BYLD vs. IGEB
Compare and contrast key facts about iShares Yield Optimized Bond ETF (BYLD) and iShares Investment Grade Bond Factor ETF (IGEB).
BYLD and IGEB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BYLD is a passively managed fund by iShares that tracks the performance of the Morningstar U.S. Bond Market Yield-Optimized Index. It was launched on Apr 22, 2014. IGEB is a passively managed fund by iShares that tracks the performance of the BlackRock Investment Grade Enhanced Bond Index. It was launched on Jul 11, 2017. Both BYLD and IGEB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BYLD or IGEB.
Key characteristics
| BYLD | IGEB | |
|---|---|---|
| YTD Return | -1.23% | -2.54% |
| 1Y Return | 4.45% | 3.14% |
| 3Y Return (Ann) | -0.95% | -2.50% |
| 5Y Return (Ann) | 1.15% | 1.86% |
| Sharpe Ratio | 0.74 | 0.27 |
| Daily Std Dev | 5.38% | 7.02% |
| Max Drawdown | -14.75% | -21.13% |
| Current Drawdown | -4.92% | -10.68% |
Correlation
The correlation between BYLD and IGEB is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
BYLD vs. IGEB - Performance Comparison
In the year-to-date period, BYLD achieves a -1.23% return, which is significantly higher than IGEB's -2.54% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BYLD vs. IGEB - Expense Ratio Comparison
BYLD has a 0.20% expense ratio, which is higher than IGEB's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
BYLD vs. IGEB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Yield Optimized Bond ETF (BYLD) and iShares Investment Grade Bond Factor ETF (IGEB). 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.
Dividends
BYLD vs. IGEB - Dividend Comparison
BYLD's dividend yield for the trailing twelve months is around 4.72%, more than IGEB's 4.56% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
BYLD iShares Yield Optimized Bond ETF | 4.38% | 4.81% | 3.39% | 2.18% | 3.41% | 3.67% | 4.22% | 3.22% | 3.14% | 3.37% | 2.12% |
IGEB iShares Investment Grade Bond Factor ETF | 4.56% | 4.60% | 3.61% | 3.84% | 3.78% | 5.62% | 3.59% | 1.61% | 0.00% | 0.00% | 0.00% |
Drawdowns
BYLD vs. IGEB - Drawdown Comparison
The maximum BYLD drawdown since its inception was -14.75%, smaller than the maximum IGEB drawdown of -21.13%. Use the drawdown chart below to compare losses from any high point for BYLD and IGEB. For additional features, visit the drawdowns tool.
Volatility
BYLD vs. IGEB - Volatility Comparison
The current volatility for iShares Yield Optimized Bond ETF (BYLD) is 1.73%, while iShares Investment Grade Bond Factor ETF (IGEB) has a volatility of 1.93%. This indicates that BYLD experiences smaller price fluctuations and is considered to be less risky than IGEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.