WFHY vs. BKHY
Compare and contrast key facts about WisdomTree U.S. High Yield Corporate Bond Fund (WFHY) and BNY Mellon High Yield Beta ETF (BKHY).
WFHY and BKHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WFHY is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Fundamental U.S. High Yield Corporate Bond Index. It was launched on Apr 27, 2016. BKHY is a passively managed fund by The Bank of New York Mellon Corp. that tracks the performance of the Bloomberg US Corporate High Yield Index. It was launched on Apr 24, 2020. Both WFHY and BKHY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: WFHY or BKHY.
Key characteristics
| WFHY | BKHY | |
|---|---|---|
| YTD Return | 4.52% | 8.28% |
| 1Y Return | 10.99% | 14.17% |
| 3Y Return (Ann) | 0.81% | 2.94% |
| Sharpe Ratio | 1.10 | 3.13 |
| Sortino Ratio | 1.69 | 4.96 |
| Omega Ratio | 1.38 | 1.62 |
| Calmar Ratio | 1.31 | 2.62 |
| Martin Ratio | 4.12 | 26.24 |
| Ulcer Index | 2.79% | 0.53% |
| Daily Std Dev | 10.45% | 4.47% |
| Max Drawdown | -22.74% | -15.89% |
| Current Drawdown | -4.38% | -0.53% |
Correlation
The correlation between WFHY and BKHY is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
WFHY vs. BKHY - Performance Comparison
In the year-to-date period, WFHY achieves a 4.52% return, which is significantly lower than BKHY's 8.28% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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WFHY vs. BKHY - Expense Ratio Comparison
WFHY has a 0.38% expense ratio, which is higher than BKHY's 0.22% expense ratio.
Risk-Adjusted Performance
WFHY vs. BKHY - Risk-Adjusted Performance 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.
Dividends
WFHY vs. BKHY - Dividend Comparison
WFHY's dividend yield for the trailing twelve months is around 6.25%, less than BKHY's 7.00% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|
WFHY WisdomTree U.S. High Yield Corporate Bond Fund | 6.25% | 6.11% | 5.44% | 4.09% | 4.79% | 5.21% | 5.93% | 6.47% | 4.39% |
BKHY BNY Mellon High Yield Beta ETF | 7.00% | 8.67% | 6.59% | 6.78% | 4.65% | 0.00% | 0.00% | 0.00% | 0.00% |
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. For additional features, visit the drawdowns tool.
Volatility
WFHY vs. BKHY - Volatility Comparison
WisdomTree U.S. High Yield Corporate Bond Fund (WFHY) has a higher volatility of 1.37% compared to BNY Mellon High Yield Beta ETF (BKHY) at 1.04%. This indicates that WFHY's price experiences larger fluctuations and is considered to be riskier than BKHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.