VPL vs. HYG
VPL (Vanguard FTSE Pacific ETF) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both exchange-traded funds - VPL is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific Index, while HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index. Both are passively managed. Over the past 10 years, VPL returned 9.50%/yr vs 4.64%/yr for HYG. Their 0.59 correlation means they have sometimes moved together and sometimes differently. VPL charges 0.08%/yr vs 0.49%/yr for HYG.
Performance
VPL vs. HYG - Performance Comparison
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Returns By Period
In the year-to-date period, VPL achieves a 21.47% return, which is significantly higher than HYG's 1.81% return. Over the past 10 years, VPL has outperformed HYG with an annualized return of 9.50%, while HYG has yielded a comparatively lower 4.64% annualized return.
VPL
- 1D
- 0.72%
- 1M
- -1.92%
- 6M
- 11.30%
- YTD
- 21.47%
- 1Y
- 38.65%
- 3Y*
- 19.87%
- 5Y*
- 9.27%
- 10Y*
- 9.50%
- ALL TIME*
- 6.52%
HYG
- 1D
- 0.27%
- 1M
- -0.02%
- 6M
- 1.13%
- YTD
- 1.81%
- 1Y
- 5.12%
- 3Y*
- 8.25%
- 5Y*
- 3.73%
- 10Y*
- 4.64%
- ALL TIME*
- 4.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.88B | $2.52B | $2.69B | |
| $39.40M | $44.46M | $59.50M |
VPL vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VPL Vanguard FTSE Pacific ETF | 21.47% | 32.66% | 1.68% | 15.58% | -15.20% | 1.10% | 16.65% | 18.16% | -14.40% | 28.85% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.81% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
Correlation
The correlation between VPL and HYG is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2007 | 0.59 |
The correlation between VPL and HYG has been stable across timeframes, ranging from 0.59 to 0.65 - a consistent structural relationship.
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Return for Risk
VPL vs. HYG — Risk / Return Rank
VPL
HYG
VPL vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Pacific ETF (VPL) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
| VPL | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.25 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 2.20 | +0.71 |
| Martin ratioReturn relative to average drawdown | 8.80 | 9.47 | -0.67 |
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Drawdowns
VPL vs. HYG - Drawdown Comparison
The maximum VPL drawdown since its inception was -55.49%, which is greater than HYG's maximum drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for VPL and HYG.
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Drawdown Indicators
| VPL | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.49% | -34.25% | -21.24% |
Max Drawdown (1Y)Largest decline over 1 year | -13.33% | -2.34% | -10.99% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -4.56% | -11.79% |
Max Drawdown (5Y)Largest decline over 5 years | -31.09% | -15.79% | -15.30% |
Max Drawdown (10Y)Largest decline over 10 years | -33.90% | -22.03% | -11.87% |
Current DrawdownCurrent decline from peak | -9.04% | -0.22% | -8.82% |
Average DrawdownAverage peak-to-trough decline | -11.59% | -3.22% | -8.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.40% | 0.54% | +3.86% |
Volatility
VPL vs. HYG - Volatility Comparison
Vanguard FTSE Pacific ETF (VPL) has a higher volatility of 9.21% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 0.83%. This indicates that VPL's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VPL | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.21% | 0.83% | +8.38% |
Volatility (6M)Calculated over the trailing 6-month period | 21.71% | 3.17% | +18.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.81% | 3.87% | +19.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.35% | 7.53% | +10.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.73% | 8.21% | +9.52% |
VPL vs. HYG - Expense Ratio Comparison
VPL has a 0.08% expense ratio, which is lower than HYG's 0.49% expense ratio.
Dividends
VPL vs. HYG - Dividend Comparison
VPL's dividend yield for the trailing twelve months is around 2.76%, less than HYG's 5.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.91% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
VPL Vanguard FTSE Pacific ETF | 2.76% | 4.01% | 3.15% | 3.12% | 2.75% | 3.19% | 1.81% | 2.84% | 3.06% | 2.57% | 2.65% | 2.43% |
Frequently Asked Questions
VPL and HYG have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPL has higher volatility (9.21%) compared to HYG (0.83%). In terms of maximum drawdown, VPL dropped -55.49% vs HYG's -34.25%.
On 10-year performance, VPL leads with 9.50% vs 4.64% for HYG. On fees, VPL is cheaper at 0.08% per year. On volatility, HYG has been the lower-risk option at 0.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VPL has performed better with a 9.50% return vs 4.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VPL is cheaper with a 0.08% expense ratio, compared with 0.49% for HYG.
HYG has the higher dividend yield at 5.91%, compared with 2.76% for VPL.
VPL is categorized as Asia Pacific Equities, while HYG is High Yield Bonds. VPL tracks FTSE Developed Asia Pacific Index, while HYG tracks Markit iBoxx USD Liquid High Yield Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.08% for VPL and 0.49% for HYG.
VPL currently has the higher Sharpe Ratio (1.63 vs 1.33), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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