- ISIN
- US46434V7872
- CUSIP
- 46434V787
- Issuer
- iShares
- Inception Date
- Apr 22, 2014
- Region
- North America (U.S.)
- Category
- Intermediate Core-Plus Bond
- Leveraged
- 1x (No leverage)
- Index Tracked
- Morningstar U.S. Bond Market Yield-Optimized Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $452M
Share Price Chart
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Performance
BYLD Performance Chart
iShares Yield Optimized Bond ETF (BYLD) is up 1.5% since the beginning of the year. BYLD is currently trading at $23 per share. Investors who bought $1,000 worth of BYLD shares 5 years ago would now be looking at an investment worth $1,117.
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Returns By Period
iShares Yield Optimized Bond ETF (BYLD) has returned 1.46% so far this year and 6.36% over the past 12 months. Over the last ten years, BYLD has returned 2.96% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
iShares Yield Optimized Bond ETF
- 1D
- -0.18%
- 1M
- 0.84%
- YTD
- 1.46%
- 6M
- 1.62%
- 1Y
- 6.36%
- 3Y*
- 6.52%
- 5Y*
- 2.23%
- 10Y*
- 2.96%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
BYLD Monthly Returns History
Based on dividend-adjusted daily data since Apr 24, 2014, BYLD's average daily return is +0.01%, while the average monthly return is +0.25%. At this rate, an investment would double in approximately 23.1 years.
Historically, 64% of months were positive and 36% were negative. The best month was Nov 2023 with a return of +4.3%, while the worst month was Mar 2020 at -5.1%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, BYLD closed higher 51% of trading days. The best single day was Mar 13, 2020 with a return of +4.1%, while the worst single day was Mar 12, 2020 at -4.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.59% | 0.98% | -1.76% | 0.86% | 0.76% | 0.04% | 1.46% | ||||||
| 2025 | 0.76% | 1.81% | -0.48% | 0.02% | 0.47% | 1.70% | 0.21% | 1.12% | 1.38% | 0.61% | 0.51% | 0.01% | 8.41% |
| 2024 | -0.14% | -0.46% | 1.08% | -1.70% | 1.79% | 0.43% | 1.70% | 1.43% | 1.56% | -1.53% | 1.28% | -1.26% | 4.17% |
| 2023 | 2.17% | -1.41% | 1.62% | 0.50% | -0.57% | 0.70% | 0.68% | -0.28% | -1.81% | -1.01% | 4.34% | 3.26% | 8.30% |
| 2022 | -2.00% | -1.31% | -2.20% | -3.67% | 1.18% | -3.00% | 3.36% | -2.87% | -3.07% | 0.40% | 2.96% | -0.32% | -10.33% |
| 2021 | -0.89% | -1.51% | -0.83% | 1.06% | 0.25% | 0.67% | 0.82% | -0.08% | -0.81% | -0.18% | -0.17% | 0.43% | -1.25% |
Benchmark Metrics
iShares Yield Optimized Bond ETF has an annualized alpha of 1.40%, beta of 0.13, and R2 of 0.19 versus S&P 500 Index. Calculated based on daily prices since April 24, 2014.
- This ETF participated in 21.01% of S&P 500 Index downside but only 18.05% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.13 may look defensive, but with R2 of 0.19 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.19 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.40%
- Beta
- 0.13
- R²
- 0.19
- Upside Capture
- 18.05%
- Downside Capture
- 21.01%
Expense Ratio
BYLD has an expense ratio of 0.17%, which is considered low.
Return for Risk
Risk / Return Rank
BYLD ranks 52 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares Yield Optimized Bond ETF (BYLD) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BYLD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.37 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 2.78 | -0.43 |
| Martin ratioReturn relative to average drawdown | 9.51 | 12.44 | -2.93 |
Dividends
Dividend History
iShares Yield Optimized Bond ETF provided a 5.35% dividend yield over the last twelve months, with an annual payout of $1.21 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.21 | $1.21 | $1.18 | $1.00 | $0.74 | $0.55 | $0.88 | $0.94 | $1.00 | $0.81 | $0.77 | $0.81 |
Dividend yield | 5.35% | 5.32% | 5.31% | 4.45% | 3.39% | 2.18% | 3.41% | 3.67% | 4.22% | 3.22% | 3.14% | 3.37% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares Yield Optimized Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.50 | ||||||
| 2025 | $0.00 | $0.11 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.20 | $1.21 |
| 2024 | $0.00 | $0.09 | $0.09 | $0.09 | $0.09 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.20 | $1.18 |
| 2023 | $0.00 | $0.07 | $0.08 | $0.08 | $0.07 | $0.08 | $0.08 | $0.08 | $0.09 | $0.09 | $0.08 | $0.18 | $1.00 |
| 2022 | $0.00 | $0.06 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.07 | $0.06 | $0.14 | $0.74 |
| 2021 | $0.00 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.07 | $0.55 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares Yield Optimized Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares Yield Optimized Bond ETF was 14.75%, occurring on Oct 20, 2022. Recovery took 460 trading sessions.
The current iShares Yield Optimized Bond ETF drawdown is 0.18%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -14.75%Oct 2022 | 1y 9mo | 1y 10mo | 3y 7moJan 2021 - Aug 2024 |
COVID crash2020 | -14.37%Mar 2020 | 14d | 4mo 11d | 4mo 25dMar 2020 - Jul 2020 |
2016 pullback2016 | -3.84%Jan 2016 | 9mo 8d | 2mo 17d | 11mo 25dApr 2015 - Apr 2016 |
2018 pullback2018 | -2.93%May 2018 | 4mo 9d | 8mo 11d | 1y 15dJan 2018 - Jan 2019 |
2025 selloff2025 | -2.82%Apr 2025 | 1mo 5d | 1mo 22d | 2mo 27dMar 2025 - May 2025 |
Drawdown Indicators
| BYLD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.75% | -56.78% | +42.03% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -9.10% | +6.39% |
Max Drawdown (3Y)Largest decline over 3 years | -3.94% | -18.90% | +14.96% |
Max Drawdown (5Y)Largest decline over 5 years | -14.65% | -25.43% | +10.78% |
Max Drawdown (10Y)Largest decline over 10 years | -14.75% | -33.92% | +19.17% |
Current DrawdownCurrent decline from peak | -0.18% | -1.80% | +1.62% |
Average DrawdownAverage peak-to-trough decline | -2.50% | -10.71% | +8.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 2.03% | -1.36% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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