USHY vs HYG: Holdings Overlap
USHYiShares Broad USD High Yield Corporate Bond ETF
iShares · 1896 holdings · $28.6B · as of 2026-04-30
HYGiShares iBoxx $ High Yield Corporate Bond ETF
iShares · 1322 holdings · $17.4B · as of 2026-05-31
Holdings snapshots are 31 days apart (USHY: 2026-04-30, HYG: 2026-05-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are USHY and HYG?
iShares Broad USD High Yield Corporate Bond ETF (USHY, by iShares) holds 1896 positions; iShares iBoxx $ High Yield Corporate Bond ETF (HYG, by iShares) holds 1322. They have 1262 holdings in common, and by portfolio weight the two funds are 76.2% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 76.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 1262USHY holds 1896 · HYG holds 1322
- Weight in Shared Holdings
- USHY 77%·HYG 95%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in USHY
634 of 1896 positions (20.1% of the fund) are not held by HYG. Showing the top 30 by weight.
- Carnival Corp0.21%
- Discovery Global Holdings Inc0.20%
- Carnival Corp0.14%
- AMC Global Media Inc0.11%
- Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer0.09%
- Carnival Corp0.09%
Only in HYG
60 of 1322 positions (2.8% of the fund) are not held by USHY. Showing the top 30 by weight.
- Wynn Macau Ltd0.11%
- Teva Pharmaceutical Finance Netherlands III BV0.11%
- Melco Resorts Finance Ltd0.10%
- Directv Financing LLC / Directv Financing Co-Obligor Inc0.10%
- Wynn Macau Ltd0.09%
- ARC Falcon I Inc / Arclin USA LLC / New Arclin US Holding Corp0.09%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| USHY | +0.3% | +2.5% | +5.7% | +8.7% | +4.2% | — | 6.91% |
| HYG | +0.3% | +2.2% | +5.2% | +8.3% | +3.8% | +4.7% | 5.89% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in USHY vs HYG →
Shared Holdings(1262)
The top 10 shared positions account for 4% of the overlap, led by 1261229 BC Ltd, EchoStar Corp and Quikrete Holdings Inc.
| 1261229 BC Ltd | 0.47% | 0.54% | 0.47% |
|---|---|---|---|
| EchoStar Corp | 0.41% | 0.44% | 0.41% |
| Quikrete Holdings Inc | 0.28% | 0.33% | 0.28% |
| SV RNO Property Owner 1 LLC | 0.27% | 0.30% | 0.27% |
| Cloud Software Group Inc | 0.26% | 0.33% | 0.26% |
| WULF Compute LLC | 0.25% | 0.26% | 0.25% |
| Asurion LLC/ Asurion Co-Issuer Inc | 0.25% | 0.28% | 0.25% |
| HUB International Ltd | 0.25% | 0.29% | 0.25% |
| Cloud Software Group Inc | 0.25% | 0.34% | 0.25% |
| Venture Global LNG Inc | 0.23% | 0.28% | 0.23% |
| Asurion LLC/ Asurion Co-Issuer Inc | 0.23% | 0.28% | 0.23% |
| DISH Network Corp | 0.21% | 0.32% | 0.21% |
| American Airlines Inc/AAdvantage Loyalty IP Ltd | 0.21% | 0.26% | 0.21% |
| Panther Escrow Issuer LLC | 0.21% | 0.28% | 0.21% |
| EMRLD Borrower LP / Emerald Co-Issuer Inc | 0.20% | 0.26% | 0.20% |
| DaVita Inc | 0.20% | 0.25% | 0.20% |
| TransDigm Inc | 0.20% | 0.23% | 0.20% |
| 1011778 BC ULC / New Red Finance Inc | 0.19% | 0.24% | 0.19% |
| TransDigm Inc | 0.19% | 0.26% | 0.19% |
| Level 3 Financing Inc | 0.19% | 0.20% | 0.19% |
| CCO Holdings LLC / CCO Holdings Capital Corp | 0.19% | 0.22% | 0.19% |
| CCO Holdings LLC / CCO Holdings Capital Corp | 0.18% | 0.23% | 0.18% |
| Neptune Bidco US Inc | 0.18% | 0.22% | 0.18% |
| CCO Holdings LLC / CCO Holdings Capital Corp | 0.18% | 0.21% | 0.18% |
| Discovery Global Holdings Inc | 0.18% | 0.22% | 0.18% |
Showing the top 250 of 1262 shared holdings by overlap weight.
Frequently Asked Questions
How much do USHY and HYG overlap?
USHY and HYG overlap by 76.2% of portfolio weight. They share 1262 holdings (USHY holds 1896 positions and HYG holds 1322), based on each fund's latest SEC-reported holdings.
Is it redundant to own both USHY and HYG?
The two portfolios are 76.2% identical by weight. Owning both mostly doubles down on the shared core rather than diversifying: the same large positions drive both funds.
What are the biggest shared holdings of USHY and HYG?
The largest positions held by both funds are 1261229 BC Ltd, EchoStar Corp, Quikrete Holdings Inc, SV RNO Property Owner 1 LLC and Cloud Software Group Inc. Together the top 10 shared positions account for 4% of the total overlap.
What does USHY own that HYG doesn't?
634 positions (20.1% of USHY) are unique to USHY, led by Carnival Corp, Discovery Global Holdings Inc and Carnival Corp. In the other direction, 60 positions (2.8% of HYG) are unique to HYG.