CGHY vs. IBHG

Last updated Jul 12, 2026

CGHY (Capital Group High Yield Bond ETF) and IBHG (iShares iBonds 2027 Term High Yield and Income ETF) are both High Yield Bonds funds. Over the past year, CGHY returned 6.22% vs 4.08% for IBHG. A 0.59 correlation means they provide meaningful diversification when combined. CGHY charges 0.39%/yr vs 0.35%/yr for IBHG.

Performance

CGHY vs. IBHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group High Yield Bond ETF (CGHY) and iShares iBonds 2027 Term High Yield and Income ETF (IBHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGHY achieves a 2.14% return, which is significantly higher than IBHG's 1.30% return.

CGHY

• 1D: -0.20%
• 1M: 0.09%
• 6M: 1.82%
• YTD: 2.14%
• 1Y: 6.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBHG

• 1D: -0.07%
• 1M: 0.24%
• 6M: 1.28%
• YTD: 1.30%
• 1Y: 4.08%
• 3Y*: 7.30%
• 5Y*: 3.58%
• 10Y*: —

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

CGHY vs. IBHG - Yearly Performance Comparison

	2026 (YTD)	2025
CGHY Capital Group High Yield Bond ETF	2.14%	3.83%
IBHG iShares iBonds 2027 Term High Yield and Income ETF	1.30%	3.24%

Correlation

The correlation between CGHY and IBHG is 0.60, 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	0.60
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.59

The correlation between CGHY and IBHG has been stable across timeframes, ranging from 0.59 to 0.60 - a consistent structural relationship.

Return for Risk

CGHY vs. IBHG — Risk / Return Rank

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

CGHY

CGHY Risk / Return Rank: 75
CGHY Sharpe Ratio Rank: 73
CGHY Sortino Ratio Rank: 83
CGHY Omega Ratio Rank: 78
CGHY Calmar Ratio Rank: 64
CGHY Martin Ratio Rank: 78

IBHG

IBHG Risk / Return Rank: 89
IBHG Sharpe Ratio Rank: 83
IBHG Sortino Ratio Rank: 88
IBHG Omega Ratio Rank: 84
IBHG Calmar Ratio Rank: 94
IBHG Martin Ratio Rank: 94

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.

CGHY vs. IBHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group High Yield Bond ETF (CGHY) and iShares iBonds 2027 Term High Yield and Income ETF (IBHG). 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.

	CGHY	IBHG	Difference
Sharpe ratio: Return per unit of total volatility	1.86	2.09	-0.24
Sortino ratio: Return per unit of downside risk	2.94	3.24	-0.29
Omega ratio: Gain probability vs. loss probability	1.37	1.40	-0.03
Calmar ratio: Return relative to maximum drawdown	2.58	5.78	-3.20
Martin ratio: Return relative to average drawdown	11.76	21.21	-9.44

CGHY vs. IBHG - Sharpe Ratio Comparison

The current CGHY Sharpe Ratio is 1.86, which is comparable to the IBHG Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of CGHY and IBHG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CGHY vs. IBHG - Drawdown Comparison

The maximum CGHY drawdown since its inception was -2.38%, smaller than the maximum IBHG drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for CGHY and IBHG.

Drawdown Indicators

	CGHY	IBHG	Difference
Max Drawdown Largest peak-to-trough decline	-2.38%	-13.85%	+11.47%
Max Drawdown (1Y) Largest decline over 1 year	-2.38%	-0.73%	-1.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.39%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.85%	—
Current Drawdown Current decline from peak	-0.24%	-0.18%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.30%	-2.62%	+2.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	0.20%	+0.32%

Volatility

CGHY vs. IBHG - Volatility Comparison

Capital Group High Yield Bond ETF (CGHY) has a higher volatility of 0.71% compared to iShares iBonds 2027 Term High Yield and Income ETF (IBHG) at 0.36%. This indicates that CGHY's price experiences larger fluctuations and is considered to be riskier than IBHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGHY	IBHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.71%	0.36%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	2.69%	1.49%	+1.20%
Volatility (1Y) Calculated over the trailing 1-year period	3.30%	2.02%	+1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.28%	6.30%	-3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.28%	6.30%	-3.02%

CGHY vs. IBHG - Expense Ratio Comparison

CGHY has a 0.39% expense ratio, which is higher than IBHG's 0.35% expense ratio.

Dividends

CGHY vs. IBHG - Dividend Comparison

CGHY's dividend yield for the trailing twelve months is around 5.46%, less than IBHG's 6.05% yield.

Position	TTM	2025	2024	2023	2022	2021
CGHY Capital Group High Yield Bond ETF	5.46%	3.09%	0.00%	0.00%	0.00%	0.00%
IBHG iShares iBonds 2027 Term High Yield and Income ETF	6.05%	6.33%	7.02%	6.66%	5.62%	2.13%

Frequently Asked Questions

Can I hold both CGHY and IBHG in my portfolio?

CGHY and IBHG have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGHY or IBHG?

CGHY has higher volatility (0.71%) compared to IBHG (0.36%). In terms of maximum drawdown, CGHY dropped -2.38% vs IBHG's -13.85%.

Which ETF is better, CGHY or IBHG?

On 1-year performance, CGHY leads with 6.22% vs 4.08% for IBHG. On fees, IBHG is cheaper at 0.35% per year. On volatility, IBHG has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGHY or IBHG?

Over the 1-year period, CGHY has performed better with a 6.22% return vs 4.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGHY or IBHG?

IBHG is cheaper with a 0.35% expense ratio, compared with 0.39% for CGHY.

Which ETF pays a higher dividend yield, CGHY or IBHG?

IBHG has the higher dividend yield at 6.05%, compared with 5.46% for CGHY.

What is the main difference between CGHY and IBHG?

They also come from different issuers: Capital Group and iShares. Their fees differ too: 0.39% for CGHY and 0.35% for IBHG.

Which has better risk-adjusted returns?

IBHG currently has the higher Sharpe Ratio (2.09 vs 1.86), 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.