HBDC vs. USIG

Last updated Jul 12, 2026

HBDC (Hilton BDC Corporate Bond ETF) and USIG (iShares Broad USD Investment Grade Corporate Bond ETF) are both Corporate Bonds funds. HBDC is actively managed, while USIG is passively managed. Over the past year, HBDC returned 4.07% vs 4.44% for USIG. At a 0.48 correlation, their price movements are largely independent. HBDC charges 0.39%/yr vs 0.04%/yr for USIG.

Performance

HBDC vs. USIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hilton BDC Corporate Bond ETF (HBDC) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HBDC achieves a 0.81% return, which is significantly higher than USIG's 0.27% return.

HBDC

• 1D: -0.02%
• 1M: 0.55%
• 6M: 0.94%
• YTD: 0.81%
• 1Y: 4.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USIG

• 1D: -0.15%
• 1M: -0.61%
• 6M: -0.02%
• YTD: 0.27%
• 1Y: 4.44%
• 3Y*: 5.46%
• 5Y*: 0.31%
• 10Y*: 2.34%

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

HBDC vs. USIG - Yearly Performance Comparison

	2026 (YTD)	2025
HBDC Hilton BDC Corporate Bond ETF	0.81%	2.83%
USIG iShares Broad USD Investment Grade Corporate Bond ETF	0.27%	5.19%

Correlation

The correlation between HBDC and USIG is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025	0.48

Return for Risk

HBDC vs. USIG — Risk / Return Rank

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

HBDC

HBDC Risk / Return Rank: 46
HBDC Sharpe Ratio Rank: 52
HBDC Sortino Ratio Rank: 55
HBDC Omega Ratio Rank: 55
HBDC Calmar Ratio Rank: 33
HBDC Martin Ratio Rank: 35

USIG

USIG Risk / Return Rank: 33
USIG Sharpe Ratio Rank: 33
USIG Sortino Ratio Rank: 31
USIG Omega Ratio Rank: 30
USIG Calmar Ratio Rank: 35
USIG Martin Ratio Rank: 37

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.

HBDC vs. USIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hilton BDC Corporate Bond ETF (HBDC) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG). 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.

	HBDC	USIG	Difference
Sharpe ratio: Return per unit of total volatility	1.41	0.98	+0.43
Sortino ratio: Return per unit of downside risk	2.11	1.43	+0.68
Omega ratio: Gain probability vs. loss probability	1.27	1.17	+0.10
Calmar ratio: Return relative to maximum drawdown	1.34	1.44	-0.10
Martin ratio: Return relative to average drawdown	4.20	4.55	-0.35

HBDC vs. USIG - Sharpe Ratio Comparison

The current HBDC Sharpe Ratio is 1.41, which is higher than the USIG Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of HBDC and USIG, 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

HBDC vs. USIG - Drawdown Comparison

The maximum HBDC drawdown since its inception was -2.96%, smaller than the maximum USIG drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for HBDC and USIG.

Drawdown Indicators

	HBDC	USIG	Difference
Max Drawdown Largest peak-to-trough decline	-2.96%	-22.21%	+19.25%
Max Drawdown (1Y) Largest decline over 1 year	-2.96%	-2.79%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.45%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.45%	—
Current Drawdown Current decline from peak	-0.10%	-1.25%	+1.15%
Average Drawdown Average peak-to-trough decline	-0.64%	-3.40%	+2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	0.88%	+0.06%

Volatility

HBDC vs. USIG - Volatility Comparison

The current volatility for Hilton BDC Corporate Bond ETF (HBDC) is 0.66%, while iShares Broad USD Investment Grade Corporate Bond ETF (USIG) has a volatility of 1.22%. This indicates that HBDC experiences smaller price fluctuations and is considered to be less risky than USIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBDC	USIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	1.22%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	2.12%	3.20%	-1.08%
Volatility (1Y) Calculated over the trailing 1-year period	2.81%	4.09%	-1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.93%	6.82%	-3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.93%	6.83%	-3.90%

HBDC vs. USIG - Expense Ratio Comparison

HBDC has a 0.39% expense ratio, which is higher than USIG's 0.04% expense ratio.

Dividends

HBDC vs. USIG - Dividend Comparison

HBDC's dividend yield for the trailing twelve months is around 4.92%, more than USIG's 4.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HBDC Hilton BDC Corporate Bond ETF	4.92%	2.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USIG iShares Broad USD Investment Grade Corporate Bond ETF	4.78%	4.62%	4.51%	3.94%	3.14%	2.33%	2.82%	3.37%	3.44%	3.03%	2.87%	3.24%

Frequently Asked Questions

Can I hold both HBDC and USIG in my portfolio?

HBDC and USIG have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HBDC or USIG?

USIG has higher volatility (1.22%) compared to HBDC (0.66%). In terms of maximum drawdown, HBDC dropped -2.96% vs USIG's -22.21%.

Which ETF is better, HBDC or USIG?

On 1-year performance, USIG leads with 4.44% vs 4.07% for HBDC. On fees, USIG is cheaper at 0.04% per year. On volatility, HBDC has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HBDC or USIG?

Over the 1-year period, USIG has performed better with a 4.44% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HBDC or USIG?

USIG is cheaper with a 0.04% expense ratio, compared with 0.39% for HBDC.

Which ETF pays a higher dividend yield, HBDC or USIG?

HBDC has the higher dividend yield at 4.92%, compared with 4.78% for USIG.

What is the main difference between HBDC and USIG?

They also come from different issuers: Hilton and iShares. Their fees differ too: 0.39% for HBDC and 0.04% for USIG.

Which has better risk-adjusted returns?

HBDC currently has the higher Sharpe Ratio (1.41 vs 0.98), 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.