- ISIN
- US46435U1685
- CUSIP
- 46435U168
- Delisting Date
- Dec 15, 2025
- Issuer
- iShares
- Inception Date
- May 7, 2019
- Region
- North America (U.S.)
- Category
- High Yield Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- Bloomberg 2025 Term High Yield and Income Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $365M
Share Price Chart
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Performance
IBHE Performance Chart
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Returns By Period
iShares iBonds 2025 Term High Yield & Income ETF
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.42%
- 1M
- 1.94%
- 6M
- 8.74%
- YTD
- 10.66%
- 1Y
- 21.02%
- 3Y*
- 19.50%
- 5Y*
- 11.63%
- 10Y*
- 13.41%
IBHE Monthly Returns History
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |||||||
| 2025 | 0.28% | 0.71% | 0.11% | 0.59% | 0.18% | 0.62% | 0.27% | 0.43% | 0.32% | 0.42% | 0.25% | 0.19% | 4.45% |
| 2024 | 0.69% | 0.92% | 0.82% | 0.22% | 0.94% | 0.21% | 0.53% | 0.73% | 0.65% | 0.39% | 0.57% | 0.71% | 7.62% |
| 2023 | 2.35% | -0.28% | 0.87% | 0.61% | 0.23% | 1.37% | 0.67% | 0.82% | 0.03% | -0.33% | 2.08% | 1.48% | 10.32% |
| 2022 | -0.98% | -0.52% | -0.57% | -1.94% | 0.56% | -4.46% | 4.09% | -1.81% | -1.93% | 2.05% | 2.45% | -0.80% | -4.08% |
| 2021 | -0.33% | 0.59% | 1.23% | 0.58% | 0.37% | 0.76% | -0.08% | 0.45% | -0.04% | 0.06% | -0.81% | 1.56% | 4.40% |
Benchmark Metrics
iShares iBonds 2025 Term High Yield & Income ETF has an annualized alpha of 0.58%, beta of 0.29, and R2 of 0.25 versus S&P 500 Index. Calculated based on daily prices since May 09, 2019.
- This ETF participated in 24.71% of S&P 500 Index downside but only 21.33% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.29 may look defensive, but with R2 of 0.25 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 0.25 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
- 0.58%
- Beta
- 0.29
- R²
- 0.25
- Upside Capture
- 21.33%
- Downside Capture
- 24.71%
Expense Ratio
IBHE has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares iBonds 2025 Term High Yield & Income ETF (IBHE) 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.
| IBHE | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.28 | — |
| Martin ratioReturn relative to average drawdown | — | 9.88 | — |
Dividends
Dividend History
iShares iBonds 2025 Term High Yield & Income ETF provided a 1.87% dividend yield over the last twelve months, with an annual payout of $0.43 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.43 | $1.05 | $1.60 | $1.66 | $1.30 | $1.20 | $1.43 | $0.95 |
Dividend yield | 1.87% | 4.53% | 6.92% | 7.17% | 5.77% | 4.84% | 5.74% | 3.73% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares iBonds 2025 Term High Yield & Income 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||
| 2025 | $0.00 | $0.11 | $0.11 | $0.11 | $0.10 | $0.10 | $0.10 | $0.09 | $0.08 | $0.09 | $0.09 | $0.08 | $1.05 |
| 2024 | $0.00 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.13 | $0.12 | $0.23 | $1.60 |
| 2023 | $0.00 | $0.14 | $0.13 | $0.13 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.13 | $0.14 | $0.29 | $1.66 |
| 2022 | $0.00 | $0.10 | $0.10 | $0.09 | $0.10 | $0.10 | $0.10 | $0.11 | $0.10 | $0.13 | $0.11 | $0.25 | $1.30 |
| 2021 | $0.00 | $0.11 | $0.10 | $0.10 | $0.11 | $0.10 | $0.10 | $0.09 | $0.10 | $0.10 | $0.10 | $0.19 | $1.20 |
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 iBonds 2025 Term High Yield & Income 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 iBonds 2025 Term High Yield & Income ETF was 26.91%, occurring on Mar 20, 2020. Recovery took 159 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -26.91%Mar 2020 | 1mo 6d | 7mo 19d | 8mo 25dFeb 2020 - Nov 2020 |
Bear market2022 | -8.51%Jun 2022 | 5mo 17d | 1y 1d | 1y 5moDec 2021 - Jun 2023 |
2021 pullback2021 | -2.06%Aug 2021 | 1mo | 22d | 1mo 22dJul 2021 - Aug 2021 |
2019 pullback2019 | -1.91%May 2019 | 22d | 10d | 1mo 2dMay 2019 - Jun 2019 |
2019 pullback2019 | -1.63%Aug 2019 | 1mo 1d | 16d | 1mo 17dJul 2019 - Aug 2019 |
Drawdown Indicators
| IBHE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -56.78% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | — | -0.45% | — |
Average DrawdownAverage peak-to-trough decline | — | -10.71% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.09% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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