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XHY.TO vs. HYGH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

XHY.TO vs. HYGH - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY.TO) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XHY.TO is traded in CAD, while HYGH is traded in USD. To make them comparable, the HYGH values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XHY.TO achieves a 1.22% return, which is significantly lower than HYGH's 7.11% return. Over the past 10 years, XHY.TO has underperformed HYGH with an annualized return of 3.93%, while HYGH has yielded a comparatively higher 7.20% annualized return.


XHY.TO

1D
0.12%
1M
0.08%
YTD
1.22%
6M
1.16%
1Y
3.36%
3Y*
7.33%
5Y*
2.70%
10Y*
3.93%

HYGH

1D
0.34%
1M
3.34%
YTD
7.11%
6M
7.23%
1Y
11.08%
3Y*
11.82%
5Y*
9.72%
10Y*
7.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XHY.TO vs. HYGH - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
XHY.TO
iShares U.S. High Yield Bond Index ETF (CAD-Hedged)
1.22%6.33%7.05%11.06%-11.10%3.51%2.65%13.83%-3.89%5.35%
HYGH
iShares Interest Rate Hedged High Yield Bond ETF
7.11%2.05%20.64%9.50%5.36%5.76%-1.84%6.51%7.48%-0.82%

Correlation

The correlation between XHY.TO and HYGH is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.37

Correlation (3Y)
Calculated over the trailing 3-year period

0.22

Correlation (5Y)
Calculated over the trailing 5-year period

0.31

Correlation (10Y)
Calculated over the trailing 10-year period

0.33

Correlation (All Time)
Calculated using the full available price history since May 29, 2014

0.33

The correlation between XHY.TO and HYGH shifts across timeframes, from 0.22 (3 years) to 0.37 (1 year), reflecting how their relationship changes across market environments.

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Return for Risk

XHY.TO vs. HYGH — Risk / Return Rank

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

XHY.TO
XHY.TO Risk / Return Rank: 2525
Overall Rank
XHY.TO Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
XHY.TO Sortino Ratio Rank: 2020
Sortino Ratio Rank
XHY.TO Omega Ratio Rank: 2020
Omega Ratio Rank
XHY.TO Calmar Ratio Rank: 2626
Calmar Ratio Rank
XHY.TO Martin Ratio Rank: 3636
Martin Ratio Rank

HYGH
HYGH Risk / Return Rank: 7979
Overall Rank
HYGH Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
HYGH Sortino Ratio Rank: 7777
Sortino Ratio Rank
HYGH Omega Ratio Rank: 7171
Omega Ratio Rank
HYGH Calmar Ratio Rank: 8888
Calmar Ratio Rank
HYGH Martin Ratio Rank: 8989
Martin Ratio Rank
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.

XHY.TO vs. HYGH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY.TO) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH). 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.


XHY.TOHYGHDifference
Sharpe ratioReturn per unit of total volatility

-1.28

Sortino ratioReturn per unit of downside risk

-1.94

Omega ratioGain probability vs. loss probability

1.13

1.36

-0.23

Calmar ratioReturn relative to maximum drawdown

1.17

3.62

-2.45

Martin ratioReturn relative to average drawdown

4.94

10.09

-5.15

XHY.TO vs. HYGH - Sharpe Ratio Comparison

The current XHY.TO Sharpe Ratio is 0.71, which is lower than the HYGH Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of XHY.TO and HYGH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

XHY.TO vs. HYGH - Drawdown Comparison

The maximum XHY.TO drawdown since its inception was -28.48%, which is greater than HYGH's maximum drawdown of -17.13%. Use the drawdown chart below to compare losses from any high point for XHY.TO and HYGH.


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Drawdown Indicators


XHY.TOHYGHDifference

Max Drawdown

Largest peak-to-trough decline

-28.48%

-17.13%

-11.35%

Max Drawdown (1Y)

Largest decline over 1 year

-2.87%

-3.07%

+0.20%

Max Drawdown (3Y)

Largest decline over 3 years

-4.94%

-11.18%

+6.24%

Max Drawdown (5Y)

Largest decline over 5 years

-16.67%

-11.18%

-5.49%

Max Drawdown (10Y)

Largest decline over 10 years

-28.48%

-17.13%

-11.35%

Current Drawdown

Current decline from peak

-0.22%

0.00%

-0.22%

Average Drawdown

Average peak-to-trough decline

-2.54%

-2.47%

-0.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.68%

1.10%

-0.42%

Volatility

XHY.TO vs. HYGH - Volatility Comparison

iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY.TO) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH) have volatilities of 1.36% and 1.37%, 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


XHY.TOHYGHDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.36%

1.37%

-0.01%

Volatility (6M)

Calculated over the trailing 6-month period

3.66%

4.38%

-0.72%

Volatility (1Y)

Calculated over the trailing 1-year period

4.75%

5.61%

-0.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.66%

9.64%

-0.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.59%

10.44%

+0.15%

XHY.TO vs. HYGH - Expense Ratio Comparison

XHY.TO has a 0.56% expense ratio, which is higher than HYGH's 0.52% expense ratio.


Dividends

XHY.TO vs. HYGH - Dividend Comparison

XHY.TO's dividend yield for the trailing twelve months is around 6.13%, less than HYGH's 6.60% yield.


PositionTTM20252024202320222021202020192018201720162015
HYGH
iShares Interest Rate Hedged High Yield Bond ETF
6.60%6.86%7.85%8.95%6.21%3.74%4.06%4.89%6.45%4.79%4.60%5.75%
XHY.TO
iShares U.S. High Yield Bond Index ETF (CAD-Hedged)
6.13%6.04%5.87%5.56%5.70%4.72%5.18%5.38%5.87%5.46%5.64%6.83%

Frequently Asked Questions


XHY.TO and HYGH have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HYGH is cheaper at 0.52% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HYGH is cheaper with a 0.52% expense ratio, compared with 0.56% for XHY.TO.

XHY.TO tracks Morningstar Gbl HY Bd GR CAD, while HYGH tracks Markit iBoxx USD Liquid High Yield Interest Hedged Index. Their fees differ too: 0.56% for XHY.TO and 0.52% for HYGH.

Portfolio Optimizer

Find the right allocation for XHY.TO and HYGH

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