iShares Interest Rate Hedged High Yield Bond ETF
$86.45−0.20 (−0.24%)
- Expense ratio
- 1.12%
- Fund size
- $658M
- 1Y return
- +6.7%
- Yield · Last 12 months
- 6.47%
- Volume · 30D
- 0.1M sh
- NAV per share
- $86.57
- 52W range
The ETF.net HYGH Grade
Score 44 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 1Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.BScore 64Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 52Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 73Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 55Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 81Category rank
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
- —
- 11%
- BLK CSH FND TREASURY SL AGENCY
Sectors
- Utilities99.6%
- Real Estate0.4%
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.
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 | HYGH |
|---|---|
| Year to date | +4.9% |
| 1 month | +0.6% |
| 3 months | +1.5% |
| 1 year | +6.7% |
| 3 years | +9.1% |
| 5 years | +7.1% |
| 10 years | +6.0% |
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 | +4.9% | |
| 2025 | +6.9% | |
| 2024 | +11.2% | |
| 2023 | +12.2% | |
| 2022 | −0.9% | |
| 2021 | +5.8% | |
| 2020 | +0.5% |
HYGH in the news
ETF.net Research hasn’t filed on HYGH yet — coverage lands here as it’s written.
HYGH Dividends
- 6.47%
- $5.61
- $0.48 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 2, 2026 | Sep 8, 2026 | $0.48 |
| Aug 4, 2026 | Aug 7, 2026 | $0.44 |
| Jul 2, 2026 | Jul 8, 2026 | $0.45 |
| Jun 2, 2026 | Jun 5, 2026 | $0.46 |
| May 4, 2026 | May 7, 2026 | $0.49 |
| Apr 2, 2026 | Apr 8, 2026 | $0.49 |
| Mar 3, 2026 | Mar 6, 2026 | $0.47 |
| Feb 3, 2026 | Feb 6, 2026 | $0.43 |
| Dec 23, 2025 | Dec 29, 2025 | $0.48 |
| Dec 2, 2025 | Dec 5, 2025 | $0.45 |
| Nov 4, 2025 | Nov 7, 2025 | $0.50 |
| Oct 2, 2025 | Oct 7, 2025 | $0.48 |
HYGH Risk
- 2.9%
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.
- 1.43
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
- The middle half of US High Yield funds
- Median 0.43%
82 of the 84 US High Yield funds charge less.