BHYB vs. IBHE
BHYB (Xtrackers USD High Yield BB-B ex Financials ETF) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both High Yield Bonds funds - BHYB tracks the ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross while IBHE tracks the Bloomberg 2025 Term High Yield and Income Index. Both are passively managed. Over the past year, BHYB returned 7.34% vs 2.31% for IBHE. At a 0.42 correlation, their price movements are largely independent. BHYB charges 0.20%/yr vs 0.35%/yr for IBHE.
Performance
BHYB vs. IBHE - Performance Comparison
Loading charts...
Returns By Period
BHYB
- 1D
- -0.18%
- 1M
- 0.48%
- YTD
- 1.69%
- 6M
- 1.99%
- 1Y
- 7.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBHE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.09%
- 1Y
- 2.31%
- 3Y*
- 6.07%
- 5Y*
- 3.89%
- 10Y*
- —
BHYB vs. IBHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 1.69% | 8.90% | 6.44% | 8.23% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 0.00% | 4.45% | 7.62% | 3.50% |
Correlation
The correlation between BHYB and IBHE is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2023 | 0.42 |
Over the past year, the correlation between BHYB and IBHE has dropped to 0.04 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BHYB vs. IBHE — Risk / Return Rank
BHYB
IBHE
BHYB vs. IBHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers USD High Yield BB-B ex Financials ETF (BHYB) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). 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.
| BHYB | IBHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -2.92 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 2.19 | -0.75 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 12.78 | -9.54 |
| Martin ratioReturn relative to average drawdown | 14.88 | 63.40 | -48.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BHYB | IBHE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 3.51 | -1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.83 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.10 | 0.41 | +1.70 |
Drawdowns
BHYB vs. IBHE - Drawdown Comparison
The maximum BHYB drawdown since its inception was -4.23%, smaller than the maximum IBHE drawdown of -26.91%. Use the drawdown chart below to compare losses from any high point for BHYB and IBHE.
Loading charts...
Drawdown Indicators
| BHYB | IBHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.23% | -26.91% | +22.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -0.22% | -2.05% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.94% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.51% | — |
Current DrawdownCurrent decline from peak | -0.21% | 0.00% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -0.40% | -1.42% | +1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 0.05% | +0.44% |
Volatility
BHYB vs. IBHE - Volatility Comparison
Xtrackers USD High Yield BB-B ex Financials ETF (BHYB) has a higher volatility of 1.02% compared to iShares iBonds 2025 Term High Yield & Income ETF (IBHE) at 0.00%. This indicates that BHYB's price experiences larger fluctuations and is considered to be riskier than IBHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BHYB | IBHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 0.00% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 0.39% | +2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 0.78% | +2.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.71% | 4.87% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.71% | 11.53% | -6.82% |
BHYB vs. IBHE - Expense Ratio Comparison
BHYB has a 0.20% expense ratio, which is lower than IBHE's 0.35% expense ratio.
Dividends
BHYB vs. IBHE - Dividend Comparison
BHYB's dividend yield for the trailing twelve months is around 6.33%, more than IBHE's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 6.33% | 6.57% | 7.04% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 2.29% | 4.53% | 6.92% | 7.17% | 5.77% | 4.84% | 5.74% | 3.73% |
Frequently Asked Questions
BHYB and IBHE have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BHYB has higher volatility (1.02%) compared to IBHE (0.00%). In terms of maximum drawdown, BHYB dropped -4.23% vs IBHE's -26.91%.
On 1-year performance, BHYB leads with 7.34% vs 2.31% for IBHE. On fees, BHYB is cheaper at 0.20% per year. On volatility, IBHE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BHYB has performed better with a 7.34% return vs 2.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BHYB is cheaper with a 0.20% expense ratio, compared with 0.35% for IBHE.
BHYB has the higher dividend yield at 6.33%, compared with 2.29% for IBHE.
BHYB tracks ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross, while IBHE tracks Bloomberg 2025 Term High Yield and Income Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.20% for BHYB and 0.35% for IBHE.
IBHE currently has the higher Sharpe Ratio (3.51 vs 2.17), 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.
Find the right allocation for BHYB and IBHE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer