iShares Interest Rate Hedged High Yield Bond ETF
$85.24−0.22 (−0.26%)
- 1.12%
- $657M
- +6.8%
- 6.48%
- 0.1M sh
- $85.36
- low $84.66high $87.19
The ETF.net HYGH Grade
C
Score 45 out of 100
- 59 of 85
Score 45 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F1 out of 100Rank 84 of 85Mission
Whether the fund did what it promised, tested against its stated mandate.B66 out of 100Rank 59 of 74Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C53 out of 100Rank 43 of 85Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A78 out of 100Rank 11 of 85Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C48 out of 100Rank 55 of 85Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A81 out of 100Rank 12 of 85
Our read on HYGH
CJunk bonds with the rate bet taken out. HYGH tracks an index that pairs high-yield corporate credit with interest-rate hedges, aiming to leave you holding the credit risk and little of the duration. That overlay is not free: 1.12% a year.
The Fund seeks to track an index combining high-yield corporate-bond exposure with interest-rate hedges intended to reduce sensitivity to rising rates.
Why people hold it
- The hedge is the whole point: the index combines high-yield corporate bond exposure with interest-rate hedges intended to cut sensitivity to rising rates.
- Rules-based and fully index-tracked (BlackRock Interest Rate Hedged High Yield Bond Index), running since 2014, so this hedging approach has a decade-plus history at a large iShares shop.
- Income arrives monthly, and for a specialty overlay strategy the shares change hands at a workable clip.
Worth knowing
- The fee is the trade-off: 1.12% a year, many times what plain high-yield index funds charge (SCYB 0.03%, SPHY 0.05%, USHY 0.08%). The hedge machinery is what you are paying for.
- The hedge targets rate moves, not defaults. Credit risk stays fully in the mix, so a high-yield selloff driven by credit worries passes straight through.
- Reduced rate sensitivity works in both directions: it also mutes the price swing an unhedged high-yield fund would see if rates move lower.
HYGH Holdings
- Bonds
- 1,534
- 9%
- Blk Csh Fnd Treasury Sl Agency
Sectors
- Consumer Discretionary19.8%
- Communications16.4%
- Energy12.9%
- Capital Goods11.7%
- Health Care8.1%
- Basic Industry6.2%
- Finance Companies5.1%
- Insurance4.6%
- Electric4.2%
- Consumer Non-Cyclical4.2%
- Reits2.1%
- Transportation1.8%
- Treasuries1.1%
- Brokerage/Asset Managers/Exchanges0.9%
- Real Estate0.4%
- Owned No Guarantee0.3%
- Banking0.2%
Geography
- United States100.00%
HYGH Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
HYGH$10,679
Returns run to the Oct 12, 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 | HYGH |
|---|---|
| Year to date | +4.0% |
| 1 month | −0.7% |
| 3 months | +0.4% |
| 1 year | +6.8% |
| 3 years | +9.0% |
| 5 years | +7.0% |
| 10 years | +5.8% |
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 | HYGH |
|---|---|---|
| 2026 YTD | +4.0% | |
| 2025 | +6.9% | |
| 2024 | +11.2% | |
| 2023 | +12.2% | |
| 2022 | −0.9% | |
| 2021 | +5.8% | |
| 2020 | +0.5% |
HYGH in the news
HYGH Dividends
- 6.48%
- $5.54
- $0.40 per share
- Monthly
Distribution history
HYGH Risk
- 3.0%
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.
- 1.36
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.
- −8.2%
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.
- 0.20
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HYGH Cost
1.12%
HYGH1.12%
- The middle half of US High Yield funds
- Median 0.43%
83 of the 85 US High Yield funds charge less.
Other funds in US High Yield
- CHYZDWisdomTree Interest Rate Hedged High Yield Bond FundExpense ratio 0.43%1 year return +6.3%
- COBNDState Street Loomis Sayles Opportunistic Bond ETFExpense ratio 0.55%1 year return +1.2%
- CSIFIHarbor Ares Systematic Multi-Sector Income ETFExpense ratio 0.50%1 year return +1.7%
- CFLXNHorizon Flexible Income ETFExpense ratio 0.80%1 year return +5.6%
- CGBHIGabelli ETFs Trust - Gabelli High Income ETFExpense ratio 0.56%1 year return —