BBIEX vs. USHY
BBIEX (Bridge Builder International Equity Fund) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both funds - BBIEX is a Foreign Large Cap Equities fund managed by Bridge Builder, while USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index. Over the past 5 years, BBIEX returned 4.36%/yr vs 4.16%/yr for USHY. A 0.67 correlation means they provide meaningful diversification when combined. BBIEX charges 0.37%/yr vs 0.15%/yr for USHY.
Performance
BBIEX vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, BBIEX achieves a 5.18% return, which is significantly higher than USHY's 1.29% return.
BBIEX
- 1D
- -2.43%
- 1M
- -0.85%
- YTD
- 5.18%
- 6M
- -2.06%
- 1Y
- 4.24%
- 3Y*
- 11.34%
- 5Y*
- 4.36%
- 10Y*
- 8.06%
USHY
- 1D
- 0.08%
- 1M
- -0.14%
- YTD
- 1.29%
- 6M
- 1.85%
- 1Y
- 6.84%
- 3Y*
- 8.79%
- 5Y*
- 4.16%
- 10Y*
- —
BBIEX vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BBIEX Bridge Builder International Equity Fund | 5.18% | 17.63% | 5.67% | 17.29% | -18.01% | 10.54% | 15.76% | 23.14% | -13.28% | 3.63% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.29% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 6.17% | 14.24% | -2.41% | 0.16% |
Correlation
The correlation between BBIEX and USHY is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.67 |
The correlation between BBIEX and USHY has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.
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Return for Risk
BBIEX vs. USHY — Risk / Return Rank
BBIEX
USHY
BBIEX vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bridge Builder International Equity Fund (BBIEX) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.
| BBIEX | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.36 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | 2.83 | -2.41 |
| Martin ratioReturn relative to average drawdown | 1.31 | 12.68 | -11.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BBIEX | USHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | 1.88 | -1.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.57 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.58 | -0.08 |
Drawdowns
BBIEX vs. USHY - Drawdown Comparison
The maximum BBIEX drawdown since its inception was -32.92%, which is greater than USHY's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for BBIEX and USHY.
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Drawdown Indicators
| BBIEX | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.92% | -22.44% | -10.48% |
Max Drawdown (1Y)Largest decline over 1 year | -11.48% | -2.43% | -9.05% |
Max Drawdown (3Y)Largest decline over 3 years | -13.89% | -4.66% | -9.23% |
Max Drawdown (5Y)Largest decline over 5 years | -32.82% | -15.56% | -17.26% |
Max Drawdown (10Y)Largest decline over 10 years | -32.92% | — | — |
Current DrawdownCurrent decline from peak | -3.36% | -0.41% | -2.95% |
Average DrawdownAverage peak-to-trough decline | -6.91% | -2.66% | -4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.63% | 0.54% | +3.09% |
Volatility
BBIEX vs. USHY - Volatility Comparison
Bridge Builder International Equity Fund (BBIEX) has a higher volatility of 4.14% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.13%. This indicates that BBIEX's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBIEX | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 1.13% | +3.01% |
Volatility (6M)Calculated over the trailing 6-month period | 13.15% | 2.95% | +10.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.59% | 3.67% | +11.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.49% | 7.34% | +9.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.56% | 8.25% | +8.31% |
BBIEX vs. USHY - Expense Ratio Comparison
BBIEX has a 0.37% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
BBIEX vs. USHY - Dividend Comparison
BBIEX has not paid dividends to shareholders, while USHY's dividend yield for the trailing twelve months is around 6.93%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BBIEX Bridge Builder International Equity Fund | 0.00% | 0.00% | 5.34% | 2.46% | 2.34% | 10.17% | 3.80% | 2.29% | 3.54% | 1.97% | 1.40% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.93% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% | 0.00% |
Frequently Asked Questions
BBIEX and USHY have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BBIEX has higher volatility (4.14%) compared to USHY (1.13%). In terms of maximum drawdown, BBIEX dropped -32.92% vs USHY's -22.44%.
USHY currently has the higher Sharpe Ratio (1.88 vs 0.31), 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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