WFHY vs. BKHY
WFHY (WisdomTree U.S. High Yield Corporate Bond Fund) and BKHY (BNY Mellon High Yield Beta ETF) are both High Yield Bonds funds - WFHY tracks the WisdomTree Fundamental U.S. High Yield Corporate Bond Index while BKHY tracks the Bloomberg US Corporate High Yield Index. Both are passively managed. Over the past 5 years, WFHY returned 3.22%/yr vs 4.19%/yr for BKHY. Their correlation of 0.92 suggests significant overlap in exposure. WFHY charges 0.38%/yr vs 0.22%/yr for BKHY.
Performance
WFHY vs. BKHY - Performance Comparison
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Returns By Period
In the year-to-date period, WFHY achieves a 1.51% return, which is significantly lower than BKHY's 1.83% return.
WFHY
- 1D
- 0.05%
- 1M
- 0.46%
- YTD
- 1.51%
- 6M
- 1.74%
- 1Y
- 7.04%
- 3Y*
- 8.17%
- 5Y*
- 3.22%
- 10Y*
- 4.96%
BKHY
- 1D
- 0.10%
- 1M
- 0.54%
- YTD
- 1.83%
- 6M
- 2.02%
- 1Y
- 7.19%
- 3Y*
- 8.93%
- 5Y*
- 4.19%
- 10Y*
- —
WFHY vs. BKHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
WFHY WisdomTree U.S. High Yield Corporate Bond Fund | 1.51% | 9.61% | 5.92% | 10.12% | -11.81% | 4.12% | 16.29% |
BKHY BNY Mellon High Yield Beta ETF | 1.83% | 8.48% | 8.37% | 12.40% | -10.97% | 4.75% | 17.83% |
Correlation
The correlation between WFHY and BKHY is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020 | 0.92 |
The correlation between WFHY and BKHY has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.
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Return for Risk
WFHY vs. BKHY — Risk / Return Rank
WFHY
BKHY
WFHY vs. BKHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. High Yield Corporate Bond Fund (WFHY) and BNY Mellon High Yield Beta ETF (BKHY). 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.
| WFHY | BKHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.39 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 2.86 | -0.30 |
| Martin ratioReturn relative to average drawdown | 11.61 | 13.14 | -1.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WFHY | BKHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.95 | 1.96 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.55 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.90 | -0.29 |
Drawdowns
WFHY vs. BKHY - Drawdown Comparison
The maximum WFHY drawdown since its inception was -22.74%, which is greater than BKHY's maximum drawdown of -15.89%. Use the drawdown chart below to compare losses from any high point for WFHY and BKHY.
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Drawdown Indicators
| WFHY | BKHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.74% | -15.89% | -6.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -2.53% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -4.58% | -4.87% | +0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -16.21% | -15.89% | -0.32% |
Max Drawdown (10Y)Largest decline over 10 years | -22.74% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.17% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -2.75% | -2.97% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 0.55% | +0.06% |
Volatility
WFHY vs. BKHY - Volatility Comparison
WisdomTree U.S. High Yield Corporate Bond Fund (WFHY) and BNY Mellon High Yield Beta ETF (BKHY) have volatilities of 1.07% and 1.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WFHY | BKHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.12% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.86% | 2.96% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.64% | 3.69% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.57% | 7.58% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.20% | 7.36% | +0.84% |
WFHY vs. BKHY - Expense Ratio Comparison
WFHY has a 0.38% expense ratio, which is higher than BKHY's 0.22% expense ratio.
Dividends
WFHY vs. BKHY - Dividend Comparison
WFHY's dividend yield for the trailing twelve months is around 6.25%, less than BKHY's 7.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BKHY BNY Mellon High Yield Beta ETF | 7.46% | 7.33% | 7.34% | 8.67% | 6.59% | 6.78% | 4.65% | 0.00% | 0.00% | 0.00% | 0.00% |
WFHY WisdomTree U.S. High Yield Corporate Bond Fund | 6.25% | 6.26% | 6.40% | 6.11% | 5.44% | 4.09% | 4.80% | 5.21% | 5.93% | 6.47% | 4.39% |
Frequently Asked Questions
WFHY and BKHY have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BKHY has higher volatility (1.12%) compared to WFHY (1.07%). In terms of maximum drawdown, WFHY dropped -22.74% vs BKHY's -15.89%.
On 5-year performance, BKHY leads with 4.19% vs 3.22% for WFHY. On fees, BKHY is cheaper at 0.22% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BKHY has performed better with a 4.19% return vs 3.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKHY is cheaper with a 0.22% expense ratio, compared with 0.38% for WFHY.
BKHY has the higher dividend yield at 7.46%, compared with 6.25% for WFHY.
WFHY tracks WisdomTree Fundamental U.S. High Yield Corporate Bond Index, while BKHY tracks Bloomberg US Corporate High Yield Index. They also come from different issuers: WisdomTree and BNY Mellon. Their fees differ too: 0.38% for WFHY and 0.22% for BKHY.
BKHY currently has the higher Sharpe Ratio (1.96 vs 1.95), 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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