HYLB vs MANI

HYLBAXtrackers USD High Yield Corporate Bond ETF

MANIDMan Active Income ETF

In short

HYLB Broad-market junk bonds at index-fund pricing: 0.05% a year, a fraction of what the typical high-yield bond ETF charges, spread across roughly 1,300 issues. Running since 2016, it pays monthly.

MANI An income-first bond fund that runs on a manager's credit calls, not an index. Launched in 2025 into a high yield aisle dominated by ultra-cheap trackers, it is the active alternative, and priced like one.

Stated mandate

HYLB The fund seeks to track, before fees and expenses, the Solactive USD High Yield Corporates Total Market Index. It uses a passive representative-sampling indexing approach.

MANI The Fund seeks current income, while capital growth is secondary.

Why people hold it

• HYLB 0.05% expense ratio puts it at the low end of the high-yield ETF field, matching SPHY and undercutting USHY's 0.08%. Fee drag matters most where yield is the whole point.
• Total-market mandate, not a filtered slice: roughly 1,300 bonds sampled from the Solactive USD High Yield Corporates Total Market Index.
• Tracking has been tight against its stated index, and it trades actively enough to keep spreads workable. One of the cleaner implementations in the high-yield group.
• Monthly distributions, with a live record going back to a 2016 launch (through the 2020 credit shock and the 2022 rate spike).

• MANI Actively run with a clear hierarchy: current income first, capital growth second. No index to shadow, so the manager can move around the credit market.
• Pays income quarterly, with the prospectus committing to distributions at least annually.
• Plain 1940 Act fund structure: ordinary 1099 tax reporting, no K-1 to wait on.
• Its price swings so far sit among the steadier in the high yield group, though that read comes from a short history.

Worth knowing

• HYLB This is the credit-risk end of the bond market. Below-investment-grade issuers default more often, and prices can fall hard when spreads widen.
• Representative sampling means it holds a subset of the index, not every bond, so results can drift slightly from the benchmark.
• Cheap, but not the floor: SCYB runs 0.03%. HYLB is also a mid-sized fund next to the largest names in the category.

• MANI The fee is 0.85% a year, roughly double the typical high yield ETF, and index heavyweights like SPHY, USHY and SCYB charge a small fraction of that.
• A 2025 launch that is still small and thinly traded, so bid-ask spreads can be wide and every order moves a bigger share of the day's volume.
• Nothing here is on autopilot. Results hang on the manager's credit selection, and the fund has not yet seen a full credit cycle.

Full HYLB profile⁠

Full MANI profile⁠