YLD vs. HYHG
YLD (Principal Active High Yield ETF) and HYHG (ProShares High Yield-Interest Rate Hedged) are both High Yield Bonds funds. YLD is actively managed, while HYHG is passively managed. Over the past 10 years, YLD returned 5.27%/yr vs 5.97%/yr for HYHG. Their 0.40 correlation means their historical movements had little consistent relationship. YLD charges 0.39%/yr vs 0.50%/yr for HYHG.
Performance
YLD vs. HYHG - Performance Comparison
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Returns By Period
In the year-to-date period, YLD achieves a 3.49% return, which is significantly lower than HYHG's 4.39% return. Over the past 10 years, YLD has underperformed HYHG with an annualized return of 5.27%, while HYHG has yielded a comparatively higher 5.97% annualized return.
YLD
- 1D
- 0.15%
- 1M
- 0.14%
- 6M
- 2.33%
- YTD
- 3.49%
- 1Y
- 5.85%
- 3Y*
- 8.47%
- 5Y*
- 4.67%
- 10Y*
- 5.27%
- ALL TIME*
- 5.34%
HYHG
- 1D
- 0.31%
- 1M
- 0.56%
- 6M
- 3.29%
- YTD
- 4.39%
- 1Y
- 8.03%
- 3Y*
- 9.07%
- 5Y*
- 7.34%
- 10Y*
- 5.97%
- ALL TIME*
- 4.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.24M | $1.63M | $1.20M | |
| $3.83M | $3.27M | $3.45M |
YLD vs. HYHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YLD Principal Active High Yield ETF | 3.49% | 6.55% | 9.19% | 12.93% | -8.78% | 9.17% | 1.50% | 13.58% | -3.30% | 9.12% |
HYHG ProShares High Yield-Interest Rate Hedged | 4.39% | 5.31% | 11.41% | 14.69% | -1.71% | 5.75% | 0.16% | 12.02% | -1.95% | 3.76% |
Correlation
The correlation between YLD and HYHG is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2015 | 0.40 |
The correlation between YLD and HYHG shifts across timeframes, from 0.29 (1 year) to 0.43 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
YLD vs. HYHG — Risk / Return Rank
YLD
HYHG
YLD vs. HYHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Active High Yield ETF (YLD) and ProShares High Yield-Interest Rate Hedged (HYHG). 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.
| YLD | HYHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.26 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.97 | 3.99 | -1.03 |
| Martin ratioReturn relative to average drawdown | 10.16 | 13.34 | -3.18 |
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Drawdowns
YLD vs. HYHG - Drawdown Comparison
The maximum YLD drawdown since its inception was -28.34%, which is greater than HYHG's maximum drawdown of -25.71%. Use the drawdown chart below to compare losses from any high point for YLD and HYHG.
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Drawdown Indicators
| YLD | HYHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.34% | -25.71% | -2.63% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -2.02% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -5.62% | -7.47% | +1.85% |
Max Drawdown (5Y)Largest decline over 5 years | -13.89% | -9.21% | -4.68% |
Max Drawdown (10Y)Largest decline over 10 years | -28.34% | -25.71% | -2.63% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.66% | -3.01% | +0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.60% | -0.02% |
Volatility
YLD vs. HYHG - Volatility Comparison
The current volatility for Principal Active High Yield ETF (YLD) is 0.75%, while ProShares High Yield-Interest Rate Hedged (HYHG) has a volatility of 1.33%. This indicates that YLD experiences smaller price fluctuations and is considered to be less risky than HYHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YLD | HYHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 1.33% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 3.53% | 3.96% | -0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.43% | 5.59% | -1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.38% | 8.17% | -1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.09% | 9.07% | -0.98% |
YLD vs. HYHG - Expense Ratio Comparison
YLD has a 0.39% expense ratio, which is lower than HYHG's 0.50% expense ratio.
Dividends
YLD vs. HYHG - Dividend Comparison
YLD's dividend yield for the trailing twelve months is around 7.34%, more than HYHG's 6.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.67% | 6.97% | 6.57% | 6.07% | 5.58% | 4.54% | 5.21% | 6.06% | 6.45% | 5.57% | 5.37% | 6.37% |
YLD Principal Active High Yield ETF | 7.34% | 7.33% | 7.12% | 6.46% | 6.51% | 3.92% | 4.40% | 4.81% | 5.42% | 6.28% | 4.47% | 2.56% |
Frequently Asked Questions
YLD and HYHG have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYHG has higher volatility (1.33%) compared to YLD (0.75%). In terms of maximum drawdown, YLD dropped -28.34% vs HYHG's -25.71%.
On 10-year performance, HYHG leads with 5.97% vs 5.27% for YLD. On fees, YLD is cheaper at 0.39% per year. On volatility, YLD has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HYHG has performed better with a 5.97% return vs 5.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YLD is cheaper with a 0.39% expense ratio, compared with 0.50% for HYHG.
YLD has the higher dividend yield at 7.34%, compared with 6.67% for HYHG.
They also come from different issuers: Principal and ProShares. Their fees differ too: 0.39% for YLD and 0.50% for HYHG.
HYHG currently has the higher Sharpe Ratio (1.45 vs 1.33), 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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