VSHY vs. THY

Last updated Jun 26, 2026

VSHY (Virtus Newfleet Short Duration High Yield Bond ETF) and THY (Agility Shares Dynamic Tactical Income ETF) are both High Yield Bonds funds. Both are actively managed. Over the past year, VSHY returned 6.03% vs 3.28% for THY. A 0.61 correlation means they provide meaningful diversification when combined. VSHY charges 0.40%/yr vs 1.36%/yr for THY.

Performance

VSHY vs. THY - 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 Agility Shares Dynamic Tactical Income ETF (THY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSHY achieves a 2.30% return, which is significantly higher than THY's 0.78% return.

VSHY

• 1D: 0.00%
• 1M: 0.46%
• YTD: 2.30%
• 6M: 2.13%
• 1Y: 6.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

THY

• 1D: 0.00%
• 1M: 0.28%
• YTD: 0.78%
• 6M: 0.89%
• 1Y: 3.28%
• 3Y*: 5.38%
• 5Y*: 1.65%
• 10Y*: —

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

VSHY vs. THY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	2.30%	6.87%	8.03%	3.76%
THY Agility Shares Dynamic Tactical Income ETF	0.78%	4.44%	5.38%	3.72%

Correlation

The correlation between VSHY and THY is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (All Time) Calculated using the full available price history since Nov 28, 2023	0.61

The correlation between VSHY and THY has been stable across timeframes, ranging from 0.61 to 0.66 - a consistent structural relationship.

Return for Risk

VSHY vs. THY — Risk / Return Rank

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

VSHY

VSHY Risk / Return Rank: 68
VSHY Sharpe Ratio Rank: 59
VSHY Sortino Ratio Rank: 64
VSHY Omega Ratio Rank: 63
VSHY Calmar Ratio Rank: 77
VSHY Martin Ratio Rank: 77

THY

THY Risk / Return Rank: 36
THY Sharpe Ratio Rank: 33
THY Sortino Ratio Rank: 33
THY Omega Ratio Rank: 31
THY Calmar Ratio Rank: 47
THY Martin Ratio Rank: 35

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.

VSHY vs. THY - 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 Agility Shares Dynamic Tactical Income ETF (THY). 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	THY	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.11	+0.63
Sortino ratio: Return per unit of downside risk	2.63	1.63	+0.99
Omega ratio: Gain probability vs. loss probability	1.33	1.20	+0.13
Calmar ratio: Return relative to maximum drawdown	3.49	2.05	+1.44
Martin ratio: Return relative to average drawdown	12.98	4.85	+8.12

VSHY vs. THY - Sharpe Ratio Comparison

The current VSHY Sharpe Ratio is 1.74, which is higher than the THY Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of VSHY and THY, 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. THY - Drawdown Comparison

The maximum VSHY drawdown since its inception was -4.55%, smaller than the maximum THY drawdown of -8.56%. Use the drawdown chart below to compare losses from any high point for VSHY and THY.

Drawdown Indicators

	VSHY	THY	Difference
Max Drawdown Largest peak-to-trough decline	-4.55%	-8.56%	+4.01%
Max Drawdown (1Y) Largest decline over 1 year	-1.73%	-1.60%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-2.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.56%	—
Current Drawdown Current decline from peak	-0.39%	-0.50%	+0.11%
Average Drawdown Average peak-to-trough decline	-0.41%	-2.60%	+2.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	0.68%	-0.21%

Volatility

VSHY vs. THY - Volatility Comparison

Virtus Newfleet Short Duration High Yield Bond ETF (VSHY) has a higher volatility of 1.14% compared to Agility Shares Dynamic Tactical Income ETF (THY) at 0.91%. This indicates that VSHY's price experiences larger fluctuations and is considered to be riskier than THY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSHY	THY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	0.91%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	2.78%	1.94%	+0.84%
Volatility (1Y) Calculated over the trailing 1-year period	3.48%	2.96%	+0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.39%	4.56%	-0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.39%	4.47%	-0.08%

VSHY vs. THY - Expense Ratio Comparison

VSHY has a 0.40% expense ratio, which is lower than THY's 1.36% expense ratio.

Dividends

VSHY vs. THY - Dividend Comparison

VSHY's dividend yield for the trailing twelve months is around 6.36%, more than THY's 5.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
THY Agility Shares Dynamic Tactical Income ETF	5.43%	6.00%	5.09%	4.59%	2.56%	3.46%	2.53%
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	6.36%	6.14%	6.81%	1.36%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VSHY and THY in my portfolio?

VSHY and THY have a correlation of 0.66, 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 THY?

VSHY has higher volatility (1.14%) compared to THY (0.91%). In terms of maximum drawdown, VSHY dropped -4.55% vs THY's -8.56%.

Which ETF is better, VSHY or THY?

On 1-year performance, VSHY leads with 6.03% vs 3.28% for THY. On fees, VSHY is cheaper at 0.40% per year. On volatility, THY has been the lower-risk option at 0.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VSHY or THY?

Over the 1-year period, VSHY has performed better with a 6.03% return vs 3.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VSHY or THY?

VSHY is cheaper with a 0.40% expense ratio, compared with 1.36% for THY.

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

VSHY has the higher dividend yield at 6.36%, compared with 5.43% for THY.

What is the main difference between VSHY and THY?

They also come from different issuers: Virtus and Toews Corp.. Their fees differ too: 0.40% for VSHY and 1.36% for THY.

Which has better risk-adjusted returns?

VSHY currently has the higher Sharpe Ratio (1.74 vs 1.11), 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.