HYBX vs HYG
TCW High Yield Bond ETF vs iShares iBoxx $ High Yield Corporate Bond ETF
Which is better, HYBX or HYG?
Each has led over a different period.
HYG has a lower expense ratio. HYBX led over 1Y, HYG over the full window. The two have moved almost in lockstep, correlation 0.91.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HYBX | HYG |
|---|---|---|
| Expense Ratio | 0.50% | 0.49%Best |
| AUM | - | $17.6B |
| Dividend Yield | 8.24% | 6.14% |
| Holdings | 253 | 2,656 |
| YTD Return | +0.48%Best | -0.47% |
| 1Y Return | +2.01%Best | +1.14% |
| 3Y Return (annualized) | - | +8.05% |
| 5Y Return (annualized) | - | +3.12% |
| Volatility (annualized) | 3.3%Best | 3.6% |
| Max Drawdown | -3.9%Best | -4.6% |
| $10,000 over 1.9 years | $10,742 | $10,817Best |
| Fund Family | TCW ETFs | iShares by BlackRock (US) |
| Category | Fixed Income | Fixed Income |
| Style | High Yield Bond | High Yield Bond |
| Inception | Feb 1, 1989 | Apr 4, 2007 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.9 years row, are measured over the window both funds cover: Nov 18, 2024 to Oct 14, 2026 (1.9 years).
HYBX vs HYG growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.9 years both funds cover.
HYBX vs HYG Performance
TCW High Yield Bond ETF (HYBX) is an ETF from TCW ETFs and iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is an ETF from iShares by BlackRock (US). Over the past year HYBX returned +2.01% while HYG returned +1.14%. Year to date, HYBX is up 0.48% versus a loss of 0.47% for HYG.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HYG has been the more volatile fund, with annualized monthly volatility of 3.6% compared with 3.3% for HYBX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -3.9% for HYBX and -4.6% for HYG. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
HYBX charges 0.50% per year while HYG charges 0.49%. On a $10,000 position that is $50 vs $49 annually, a gap of $1 per year that compounds over a long holding period. On income, HYBX currently yields 8.24% against 6.14% for HYG.
Holdings Overlap
We hold position weights for 148 holdings in HYBX and 976 in HYG, totalling 67.6% and 71.2% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 103 positions appear in both.
103 positions in common, counted across the 148 positions we hold weights for in HYBX and 976 in HYG, against full books of 253 and 2,656.
Top Shared Holdings
| Stock | Weight in HYBX | Weight in HYG | Difference |
|---|---|---|---|
| BHCCN 10 04/15/32 141261229 Bc Ltd 144A 10% Apr 15, 2032 | 1.32% | 0.59% | 0.73% |
| SATS 10.75 11/30/29 | 1.00% | 0.40% | 0.60% |
| TIBX 8.25 06/30/32 1Cloud Software Grp Inc Sr Secured 144A 06/32 8.25 | 1.18% | 0.14% | 1.04% |
| AAL 5.75 04/20/29 14Aadvantage Loyalty Ip Ltd 144A 5.75% Apr 20, 2029 | 0.85% | 0.23% | 0.62% |
| GFLCN 4 08/01/28 144Gfl Environmental Inc 4% 08/01/2028 | 0.98% | 0.07% | 0.91% |
| TDG 6.375 05/31/33 1Transdigm Inc 6.375% 05/31/33 | 0.78% | 0.22% | 0.56% |
| LVLT 6.875 06/30/33 | 0.82% | 0.16% | 0.66% |
| FCFS 6.875 03/01/32 | 0.92% | 0.05% | 0.87% |
| QUIKHO 6.375 03/01/3Quikrete Holdi 6.375 3/32 | 0.61% | 0.33% | 0.28% |
| SIRI 4.125 07/01/30 | 0.81% | 0.11% | 0.70% |
You are not choosing between two funds in isolation.
Whichever of HYBX and HYG you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HYBX or HYG?
HYBX has an expense ratio of 0.50% while HYG charges 0.49%. HYG is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, HYBX or HYG?
Over the past year HYBX returned +2.01% vs +1.14% for HYG, so HYBX leads on 1-year performance. Over the longest common window we track (2 years), HYBX annualized +3.84% vs +4.22% for HYG. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HYBX or HYG?
HYG has been the more volatile fund at 3.6% annualized versus 3.3% for HYBX. Worst drawdown: HYBX -3.9% vs HYG -4.6%.
Should I hold both HYBX and HYG?
HYBX and HYG have a monthly-return correlation of 0.91, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, HYBX or HYG?
HYBX yields 8.24% while HYG yields 6.14%, so HYBX currently pays the higher dividend yield.
Is HYG better than HYBX?
HYG has a lower expense ratio. HYBX led over 1Y, HYG over the full window. The two have moved almost in lockstep, correlation 0.91. Which one suits a particular account depends on what it is for. This is information, not a recommendation.