# HYG ETF: fees, returns, drawdowns and holdings

> What HYG holds, its 0.49% yearly fee, returns by year, its worst drop, and which Tactfolio strategies hold it. Updated daily.

iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is an exchange-traded fund (ETF) run by iShares (BlackRock). This fund holds bonds from companies with lower credit ratings, often called high yield or junk bonds. It charges 0.49% a year. From April 2007 to October 2026 it returned about 4.8% a year, and its worst drop was −34.3%.

Written by [the Tactfolio research team](https://tactfolio.com/about/editorial-policy). Fund facts checked October 16, 2026. Prices through October 16, 2026.

## Key points

- Expense ratio: 0.49% a year (about $49 on $10,000).
- Started trading on April 4, 2007.
- Last close: $76.86 on October 16, 2026.
- Return over the last year: 1.3%.
- Worst drop since 2007: −34.3%.
- 6 Tactfolio classic strategies hold it.

## How has HYG done since 2007?

From April 2007 to October 2026, HYG returned about 4.8% a year. The S&P 500 returned about 10.9% a year over the same dates. Say you put in $10,000 at the start. It would have been worth about $24,726 at the end, with every dividend reinvested.

| Period | HYG | S&P 500 (SPY) |
| --- | --- | --- |
| 1 month | −1.6% | 1.5% |
| 3 months | −2.3% | 1.9% |
| 6 months | −1.5% | 9.3% |
| Year to date | −0.4% | 12.8% |
| 1 year | 1.3% | 16.8% |
| 3 years, per year | 8.1% | 22.0% |
| 5 years, per year | 3.2% | 12.8% |
| 10 years, per year | 4.2% | 15.4% |
| Since 2007, per year | 4.8% | 10.9% |

Periods longer than a year show the return per year (CAGR). Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

## HYG returns by month and year

HYG rose in 150 of its 235 months (64%). Its best month was December 2008, at 16.8%. Its worst was October 2008, at −11.5%.

| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Full year |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2026 (part) | 0.6% | 0.0% | −0.9% | 1.5% | 0.4% | 0.1% | −0.1% | 0.9% | −2.7% | 0.0% |  |  | −0.4% |
| 2025 | 1.4% | 1.0% | −1.1% | 0.1% | 1.8% | 1.8% | 0.1% | 1.1% | 0.9% | 0.0% | 0.8% | 0.5% | 8.6% |
| 2024 | 0.1% | 0.3% | 1.1% | −1.4% | 1.6% | 0.5% | 2.4% | 1.6% | 1.7% | −1.0% | 1.6% | −0.8% | 8.0% |
| 2023 | 3.7% | −1.9% | 2.0% | 0.2% | −1.2% | 1.8% | 1.1% | 0.2% | −1.6% | −1.0% | 4.9% | 3.2% | 11.5% |
| 2022 | −2.6% | −0.9% | −1.3% | −4.2% | 1.6% | −7.0% | 6.7% | −4.3% | −3.7% | 3.4% | 3.4% | −1.8% | −11.0% |
| 2021 | −0.4% | −0.2% | 1.2% | 0.6% | 0.0% | 1.3% | 0.1% | 0.6% | −0.4% | −0.3% | −1.2% | 2.3% | 3.8% |
| 2020 | −0.5% | −1.3% | −10.0% | 4.9% | 2.9% | −0.6% | 5.1% | 0.0% | −0.9% | 0.4% | 3.4% | 2.0% | 4.5% |
| 2019 | 4.9% | 1.2% | 1.3% | 1.0% | −1.9% | 3.1% | 0.2% | 0.7% | 0.4% | 0.0% | 0.6% | 1.9% | 14.1% |
| 2018 | 0.1% | −0.9% | −0.2% | 0.5% | 0.1% | 0.1% | 1.7% | 0.7% | 0.5% | −2.0% | −0.4% | −2.1% | −2.0% |
| 2017 | 0.9% | 1.5% | −0.1% | 0.8% | 1.0% | 0.1% | 1.0% | 0.1% | 0.6% | 0.1% | −0.4% | 0.3% | 6.1% |
| 2016 | −1.6% | 1.5% | 2.5% | 3.1% | 0.2% | 1.8% | 1.3% | 2.0% | 1.1% | −1.0% | 0.0% | 1.8% | 13.4% |
| 2015 | 0.7% | 2.2% | −0.9% | 0.9% | 0.4% | −1.9% | −0.5% | −1.5% | −3.0% | 3.2% | −2.5% | −2.0% | −5.0% |
| 2014 | 0.4% | 2.3% | −0.1% | 0.4% | 1.2% | 0.6% | −2.4% | 2.4% | −2.0% | 1.1% | −1.1% | −0.8% | 1.9% |
| 2013 | 0.3% | 0.9% | 0.9% | 2.1% | −2.6% | −1.7% | 2.9% | −1.3% | 0.8% | 2.5% | 0.5% | 0.4% | 5.8% |
| 2012 | 1.5% | 2.1% | −0.9% | 1.1% | −3.2% | 4.7% | 1.0% | 1.2% | 0.5% | 0.8% | 0.5% | 1.4% | 11.1% |
| 2011 | 1.7% | 1.4% | 0.0% | 1.6% | 0.1% | −0.6% | 0.4% | −2.7% | −5.3% | 8.5% | −2.4% | 4.5% | 6.8% |
| 2010 | −1.8% | 1.9% | 2.1% | 1.9% | −4.7% | 1.1% | 5.1% | −1.0% | 3.7% | 1.8% | −1.3% | 2.8% | 11.9% |
| 2009 | −1.0% | −9.7% | 1.9% | 13.9% | 2.9% | 3.4% | 6.9% | −1.7% | 5.8% | −0.5% | 1.7% | 3.7% | 28.5% |
| 2008 | −1.8% | −1.9% | 0.9% | 3.4% | −0.5% | −3.7% | 0.6% | −0.9% | −10.7% | −11.5% | −7.1% | 16.8% | −17.5% |
| 2007 (part) |  |  |  | 1.2% | 0.4% | −3.1% | −3.9% | 5.2% | 2.9% | 0.5% | −1.1% | −0.1% | 1.6% |

Each month runs from the last close of the month before. The first month counts from the first close.

## How risky is HYG compared with the S&P 500?

Measured from October 2021 to October 2026, on the days both traded.

- **Beta 0.33.** When the S&P 500 moved 1% in a day, HYG tended to move about 0.33%.
- **Correlation 0.75.** HYG moved with the S&P 500 some of the time.
- **Up and down months.** In months the S&P 500 rose, HYG rose 37% as much on average. In months it fell, HYG fell 47% as much.

| Measure | HYG | S&P 500 (SPY) |
| --- | --- | --- |
| Return per year | 3.2% | 12.8% |
| Volatility | 7.5% | 17.1% |
| Worst drop | −15.8% | −24.5% |
| Sharpe ratio | 0.45 | 0.79 |
| Sortino ratio | 0.66 | 1.15 |
| Calmar ratio | 0.20 | 0.52 |

Volatility is how much the price swings in a year. The Sharpe ratio is return per unit of volatility, the Sortino ratio counts only the falls, and the Calmar ratio is the return per year over the worst drop. Higher ratios mean more return for the risk taken.

## Is HYG above its 200-day average?

HYG closed 1.3% below its 200-day average on October 16, 2026. A rule that holds HYG only above that average would be out of it today.

- Its 50-day average is 0.3% above its 200-day average.
- It closed 2.9% below its highest close of the last 52 weeks.

A moving average is the average close over the last so many days. Trend rules such as [the 10-month moving average strategy](https://tactfolio.com/strategies/faber-10-month-moving-average.md) hold a fund only while it is above one. You can [build that rule for HYG](https://tactfolio.com/builder) and backtest it in a minute.

## What was HYG's worst drop?

A drawdown is how far a fund falls from its last high point. HYG's worst fall was −34.3%, from September 19, 2007 to November 20, 2008. It got back to that high on December 2, 2009. On October 16, 2026 it was 2.9% below its highest close.

| Drop | Started | Bottom | Back to the high | Fall took | Recovery took |
| --- | --- | --- | --- | --- | --- |
| −34.3% | Sep 19, 2007 | Nov 20, 2008 | Dec 2, 2009 | 14 months | 12 months |
| −22.0% | Feb 20, 2020 | Mar 23, 2020 | Nov 4, 2020 | 32 days | 7 months |
| −15.8% | Dec 27, 2021 | Sep 27, 2022 | Mar 7, 2024 | 9 months | 17 months |
| −13.4% | Apr 15, 2015 | Feb 11, 2016 | Jul 8, 2016 | 10 months | 5 months |
| −10.1% | Jul 22, 2011 | Oct 4, 2011 | Oct 24, 2011 | 2 months | 20 days |

Big drops are normal for some funds. They matter because selling during a drop locks in the loss.

## What does HYG hold?

This fund holds bonds from companies with lower credit ratings, often called high yield or junk bonds. These bonds pay more interest because there is a bigger chance a company may not pay back. The fund's price can drop when the economy is weak.

It tracks the iBoxx USD Liquid High Yield Index. It had 1,334 holdings as of October 15, 2026, according to iShares (BlackRock).

| Fact | HYG |
| --- | --- |
| Full name | iShares iBoxx $ High Yield Corporate Bond ETF |
| Issuer | iShares (BlackRock) |
| Expense ratio | 0.49% a year |
| Started trading | April 4, 2007 |
| Tracks | iBoxx USD Liquid High Yield Index |
| Type | US bonds, ETF |
| Holdings | 1,334 holdings as of October 15, 2026 |
| Facts checked | October 16, 2026 on the [iShares (BlackRock) fund page](https://www.ishares.com/us/products/239565/ishares-iboxx-high-yield-corporate-bond-etf) |

## What is the HYG expense ratio?

HYG charges 0.49% a year. An expense ratio is the yearly fee a fund takes to run itself. On $10,000, a 0.49% fee comes to about $49 a year. Of the 162 ETFs on Tactfolio, 10% charge more.

You never get a bill for it. The fund takes the fee out of its own value a little each day.

## Which Tactfolio strategies hold HYG?

6 classic strategies hold HYG at least some of the time. Each is a set of written rules you can open, test and copy.

- [Bold Asset Allocation (BAA)](https://tactfolio.com/strategies/bold-asset-allocation.md), by Wouter Keller, 2022
- [Defensive Asset Allocation (DAA)](https://tactfolio.com/strategies/defensive-asset-allocation.md), by Wouter Keller and JW Keuning, 2018
- [Protective Asset Allocation (PAA)](https://tactfolio.com/strategies/protective-asset-allocation.md), by Wouter Keller and JW Keuning, 2016
- [Composite Dual Momentum](https://tactfolio.com/strategies/composite-dual-momentum.md), by Gary Antonacci, 2012
- [Vigilant Asset Allocation G12 (VAA-G12)](https://tactfolio.com/strategies/vigilant-asset-allocation-g12.md), by Wouter Keller and JW Keuning, 2017
- [Bond UI1 (Paul Novell’s unemployment bond strategy)](https://tactfolio.com/strategies/novell-bond-ui1.md), by Paul Novell, 2019

## How does HYG compare with similar ETFs?

Funds that can stand in for HYG:

- [USHY](https://tactfolio.com/etf/USHY.md): iShares Broad USD High Yield Corporate Bond ETF, 0.08% a year
- [JNK](https://tactfolio.com/etf/JNK.md): State Street SPDR Bloomberg High Yield Bond ETF, 0.4% a year
- [VCIT](https://tactfolio.com/etf/VCIT.md): Vanguard Intermediate-Term Corporate Bond ETF, 0.03% a year
- [LQD](https://tactfolio.com/etf/LQD.md): iShares iBoxx $ Investment Grade Corporate Bond ETF, 0.14% a year

See [all 4 HYG alternatives](https://tactfolio.com/alternatives/HYG.md), compared on the same dates as HYG.

## Test HYG in your own rules

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the [builder](https://tactfolio.com/builder), add HYG, and see how a rule such as "hold it only above its 200-day average" would have done. Strategies run on daily prices and hold US stocks and ETFs only.

## The details

Prices come from Tactfolio's stored daily prices for HYG and SPY. Each close is adjusted for splits, and dividends are reinvested on the day the fund pays them out. CAGR is the steady yearly return that turns the starting value into the ending value. Volatility is the yearly standard deviation of daily returns. Beta and correlation compare daily returns with the S&P 500 over the same dates.

Fund facts come from iShares (BlackRock). We checked them on October 16, 2026. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) and [how to read drawdown and CAGR](https://tactfolio.com/docs/concepts/reading-a-backtest.md) for more on these measures.

## Research and test it

- [Portfolio rebalancing](https://tactfolio.com/learn/portfolio-rebalancing): What portfolio rebalancing is, why a 60/40 mix drifts, calendar vs threshold methods, and how taxes and costs fit in.
- [Risk parity](https://tactfolio.com/learn/risk-parity): Risk parity balances risk instead of dollars. See a simple stock and bond example, why funds use leverage, and what went wrong in 2022.
- [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side.
- [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples.
- [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share.
- [Backtesting](https://tactfolio.com/backtesting): Free backtesting software for stocks, ETFs, and crypto perps.

## Common questions

### What is the expense ratio of HYG?

HYG charges 0.49% a year, according to iShares (BlackRock) as of October 16, 2026. That is about $49 a year for every $10,000 you hold.

### When did HYG start trading?

HYG started trading on April 4, 2007. It is run by iShares (BlackRock).

### What does HYG track?

HYG tracks the iBoxx USD Liquid High Yield Index. This fund holds bonds from companies with lower credit ratings, often called high yield or junk bonds.

### How much has HYG returned per year?

From April 2007 to October 2026, HYG returned about 4.8% a year with dividends reinvested. Its worst drop was −34.3%. Past returns do not tell you what it will do next.

### Is HYG above its 200-day moving average?

On October 16, 2026, HYG closed 1.3% below its 200-day moving average. This page updates after each US market close.

### Which strategies use HYG?

6 of Tactfolio's classic strategies hold HYG, including Bold Asset Allocation (BAA), Defensive Asset Allocation (DAA), Protective Asset Allocation (PAA).

## Sources

- [iShares (BlackRock): iShares iBoxx $ High Yield Corporate Bond ETF fund page](https://www.ishares.com/us/products/239565/ishares-iboxx-high-yield-corporate-bond-etf)

> Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in.