VSHY vs. ASMF

Last updated Aug 2, 2026

VSHY (Virtus Newfleet Short Duration High Yield Bond ETF) and ASMF (Virtus AlphaSimplex Managed Futures ETF) are both exchange-traded funds - VSHY is a High Yield Bonds fund actively managed by Virtus, while ASMF is a Systematic Trend fund actively managed by Virtus. Both are actively managed. Over the past year, VSHY returned 5.65% vs 16.60% for ASMF. Their 0.24 correlation means their historical movements had little consistent relationship. VSHY charges 0.40%/yr vs 0.80%/yr for ASMF.

Performance

VSHY vs. ASMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Newfleet Short Duration High Yield Bond ETF (VSHY) and Virtus AlphaSimplex Managed Futures ETF (ASMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSHY achieves a 2.59% return, which is significantly lower than ASMF's 7.73% return.

VSHY

• 1D: 0.05%
• 1M: 0.03%
• 6M: 1.86%
• YTD: 2.59%
• 1Y: 5.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.02%

ASMF

• 1D: 0.77%
• 1M: 1.36%
• 6M: 3.31%
• YTD: 7.73%
• 1Y: 16.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.24%

*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)
ASMF Virtus AlphaSimplex Managed Futures ETF	$131.02K	$83.29K	$68.36K
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	$29.95K	$21.95K	$45.98K

VSHY vs. ASMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	2.59%	6.87%	6.03%
ASMF Virtus AlphaSimplex Managed Futures ETF	7.73%	1.16%	-3.65%

Correlation

The correlation between VSHY and ASMF is 0.25, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.25
Correlation (All Time) Calculated using the full available price history since May 16, 2024	0.24

Return for Risk

VSHY vs. ASMF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VSHY

VSHY Risk / Return Rank: 80
VSHY Sharpe Ratio Rank: 74
VSHY Sortino Ratio Rank: 79
VSHY Omega Ratio Rank: 78
VSHY Calmar Ratio Rank: 86
VSHY Martin Ratio Rank: 86

ASMF

ASMF Risk / Return Rank: 65
ASMF Sharpe Ratio Rank: 61
ASMF Sortino Ratio Rank: 58
ASMF Omega Ratio Rank: 61
ASMF Calmar Ratio Rank: 85
ASMF Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VSHY vs. ASMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Newfleet Short Duration High Yield Bond ETF (VSHY) and Virtus AlphaSimplex Managed Futures ETF (ASMF). 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.

	VSHY	ASMF	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.43	+0.26
Sortino ratio: Return per unit of downside risk	2.56	1.99	+0.57
Omega ratio: Gain probability vs. loss probability	1.33	1.27	+0.06
Calmar ratio: Return relative to maximum drawdown	3.32	3.26	+0.06
Martin ratio: Return relative to average drawdown	12.36	7.54	+4.82

VSHY vs. ASMF - Sharpe Ratio Comparison

The current VSHY Sharpe Ratio is 1.69, which is comparable to the ASMF Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of VSHY and ASMF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VSHY vs. ASMF - Drawdown Comparison

The maximum VSHY drawdown since its inception was -4.55%, smaller than the maximum ASMF drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for VSHY and ASMF.

Drawdown Indicators

	VSHY	ASMF	Difference
Max Drawdown Largest peak-to-trough decline	-4.55%	-15.31%	+10.76%
Max Drawdown (1Y) Largest decline over 1 year	-1.73%	-5.02%	+3.29%
Current Drawdown Current decline from peak	-0.10%	-2.83%	+2.73%
Average Drawdown Average peak-to-trough decline	-0.40%	-7.27%	+6.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	2.17%	-1.70%

Volatility

VSHY vs. ASMF - Volatility Comparison

The current volatility for Virtus Newfleet Short Duration High Yield Bond ETF (VSHY) is 0.60%, while Virtus AlphaSimplex Managed Futures ETF (ASMF) has a volatility of 2.26%. This indicates that VSHY experiences smaller price fluctuations and is considered to be less risky than ASMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSHY	ASMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.60%	2.26%	-1.66%
Volatility (6M) Calculated over the trailing 6-month period	2.80%	9.19%	-6.39%
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	11.49%	-8.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.32%	10.90%	-6.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.32%	10.90%	-6.58%

VSHY vs. ASMF - Expense Ratio Comparison

VSHY has a 0.40% expense ratio, which is lower than ASMF's 0.80% expense ratio.

Dividends

VSHY vs. ASMF - Dividend Comparison

VSHY's dividend yield for the trailing twelve months is around 6.26%, more than ASMF's 0.20% yield.

Position	TTM	2025	2024	2023
ASMF Virtus AlphaSimplex Managed Futures ETF	0.20%	0.22%	1.66%	0.00%
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	6.26%	6.14%	6.81%	1.36%

Frequently Asked Questions

Can I hold both VSHY and ASMF in my portfolio?

VSHY and ASMF have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSHY or ASMF?

ASMF has higher volatility (2.26%) compared to VSHY (0.60%). In terms of maximum drawdown, VSHY dropped -4.55% vs ASMF's -15.31%.

Which ETF is better, VSHY or ASMF?

On 1-year performance, ASMF leads with 16.60% vs 5.65% for VSHY. On fees, VSHY is cheaper at 0.40% per year. On volatility, VSHY has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VSHY or ASMF?

Over the 1-year period, ASMF has performed better with a 16.60% return vs 5.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VSHY or ASMF?

VSHY is cheaper with a 0.40% expense ratio, compared with 0.80% for ASMF.

Which ETF pays a higher dividend yield, VSHY or ASMF?

VSHY has the higher dividend yield at 6.26%, compared with 0.20% for ASMF.

What is the main difference between VSHY and ASMF?

VSHY is categorized as High Yield Bonds, while ASMF is Systematic Trend. Their fees differ too: 0.40% for VSHY and 0.80% for ASMF.

Which has better risk-adjusted returns?

VSHY currently has the higher Sharpe Ratio (1.69 vs 1.43), 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.