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CRED.AX vs. IHCB.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CRED.AX vs. IHCB.AX

Last updated Jul 16, 2026
Documentation

CRED.AX (Betashares Australian Investment Grade Corporate Bond ETF) and IHCB.AX (iShares Core Global Corporate Bond (AUD Hedged) ETF) are both Corporate Bonds funds - CRED.AX tracks the Solactive Australian Investment Grade Corporate Bond Select TR Index while IHCB.AX tracks the iShares Core Global Corporate Bond (AUD Hedged) Index. Both are passively managed. Over the past 5 years, CRED.AX returned 0.47%/yr vs -0.68%/yr for IHCB.AX. At a 0.49 correlation, their price movements are largely independent.

Performance

CRED.AX vs. IHCB.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Betashares Australian Investment Grade Corporate Bond ETF (CRED.AX) and iShares Core Global Corporate Bond (AUD Hedged) ETF (IHCB.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CRED.AX achieves a 0.80% return, which is significantly higher than IHCB.AX's 0.35% return.

CRED.AX

1D
0.09%
1M
0.08%
6M
0.11%
YTD
0.80%
1Y
1.25%
3Y*
5.74%
5Y*
0.47%
10Y*
—

IHCB.AX

1D
0.10%
1M
-0.62%
6M
0.19%
YTD
0.35%
1Y
3.71%
3Y*
4.52%
5Y*
-0.68%
10Y*
1.31%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CRED.AX vs. IHCB.AX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
CRED.AX
Betashares Australian Investment Grade Corporate Bond ETF		0.80%4.54%6.26%10.78%-14.47%-3.35%7.78%11.29%3.70%
IHCB.AX
iShares Core Global Corporate Bond (AUD Hedged) ETF		0.35%6.31%2.34%6.23%-15.93%-1.45%5.96%10.36%0.30%

Correlation

The correlation between CRED.AX and IHCB.AX is 0.55, 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

0.55

Correlation (3Y)
Calculated over the trailing 3-year period

0.60

Correlation (5Y)
Calculated over the trailing 5-year period

0.60

Correlation (All Time)
Calculated using the full available price history since May 31, 2018

0.49

The correlation between CRED.AX and IHCB.AX shifts across timeframes, from 0.49 (all time) to 0.60 (3 years), reflecting how their relationship changes across market environments.

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Betashares Australian Investment Grade Corporate Bond ETF

iShares Core Global Corporate Bond (AUD Hedged) ETF

Return for Risk

CRED.AX vs. IHCB.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CRED.AX
CRED.AX Risk / Return Rank: 1212
Overall Rank
CRED.AX Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
CRED.AX Sortino Ratio Rank: 1212
Sortino Ratio Rank
CRED.AX Omega Ratio Rank: 1212
Omega Ratio Rank
CRED.AX Calmar Ratio Rank: 1212
Calmar Ratio Rank
CRED.AX Martin Ratio Rank: 1212
Martin Ratio Rank
IHCB.AX
IHCB.AX Risk / Return Rank: 2828
Overall Rank
IHCB.AX Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
IHCB.AX Sortino Ratio Rank: 2525
Sortino Ratio Rank
IHCB.AX Omega Ratio Rank: 2525
Omega Ratio Rank
IHCB.AX Calmar Ratio Rank: 3030
Calmar Ratio Rank
IHCB.AX Martin Ratio Rank: 3333
Martin Ratio Rank
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.

CRED.AX vs. IHCB.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Betashares Australian Investment Grade Corporate Bond ETF (CRED.AX) and iShares Core Global Corporate Bond (AUD Hedged) ETF (IHCB.AX). 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.

CRED.AXIHCB.AXDifference
Sharpe ratioReturn per unit of total volatility
0.29
0.84

-0.55

Sortino ratioReturn per unit of downside risk
0.44
1.22

-0.78

Omega ratioGain probability vs. loss probability

1.05

1.15

-0.10

Calmar ratioReturn relative to maximum drawdown

0.23

1.28

-1.05

Martin ratioReturn relative to average drawdown

0.46

3.95

-3.50

CRED.AX vs. IHCB.AX - Sharpe Ratio Comparison

The current CRED.AX Sharpe Ratio is 0.29, which is lower than the IHCB.AX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of CRED.AX and IHCB.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

CRED.AX vs. IHCB.AX - Drawdown Comparison

The maximum CRED.AX drawdown since its inception was -21.76%, roughly equal to the maximum IHCB.AX drawdown of -21.96%. Use the drawdown chart below to compare losses from any high point for CRED.AX and IHCB.AX.

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Drawdown Indicators

CRED.AXIHCB.AXDifference

Max Drawdown

Largest peak-to-trough decline

-21.76%

-21.96%

+0.20%

Max Drawdown (1Y)

Largest decline over 1 year

-5.54%

-2.75%

-2.79%

Max Drawdown (3Y)

Largest decline over 3 years

-5.54%

-5.96%

+0.42%

Max Drawdown (5Y)

Largest decline over 5 years

-21.76%

-21.96%

+0.20%

Max Drawdown (10Y)

Largest decline over 10 years

—

-21.96%

—

Current Drawdown

Current decline from peak

-2.41%

-4.16%

+1.75%

Average Drawdown

Average peak-to-trough decline

-5.72%

-5.67%

-0.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

0.90%

+1.97%

Volatility

CRED.AX vs. IHCB.AX - Volatility Comparison

Betashares Australian Investment Grade Corporate Bond ETF (CRED.AX) and iShares Core Global Corporate Bond (AUD Hedged) ETF (IHCB.AX) have volatilities of 0.90% and 0.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CRED.AXIHCB.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.90%

0.88%

+0.02%

Volatility (6M)

Calculated over the trailing 6-month period

3.70%

3.56%

+0.14%

Volatility (1Y)

Calculated over the trailing 1-year period

4.46%

4.19%

+0.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.36%

7.42%

-1.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.21%

8.48%

-2.27%

Dividends

CRED.AX vs. IHCB.AX - Dividend Comparison

CRED.AX's dividend yield for the trailing twelve months is around 3.93%, less than IHCB.AX's 4.24% yield.

PositionTTM2025202420232022202120202019201820172016
CRED.AX
Betashares Australian Investment Grade Corporate Bond ETF		3.93%4.49%4.01%4.53%3.53%5.14%4.29%3.35%1.82%0.00%0.00%
IHCB.AX
iShares Core Global Corporate Bond (AUD Hedged) ETF		4.24%4.46%4.47%3.22%1.19%3.35%2.49%1.40%1.77%3.91%0.45%

Frequently Asked Questions

CRED.AX and IHCB.AX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CRED.AX tracks Solactive Australian Investment Grade Corporate Bond Select TR Index, while IHCB.AX tracks iShares Core Global Corporate Bond (AUD Hedged) Index. They also come from different issuers: BetaShares and iShares.

Portfolio Optimizer

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