BRHY ETF: What Is It? — Returns, Expense Ratio, Holdings, and Alternative ETFs
The iShares High Yield Active ETF (BRHY), which invests in US high-yield corporate bonds, does not simply replicate an index but is managed through a security-selection approach to manage credit risk, making it a reference option for investors seeking stable income through monthly distributions.
SubscribeWhat Is the iShares High Yield Active ETF?
A bond ETF managed actively with a focus on US high-yield corporate bonds. It uses a Bloomberg high-yield family index as a reference benchmark, while portfolio managers directly select individual securities.
It is well suited for investors who want to pursue both income and total return within a bond portfolio and actively manage credit risk.
It is an ETF managed by iShares using an active (actively managed) management approach.
How Does the iShares High Yield Active ETF Invest?
| Item | Details |
|---|---|
| Investment Focus | US high-yield corporate bonds |
| Management Style | Active (security selection) |
| Rebalancing Frequency | As needed (manager discretion) |
| Distribution Frequency | Monthly |
| Total Expense Ratio | 0.45% |
It uses a Bloomberg high-yield family index as a reference benchmark but does not replicate it directly. Instead, managers analyze issuer-level creditworthiness and valuation to select securities, adjusting sector and credit-rating weights dynamically based on market conditions.
- Active credit-risk management versus passive high-yield index funds
- Monthly distribution structure
iShares High Yield Active ETF Size and Cost (AUM and Expense Ratio)
Assets under management (AUM) stand at $148.4M, and the total expense ratio is 0.45% annually.
Performance and Flows of iShares High Yield Active ETF
High-yield corporate bonds are highly sensitive to interest rates and credit-spread trends, and because of the active management approach, performance gaps relative to the benchmark index can emerge depending on the market environment.
Investor demand for active bond ETFs has continued, and capital flows tend to move together during credit-spread widening or tightening phases, while market expectations for the direction of interest rates also influence fund flows.
iShares High Yield Active ETF Strengths and Weaknesses
Credit-risk management through active management and the monthly distribution structure are strengths, while higher fees compared with passive products and manager-judgment risk are weaknesses.
💪 Key Strengths
⚠️ Points to Watch
iShares High Yield Active ETF Alternative ETFs and Related Products
BNDX and IUSB, shown in the table, are global and US products focused primarily on investment-grade bonds, so their credit-rating composition differs from that of BRHY. BINC, PYLD, and JCPB are multi-sector active products covering multiple bond sectors, and their high-yield allocation tends to be lower than BRHY's. Within the same high-yield category, passive index-tracking alternatives include HYG, JNK, and USHY, and ANGL, which focuses on bonds downgraded to near-default levels, can also be considered.
Investor Checklist for the iShares High Yield Active ETF
Points to review before investing in BRHY. Because this is an active high-yield bond product, investors should look at management performance, credit risk, and distribution stability together, and also confirm the cost difference relative to passive products.
| Checkpoint | What to Confirm | Current Status |
|---|---|---|
| 💵 Expense Ratio | Confirm fee level relative to passive products, given the active management approach | Tends to be higher than passive |
| 📊 Credit-Rating Composition | Review the credit-rating distribution within the portfolio | Maintained with a high-yield focus |
| 💰 Distribution Frequency | Confirm whether distributions are monthly and how stable they are | Monthly distributions maintained |
| 📈 Performance vs. Benchmark | Confirm how active management performance compares with the index | Dependent on manager judgment |
High-yield corporate bonds can experience elevated price volatility during economic slowdowns or credit-spread widening phases, and because of the active management approach, manager security selection has a significant impact on performance.
The fund is well suited for investors seeking both income and active credit management within a bond portfolio, but the choice should involve comparing fees and management performance against passive high-yield products.
1-Year Price Performance
Dividend & Yield
52-Week Price RangeiShares High Yield Active ETF Strengths and Weaknesses
Credit-risk management through active management and the monthly distribution structure are strengths, while higher fees compared with passive products and manager-judgment risk are weaknesses.
💪 Key Strengths
⚠️ Points to Watch
iShares High Yield Active ETF Alternative ETFs and Related Products
BNDX and IUSB, shown in the table, are global and US products focused primarily on investment-grade bonds, so their credit-rating composition differs from that of BRHY. BINC, PYLD, and JCPB are multi-sector active products covering multiple bond sectors, and their high-yield allocation tends to be lower than BRHY's. Within the same high-yield category, passive index-tracking alternatives include HYG, JNK, and USHY, and ANGL, which focuses on bonds downgraded to near-default levels, can also be considered.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 BNDX | Vanguard Total International Bond ETF | $46.99 | +0.1% | $82.7B | 0.07% | 4.66% | -5.1% |
 IUSB | iShares Core Universal USD Bond ETF | $44.79 | -0.1% | $43.5B | 0.06% | 4.36% | -4.4% |
 BINC | iShares Flexible Income Active ETF | $51.28 | -0.1% | $16.5B | 0.40% | 5.66% | -3.5% |
 PYLD | PIMCO Multisector Bond Active ETF | $25.78 | -0.0% | $15.6B | 0.64% | 6.08% | -3.5% |
 JCPB | JPMorgan Core Plus Bond ETF | $45.47 | -0.1% | $14.6B | 0.37% | 5.02% | -4.7% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 CASY | Casey's General Stores Inc | 0.06% | $615.47 | -1.9% | $22.7B | 29.6 | 0.42% |
 RTO | Rentokil Initial Plc ADR | 0.05% | $22.37 | -0.2% | $11.3B | 23.8 | 2.91% |
| UNH | Unitedhealth Group Inc | 0.05% | $379.09 | -2.4% | $340.3B | 24.4 | 2.39% |
| WM | Waste Management Inc | 0.05% | $213.46 | -0.6% | $85.3B | 30.2 | 1.77% |
| LLY | Lilly(Eli) & Co | 0.05% | $1115.70 | -0.7% | $1.05T | 37.9 | 0.62% |
| JNJ | Johnson & Johnson | 0.05% | $265.58 | -0.3% | $640.0B | 30.8 | 2.02% |
| CAH | Cardinal Health Inc | 0.05% | $234.57 | -0.6% | $54.6B | 32.4 | 0.89% |
| CB | Chubb Limited | 0.05% | $338.25 | -0.1% | $130.5B | 12.0 | 1.19% |
 COKE | Coca-Cola Consolidated Inc | 0.04% | $192.68 | +2.0% | $12.8B | 26.4 | 0.52% |
| MCK | Mckesson Corp | 0.04% | $881.51 | +0.1% | $102.8B | 23.6 | 0.37% |
Investor Checklist for the iShares High Yield Active ETF
Points to review before investing in BRHY. Because this is an active high-yield bond product, investors should look at management performance, credit risk, and distribution stability together, and also confirm the cost difference relative to passive products.
| Checkpoint | What to Confirm | Current Status |
|---|---|---|
| 💵 Expense Ratio | Confirm fee level relative to passive products, given the active management approach | Tends to be higher than passive |
| 📊 Credit-Rating Composition | Review the credit-rating distribution within the portfolio | Maintained with a high-yield focus |
| 💰 Distribution Frequency | Confirm whether distributions are monthly and how stable they are | Monthly distributions maintained |
| 📈 Performance vs. Benchmark | Confirm how active management performance compares with the index | Dependent on manager judgment |
High-yield corporate bonds can experience elevated price volatility during economic slowdowns or credit-spread widening phases, and because of the active management approach, manager security selection has a significant impact on performance.
The fund is well suited for investors seeking both income and active credit management within a bond portfolio, but the choice should involve comparing fees and management performance against passive high-yield products.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of July 2, 2026.
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