AVIG vs. IHY
AVIG (Avantis Core Fixed Income ETF) and IHY (VanEck Vectors International High Yield Bond ETF) are both exchange-traded funds - AVIG is a Intermediate Core Bond fund actively managed by Avantis, while IHY is a High Yield Bonds fund tracking the Bank of America Merrill Lynch Global Ex-‐US Issuers High Yield Constrained Index. AVIG is actively managed, while IHY is passively managed. Over the past 5 years, AVIG returned 0.08%/yr vs 1.76%/yr for IHY. At a 0.44 correlation, their price movements are largely independent. AVIG charges 0.15%/yr vs 0.40%/yr for IHY.
Performance
AVIG vs. IHY - Performance Comparison
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Returns By Period
In the year-to-date period, AVIG achieves a 0.10% return, which is significantly lower than IHY's 0.84% return.
AVIG
- 1D
- -0.25%
- 1M
- 0.39%
- YTD
- 0.10%
- 6M
- 0.25%
- 1Y
- 4.63%
- 3Y*
- 4.41%
- 5Y*
- 0.08%
- 10Y*
- —
IHY
- 1D
- -0.30%
- 1M
- 0.19%
- YTD
- 0.84%
- 6M
- 1.08%
- 1Y
- 5.40%
- 3Y*
- 8.57%
- 5Y*
- 1.76%
- 10Y*
- 4.21%
AVIG vs. IHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AVIG Avantis Core Fixed Income ETF | 0.10% | 7.98% | 1.55% | 6.41% | -13.94% | -2.15% | 0.86% |
IHY VanEck Vectors International High Yield Bond ETF | 0.84% | 13.39% | 3.55% | 12.11% | -14.34% | -2.82% | 6.47% |
Correlation
The correlation between AVIG and IHY is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.44 |
The correlation between AVIG and IHY shifts across timeframes, from 0.44 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AVIG vs. IHY — Risk / Return Rank
AVIG
IHY
AVIG vs. IHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Core Fixed Income ETF (AVIG) and VanEck Vectors International High Yield Bond ETF (IHY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| AVIG | IHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.18 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.14 | +0.51 |
| Martin ratioReturn relative to average drawdown | 4.71 | 4.06 | +0.65 |
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Drawdowns
AVIG vs. IHY - Drawdown Comparison
The maximum AVIG drawdown since its inception was -19.64%, smaller than the maximum IHY drawdown of -27.63%. Use the drawdown chart below to compare losses from any high point for AVIG and IHY.
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Drawdown Indicators
| AVIG | IHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -27.63% | +7.99% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -4.75% | +1.93% |
Max Drawdown (3Y)Largest decline over 3 years | -6.03% | -4.75% | -1.28% |
Max Drawdown (5Y)Largest decline over 5 years | -19.47% | -26.92% | +7.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.63% | — |
Current DrawdownCurrent decline from peak | -1.63% | -1.22% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -7.70% | -5.26% | -2.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 1.33% | -0.34% |
Volatility
AVIG vs. IHY - Volatility Comparison
The current volatility for Avantis Core Fixed Income ETF (AVIG) is 1.15%, while VanEck Vectors International High Yield Bond ETF (IHY) has a volatility of 1.45%. This indicates that AVIG experiences smaller price fluctuations and is considered to be less risky than IHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVIG | IHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.45% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.97% | 4.03% | -1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 5.43% | -1.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 7.74% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.99% | 7.71% | -1.72% |
AVIG vs. IHY - Expense Ratio Comparison
AVIG has a 0.15% expense ratio, which is lower than IHY's 0.40% expense ratio.
Dividends
AVIG vs. IHY - Dividend Comparison
AVIG's dividend yield for the trailing twelve months is around 4.38%, less than IHY's 5.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVIG Avantis Core Fixed Income ETF | 4.38% | 4.36% | 4.66% | 4.06% | 2.53% | 1.12% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IHY VanEck Vectors International High Yield Bond ETF | 5.70% | 5.31% | 5.60% | 5.26% | 4.97% | 4.55% | 4.65% | 4.86% | 4.70% | 4.36% | 5.11% | 5.79% |
Frequently Asked Questions
AVIG and IHY have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHY has higher volatility (1.45%) compared to AVIG (1.15%). In terms of maximum drawdown, AVIG dropped -19.64% vs IHY's -27.63%.
On 5-year performance, IHY leads with 1.76% vs 0.08% for AVIG. On fees, AVIG is cheaper at 0.15% per year. On volatility, AVIG has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IHY has performed better with a 1.76% return vs 0.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVIG is cheaper with a 0.15% expense ratio, compared with 0.40% for IHY.
IHY has the higher dividend yield at 5.70%, compared with 4.38% for AVIG.
AVIG is categorized as Intermediate Core Bond, while IHY is High Yield Bonds. They also come from different issuers: Avantis and VanEck. Their fees differ too: 0.15% for AVIG and 0.40% for IHY.
AVIG currently has the higher Sharpe Ratio (1.22 vs 1.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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