GHYB vs. IGEB

Last updated Jun 3, 2026

GHYB (Goldman Sachs Access High Yield Corporate Bond ETF) and IGEB (iShares Investment Grade Bond Factor ETF) are both exchange-traded funds - GHYB is a High Yield Bonds fund tracking the FTSE Goldman Sachs High Yield Corporate Bond Index, while IGEB is a Corporate Bonds fund tracking the BlackRock Investment Grade Enhanced Bond Index. Both are passively managed. Over the past 5 years, GHYB returned 4.11%/yr vs 1.25%/yr for IGEB. At a 0.47 correlation, their price movements are largely independent. GHYB charges 0.34%/yr vs 0.18%/yr for IGEB.

Performance

GHYB vs. IGEB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) and iShares Investment Grade Bond Factor ETF (IGEB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GHYB achieves a 1.52% return, which is significantly higher than IGEB's 0.64% return.

GHYB

• 1D: 0.15%
• 1M: 0.44%
• YTD: 1.52%
• 6M: 1.92%
• 1Y: 7.58%
• 3Y*: 8.68%
• 5Y*: 4.11%
• 10Y*: —

IGEB

• 1D: -0.03%
• 1M: 0.48%
• YTD: 0.64%
• 6M: 0.77%
• 1Y: 6.24%
• 3Y*: 5.96%
• 5Y*: 1.25%
• 10Y*: —

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

GHYB vs. IGEB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GHYB Goldman Sachs Access High Yield Corporate Bond ETF	1.52%	9.38%	7.76%	12.13%	-11.02%	3.21%	6.38%	14.55%	-2.01%	0.27%
IGEB iShares Investment Grade Bond Factor ETF	0.64%	8.17%	3.10%	9.56%	-14.85%	-1.14%	11.23%	15.42%	-2.05%	-0.28%

Correlation

The correlation between GHYB and IGEB is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Sep 8, 2017	0.47

The correlation between GHYB and IGEB shifts across timeframes, from 0.47 (all time) to 0.68 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

GHYB vs. IGEB — Risk / Return Rank

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

GHYB

GHYB Risk / Return Rank: 66
GHYB Sharpe Ratio Rank: 65
GHYB Sortino Ratio Rank: 70
GHYB Omega Ratio Rank: 70
GHYB Calmar Ratio Rank: 56
GHYB Martin Ratio Rank: 69

IGEB

IGEB Risk / Return Rank: 42
IGEB Sharpe Ratio Rank: 42
IGEB Sortino Ratio Rank: 44
IGEB Omega Ratio Rank: 41
IGEB Calmar Ratio Rank: 42
IGEB Martin Ratio Rank: 42

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.

GHYB vs. IGEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) 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.

	GHYB	IGEB	Difference
Sharpe ratio Return per unit of total volatility	2.18	1.51	+0.68
Sortino ratio Return per unit of downside risk	3.25	2.22	+1.03
Omega ratio Gain probability vs. loss probability	1.43	1.27	+0.16
Calmar ratio Return relative to maximum drawdown	2.81	2.09	+0.71
Martin ratio Return relative to average drawdown	12.88	6.88	+6.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GHYB vs. IGEB - Sharpe Ratio Comparison

The current GHYB Sharpe Ratio is 2.18, which is higher than the IGEB Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of GHYB and IGEB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GHYB	IGEB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	1.51	+0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.19	+0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.49	+0.06

Drawdowns

GHYB vs. IGEB - Drawdown Comparison

The maximum GHYB drawdown since its inception was -21.48%, roughly equal to the maximum IGEB drawdown of -21.13%. Use the drawdown chart below to compare losses from any high point for GHYB and IGEB.

Drawdown Indicators

	GHYB	IGEB	Difference
Max Drawdown Largest peak-to-trough decline	-21.48%	-21.13%	-0.35%
Max Drawdown (1Y) Largest decline over 1 year	-2.67%	-2.88%	+0.21%
Max Drawdown (3Y) Largest decline over 3 years	-4.66%	-5.97%	+1.31%
Max Drawdown (5Y) Largest decline over 5 years	-16.08%	-21.13%	+5.05%
Current Drawdown Current decline from peak	0.00%	-0.81%	+0.81%
Average Drawdown Average peak-to-trough decline	-2.57%	-4.90%	+2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	0.88%	-0.30%

Volatility

GHYB vs. IGEB - Volatility Comparison

The current volatility for Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) is 1.04%, while iShares Investment Grade Bond Factor ETF (IGEB) has a volatility of 1.35%. This indicates that GHYB 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.

Volatility by Period

	GHYB	IGEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	1.35%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	2.70%	3.09%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	3.48%	4.16%	-0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.69%	6.70%	+0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.28%	6.52%	+1.76%

GHYB vs. IGEB - Expense Ratio Comparison

GHYB has a 0.34% expense ratio, which is higher than IGEB's 0.18% expense ratio.

Dividends

GHYB vs. IGEB - Dividend Comparison

GHYB's dividend yield for the trailing twelve months is around 6.79%, more than IGEB's 5.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GHYB Goldman Sachs Access High Yield Corporate Bond ETF	6.79%	7.00%	6.65%	6.20%	5.67%	4.46%	4.75%	5.57%	5.68%	1.45%
IGEB iShares Investment Grade Bond Factor ETF	5.05%	4.92%	5.09%	4.60%	3.64%	3.84%	3.78%	5.61%	3.59%	1.62%

Frequently Asked Questions

Can I hold both GHYB and IGEB in my portfolio?

GHYB and IGEB have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GHYB or IGEB?

IGEB has higher volatility (1.35%) compared to GHYB (1.04%). In terms of maximum drawdown, GHYB dropped -21.48% vs IGEB's -21.13%.

Which ETF is better, GHYB or IGEB?

On 5-year performance, GHYB leads with 4.11% vs 1.25% for IGEB. On fees, IGEB is cheaper at 0.18% per year. On volatility, GHYB has been the lower-risk option at 1.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GHYB or IGEB?

Over the 5-year period, GHYB has performed better with a 4.11% return vs 1.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GHYB or IGEB?

IGEB is cheaper with a 0.18% expense ratio, compared with 0.34% for GHYB.

Which ETF pays a higher dividend yield, GHYB or IGEB?

GHYB has the higher dividend yield at 6.79%, compared with 5.05% for IGEB.

What is the main difference between GHYB and IGEB?

GHYB is categorized as High Yield Bonds, while IGEB is Corporate Bonds. GHYB tracks FTSE Goldman Sachs High Yield Corporate Bond Index, while IGEB tracks BlackRock Investment Grade Enhanced Bond Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.34% for GHYB and 0.18% for IGEB.

Which has better risk-adjusted returns?

GHYB currently has the higher Sharpe Ratio (2.18 vs 1.51), 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.