US-listed · NYSE Arca · FIF-eligible (above NZ$50K)
iSharesHYGiShares iBoxx $ High Yield Corporate Bond ETF
Tracks the Markit iBoxx US Liquid High Yield Index — below-investment-grade US corporate bonds with monthly distributions.
Updated Reviewed quarterly
HYG holds below-investment-grade ("junk") corporate bonds. Default rates rise sharply in recessions (historical peaks 5-10% per annum); the ETF price typically falls 20-30% in credit-stress events. The 6.0% yield reflects credit-spread compensation, not a free lunch — read iShares' prospectus and the credit-cycle risk disclosure before investing.
About this fund
What is HYG?
HYG is the US-listed ticker for iShares iBoxx $ High Yield Corporate Bond ETF, issued by iShares. Tracks the Markit iBoxx US Liquid High Yield Index — below-investment-grade US corporate bonds with monthly distributions. TER is 0.49% per year, with a trailing 12-month distribution yield of approximately 6.0%. Distributions are paid monthly.
Next typical distribution: October.HYG typically pays every month. Most recent verified distribution: US$0.3688 per unit, ex-date 2026-07-01. Issuer sets the exact date — verify on the distribution calendar before relying on a payment date.
Platform availability
Where to buy HYG from New Zealand
Based on each platform's advertised market coverage and fee schedule. Verify with the platform before transacting — instrument coverage can change.
| Platform | Per-trade fee | FX | Min | Notes |
|---|---|---|---|---|
 SharesiesSharesies | 1.9% per trade | 0.5% | NZ$0 | Beginners, fractional shares, mixing NZ + US ETFs |
 HatchHatch | US$3 per trade (≤300 shares) | 0.5% | NZ$0 (US$1 to invest) | NZ investors who want US-only ETFs (SPY, VOO, QQQ, SCHD, JEPI) |
 StakeStake | US$0 trades | 0.70% | NZ$0 | Frequent US-share traders who hate per-trade fees |
 Interactive BrokersInteractive Brokers | From US$0.35 / trade (Tiered) or US$1 flat (Fixed) | ~0.002% (US$2 min) | US$0 | Larger portfolios, frequent traders, multi-market investors |
 Tiger BrokersTiger Brokers | US$2 flat per US trade (to 200 shares) | 0.50% | NZ$0 | NZ investors who want NZ + US + Asian markets in one account |
 Invest DirectInvest Direct | From NZ$29.90 per trade | Undisclosed margin on conversion | NZ$0 | US trading must be switched on by request, and covers a curated list of US securities — check this ticker is on it. |
 ASB SecuritiesASB Securities | NZ$30 per NZX trade | Bank rates (~1%) | NZ$0 (ASB customer) | Existing ASB customers wanting one login for banking + brokerage |
Showing 7 platforms that list this ETF. Full platform comparison: all 11 NZ brokers → · Full coverage matrix: availability matrix →
NZ tax treatment
How is HYG taxed for NZ investors?
HYG is US-domiciled. NZ investors apply Foreign Investment Fund rules once total overseas-share cost basis crosses the de-minimis threshold. Below it, only dividends are taxable.
The FIF de-minimis threshold is NZ$50,000(source) of overseas-share cost basis. Below it, FIF rules do not apply and only dividends are taxable.
Most NZ retail investors use Fair Dividend Rate (FDR): deemed income = 5% × opening market value × your marginal rate. Comparative Value (CV) can be lower in flat or down years.
US dividends carry 15%(source) withholding under the NZ–US tax treaty (file W-8BEN; default rate without it is 30%(source)). The withheld amount can be claimed as a foreign tax credit on your IR3.
FDR vs CV method → · PIE vs FIF comparison →
🧮 Model your own after-tax outcome
Mechanical NZ-tax calculator comparing PIE @ PIR vs FIF @ FDR vs FIF @ CV on your principal, assumed return, time horizon, PIR, and marginal rate. → Open the after-tax calculator
General information only — not personalised tax advice. Confirm your treatment with a registered NZ tax adviser before transacting.
Add up to 4 more tickers to compare TER · yield · distribution · NZ tax structure.
Similar ETFs
ETFs with similar focus to HYG
Same asset class, issuer cousins, and exchange peers — ranked by closest match. Click any row to compare side-by-side in the multi-compare tool.
| Ticker | Name | TER | Yield | Distribution | NZ tax | Compare |
|---|---|---|---|---|---|---|
| NZB | NZ Bonds (NZB) Smartshares · NZX | 0.54% | 3.0% | Quarterly | PIE | HYG vs NZB |
| NGB | NZ Govt Bonds (NGB) Smartshares · NZX | 0.20% | 3.1% | Quarterly | PIE | HYG vs NGB |
| SCHZ | SCHZ Schwab · NYSE Arca | 0.03% | — | Monthly | FIF | HYG vs SCHZ |
| BND | BND Vanguard · NASDAQ | 0.03% | 4.7% | Monthly | FIF | HYG vs BND |
| SGOV | SGOV iShares · NYSE Arca | 0.09% | 3.7% | Monthly | FIF | HYG vs SGOV |
Distribution history
Recent distributions — HYG
| Ex-date | Pay date | Per unit (USD) |
|---|---|---|
| 2026-07-01 | 2026-07-07 | US$0.3688 |
| 2026-06-01 | 2026-06-04 | US$0.4090 |
| 2026-05-01 | 2026-05-06 | US$0.4187 |
| 2026-04-01 | 2026-04-07 | US$0.3837 |
| 2026-03-02 | 2026-03-05 | US$0.3937 |
| 2026-02-02 | 2026-02-05 | US$0.3987 |
| 2025-12-19 | 2025-12-24 | US$0.3806 |
| 2025-12-01 | 2025-12-04 | US$0.3748 |
| 2025-11-03 | 2025-11-06 | US$0.4098 |
| 2025-10-01 | 2025-10-06 | US$0.3813 |
| 2025-09-02 | 2025-09-05 | US$0.3833 |
| 2025-08-01 | 2025-08-06 | US$0.4045 |
| 2025-07-01 | 2025-07-07 | US$0.3794 |
| 2025-06-02 | 2025-06-05 | US$0.3756 |
| 2025-05-01 | 2025-05-06 | US$0.4013 |
| 2025-04-01 | 2025-04-04 | US$0.3824 |
| 2025-03-03 | 2025-03-06 | US$0.3743 |
| 2025-02-03 | 2025-02-06 | US$0.3601 |
iShares typically declares two December distributions and skips a January ex-date.
Source: iShares distribution records, verified 2026-07-05. Amounts are cash distributions per unit before tax — verify against the issuer source before relying on a payment. HYG typically distributes every month; next typical month: October.
See /calendar/distributions/ for the rolling 12-month forward calendar across all covered ETFs.
FAQ
Common questions about HYG
What is the HYG ETF?⌄
HYG is the iShares iBoxx US Liquid High Yield Corporate Bond ETF — it tracks the Markit iBoxx US Liquid High Yield Index, holding below-investment-grade ("junk") US corporate bonds. TER is 0.49%, distributions paid monthly. The fund holds ~1,200 issues and is one of the most liquid junk-bond ETFs.
Why does HYG pay such a high yield?⌄
Junk bonds (rated BB or lower) compensate investors for higher default risk than investment-grade corporate bonds. HYG's ~6.0% trailing yield reflects credit-spread compensation. In recessions, junk-bond default rates rise sharply (5-10% historically), and the ETF price typically falls 20-30%. The high yield is not free — it is risk premium.
HYG vs JNK — what's the difference?⌄
Both track US high-yield corporate bonds. HYG (iShares) tracks the iBoxx index; JNK (SPDR) tracks the Bloomberg index. Holdings overlap heavily and long-run performance has historically been close. HYG has higher trading volume and tighter bid-ask spreads. For NZ buy-and-hold investors the choice is mostly cosmetic.
How is HYG taxed for NZ residents?⌄
Above NZ$50,000 cost basis, FIF rules apply (FDR method most common — 5% × opening MV × marginal rate). Bond distributions are interest income; depending on your broker's tax-statement classification this may be taxed differently from equity dividends. The 15% US withholding treaty rate may not apply to corporate bond interest — confirm with your broker's annual statement.
Where to buy HYG from New Zealand
The platforms below all support HYG. Each link opens the platform's site directly — we don't take any payment for placement or for clicks.
Hatch
Sharesies
Interactive Brokers
Stake
Tiger BrokersFees + platform details verified against each provider's published rate card. Always check the current schedule before transacting.Full platform comparison →
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Sources for this HYG data
The figures on this page come from the documents below. We do not pull live prices; the data is reviewed against issuer fact sheets and exchange listings (last reviewed 2026-09-05). Which figures have been checked against the issuer by machine, rather than by eye, is stated below — an unchecked figure is labelled as such rather than left ambiguous.
- ✓Total expense ratioChecked against BlackRock's own product-screener data on 2026-09-05.
- ✓Distribution yieldChecked against BlackRock's own product-screener data on 2026-09-05 (issuer figure as at 2026-09-03).Measured as trailing 12-month distributions.
Issuer product page
ishares.com/us/products/239565/ishares-iboxx-high-yield-corporate-bond-etf
Fact sheet (PDF)
ishares.com/us/literature/fact-sheet/hyg-ishares-iboxx-high-yield-corporate-bond-etf-fund-fact-sheet-en-us.pdf
External links open in a new tab. We do not earn commission on issuer product pages. See our methodology + disclosure.
Compare
HYG against the alternatives
2 side-by-side comparisons covering fee, yield and NZ tax wrapper. Characteristics, not recommendations.
| Comparison | The other fund | Its TER |
|---|---|---|
| HYG vs SCHZ | SCHZ | 0.03% |
| HYG vs BKLN | BKLN | 0.65% |
Related ETFs and resources
SCHZ — Schwab Intermediate Treasury ETF
Investment-grade alternative; lower yield, lower credit risk.
BKLN — Invesco Senior Loan ETF
Floating-rate senior loans; ranks above junk bonds in capital structure.
JEPI — JPMorgan Equity Premium Income
Equity-income alternative for high-yield seekers.
FIF tax explained
When FIF applies and how to file.
Compare NZ platforms
Hatch, Sharesies, Stake, Interactive Brokers — fee comparison.
