VSHY vs. USHY

Last updated Aug 4, 2026

VSHY (Virtus Newfleet Short Duration High Yield Bond ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. VSHY is actively managed, while USHY is passively managed. Over the past year, VSHY returned 6.04% vs 5.64% for USHY. Their 0.75 correlation means they have sometimes moved together and sometimes differently. VSHY charges 0.40%/yr vs 0.15%/yr for USHY.

Performance

VSHY vs. USHY - 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 iShares Broad USD High Yield Corporate Bond ETF (USHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSHY achieves a 2.97% return, which is significantly higher than USHY's 2.08% return.

VSHY

• 1D: 0.37%
• 1M: 0.40%
• 6M: 2.23%
• YTD: 2.97%
• 1Y: 6.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.15%

USHY

• 1D: 0.31%
• 1M: 0.01%
• 6M: 1.32%
• YTD: 2.08%
• 1Y: 5.64%
• 3Y*: 8.63%
• 5Y*: 4.16%
• 10Y*: —
• ALL TIME*: 4.75%

*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)
USHY iShares Broad USD High Yield Corporate Bond ETF	$552.78M	$427.44M	$406.45M
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	$34.66K	$24.34K	$44.05K

VSHY vs. USHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	2.97%	6.87%	8.03%	3.76%
USHY iShares Broad USD High Yield Corporate Bond ETF	2.08%	8.81%	8.45%	3.97%

Correlation

The correlation between VSHY and USHY is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (All Time) Calculated using the full available price history since Nov 28, 2023	0.75

The correlation between VSHY and USHY has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.

Return for Risk

VSHY vs. USHY — Risk / Return Rank

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

VSHY

VSHY Risk / Return Rank: 79
VSHY Sharpe Ratio Rank: 72
VSHY Sortino Ratio Rank: 77
VSHY Omega Ratio Rank: 76
VSHY Calmar Ratio Rank: 85
VSHY Martin Ratio Rank: 85

USHY

USHY Risk / Return Rank: 69
USHY Sharpe Ratio Rank: 65
USHY Sortino Ratio Rank: 70
USHY Omega Ratio Rank: 68
USHY Calmar Ratio Rank: 65
USHY Martin Ratio Rank: 79

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. USHY - 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 iShares Broad USD High Yield Corporate Bond ETF (USHY). 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	USHY	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.54	+0.23
Sortino ratio: Return per unit of downside risk	2.69	2.32	+0.37
Omega ratio: Gain probability vs. loss probability	1.34	1.29	+0.05
Calmar ratio: Return relative to maximum drawdown	3.50	2.33	+1.17
Martin ratio: Return relative to average drawdown	13.01	10.25	+2.76

VSHY vs. USHY - Sharpe Ratio Comparison

The current VSHY Sharpe Ratio is 1.77, which is comparable to the USHY Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of VSHY and USHY, 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. USHY - Drawdown Comparison

The maximum VSHY drawdown since its inception was -4.55%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for VSHY and USHY.

Drawdown Indicators

	VSHY	USHY	Difference
Max Drawdown Largest peak-to-trough decline	-4.55%	-22.44%	+17.89%
Max Drawdown (1Y) Largest decline over 1 year	-1.73%	-2.43%	+0.70%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.56%	—
Current Drawdown Current decline from peak	0.00%	-0.18%	+0.18%
Average Drawdown Average peak-to-trough decline	-0.40%	-2.62%	+2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	0.55%	-0.08%

Volatility

VSHY vs. USHY - Volatility Comparison

The current volatility for Virtus Newfleet Short Duration High Yield Bond ETF (VSHY) is 0.70%, while iShares Broad USD High Yield Corporate Bond ETF (USHY) has a volatility of 0.82%. This indicates that VSHY experiences smaller price fluctuations and is considered to be less risky than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSHY	USHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	0.82%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	2.82%	3.03%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	3.44%	3.69%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.33%	7.35%	-3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.33%	8.18%	-3.85%

VSHY vs. USHY - Expense Ratio Comparison

VSHY has a 0.40% expense ratio, which is higher than USHY's 0.15% expense ratio.

Dividends

VSHY vs. USHY - Dividend Comparison

VSHY's dividend yield for the trailing twelve months is around 6.24%, less than USHY's 6.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
USHY iShares Broad USD High Yield Corporate Bond ETF	6.95%	6.79%	6.89%	6.63%	6.08%	5.07%	5.30%	5.92%	6.30%	0.73%
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	6.24%	6.14%	6.81%	1.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VSHY and USHY in my portfolio?

VSHY and USHY have a correlation of 0.82, 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 USHY?

USHY has higher volatility (0.82%) compared to VSHY (0.70%). In terms of maximum drawdown, VSHY dropped -4.55% vs USHY's -22.44%.

Which ETF is better, VSHY or USHY?

On 1-year performance, VSHY leads with 6.04% vs 5.64% for USHY. On fees, USHY is cheaper at 0.15% per year. On volatility, VSHY has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VSHY or USHY?

Over the 1-year period, VSHY has performed better with a 6.04% return vs 5.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VSHY or USHY?

USHY is cheaper with a 0.15% expense ratio, compared with 0.40% for VSHY.

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

USHY has the higher dividend yield at 6.95%, compared with 6.24% for VSHY.

What is the main difference between VSHY and USHY?

They also come from different issuers: Virtus and iShares. Their fees differ too: 0.40% for VSHY and 0.15% for USHY.

Which has better risk-adjusted returns?

VSHY currently has the higher Sharpe Ratio (1.77 vs 1.54), 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.