EUHY vs. IBHE
EUHY (iShares Euro High Yield Corporate Bond USD Hedged ETF) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both High Yield Bonds funds from iShares - EUHY tracks the BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index while IBHE tracks the Bloomberg 2025 Term High Yield and Income Index. Both are passively managed. Over the past 5 years, EUHY returned 1.97%/yr vs 3.89%/yr for IBHE. At a 0.42 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.
Performance
EUHY vs. IBHE - Performance Comparison
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Returns By Period
EUHY
- 1D
- 0.12%
- 1M
- 0.98%
- YTD
- 2.05%
- 6M
- 2.59%
- 1Y
- 5.75%
- 3Y*
- 9.92%
- 5Y*
- 1.97%
- 10Y*
- 3.67%
IBHE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.13%
- 1Y
- 2.05%
- 3Y*
- 5.99%
- 5Y*
- 3.89%
- 10Y*
- —
EUHY vs. IBHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 2.05% | 17.41% | -0.55% | 16.06% | -15.59% | -3.78% | 10.69% | 5.02% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 0.00% | 4.45% | 7.62% | 10.32% | -4.08% | 4.40% | 4.16% | 5.91% |
Correlation
The correlation between EUHY and IBHE is 0.00, 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 | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since May 10, 2019 | 0.42 |
Over the past year, the correlation between EUHY and IBHE has dropped to 0.00 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
EUHY vs. IBHE — Risk / Return Rank
EUHY
IBHE
EUHY vs. IBHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) 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.
| EUHY | IBHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.26 | ||
| Sortino ratioReturn per unit of downside risk | -4.10 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 2.06 | -0.86 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 22.58 | -20.93 |
| Martin ratioReturn relative to average drawdown | 3.95 | 88.89 | -84.94 |
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
| EUHY | IBHE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 3.31 | -2.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.83 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.41 | -0.06 |
Drawdowns
EUHY vs. IBHE - Drawdown Comparison
The maximum EUHY drawdown since its inception was -32.45%, which is greater than IBHE's maximum drawdown of -26.91%. Use the drawdown chart below to compare losses from any high point for EUHY and IBHE.
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Drawdown Indicators
| EUHY | IBHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.45% | -26.91% | -5.54% |
Max Drawdown (1Y)Largest decline over 1 year | -3.50% | -0.11% | -3.39% |
Max Drawdown (3Y)Largest decline over 3 years | -8.23% | -0.94% | -7.29% |
Max Drawdown (5Y)Largest decline over 5 years | -32.45% | -8.51% | -23.94% |
Max Drawdown (10Y)Largest decline over 10 years | -32.45% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | 0.00% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -1.42% | -7.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 0.05% | +1.41% |
Volatility
EUHY vs. IBHE - Volatility Comparison
iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) has a higher volatility of 1.07% compared to iShares iBonds 2025 Term High Yield & Income ETF (IBHE) at 0.00%. This indicates that EUHY's price experiences larger fluctuations and is considered to be riskier than IBHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUHY | IBHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 0.00% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.88% | 0.39% | +2.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.51% | 0.78% | +4.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.00% | 4.87% | +5.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.43% | 11.52% | -1.09% |
EUHY vs. IBHE - Expense Ratio Comparison
Both EUHY and IBHE have an expense ratio of 0.35%.
Dividends
EUHY vs. IBHE - Dividend Comparison
EUHY's dividend yield for the trailing twelve months is around 5.33%, more than IBHE's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 5.33% | 3.56% | 5.11% | 3.38% | 0.61% | 3.07% | 1.45% | 1.19% | 4.01% | 0.69% | 1.70% | 3.24% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 2.29% | 4.53% | 6.92% | 7.17% | 5.77% | 4.84% | 5.74% | 3.73% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EUHY and IBHE have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EUHY has higher volatility (1.07%) compared to IBHE (0.00%). In terms of maximum drawdown, EUHY dropped -32.45% vs IBHE's -26.91%.
On 5-year performance, IBHE leads with 3.89% vs 1.97% for EUHY. Both ETFs have the same 0.35% expense ratio. On volatility, IBHE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBHE has performed better with a 3.89% return vs 1.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EUHY and IBHE have the same expense ratio: 0.35% per year.
EUHY has the higher dividend yield at 5.33%, compared with 2.29% for IBHE.
EUHY tracks BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index, while IBHE tracks Bloomberg 2025 Term High Yield and Income Index.
IBHE currently has the higher Sharpe Ratio (3.31 vs 1.05), 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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