ETF Evaluator:
AB High Yield ETF ()
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(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) |
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ETF Details
AB High Yield ETF Overview
AB High Yield ETF (HYFI) is an actively managed Taxable Bond High Yield Bond exchange-traded fund (ETF). AllianceBernstein launched the ETF in 2016.
The investment seeks to maximize total return consistent with prudent investment management.
The fund invests, under normal circumstances, at least 80% of its net assets in fixed-income securities rated Ba1 or lower by Moody’s Investors Service (“Moody’s”), or BB+ or lower by S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”), or the equivalent by any nationally recognized statistical rating organization (“NRSRO”) (commonly known as “junk bonds”); unrated securities considered by the Adviser to be of comparable quality; and related derivatives.
About AB High Yield ETF (HYFI)
There are 3 members of the management team with an average tenure of 10.02 years: Gershon Distenfeld (2016), Robert Schwartz (2016) and William Smith (2016). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Corp Bond TR USD index with a weighting of 100% and Bloomberg US HY 2% Issuer Cap TR USD index with a weighting of 100%. AB High Yield ETF has 652 securities in its portfolio. The top 10 holdings constitute 14.2% 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.
AB High Yield ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. AB High Yield ETF has 18.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.2% There is 0.0% allocated to foreign stock, and 0.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.2% (79.6% domestic bond, 18.6% foreign bond and 0.0% convertible bond). AB High Yield ETF has 0.9% of the portfolio in cash.
Assets Under Management
The fund has $328 million in total assets, which is below 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.
HYFI 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 AB High Yield ETF expense ratio is average compared to funds in the High Yield Bond category. AB High Yield ETF has an expense ratio of 0.40%, which is the same as its category average, making the fund expense ratio grade a C. 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. AB High Yield ETF has a portfolio turnover rate of 83%, 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, AB High Yield ETF returned -0.2%, which earned it a grade of C, 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.
AB High Yield ETF has a trailing yield of 6.67%, which is below the 6.77% category average.
The fund normally distributes its income monthly and its capital gains annually.
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.
AB High Yield ETF Grades
Year to date, the ETF has returned 1.9%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 5.5% over the past year (grade of B), 8.3% over the past three years (grade of A) and 3.8% per year over the past five years (grade of C) and 5.6% per year over the past 10 years (grade of A).
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HYFI 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 |
|
| HYFI Return (NAV) | -0.2% | 0.5% | 5.5% | 8.3% | 3.8% | 5.6% |
| HYFI Return (Price) | -0.1% | 0.4% | 5.5% | 8.3% | 3.8% | 5.6% |
| NAV +/- Price Return | -0.078% | 0.158% | -0.039% | 0.009% | -0.032% | -0.016% |
| High Yield Bond Avg | -0.2% | 0.5% | 5.0% | 7.8% | 3.8% | 5.0% |
| HYFI Grade (NAV) | C | C | B | A | C | A |
| +/- Category (NAV) | 0.0% | -0.0% | 0.5% | 0.5% | 0.0% | 0.6% |
| HYFI Tax-Cost Ratio | na | na | 2.7% | 2.7% | 2.6% | 2.4% |
HYFI Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HYFI Return (NAV) | 1.9% | 8.9% | 7.7% | 13.0% | -11.7% | 6.5% | 8.8% | 14.9% | -2.4% | 6.2% | na |
| HYFI Return (Price) | 2.0% | 8.9% | 8.0% | 12.9% | -11.7% | 6.5% | 8.8% | 14.9% | -2.4% | 6.2% | na |
| NAV +/- Price Ret | 0.015% | 0.001% | 0.031% | -0.008% | 0.000% | 0.000% | 0.000% | 0.0% | 0.0% | 0.0% | 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% |
| HYFI Grade (NAV) | B | B | C | B | D | A | A | B | C | C | na |
| +/- Category | 0.3% | 0.5% | 0.2% | 0.6% | -1.6% | 2.2% | 2.7% | 1.5% | -0.1% | -0.9% | na |
| Risk Measures | |
| Beta: | 0.65 |
| R-Squared: | 69% |
| Standard Deviation: | 4.5% |
| Category Risk Index: | 1.03 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.36 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 6.7% |
| Total Assets: | $ 328 Mil |
| Share Class Assets: | $ 328 Mil |
| Turnover: | 83.0% |
| Expense Ratio: | 0.40% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Corp Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 10.0 years | |||
| Average Tenure: 10.0 years | |||
| Managers (Year): Distenfeld Gershon (2016), Schwartz Robert (2016), Smith William (2016) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 652 |
| % in Top 10 Holdings: | 14.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 18.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.2% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.5% |
| Domestic Bond: | 79.6% |
| Foreign Bond: | 18.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 0.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | AllianceBernstein |
| Phone Number: | 800-243-5994 |
| Website: | |
| Inception Date: | July 26, 2016 |
Expenses and Fees
| Expense Ratio (%): | 0.40% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.40% |
