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FLHY vs HYG: Differences, Returns & Fees

FLHY's duration was 3.1 years on Jun 30, 2026 and HYG's 3.0 on May 31, 2026; FLHY charges 0.40% to HYG's 0.49%. Net assets on Oct 20, 2026: $1.2bn for Franklin High Yield Corporate ETF and $16.2bn for iShares iBoxx $ High Yield Corporate Bond ETF.

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Ask IQ about FLHY and HYG

Answers cite the figures on this page.

FLHY costs 0.09 points a year less; their one-year returns differ by 1.3 points; HYG is 13.3 times larger.

FLHY vs HYG: Differences, Returns & Fees
FLHYHYG
Expense ratio0.40%0.49%
Net assets$1.2bn$16.2bn
Total return, 1 year+2.0%+0.7%
What it tracksNo index, actively managedMarkit iBoxx USD Liquid High Yield Index
Holdings in common18%

Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026.

+2.0%
FLHY total return, 1 year
+0.7%
HYG total return, 1 year
0.40%
FLHY expense ratio
0.49%
HYG expense ratio

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Client brief · page 1 of 2Report BR-F3FCBD50B8

FLHY and HYG are built for the same job. How do they differ in cost, holdings and results?

  1. What each follows. FLHY follows No index, actively managed and HYG follows Markit iBoxx USD Liquid High Yield Index.
  2. Holdings in common. 18% of the weight is in the same securities (holdings dated Jun 30, 2026 and May 31, 2026).
  3. Number of holdings. FLHY holds 289 positions and HYG holds 1334.

Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.

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What they hold in common

By the books each fund has filed, FLHY and HYG hold 18% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jun 30, 2026.

half

18% in common

Positions both hold, largest shared weight first
Holding FLHY HYG
TRACTC 5.875 03/01/31 144A, due Mar 1, 2031 0.52% 0.30%
VENLNG 9.5 02/01/29 144A, due Feb 1, 2029 0.59% 0.28%
ASUCOR 8 12/31/32 144A, due Dec 31, 2032 0.36% 0.28%
WULF 7.75 10/15/30 144A, due Oct 15, 2030 0.55% 0.26%
TRACTD 6.5 05/01/31 144A, due May 1, 2031 0.43% 0.26%
DVA 4.625 06/01/30 144A, due Jun 1, 2030 0.93% 0.25%
ASUCOR 8.375 02/01/34 144A, due Feb 1, 2034 0.24% 0.28%
CHTR 4.5 08/15/30 144A, due Aug 15, 2030 0.47% 0.22%
NLSN 9.29 04/15/29 144A, due Apr 15, 2029 0.22% 0.22%
APLD 9.25 12/15/30 144A, due Dec 15, 2030 0.83% 0.22%
VENLNG 8.375 06/01/31 144A, due Jun 1, 2031 0.23% 0.21%
SKX 10 07/15/33 144a, due Jul 15, 2033 0.87% 0.20%
Only in FLHY
THS 7.75 02/11/33 144A, due Feb 11, 2033 0.85%
KEDRIM 6.5 09/01/29 144A, due Sep 1, 2029 0.81%
PSDO 7.5 06/01/31 144A, due Jun 1, 2031 0.81%
EBIDCO 7.5 02/15/32 XR, due Feb 15, 2032 0.80%
ICECR 6 08/01/32 144a, due Aug 1, 2032 0.80%
LEEREN 4.25 07/01/29 144A, due Jul 1, 2029 0.79%
AKTGHL 7.5 05/15/33 144A, due May 15, 2033 0.73%
BANIJA 8.125 05/01/29 144A, due May 1, 2029 0.72%
Only in HYG
1261229 BC Ltd, due Apr 15, 2032 0.54%
EchoStar Corp, due Nov 30, 2029 0.44%
Cloud Software Group Inc, due Sep 30, 2029 0.34%
Cloud Software Group Inc, due Mar 31, 2029 0.33%
DISH Network Corp, due Nov 15, 2027 0.32%
Nexstar Media Inc, due Sep 15, 2033 0.30%
HUB International Ltd, due Jun 15, 2030 0.29%
CRC Insurance Group LLC, due Jun 1, 2031 0.28%

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On the same fields

FLHY
Franklin High Yield Corporate ETF
HYG
iShares iBoxx $ High Yield Corporate Bond ETF
Where it sits Bond ETF Bond ETF
Issuer Franklin iShares
What it is Actively managed Tracks an index of US high yield bonds
Total return, 1 year +2.0% +0.7%
Its benchmark over the same days +1.2% (USHY) −1.6% (IUSB)
Gap to its benchmark +0.8 pts vs USHY +2.3 pts vs IUSB
Expense ratio 0.40% 0.49%
Holdings 289 1334
Net assets $1.2bn $16.2bn

FLHY and HYG on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.

About FLHY

FLHY is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +2.0% with distributions reinvested, against +1.2% for its benchmark, the ICE BofA U.S. High Yield Constrained Index. The prospectus expense ratio is 0.40% a year.

About HYG

HYG tracks an index of US high yield bonds. Over the year to Oct 20, 2026 it returned +0.7% with distributions reinvested, against −1.6% for its benchmark, the Bloomberg U.S. Universal Index. The prospectus expense ratio is 0.49% a year.

Questions people ask

Which returned more over the last year, FLHY or HYG?
In the year to Oct 20, 2026, with distributions reinvested, FLHY returned +2.0% and HYG +0.7%.
Which is cheaper, FLHY or HYG?
FLHY is cheaper, by 0.09 percentage points a year. That is about $9 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
FLHY vs SPHYFLHY vs USHYFLHY vs SHYGFLHY vs JNKHYG vs HYGVHFSI vs HYGHYG vs JBBBHYG vs JPHY
FLHY on its own →HYG on its own →Hold both: look the portfolio through →Rankings →FLHY dividend history →FLHY holdings →HYG dividend history →HYG holdings →Standards and sources →
Where these figures came from
FLHY filings on SEC EDGAR ↗FLHY prospectus with the expense ratio (SEC) ↗Franklin website ↗HYG filings on SEC EDGAR ↗HYG prospectus with the expense ratio (SEC) ↗iShares page for HYG ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, FLHY against HYG, data as of Oct 20, 2026. https://etfiq.com/compare/any/flhy-vs-hyg

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.