JPHY vs USHY
JPMorgan Active High Yield ETF vs iShares Broad USD High Yield Corporate Bond ETF
Which is better, JPHY or USHY?
JPHY has been ahead.
USHY has a lower expense ratio. JPHY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92.
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 | JPHY | USHY |
|---|---|---|
| Expense Ratio | 0.45% | 0.08%Best |
| AUM | $2.2B | $25.1B |
| Dividend Yield | 6.58% | 7.12% |
| Holdings | 1,098 | 3,787 |
| YTD Return | +0.66%Best | -5.10% |
| 1Y Return | +2.32%Best | -4.07% |
| 3Y Return (annualized) | - | +6.37% |
| 5Y Return (annualized) | - | +2.35% |
| Volatility (annualized) | 2.9%Best | 3.9% |
| Max Drawdown | -2.5%Best | -5.8% |
| $10,000 over 1.3 years | $10,477Best | $9,848 |
| Fund Family | J.P. Morgan Asset Management | iShares by BlackRock (US) |
| Category | Fixed Income | Fixed Income |
| Style | High Yield Bond | High Yield Bond |
| Inception | Jun 24, 2025 | Oct 25, 2017 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: Jun 25, 2025 to Oct 14, 2026 (1.3 years).
JPHY vs USHY 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 1.3 years both funds cover.
JPHY vs USHY Performance
JPMorgan Active High Yield ETF (JPHY) is an ETF from J.P. Morgan Asset Management and iShares Broad USD High Yield Corporate Bond ETF (USHY) is an ETF from iShares by BlackRock (US). Over the past year JPHY returned +2.32% while USHY returned -4.07%. Year to date, JPHY is up 0.66% versus a loss of 5.10% for USHY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
USHY has been the more volatile fund, with annualized monthly volatility of 3.9% compared with 2.9% for JPHY. 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 -2.5% for JPHY and -5.8% for USHY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JPHY charges 0.45% per year while USHY charges 0.08%. On a $10,000 position that is $45 vs $8 annually, a gap of $37 per year that compounds over a long holding period. On income, JPHY currently yields 6.58% against 7.12% for USHY.
Holdings Overlap
We hold position weights for 387 holdings in JPHY and 1,445 in USHY, totalling 79.5% and 74.4% 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, 349 positions appear in both.
349 positions in common, counted across the 387 positions we hold weights for in JPHY and 1,445 in USHY, against full books of 1,098 and 3,787.
Top Shared Holdings
| Stock | Weight in JPHY | Weight in USHY | Difference |
|---|---|---|---|
| CHTR 4.75 02/01/32 1Cco Holdings Llc / Cco Holdings Capital Corp 2032-02-01 | 1.92% | 0.07% | 1.85% |
| BHCCN 10 04/15/32 141261229 Bc Ltd 144A 10% Apr 15, 2032 | 0.64% | 0.50% | 0.14% |
| VENLNG 9.875 02/01/3Venture Global 9.875% 02/01/32 | 0.79% | 0.16% | 0.63% |
| CHTR 4.75 03/01/30 1Cco Holdings Llc 4.75% 3/1/30 | 0.72% | 0.19% | 0.53% |
| EMECLI 6.625 12/15/3Emerald Debt Merger Sub Llc 144A 6.63% Dec 15, 2030 | 0.70% | 0.20% | 0.50% |
| AAL 5.75 04/20/29 14Aadvantage Loyalty Ip Ltd 144A 5.75% Apr 20, 2029 | 0.65% | 0.19% | 0.46% |
| THC 5.125 11/01/27Tenet Healthcare, 5.125% 1nov2027 | 0.68% | 0.08% | 0.60% |
| QUIKHO 6.375 03/01/3Quikrete Holdi 6.375 3/32 | 0.45% | 0.29% | 0.16% |
| SPLS 10.75 09/01/29 | 0.55% | 0.17% | 0.38% |
| SIRI 4 07/15/28 144ASirius Xm Radio Llc 4% | 0.56% | 0.13% | 0.43% |
You are not choosing between two funds in isolation.
Whichever of JPHY and USHY 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, JPHY or USHY?
JPHY has an expense ratio of 0.45% while USHY charges 0.08%. USHY is the cheaper option, by $37 a year on a $10,000 investment.
Which performed better, JPHY or USHY?
Over the past year JPHY returned +2.32% vs -4.07% for USHY, so JPHY leads on 1-year performance. Over the longest common window we track (1 years), JPHY annualized +3.65% vs -1.17% for USHY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JPHY or USHY?
USHY has been the more volatile fund at 3.9% annualized versus 2.9% for JPHY. Worst drawdown: JPHY -2.5% vs USHY -5.8%.
Should I hold both JPHY and USHY?
JPHY and USHY have a monthly-return correlation of 0.92, 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, JPHY or USHY?
JPHY yields 6.58% while USHY yields 7.12%, so USHY currently pays the higher dividend yield.
Is USHY better than JPHY?
USHY has a lower expense ratio. JPHY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. Which one suits a particular account depends on what it is for. This is information, not a recommendation.