BSJW vs. IBHE

Last updated Jul 18, 2026

BSJW (Invesco BulletShares 2032 High Yield Corporate Bond ETF) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both High Yield Bonds funds - BSJW tracks the Nasdaq BulletShares USD High Yield Corporate Bond 2032 Index while IBHE tracks the Bloomberg 2025 Term High Yield and Income Index. Both are passively managed. At a 0.26 correlation, their price movements are largely independent. BSJW charges 0.42%/yr vs 0.35%/yr for IBHE.

Performance

BSJW vs. IBHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2032 High Yield Corporate Bond ETF (BSJW) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BSJW

• 1D: 0.08%
• 1M: 0.81%
• 6M: 0.96%
• YTD: 1.54%
• 1Y: 6.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBHE

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BSJW vs. IBHE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BSJW Invesco BulletShares 2032 High Yield Corporate Bond ETF	1.54%	9.85%	3.62%
IBHE iShares iBonds 2025 Term High Yield & Income ETF	0.00%	4.45%	3.70%

Correlation

The correlation between BSJW 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 Jun 12, 2024	0.26

The correlation between BSJW and IBHE shifts across timeframes, from -0.04 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BSJW vs. IBHE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BSJW

BSJW Risk / Return Rank: 61
BSJW Sharpe Ratio Rank: 59
BSJW Sortino Ratio Rank: 65
BSJW Omega Ratio Rank: 64
BSJW Calmar Ratio Rank: 50
BSJW Martin Ratio Rank: 67

IBHE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BSJW vs. IBHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2032 High Yield Corporate Bond ETF (BSJW) 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.

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.

	BSJW	IBHE	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	2.30	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	1.93	—	—
Martin ratio: Return relative to average drawdown	8.88	—	—

Drawdowns

Drawdown Indicators

	BSJW	IBHE	Difference
Max Drawdown Largest peak-to-trough decline	-4.52%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.22%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-0.53%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	—	—

Volatility

Volatility by Period

	BSJW	IBHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.36%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.15%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.03%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.03%	—	—

BSJW vs. IBHE - Expense Ratio Comparison

BSJW has a 0.42% expense ratio, which is higher than IBHE's 0.35% expense ratio.

Dividends

BSJW vs. IBHE - Dividend Comparison

BSJW's dividend yield for the trailing twelve months is around 6.59%, while IBHE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BSJW Invesco BulletShares 2032 High Yield Corporate Bond ETF	6.59%	6.36%	4.15%	0.00%	0.00%	0.00%	0.00%	0.00%
IBHE iShares iBonds 2025 Term High Yield & Income ETF	1.87%	4.53%	6.92%	7.17%	5.77%	4.84%	5.74%	3.73%

Frequently Asked Questions

Can I hold both BSJW and IBHE in my portfolio?

BSJW 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.

Which ETF is better, BSJW or IBHE?

On fees, IBHE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSJW or IBHE?

IBHE is cheaper with a 0.35% expense ratio, compared with 0.42% for BSJW.

Which ETF pays a higher dividend yield, BSJW or IBHE?

BSJW has the higher dividend yield at 6.59%, compared with 1.87% for IBHE.

What is the main difference between BSJW and IBHE?

BSJW tracks Nasdaq BulletShares USD High Yield Corporate Bond 2032 Index, while IBHE tracks Bloomberg 2025 Term High Yield and Income Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.42% for BSJW and 0.35% for IBHE.