- CUSIP
- 46438G364
- Issuer
- iShares
- Inception Date
- Mar 25, 2025
- Category
- High Yield Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- Bloomberg 2032 Term High Yield and Income Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
IBHL Performance Chart
iShares iBonds 2032 Term High Yield and Income ETF (IBHL) is up 1.2% since the beginning of the year. IBHL is currently trading at $25 per share.
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Returns By Period
iShares iBonds 2032 Term High Yield and Income ETF (IBHL) has returned 1.16% so far this year and 6.79% over the past 12 months.
iShares iBonds 2032 Term High Yield and Income ETF
- 1D
- -0.02%
- 1M
- 0.68%
- YTD
- 1.16%
- 6M
- 1.51%
- 1Y
- 6.79%
- 3Y*
- —
- 5Y*
- —
- 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%
IBHL Monthly Returns History
Based on dividend-adjusted daily data since Mar 26, 2025, IBHL's average daily return is +0.03%, while the average monthly return is +0.59%. At this rate, an investment would double in approximately 9.8 years.
Historically, 81% of months were positive and 19% were negative. The best month was Jun 2025 with a return of +2.3%, while the worst month was Mar 2026 at -1.6%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 1 months.
On a daily basis, IBHL closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +2.0%, while the worst single day was Apr 10, 2025 at -1.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.47% | 0.25% | -1.60% | 1.66% | 0.47% | -0.07% | 1.16% | ||||||
| 2025 | -0.12% | 0.19% | 1.72% | 2.30% | 0.08% | 1.32% | 0.90% | 0.14% | 1.11% | 0.56% | 8.46% |
Benchmark Metrics
iShares iBonds 2032 Term High Yield and Income ETF has an annualized alpha of 2.06%, beta of 0.25, and R2 of 0.68 versus S&P 500 Index. Calculated based on daily prices since March 26, 2025.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (23.04%) than losses (7.96%) - typical of diversified or defensive assets.
- This ETF generated an annualized alpha of 2.06% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.25 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
- 2.06%
- Beta
- 0.25
- R²
- 0.68
- Upside Capture
- 23.04%
- Downside Capture
- 7.96%
Expense Ratio
IBHL has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Risk / Return Rank
IBHL ranks 51 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 iBonds 2032 Term High Yield and Income ETF (IBHL) 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.
| IBHL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.37 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.78 | -0.53 |
| Martin ratioReturn relative to average drawdown | 9.86 | 12.44 | -2.58 |
Dividends
Dividend History
iShares iBonds 2032 Term High Yield and Income ETF provided a 6.28% dividend yield over the last twelve months, with an annual payout of $1.59 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $1.59 | $1.26 |
Dividend yield | 6.28% | 4.90% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares iBonds 2032 Term High Yield and 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 | $0.13 | $0.13 | $0.12 | $0.13 | $0.13 | $0.64 | ||||||
| 2025 | $0.16 | $0.15 | $0.14 | $0.14 | $0.13 | $0.14 | $0.14 | $0.26 | $1.26 |
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 2032 Term High Yield and 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 2032 Term High Yield and Income ETF was 3.70%, occurring on Apr 8, 2025. Recovery took 12 trading sessions.
The current iShares iBonds 2032 Term High Yield and Income ETF drawdown is 0.16%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -3.70%Apr 2025 | 5d | 17d | 22dApr 2025 - Apr 2025 |
2026 pullback2026 | -3.03%Mar 2026 | 1mo 2d | 21d | 1mo 23dFeb 2026 - Apr 2026 |
2025 pullback2025 | -1.39%Oct 2025 | 17d | 14d | 1mo 1dSep 2025 - Oct 2025 |
2026 pullback2026 | -1.34%May 2026 | 29d | 10d | 1mo 9dApr 2026 - May 2026 |
2025 pullback2025 | -0.97%Nov 2025 | 20d | 8d | 28dOct 2025 - Nov 2025 |
Drawdown Indicators
| IBHL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.70% | -56.78% | +53.08% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -9.10% | +6.07% |
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 | -0.16% | -1.80% | +1.64% |
Average DrawdownAverage peak-to-trough decline | -0.45% | -10.71% | +10.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 2.03% | -1.34% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Build a portfolio with IBHL
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