BSCW vs. USHY
BSCW (Invesco BulletShares 2032 Corporate Bond ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both exchange-traded funds - BSCW is a Corporate Bonds fund tracking the Invesco BulletShares Corporate Bond 2032 Index, while USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 3 years, BSCW returned 5.69%/yr vs 9.01%/yr for USHY. A 0.65 correlation means they provide meaningful diversification when combined. BSCW charges 0.10%/yr vs 0.15%/yr for USHY.
Performance
BSCW vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, BSCW achieves a 0.29% return, which is significantly lower than USHY's 1.64% return.
BSCW
- 1D
- 0.12%
- 1M
- 0.14%
- YTD
- 0.29%
- 6M
- 0.52%
- 1Y
- 5.40%
- 3Y*
- 5.69%
- 5Y*
- —
- 10Y*
- —
USHY
- 1D
- 0.22%
- 1M
- 0.46%
- YTD
- 1.64%
- 6M
- 1.98%
- 1Y
- 6.99%
- 3Y*
- 9.01%
- 5Y*
- 4.29%
- 10Y*
- —
BSCW vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BSCW Invesco BulletShares 2032 Corporate Bond ETF | 0.29% | 9.00% | 2.20% | 9.31% | 0.31% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.64% | 8.81% | 8.45% | 12.73% | -0.79% |
Correlation
The correlation between BSCW and USHY is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2022 | 0.65 |
The correlation between BSCW 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
BSCW vs. USHY — Risk / Return Rank
BSCW
USHY
BSCW vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2032 Corporate Bond ETF (BSCW) 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.
| BSCW | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.37 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 2.89 | -0.96 |
| Martin ratioReturn relative to average drawdown | 6.30 | 12.99 | -6.68 |
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
| BSCW | USHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.41 | 1.93 | -0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.58 | +0.19 |
Drawdowns
BSCW vs. USHY - Drawdown Comparison
The maximum BSCW drawdown since its inception was -8.32%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for BSCW and USHY.
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Drawdown Indicators
| BSCW | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.32% | -22.44% | +14.12% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -2.43% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -7.24% | -4.66% | -2.58% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.56% | — |
Current DrawdownCurrent decline from peak | -1.30% | -0.06% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -1.82% | -2.66% | +0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.54% | +0.32% |
Volatility
BSCW vs. USHY - Volatility Comparison
Invesco BulletShares 2032 Corporate Bond ETF (BSCW) has a higher volatility of 1.20% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.14%. This indicates that BSCW'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
| BSCW | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.14% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 2.92% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 3.65% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.23% | 7.34% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.23% | 8.25% | -1.02% |
BSCW vs. USHY - Expense Ratio Comparison
BSCW has a 0.10% expense ratio, which is lower than USHY's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BSCW vs. USHY - Dividend Comparison
BSCW's dividend yield for the trailing twelve months is around 4.82%, less than USHY's 6.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BSCW Invesco BulletShares 2032 Corporate Bond ETF | 4.82% | 4.81% | 5.06% | 4.80% | 1.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.91% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% |
Frequently Asked Questions
BSCW and USHY have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSCW has higher volatility (1.20%) compared to USHY (1.14%). In terms of maximum drawdown, BSCW dropped -8.32% vs USHY's -22.44%.
On 3-year performance, USHY leads with 9.01% vs 5.69% for BSCW. On fees, BSCW is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, USHY has performed better with a 9.01% return vs 5.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSCW is cheaper with a 0.10% expense ratio, compared with 0.15% for USHY.
USHY has the higher dividend yield at 6.91%, compared with 4.82% for BSCW.
BSCW is categorized as Corporate Bonds, while USHY is High Yield Bonds. BSCW tracks Invesco BulletShares Corporate Bond 2032 Index, while USHY tracks ICE BofA US High Yield Constrained Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.10% for BSCW and 0.15% for USHY.
USHY currently has the higher Sharpe Ratio (1.93 vs 1.41), 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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