- Issuer
- iShares
- Inception Date
- Jul 11, 2017
- Region
- Developed Markets (Broad)
- Category
- High Yield Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- BlackRock High Yield Defensive Bond Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $2B
Share Price Chart
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Performance
HYDB Performance Chart
iShares High Yield Bond Factor ETF (HYDB) is up 1.6% since the beginning of the year. HYDB is currently trading at $47 per share. Investors who bought $1,000 worth of HYDB shares 5 years ago would now be looking at an investment worth $1,252.
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Returns By Period
iShares High Yield Bond Factor ETF (HYDB) has returned 1.58% so far this year and 6.61% over the past 12 months.
iShares High Yield Bond Factor ETF
- 1D
- -0.11%
- 1M
- 0.52%
- YTD
- 1.58%
- 6M
- 1.86%
- 1Y
- 6.61%
- 3Y*
- 9.39%
- 5Y*
- 4.60%
- 10Y*
- —
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%
HYDB Monthly Returns History
Based on dividend-adjusted daily data since Jul 13, 2017, HYDB's average daily return is +0.02%, while the average monthly return is +0.47%. At this rate, an investment would double in approximately 12.3 years.
Historically, 69% of months were positive and 31% were negative. The best month was Jul 2022 with a return of +6.2%, while the worst month was Mar 2020 at -11.6%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, HYDB closed higher 52% of trading days. The best single day was Mar 26, 2020 with a return of +5.1%, while the worst single day was Mar 16, 2020 at -6.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.76% | 0.17% | -1.56% | 1.81% | 0.35% | 0.07% | 1.58% | ||||||
| 2025 | 1.11% | 1.18% | -1.00% | -0.91% | 1.72% | 1.94% | 0.37% | 1.17% | 1.02% | -0.08% | 0.65% | 0.70% | 8.10% |
| 2024 | 0.71% | -0.11% | 1.57% | -0.87% | 1.65% | 0.56% | 2.18% | 1.43% | 1.65% | -0.91% | 1.85% | -0.89% | 9.11% |
| 2023 | 3.65% | -1.66% | 1.72% | 0.65% | -0.53% | 1.80% | 1.72% | -0.02% | -1.55% | -0.40% | 5.02% | 3.01% | 14.02% |
| 2022 | -2.59% | -0.79% | -1.09% | -3.37% | 0.61% | -6.85% | 6.18% | -2.62% | -3.89% | 3.09% | 3.11% | -1.56% | -9.99% |
| 2021 | 0.03% | 0.61% | 0.67% | 0.81% | 0.11% | 1.47% | 0.04% | 0.47% | -0.18% | 0.29% | -1.23% | 1.99% | 5.14% |
Benchmark Metrics
iShares High Yield Bond Factor ETF has an annualized alpha of 1.47%, beta of 0.29, and R2 of 0.51 versus S&P 500 Index. Calculated based on daily prices since July 13, 2017.
- This ETF participated in 40.05% of S&P 500 Index downside but only 32.88% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.29 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 1.47%
- Beta
- 0.29
- R²
- 0.51
- Upside Capture
- 32.88%
- Downside Capture
- 40.05%
Expense Ratio
HYDB has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HYDB ranks 54 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 High Yield Bond Factor ETF (HYDB) 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.
| HYDB | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.37 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 2.78 | -0.44 |
| Martin ratioReturn relative to average drawdown | 10.32 | 12.44 | -2.12 |
Dividends
Dividend History
iShares High Yield Bond Factor ETF provided a 6.98% dividend yield over the last twelve months, with an annual payout of $3.27 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $3.27 | $3.34 | $3.27 | $3.23 | $2.74 | $2.42 | $2.98 | $2.88 | $2.85 | $1.37 |
Dividend yield | 6.98% | 7.04% | 6.95% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.16% | 2.70% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares High Yield Bond Factor 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 | $0.27 | $0.26 | $0.28 | $0.27 | $0.26 | $1.34 | ||||||
| 2025 | $0.00 | $0.29 | $0.23 | $0.28 | $0.29 | $0.31 | $0.28 | $0.28 | $0.28 | $0.28 | $0.28 | $0.54 | $3.34 |
| 2024 | $0.00 | $0.21 | $0.27 | $0.33 | $0.28 | $0.29 | $0.28 | $0.28 | $0.28 | $0.27 | $0.28 | $0.52 | $3.27 |
| 2023 | $0.00 | $0.25 | $0.25 | $0.27 | $0.27 | $0.28 | $0.27 | $0.27 | $0.30 | $0.29 | $0.23 | $0.57 | $3.23 |
| 2022 | $0.00 | $0.20 | $0.21 | $0.22 | $0.23 | $0.22 | $0.22 | $0.24 | $0.22 | $0.23 | $0.24 | $0.51 | $2.74 |
| 2021 | $0.00 | $0.25 | $0.22 | $0.20 | $0.18 | $0.17 | $0.17 | $0.18 | $0.20 | $0.21 | $0.20 | $0.43 | $2.42 |
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 High Yield Bond Factor 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 High Yield Bond Factor ETF was 21.58%, occurring on Mar 23, 2020. Recovery took 139 trading sessions.
The current iShares High Yield Bond Factor ETF drawdown is 0.20%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -21.58%Mar 2020 | 1mo 1d | 6mo 19d | 7mo 20dFeb 2020 - Oct 2020 |
Bear market2022 | -14.28%Sep 2022 | 9mo 2d | 1y 2mo | 1y 11moDec 2021 - Dec 2023 |
Rate-hike selloffLate 2018 | -6.51%Dec 2018 | 2mo 21d | 1mo 13d | 4mo 4dOct 2018 - Feb 2019 |
2025 selloff2025 | -5.58%Apr 2025 | 1mo 6d | 1mo 27d | 3mo 3dMar 2025 - Jun 2025 |
2018 pullback2018 | -3.37%Feb 2018 | 9d | 5mo 29d | 6mo 8dJan 2018 - Aug 2018 |
Drawdown Indicators
| HYDB | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.58% | -56.78% | +35.20% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -9.10% | +6.27% |
Max Drawdown (3Y)Largest decline over 3 years | -5.58% | -18.90% | +13.32% |
Max Drawdown (5Y)Largest decline over 5 years | -14.28% | -25.43% | +11.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.20% | -1.80% | +1.60% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -10.71% | +8.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 2.03% | -1.39% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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