ProShares - High Yield - Interest Rate Hedged
$63.80−0.28 (−0.44%)
- 0.50%
- $281M
- +7.1%
- 6.70%
- 0M sh
- $63.89
- low $63.00high $65.97
The ETF.net HYHG Grade
D
Score 32 out of 100
- 73 of 85
Score 32 of 100 falls in the D 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.D36 out of 100Rank 52 of 85Mission
Whether the fund did what it promised, tested against its stated mandate.F0 out of 100Rank 72 of 74Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C47 out of 100Rank 52 of 85Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C45 out of 100Rank 46 of 85Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C47 out of 100Rank 56 of 85Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A75 out of 100Rank 17 of 85
Our read on HYHG
DMost junk-bond ETFs hand you two risks: credit and interest rates. HYHG keeps the credit and shorts Treasury futures to target a duration of zero. A rare build, running since 2013, in a cohort of plain-vanilla high-yield trackers.
HYHG seeks to track the FTSE High Yield (Treasury Rate-Hedged) Index before fees and expenses. Its strategy combines high-yield corporate-bond exposure with short U.S. Treasury futures intended to reduce Treasury interest-rate sensitivity.
Why people hold it
- The hedge is built in: short Treasury futures against the bond sleeve, targeting a duration of zero, so results lean on coupons and credit spreads rather than the Treasury curve.proshares.com
- No two-ticket assembly. You get high-yield exposure and the rate hedge in one wrapper, instead of pairing a junk-bond fund with your own short-Treasury position.proshares.com
- Live since 2013, so there is more than a decade of real-world history across rising and falling rate regimes. Holds roughly 230 bonds and pays monthly.
- Tracks the FTSE High Yield (Treasury Rate-Hedged) Index, a published rulebook rather than a manager's discretion.
Worth knowing
- The hedge costs: 0.50% a year, above the typical high-yield ETF, while broad rivals like SCYB (0.03%) and SPHY (0.05%) charge a sliver of that.
- It hedges Treasury rates, not credit. Defaults and widening spreads still bite, and when yields fall the short futures leg works against the bonds.proshares.com
- A smaller, more thinly traded fund than the giants of the category, so spreads and order type matter more at the point of entry.
HYHG Holdings
- Bonds
- 244
- 15%
- Net Other Assets (Liabilities)
Sectors
- Communication55.1%
- Health Care44.9%
Geography
- United States89.79%
- Canada3.73%
- Luxembourg1.86%
- United Kingdom1.61%
- France1.10%
- Netherlands0.90%
- Bermuda0.26%
- Malta0.26%
- 0.50%
HYHG Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
HYHG$10,715
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 | HYHG |
|---|---|
| Year to date | +4.5% |
| 1 month | −0.7% |
| 3 months | +0.7% |
| 1 year | +7.1% |
| 3 years | +8.8% |
| 5 years | +7.0% |
| 10 years | +5.7% |
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 | HYHG |
|---|---|---|
| 2026 YTD | +4.5% | |
| 2025 | +5.3% | |
| 2024 | +11.4% | |
| 2023 | +14.7% | |
| 2022 | −1.7% | |
| 2021 | +5.7% | |
| 2020 | +0.2% |
HYHG in the news
HYHG Dividends
- 6.70%
- $4.29
- $0.35 per share
- Monthly
Distribution history
HYHG Risk
- 4.0%
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.
- 0.96
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.
- −9.2%
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.
- 0.10
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HYHG Cost
0.50%
HYHG0.50%
- The middle half of US High Yield funds
- Median 0.43%
53 of the 85 US High Yield funds charge less.
Other funds in US High Yield
- DHYSABondBloxx High Yield Income ETFExpense ratio 0.55%1 year return +2.2%
- DKHYBKraneShares Asia Pacific High Income USD Bond ETFExpense ratio 0.69%1 year return +5.5%
- DTFLRT. Rowe Price Floating Rate ETFExpense ratio 0.61%1 year return +4.8%
- DCDXSimplify High Yield ETFExpense ratio 0.50%1 year return −2.9%
- DMANIMan Active Income ETFExpense ratio 0.85%1 year return +9.2%