Overview
The broad US junk-bond market — 2,000+ below-investment-grade corporate bonds yielding near 7%, at an index-fund fee.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| — | BB-rated | ~50% |
| — | B-rated | ~38% |
| — | CCC & below | ~12% |
Fund Details
Investment Thesis
USHY undercut the incumbent junk-bond funds (HYG, JNK) on fee by half or more and gradually took their assets — the index-fund playbook applied to high yield. The asset class itself is equity in disguise: it sells off with stocks in crises, so its diversification benefit is smaller than bond-fund packaging suggests. What it reliably delivers is carry — near-7% coupons that compound impressively across full cycles for investors who don't flinch at the drawdowns.
Who It's For
Yield-seeking investors who understand they are taking equity-correlated credit risk, sized as a satellite. The fee advantage over HYG makes USHY the default choice within the category.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | $27.88 | -- |
| 2019 | $30.80 | +10.5% |
| 2020 | $32.19 | +4.5% |
| 2021 | $33.32 | +3.5% |
| 2022 | $29.49 | -11.5% |
| 2023 | $32.14 | +9.0% |
| 2024 | $33.91 | +5.5% |
| 2025 | $35.60 | +5.0% |
| Year | Yield |
|---|---|
| 2016 | -- |
| 2017 | -- |
| 2018 | 5.80% |
| 2019 | 5.40% |
| 2020 | 4.90% |
| 2021 | 4.40% |
| 2022 | 5.60% |
| 2023 | 6.80% |
| 2024 | 7.20% |
| 2025 | 6.94% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | $4.0B | -- |
| 2019 | $4.7B | +17.5% |
| 2020 | $5.6B | +19.1% |
| 2021 | $6.6B | +17.9% |
| 2022 | $7.8B | +18.2% |
| 2023 | $9.3B | +19.2% |
| 2024 | $11B | +18.3% |
| 2025 | $13B | +18.2% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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