PHYL vs USHY: Differences, Returns & Fees
PHYL's duration was 3.0 years on May 29, 2026 and USHY's 3.0 on Jul 31, 2026; USHY charges 0.08% to PHYL's 0.39%. Net assets: $1.5bn on Oct 19, 2026 for PGIM Active High Yield Bond ETF, and $25.6bn on Oct 20, 2026 for iShares Broad USD High Yield Corporate Bond ETF.
USHY costs 0.31 points a year less; their one-year returns differ by 0.4 points; USHY is 17.0 times larger.
| PHYL | USHY | |
|---|---|---|
| Expense ratio | 0.39% | 0.08% |
| Net assets, as of Oct 19, 2026 | $1.5bn | $25.5bn |
| Total return, 1 year | +0.8% | +1.2% |
| What it tracks | No index, actively managed | ICE BofA US High Yield Constrained Index |
| Holdings in common | 34% | |
Holdings in common uses holdings dated May 29, 2026 and Jul 31, 2026.
PHYL and USHY are built for the same job. How do they differ in cost, holdings and results?
- What each follows. PHYL follows No index, actively managed and USHY follows ICE BofA US High Yield Constrained Index.
- Holdings in common. 34% of the weight is in the same securities (holdings dated May 29, 2026 and Jul 31, 2026).
- Cost. PHYL charges 0.39% of assets a year and USHY 0.08%, a gap of 0.31 points.
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, PHYL and USHY hold 34% of their money in the same securities at the same weight. Holdings dated May 29, 2026 and Jul 31, 2026.
half
34% in common
On the same fields
PHYL and USHY on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About PHYL
PHYL is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +0.8% with distributions reinvested, against −1.9% for its benchmark, the Bloomberg US Aggregate Bond Index. The prospectus expense ratio is 0.39% a year.
About USHY
USHY tracks an index of Broad USD High Yield Corporate Bond. Over the year to Oct 20, 2026 it returned +1.2% with distributions reinvested, against +1.1% for its benchmark, the ICE BofA US High Yield Constrained Index, measured by the closely related ICE BofA US High Yield Index. The prospectus expense ratio is 0.08% a year.
Questions people ask
- Which returned more over the last year, PHYL or USHY?
- In the year to Oct 20, 2026, with distributions reinvested, PHYL returned +0.8% and USHY +1.2%.
- Which is cheaper, PHYL or USHY?
- USHY is cheaper, by 0.31 percentage points a year. That is about $31 on $10,000 held for a year. Fees come from each fund's prospectus.
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, PHYL against USHY, data as of Oct 20, 2026. https://etfiq.com/compare/any/phyl-vs-ushy
ETFIQ. (Oct 20, 2026). PHYL against USHY. Retrieved from https://etfiq.com/compare/any/phyl-vs-ushy
[PHYL against USHY (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/phyl-vs-ushy)
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