%	5.73%	-1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.30%	6.42%	-2.12%

VGHY vs. SHYG - Expense Ratio Comparison

VGHY has a 0.22% expense ratio, which is lower than SHYG's 0.30% expense ratio.

Dividends

VGHY vs. SHYG - Dividend Comparison

VGHY's dividend yield for the trailing twelve months is around 3.98%, less than SHYG's 7.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	7.02%	7.03%	6.93%	6.54%	5.57%	4.83%	5.07%	5.33%	5.90%	5.49%	5.53%	5.17%
VGHY Vanguard High-Yield Active ETF	3.98%	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

Can I hold both VGHY and SHYG in my portfolio?

VGHY and SHYG have a correlation of 0.80, 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 SHYG?

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 SHYG?

VGHY is cheaper with a 0.22% expense ratio, compared with 0.30% for SHYG.

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

SHYG has the higher dividend yield at 7.02%, compared with 3.98% for VGHY.

What is the main difference between VGHY and SHYG?

They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.22% for VGHY and 0.30% for SHYG.