ProShares High Yield—Interest Rate Hedged (HYHG) Performance
HYHG total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +2.7% since Dec 31, 2025
- 1 year
- +4.6% total return
- 5 years
- +6.5% a year
- 10 years
- +5.4% a year
- Since first price
- +4.1% a year since 2013
HYHG trailing returns vs SPY, QQQ, AGG
| Period | HYHG total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −2.0% | −2.6% | −1.0% | −5.0% | +0.9% |
| 3 months | −1.1% | −2.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.3% | −3.0% | +7.8% | +8.4% | −1.5% |
| YTD | +2.7% | −2.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +4.6% | −2.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +27.0%+8.3%/yr | +3.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +36.9%+6.5%/yr | −0.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +69.2%+5.4%/yr | −6.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionMay 23, 2013 | +70.9%+4.1%/yr | −21.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: HYHG vs SPY
From May 23, 2013: HYHG grew to $17,085, SPY to $57,727.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HYHG returns by calendar year
8 of 12 full years positive. Best 2016 (+15.9%), worst 2015 (−9.5%). 2026 is year to date.
HYHG annual returns table
| Year | HYHG | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +2.7% | −2.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +5.3% | −7.5% | +17.7% | +20.8% | +7.2% |
| 2024 | +11.4% | −3.2% | +24.9% | +25.6% | +1.3% |
| 2023 | +14.7% | −5.4% | +26.2% | +54.9% | +5.7% |
| 2022 | −1.7% | −9.2% | −18.2% | −32.6% | −13.0% |
| 2021 | +5.7% | −2.7% | +28.7% | +27.4% | −1.8% |
| 2020 | +0.2% | −25.7% | +18.3% | +48.6% | +7.5% |
| 2019 | +12.0% | −3.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −1.9% | −9.1% | −4.6% | −0.1% | +0.1% |
| 2017 | +3.8% | −4.0% | +21.7% | +32.7% | +3.6% |
| 2016 | +15.9% | −8.6% | +12.0% | +7.1% | +2.4% |
| 2015 | −9.5% | −14.6% | +1.2% | +9.4% | +0.5% |
| 2014 | −4.1% | −10.7% | +13.5% | +19.2% | +6.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
HYHG largest drawdowns
Now 2.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 15, 2020 | −25.7% | Mar 23, 2020 | Jan 7, 2021 | 2 months | 12 months |
| May 16, 2014 | −23.2% | Feb 11, 2016 | Mar 1, 2017 | 1.7 years | 2.8 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
HYHG risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2013 |
|---|---|---|---|---|
| Annualized return | +8.5% | +6.8% | +5.7% | +4.2% |
| Volatility (annualized) | 4.0% | 6.0% | 7.2% | 7.3% |
| Sharpe ratio | 1.00 | 0.54 | 0.49 | 0.36 |
| Sortino ratio | 1.49 | 0.81 | 0.67 | 0.51 |
| Best month | +2.8% | +4.9% | +5.1% | +5.1% |
| Worst month | −3.7% | −6.4% | −11.7% | −11.7% |
| Best 12 months | +14.5% | +16.4% | +21.1% | +21.9% |
| Worst 12 months | +2.8% | −3.8% | −11.4% | −14.2% |
| Positive months | 78% | 72% | 69% | 64% |
| Beta vs S&P 500 | 0.21 | 0.29 | 0.36 | — |
| Correlation with S&P 500 | 0.66 | 0.75 | 0.77 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
HYHG rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 150 | −14.2% | +4.7% | +21.9% | 76% |
| 3-year (a year) | 126 | −2.0% | +4.4% | +11.5% | 93% |
| 5-year (a year) | 102 | +0.1% | +3.8% | +9.1% | 100% |
| 10-year (a year) | 42 | +2.4% | +4.6% | +6.9% | 100% |
Every holding period starting at a month-end since 2013. Returns for 3 years and longer are annualized.
HYHG performance overview
ProShares High Yield—Interest Rate Hedged (HYHG) returned +4.6% over the past year and +5.4% a year over ten years, with distributions reinvested. Since its first recorded price in 2013 it has returned +4.1% a year, turning $10,000 into about $17,085. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −25.7%, from Jan 15, 2020 to Mar 23, 2020, and it took 10 months to get back to the old high. HYHG finished 8 of its 12 full calendar years with a gain; the best year was 2016 (+15.9%) and the worst 2015 (−9.5%). Volatility has been 7.3% a year.
Related: HYHG chart, HYHG dividends. See the HYHG overview for the latest quote and fund facts.
HYHG performance FAQ
What is the HYHG return over the past year?
HYHG returned +4.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 2.2%.
What is the average annual return of HYHG?
HYHG has returned +6.5% a year over 5 years, +5.4% a year over 10 years, +4.1% a year since May 23, 2013 (total return, distributions reinvested).
How much would $10,000 invested in HYHG be worth?
$10,000 invested in HYHG at its first recorded close on May 23, 2013 would be worth about $17,085 on October 23, 2026 with distributions reinvested.
What was the worst year for HYHG?
The worst calendar year was 2015, with a total return of −9.5%. The best was 2016 at +15.9%.
What is the biggest drawdown of HYHG?
The largest peak-to-trough decline was −25.7% between January 15, 2020 and March 23, 2020. It recovered to the old high on January 7, 2021, 10 months after the bottom.
How volatile is HYHG?
Over the past 3 years HYHG had an annualized volatility of 4.0% and a Sharpe ratio of 1.00 (excess return over 1–3 month T-bills per unit of risk).