HYBX
This fund does not currently behave like the group it was assigned to, so its grouping is being re-reviewed. Grading pauses until the review resolves, because a letter measured against the wrong peer group would be a statement about the wrong funds.New York Stock ExchangeTCW High Yield Bond ETF
$29.20−0.18 (−0.61%)
- Expense ratio
- 0.50%
- Fund size
- $29M
- 1Y return
- +4.1%
- Yield · Last 12 months
- 8.10%
- Holdings
- 257
- Volume · 30D
- 0M sh
- NAV per share
- $29.40
- 52W range
Our read on HYBX
A 1989-vintage junk-bond fund that traded its mutual fund wrapper for an ETF in 2024. TCW picks bonds one issuer at a time, chasing income with fewer credit blowups than owning the whole high yield market.
The SEC filing identifies HYBX as an actively managed fixed-income ETF named TCW High Yield Bond ETF.
Why people hold it
- The record predates the wrapper: the predecessor TCW mutual fund dates to 1989 and its accounting and performance history carried into the ETF at the November 2024 conversion.tcw.com
- Active by design: at least 80% of net assets in high yield bonds, spread over roughly 300 positions chosen by bottom-up credit work rather than by index weight.sec.govtcw.com
- Income lands monthly, and TCW states the ETF carries lower expenses than the mutual fund it absorbed.tcw.com
Worth knowing
- At 0.50%, the fee runs above the typical high yield bond ETF, and index rivals like SPHY and SCYB charge a small fraction of it. Stock picking has to cover that gap.
- Small and thinly traded beside the index giants, which can mean wider bid-ask spreads and rougher fills when markets move fast.
- Junk is still junk: below-investment-grade credit reprices hard when the economy wobbles, and active selection does not remove default risk.sec.gov
HYBX Holdings
- Bonds
- 257
- 14%
- TCW CENTRAL CASH FUND TCW CENTRAL CASH FUND INST
Sectors
- Health Care100.0%
Geography
- United States88.96%
- Canada2.62%
- Netherlands1.41%
- Luxembourg1.26%
- Italy1.24%
- United Kingdom1.18%
- Cayman Islands0.85%
- Denmark0.49%
- 1.99%
HYBX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | HYBX |
|---|---|
| Year to date | +3.4% |
| 1 month | −0.2% |
| 3 months | +1.3% |
| 1 year | +4.1% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | HYBX |
|---|---|---|
| 2026 YTD | +3.4% | |
| 2025 | +6.3% | |
| 2024 | −0.1% |
HYBX in the news
ETF.net Research hasn’t filed on HYBX yet — coverage lands here as it’s written.
HYBX Dividends
- 8.10%
- $2.38
- $0.20 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 3, 2026 | $0.20 |
| Aug 3, 2026 | Aug 5, 2026 | $0.20 |
| Jul 1, 2026 | Jul 6, 2026 | $0.19 |
| Jun 1, 2026 | Jun 3, 2026 | $0.19 |
| May 1, 2026 | May 5, 2026 | $0.19 |
| Apr 1, 2026 | Apr 6, 2026 | $0.19 |
| Mar 2, 2026 | Mar 4, 2026 | $0.19 |
| Feb 2, 2026 | Feb 4, 2026 | $0.19 |
| Dec 17, 2025 | Dec 19, 2025 | $0.21 |
| Dec 1, 2025 | Dec 3, 2025 | $0.22 |
| Nov 3, 2025 | Nov 5, 2025 | $0.22 |
| Oct 1, 2025 | Oct 3, 2025 | $0.19 |
HYBX Risk
- 2.8%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.64
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −4.2%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.56
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HYBX Cost
- The middle half of US High Yield funds
- Median 0.43%
52 of the 84 US High Yield funds charge less.