ETF Evaluator:
iShares High Yield Systematic Bond ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in High Yield Bond Over the Last Year
| 7.6% | Fidelity Sustainable High Yield ETF (FSYD) |
| 7.4% | Horizon Flexible Income ETF (FLXN) |
| 6.7% | iShares Interest Rate Hdg Hi Yld Bd ETF (HYGH) |
| 6.6% | Fidelity Enhanced High Yield ETF (FDHY) |
| 6.3% | Harbor Ares Systematic High-Yield ETF (SIHY) |
Risk
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Risk
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ETF Details
iShares High Yield Systematic Bond ETF Overview
iShares High Yield Systematic Bond ETF (HYDB) is a passively managed Taxable Bond High Yield Bond exchange-traded fund (ETF). iShares launched the ETF in 2017.
The investment seeks to track the investment results of the BlackRock High Yield Systematic Bond Index composed of U.S. dollar-denominated, high yield corporate bonds.
The fund will invest at least 80% of its assets in the component securities of the index, and the fund will invest at least 90% of its assets in fixed income securities of the types included in the underlying index that BFA believes will help the fund track the index.
About iShares High Yield Systematic Bond ETF (HYDB)
There are 3 members of the management team with an average tenure of 6.74 years: James Mauro (2017), Scott Radell (2017) and Jeff Rosenberg (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Universal TR USD index with a weighting of 100% and BlackRock HY Systematic Bond TR USD index with a weighting of 100%. iShares High Yield Systematic Bond ETF has 261 securities in its portfolio. The top 10 holdings constitute 7.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
iShares High Yield Systematic Bond ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. iShares High Yield Systematic Bond ETF has 14.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.9% (85.8% domestic bond, 14.2% foreign bond and 0.0% convertible bond). iShares High Yield Systematic Bond ETF has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $1 billion average for the High Yield Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
HYDB Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The iShares High Yield Systematic Bond ETF expense ratio is below average compared to funds in the High Yield Bond category. iShares High Yield Systematic Bond ETF has an expense ratio of 0.35%, which is 12% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. iShares High Yield Systematic Bond ETF has a portfolio turnover rate of 93%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 69% for the High Yield Bond category.
Recently, in the month of July 2026, iShares High Yield Systematic Bond ETF returned -0.4%, which earned it a grade of D, as the High Yield Bond category had an average return of -0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
iShares High Yield Systematic Bond ETF has a trailing yield of 7.01%, which is above the 6.77% category average.
The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
iShares High Yield Systematic Bond ETF Grades
Year to date, the ETF has returned 1.2%, 0.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 4.9% over the past year (grade of D), 8.3% over the past three years (grade of B) and 4.5% per year over the past five years (grade of B).
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HYDB Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| HYDB Return (NAV) | -0.4% | 0.2% | 4.9% | 8.3% | 4.5% | na |
| HYDB Return (Price) | -0.3% | 0.2% | 4.9% | 8.2% | 4.4% | na |
| NAV +/- Price Return | -0.098% | 0.033% | -0.032% | 0.084% | 0.035% | na |
| High Yield Bond Avg | -0.2% | 0.5% | 5.0% | 7.8% | 3.8% | 5.0% |
| HYDB Grade (NAV) | D | F | D | B | B | na |
| +/- Category (NAV) | -0.1% | -0.3% | -0.1% | 0.5% | 0.7% | na |
| HYDB Tax-Cost Ratio | na | na | 2.8% | 2.8% | 2.7% | na |
HYDB Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HYDB Return (NAV) | 1.2% | 8.1% | 8.9% | 14.8% | -10.2% | 5.3% | 7.5% | 15.9% | -2.9% | na | na |
| HYDB Return (Price) | 1.3% | 8.1% | 9.1% | 14.0% | -10.0% | 5.1% | 7.4% | 16.1% | -3.2% | na | na |
| NAV +/- Price Ret | 0.075% | 0.002% | 0.018% | -0.052% | -0.019% | -0.026% | -0.021% | 1.3% | 10.4% | na | na |
| High Yield Bond Avg | 1.7% | 8.4% | 7.5% | 12.4% | -10.1% | 4.2% | 6.1% | 13.4% | -2.3% | 7.1% | 13.0% |
| HYDB Grade (NAV) | F | D | A | A | B | B | B | A | D | na | na |
| +/- Category | -0.4% | -0.3% | 1.4% | 2.3% | -0.1% | 1.0% | 1.4% | 2.5% | -0.6% | na | na |
| Risk Measures | |
| Beta: | 0.65 |
| R-Squared: | 67% |
| Standard Deviation: | 4.5% |
| Category Risk Index: | 1.05 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.37 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 7.0% |
| Total Assets: | $ 1,597 Mil |
| Share Class Assets: | $ 1,597 Mil |
| Turnover: | 93.0% |
| Expense Ratio: | 0.35% |
| Index Fund: | Yes |
| Index Tracked: | Bloomberg US Universal TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 9.1 years | |||
| Average Tenure: 6.7 years | |||
| Managers (Year): Mauro James (2017), Radell Scott (2017), Rosenberg Jeff (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 261 |
| % in Top 10 Holdings: | 7.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 14.2% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 85.8% |
| Foreign Bond: | 14.2% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | iShares |
| Phone Number: | 800-474-2737 |
| Website: | au.ishares.com |
| Inception Date: | July 11, 2017 |
Expenses and Fees
| Expense Ratio (%): | 0.35% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.40% |
