FLBL vs. IBHG
FLBL (Franklin Liberty Senior Loan ETF) and IBHG (iShares iBonds 2027 Term High Yield and Income ETF) are both High Yield Bonds funds. FLBL is actively managed, while IBHG is passively managed. Over the past 3 years, FLBL returned 7.36%/yr vs 7.37%/yr for IBHG. At a 0.39 correlation, their price movements are largely independent. FLBL charges 0.45%/yr vs 0.35%/yr for IBHG.
Performance
FLBL vs. IBHG - Performance Comparison
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Returns By Period
In the year-to-date period, FLBL achieves a 0.91% return, which is significantly lower than IBHG's 0.96% return.
FLBL
- 1D
- 0.00%
- 1M
- 0.45%
- YTD
- 0.91%
- 6M
- 0.70%
- 1Y
- 2.39%
- 3Y*
- 7.36%
- 5Y*
- 5.21%
- 10Y*
- —
IBHG
- 1D
- -0.09%
- 1M
- 0.21%
- YTD
- 0.96%
- 6M
- 1.46%
- 1Y
- 4.61%
- 3Y*
- 7.37%
- 5Y*
- —
- 10Y*
- —
FLBL vs. IBHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FLBL Franklin Liberty Senior Loan ETF | 0.91% | 3.59% | 8.26% | 14.83% | -2.69% | 2.12% |
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 0.96% | 6.90% | 7.42% | 11.27% | -8.88% | 1.07% |
Correlation
The correlation between FLBL and IBHG is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2021 | 0.39 |
The correlation between FLBL and IBHG shifts across timeframes, from 0.25 (1 year) to 0.39 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FLBL vs. IBHG — Risk / Return Rank
FLBL
IBHG
FLBL vs. IBHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Senior Loan ETF (FLBL) 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.
| FLBL | IBHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.42 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 6.38 | -5.62 |
| Martin ratioReturn relative to average drawdown | 2.54 | 23.30 | -20.76 |
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
| FLBL | IBHG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 2.20 | -1.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 0.56 | +0.23 |
Drawdowns
FLBL vs. IBHG - Drawdown Comparison
The maximum FLBL drawdown since its inception was -19.52%, which is greater than IBHG's maximum drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for FLBL and IBHG.
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Drawdown Indicators
| FLBL | IBHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.52% | -13.85% | -5.67% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -0.73% | -2.45% |
Max Drawdown (3Y)Largest decline over 3 years | -3.91% | -3.39% | -0.52% |
Max Drawdown (5Y)Largest decline over 5 years | -6.80% | — | — |
Current DrawdownCurrent decline from peak | -0.09% | -0.22% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -1.00% | -2.67% | +1.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.20% | +0.74% |
Volatility
FLBL vs. IBHG - Volatility Comparison
Franklin Liberty Senior Loan ETF (FLBL) has a higher volatility of 0.65% compared to iShares iBonds 2027 Term High Yield and Income ETF (IBHG) at 0.58%. This indicates that FLBL'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.
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Volatility by Period
| FLBL | IBHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 0.58% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.23% | 1.53% | +0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.60% | 2.11% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.86% | 6.37% | -2.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.72% | 6.37% | -0.65% |
FLBL vs. IBHG - Expense Ratio Comparison
FLBL has a 0.45% expense ratio, which is higher than IBHG's 0.35% expense ratio.
Dividends
FLBL vs. IBHG - Dividend Comparison
FLBL's dividend yield for the trailing twelve months is around 7.58%, more than IBHG's 6.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FLBL Franklin Liberty Senior Loan ETF | 7.58% | 7.24% | 8.05% | 8.37% | 5.53% | 3.57% | 3.22% | 3.97% | 2.21% |
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 6.08% | 6.33% | 7.02% | 6.66% | 5.62% | 2.13% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FLBL and IBHG have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLBL has higher volatility (0.65%) compared to IBHG (0.58%). In terms of maximum drawdown, FLBL dropped -19.52% vs IBHG's -13.85%.
On 3-year performance, IBHG leads with 7.37% vs 7.36% for FLBL. On fees, IBHG is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IBHG has performed better with a 7.37% return vs 7.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHG is cheaper with a 0.35% expense ratio, compared with 0.45% for FLBL.
FLBL has the higher dividend yield at 7.58%, compared with 6.08% for IBHG.
They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.45% for FLBL and 0.35% for IBHG.
IBHG currently has the higher Sharpe Ratio (2.20 vs 0.92), 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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