ProShares - High Yield - Interest Rate Hedged
$64.80−0.23 (−0.35%)
- Expense ratio
- 0.50%
- Fund size
- $270M
- 1Y return
- +6.4%
- Yield · Last 12 months
- 6.63%
- Holdings
- 253
- Volume · 30D
- 0M sh
- NAV per share
- $64.79
- 52W range
The ETF.net HYHG Grade
Score 32 of 100 sits in the D 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.DScore 36Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.FScore 0Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 44Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 45Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 45Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 76Category rank
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
- 253
- 16%
- Net Other Assets (Liabilities)
Sectors
- Communication56.6%
- Health Care43.4%
Geography
- United States89.96%
- Canada3.74%
- United Kingdom1.60%
- Luxembourg1.47%
- France1.18%
- Netherlands0.61%
- Japan0.53%
- Bermuda0.27%
- 0.64%
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$10,639
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 | HYHG |
|---|---|
| Year to date | +5.5% |
| 1 month | +1.1% |
| 3 months | +1.7% |
| 1 year | +6.4% |
| 3 years | +8.9% |
| 5 years | +7.1% |
| 10 years | +5.9% |
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 | +5.5% | |
| 2025 | +5.3% | |
| 2024 | +11.4% | |
| 2023 | +14.7% | |
| 2022 | −1.7% | |
| 2021 | +5.7% | |
| 2020 | +0.2% |
HYHG in the news
HYHG Dividends
- 6.63%
- $4.31
- $0.36 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 8, 2026 | $0.36 |
| Aug 3, 2026 | Aug 7, 2026 | $0.34 |
| Jul 1, 2026 | Jul 8, 2026 | $0.36 |
| Jun 1, 2026 | Jun 5, 2026 | $0.36 |
| May 1, 2026 | May 7, 2026 | $0.36 |
| Apr 1, 2026 | Apr 8, 2026 | $0.36 |
| Mar 2, 2026 | Mar 6, 2026 | $0.34 |
| Feb 2, 2026 | Feb 6, 2026 | $0.35 |
| Dec 24, 2025 | Dec 31, 2025 | $0.37 |
| Dec 1, 2025 | Dec 5, 2025 | $0.37 |
| Nov 3, 2025 | Nov 7, 2025 | $0.37 |
| Oct 1, 2025 | Oct 7, 2025 | $0.37 |
HYHG Risk
- 3.9%
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.
- 1.00
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%
52 of the 84 US High Yield funds charge less.