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MHY

GradeDNew York Stock Exchange Arca

Man Active High Yield ETF

High Yield Bond · Man Group · Inception 2025-09-16

$26.23−0.13 (−0.47%)

As of Sep 23, 2026, 11:27 AM EDT

History starts Sep 18, 2025.
Intraday session: down, 3 prints from 26.36 to 26.23. Range 26.23 to 26.36. Use the arrow keys to read each point.$26.25$26.30$26.3510 AM12 PM2 PM4 PM
Expense ratio
0.69%
Fund size
$33M
1Y return
+9.6%
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$26.10
52W range
low $24.68high $26.32

The ETF.net MHY Grade

D

39/ 100

Rank 12 of 13 in International High Yield Bond⁠

Confidence High

Six-pillar profile for MHY. Scores out of 100: Cost 2, Risk 80, Mission 62, Tradability 52, Holdings 30, Durability 25. Strongest: Risk (80). Weakest: Cost (2). Leans toward Risk.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 39 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.
    FScore 2
    Category rank13/13 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    BScore 62
    Category rank9/11 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 80
    Category rank2/13 · top 15%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 52
    Category rank6/13 · top 46%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 30
    Category rank12/13 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 25
    Category rank12/13 · bottom quartile

Graded as of Sep 22, 2026

Our read on MHY

ETF.net Research

DMan Group ran institutional credit for decades before it ever printed a ticker. MHY is the high yield entry in its first ETF launch: an actively run, global junk bond book from Man's own credit desk.

Stated mandate

The Fund seeks current income as its primary objective and capital growth as a secondary objective.

Why people hold it

  1. 01Active from the ground up: at least 80% of net assets in high yield bonds, run by Man's global high yield credit team, with current income the stated first objective and capital growth second.man.com
  2. 02Wide latitude by design. The prospectus permits up to 30% of net assets in bonds rated below B3 by Moody's or below B- by S&P/Fitch, the deep end of the credit market.man.com
  3. 03One line on the fee table: a 0.69% management fee, no 12b-1 fee, no separate other expenses. Income is distributed quarterly.sec.gov

Worth knowing

  1. 01That 0.69% sits well above the high yield category median near 0.40%, and index heavyweights such as SCYB, SPHY and USHY charge single-digit basis points for broad exposure.
  2. 02It listed in September 2025, so the live record is short. As a newer, smaller fund it can trade with wider spreads than the category's index giants.
  3. 03Global mandate plus that below-B3 allowance means credit and currency exposure a plain US high yield index fund does not carry.man.com

MHY Holdings

As of Sep 20, 2026, 9:03 AM
Asset class
Other
Holdings
—
Top-10 weight
36%
Largest holding
GAINWELL ACQUISITION 08/19/31 Term Loan4.6%

Geography

  • United States82.92%
  • Norway15.31%
  • Sweden1.77%
The fund’s holdings, weight-ordered — page 1 of 6.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—GAINWELL ACQUISITION 08/19/31 Term Loan4.59%1,500,000$2M2
002—ARCHES BUYE 07/28/31 Term Loan4.54%1,500,000$1M1
003—LOAN TEAM SERVICES HOLDING IN 01/31/33 TERM LOAN4.26%1,400,000$1M2
004—CERDIA FINANZ GMBH 9.375 10/3/20314.07%1,475,000$1M2
005—EUROPEAN ENTERTAIN GROUP FRN 9/29/20303.88%1,300,000$1M2
006—FUTURE PLC 6.75 7/10/20303.52%910,000$1M2
007—STAPLES INC 10.75 9/1/20292.92%983,000$963K2
008—Sabre GLB 07/30/29 Term Loan2.91%1,000,000$958K1
009—Paradigm P 04/16/32 Term Loan2.85%997,487$939K1
010—RR DONNELLEY & SONS CO 11 6/1/20312.55%900,000$840K1
011—Cash and Net Current Assets2.31%0$761K4
012—NATIONAL MENTOR HOLDINGS 10.5 12/15/20302.25%700,000$742K2
013—1261229 B.C. (Bausch He 10/08/30 Term Loan2.12%698,237$698K1
014—EVOCA SPA FRN 4/9/20292.11%677,000$695K1
015—EMERIA SASU 7.75 3/31/20282.09%775,000$689K3

Showing 1–15 of 77 holdings

MHY Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

MHY$10,963
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. MHY $10,963. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

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.

Trailing total return for MHY. Periods over one year show the average yearly return.
PeriodMHY
Year to date+8.1%
1 month+1.4%
3 months+3.8%
1 year+9.6%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MHY
YearReturn barMHY
2026 YTD+8.1%
2025+1.7%

History from Sep 18, 2025

MHY in the news

ETF.net Research hasn’t filed on MHY yet — coverage lands here as it’s written.

MHY Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.43 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 3 payments from 2025 to 2026 YTD. Dec 16, 2025 $0.85; Mar 25, 2026 $0.07; Jun 24, 2026 $0.43. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 24, 2026Jun 30, 2026$0.43
Mar 25, 2026Mar 31, 2026$0.07
Dec 16, 2025Dec 31, 2025$0.85

MHY Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
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.

Return above 3-month US Treasury bills per unit of volatility.
—
No data available
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.

The largest fall from a peak to the low that followed.
−1.6%
12 months · trough Mar 2026
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.

How strongly the fund’s returns move with its asset-class index.
0.16
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MHY Cost

Expense ratio0.69%
  • The middle half of International High Yield Bond funds
  • Median 0.46%

Every other International High Yield Bond fund charges less.

MHY costs $69.00 a year on $10,000. The median International High Yield Bond fund costs $46.00.