CGHY vs USHY

CGHYBCapital Group High Yield Bond ETF

USHYAiShares Broad USD High Yield Corporate Bond ETF

In short

CGHY Capital Group's swing at high yield: an actively managed junk-bond fund with no index to follow, priced at 0.39% in a corner of the market where index rivals charge pennies.

USHY The wide-angle lens on junk bonds: about 1,900 US dollar high yield corporate issues for 0.08% a year, a fifth of what the typical fund in its category charges. Broad, cheap, heavily traded, and it pays monthly.

Stated mandate

CGHY The fund seeks a high level of current income, with capital appreciation as a secondary objective.

USHY The fund seeks to track an index of U.S. dollar-denominated high yield corporate bonds.

Why people hold it

• CGHY Actively managed with no benchmark to replicate, so the credit team picks which issuers to own rather than buying whatever the index says.capitalgroup.com
• 0.39% expense ratio, just under the typical high-yield ETF's 0.40%. Rare for active management to price at the category median.
• Pays monthly, which suits the current-income job it was built for.
• The portfolio lines up closely with its stated high-yield mandate, and the fund sits in the upper half of a crowded field of 90-plus junk-bond ETFs.

• USHY Charges 0.08% a year while the median high yield fund in its cohort runs 0.40%. Cheap rent on an expensive-to-run corner of the bond market.
• Holds about 1,900 bonds against the ICE BofA US High Yield Constrained Index: the broad market, not a curated slice of the most liquid names.ishares.com
• A multi-billion-dollar fund and one of the more actively traded in high yield, which tends to keep bid-ask spreads thin even on busy days.
• Pays monthly and has tracked its index tightly since its 2017 launch, one of the closer index matches in its peer group.

Worth knowing

• CGHY Index rivals are far cheaper: SCYB at 0.03% and SPHY at 0.05%. Active stock-picking in credit has to earn back that gap every year.
• Launched in 2025, so there is no long record of how these managers navigate a full credit cycle inside this wrapper.
• High yield means below-investment-grade credit, where issuer downgrades and default worries drive prices more than interest rates do.capitalgroup.com

• USHY High yield means below-investment-grade borrowers. When credit gets stressed this asset class drops with stocks instead of cushioning them.
• Cheaper tickets sit on the same shelf: SCYB at 0.03% and SPHY at 0.05%.
• This is a fund, not a bond ladder. No maturity date hands your principal back; the basket rolls on indefinitely.

Full CGHY profile⁠

Full USHY profile⁠