At a glance
HYSA charges 0.55% a year. It has $65.3M in assets; it paid 6.57% of its price in distributions over the past 12 months, monthly. Over the past year it returned +0.8% with distributions reinvested; over three years it returned +8.2% a year.
The short version
BondBloxx USD High Yield Bond Sector Rotation ETF (HYSA) is an actively managed "fund of funds." It owns other BondBloxx ETFs that hold U.S. high yield, or "junk," corporate bonds. Each month its manager can shift money among sector and credit-rating funds to try to beat the ICE BofA US Cash Pay High Yield Constrained Index. It pays income monthly. The trailing yield was 6.57% as of October 27, 2026, and the expense ratio is 0.55%.
Price history
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HYSA +0.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| HYSA official prospectus, to Dec 31, 2025 | — | +7.80% | — | — | — | +9.23% |
| Bloomberg US Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes) index, same period | — | +7.30% | — | — | — | +5.97% |
| ICE Bof A US Cash Pay High Yield Constrained Index (reflects no deduction for fees, expenses, or taxes) index, same period | — | +8.55% | — | — | — | +10.00% |
| HYSA price data to Oct 27, 2026 | +0.1% | +0.8% | +8.2% | — | — | +6.8% |
- Over the year to Oct 27, 2026, HYSA returned +0.8%.
- Its worst full calendar year was 2024 (+6.7%); its best was 2025 (+8.3%).
- The deepest fall in its price history was 4.9% (Feb 26, 2025 to Apr 8, 2025), recovered by May 15, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +0.1% | — |
| 2025 | +8.3% | +7.80% |
| 2024 | +6.7% | +7.35% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.7000 | |
| 2025 | $1.0100 | -3.8% |
| 2024 | $1.0500 |
What's inside
As of Jul 31, 2026, the fund held 3 securities; the ten largest made up 99.98% of assets.
| Holding | Weight | |
|---|---|---|
| BONDBLOXX-BB RATED USD HY CB | 49.43% | |
| BONDBLOXX-B RATED USD HY CB | 40.13% | |
| BONDBLOXX-CCC-USD HY CORP BD | 10.42% |
By country
United States 99.98%By asset type
Stocks 99.98%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $35.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.50%, +0.10%, -0.44%.
How it works
HYSA does not try to copy an index. Its adviser, BondBloxx Investment Management, spreads the fund's money across as many as 10 of its own ETFs. Seven of them each cover one sector of the high yield bond market, such as energy, healthcare, or telecom, media and technology. The other three group bonds by credit rating: BB, single-B and CCC. A credit rating grades how likely a borrower is to pay its debts, and CCC is the riskiest of the three. The fund measures itself against the ICE BofA US Cash Pay High Yield Constrained Index.
The adviser studies economic, financial and market data. It then puts more money into the areas it likes and less into the rest. The fund does not have to own every sector. As of July 31, 2026, it held only three funds and no sector funds: the BB-rated ETF (XBB) at 49%, the B-rated ETF (XB) at 40% and the CCC-rated ETF (XCCC) at 10%.
The mix is usually rebalanced monthly. At least 80% of net assets must go to high yield bonds issued by U.S. companies. Up to 20% can go to Treasurys, cash, futures, options or swaps. The fund is "non-diversified," so it can concentrate in a small number of holdings. The adviser also earns fees from the funds HYSA buys, and the prospectus flags this as a possible conflict of interest.
What it really costs
- HYSA charges 0.55% a year.
- Of that, 0.45% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.56% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $56 in the first year and $1,301 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| HYSA | $56 | $297 | $557 | $1,301 |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
HYSA's main appeal is monthly income from high yield corporate bonds, but it carries more credit risk than core bond funds.
HYSA could add monthly income to a portfolio. Its trailing 12-month yield was 6.57% as of October 27, 2026, or about $0.95 per share. The catch is a short track record. The fund launched on September 18, 2023, so it missed the 2008, 2020 and 2022 downturns. High yield bonds tend to fall when the economy weakens. Its worst calendar year so far was still a gain of 7.35%, in 2024. Its deepest drop was 4.9%, from February 26 to April 8, 2025, and it had recovered by May 15, 2025. A recession could hit harder. That could force someone drawing income to sell shares at low prices. In the SEC's standard example, $10,000 invested costs $56 in the first year and $1,301 over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Income seekers who want monthly payouts from U.S. junk bonds; the trailing yield was 6.57% as of October 27, 2026.
- Investors willing to pay 0.55% a year for a manager to shift money among BondBloxx sector and credit-rating high yield ETFs.
- People adding a small, higher-risk slice of corporate credit next to a core of Treasury or investment-grade bond funds.
Look elsewhere if
- Investors who want a plain index fund; HYSA is actively managed, and results depend on the adviser's allocation calls.
- Anyone who needs a long track record: it launched in September 2023 and has never been through a recession or major bond sell-off.
- Those who mainly want to protect principal; it holds below-investment-grade debt, including about 10% in CCC-rated bonds as of July 31, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
Does HYSA pay monthly dividends?
Yes. HYSA pays distributions every month. Over the 12 months to October 27, 2026, it paid about $0.95 per share, a trailing yield of 6.57%. These payments are not fixed. The prospectus warns that income can fall when interest rates drop, because maturing or called bonds get replaced with lower-yielding ones. Payments could also shrink if some of the companies behind the bonds stop paying their debts.
Is HYSA a risky investment?
It carries more risk than most bond funds. HYSA holds junk bonds, which are below investment grade and more likely to default. Its deepest drop was 4.9%, from February 26 to April 8, 2025, and it recovered within about six weeks. But the fund launched in September 2023, so it has never been through a recession. Its three-year volatility, a measure of how much the price swings, was 5.8% as of October 27, 2026.
How has HYSA performed compared with its benchmark?
It has trailed its high yield benchmark slightly. As of December 31, 2025, HYSA returned 7.8% over one year, while the ICE BofA US Cash Pay High Yield Constrained Index returned 8.55%. Since inception, HYSA averaged 9.23% a year against the index's 10%. Both beat the Bloomberg US Aggregate Bond Index. Based on price, HYSA returned 0.8% over the year to October 27, 2026.
What is HYSA's expense ratio?
HYSA's expense ratio is 0.55%, according to its prospectus filed February 27, 2026. The management fee is 0.45%, and the prospectus lists a fee waiver. In the SEC's standard example of $10,000 earning 5% a year, costs come to $56 after one year, $297 after three, $557 after five and $1,301 after 10. Later years cost more than the first year's rate would suggest, which points to the waiver being assumed to apply only for a limited time.
What's the difference between HYSA and owning XBB, XB and XCCC directly?
As of July 31, 2026, HYSA held just those three BondBloxx funds, at roughly 49%, 40% and 10%. If you own them directly, you choose the mix and when to change it. HYSA hands that job to the adviser. The adviser can rebalance monthly and can move into sector funds such as energy or healthcare. For that, HYSA charges 0.55% a year. You also take on the risk that the adviser's choices fall short.