HYBB vs. BBBL
HYBB (iShares BB Rated Corporate Bond ETF) and BBBL (Bondbloxx BBB Rated 10+ Year Corporate Bond ETF) are both exchange-traded funds - HYBB is a High Yield Bonds fund tracking the ICE BofA BB US High Yield Constrained Index (USD), while BBBL is a Long-Term Bond fund tracking the Bloomberg U.S. Corporate BBB 10+ Year Index - Benchmark TR Gross. Both are passively managed. Over the past year, HYBB returned 6.52% vs 6.99% for BBBL. A 0.66 correlation means they provide meaningful diversification when combined. HYBB charges 0.25%/yr vs 0.19%/yr for BBBL.
Performance
HYBB vs. BBBL - Performance Comparison
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Returns By Period
In the year-to-date period, HYBB achieves a 1.39% return, which is significantly lower than BBBL's 1.50% return.
HYBB
- 1D
- 0.08%
- 1M
- 0.42%
- YTD
- 1.39%
- 6M
- 1.78%
- 1Y
- 6.52%
- 3Y*
- 7.96%
- 5Y*
- 3.63%
- 10Y*
- —
BBBL
- 1D
- 0.27%
- 1M
- 1.28%
- YTD
- 1.50%
- 6M
- 0.79%
- 1Y
- 6.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYBB vs. BBBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | 1.39% | 8.95% | 5.91% |
BBBL Bondbloxx BBB Rated 10+ Year Corporate Bond ETF | 1.50% | 7.02% | 0.89% |
Correlation
The correlation between HYBB and BBBL is 0.68, 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 | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2024 | 0.66 |
The correlation between HYBB and BBBL has been stable across timeframes, ranging from 0.66 to 0.68 - a consistent structural relationship.
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Return for Risk
HYBB vs. BBBL — Risk / Return Rank
HYBB
BBBL
HYBB vs. BBBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares BB Rated Corporate Bond ETF (HYBB) and Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL). 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.
| HYBB | BBBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.16 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 1.29 | +1.34 |
| Martin ratioReturn relative to average drawdown | 11.88 | 3.23 | +8.66 |
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
| HYBB | BBBL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 0.90 | +1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.41 | +0.22 |
Drawdowns
HYBB vs. BBBL - Drawdown Comparison
The maximum HYBB drawdown since its inception was -15.28%, which is greater than BBBL's maximum drawdown of -9.43%. Use the drawdown chart below to compare losses from any high point for HYBB and BBBL.
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Drawdown Indicators
| HYBB | BBBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.28% | -9.43% | -5.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.48% | -5.45% | +2.97% |
Max Drawdown (3Y)Largest decline over 3 years | -4.01% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.28% | — | — |
Current DrawdownCurrent decline from peak | -0.26% | -1.62% | +1.36% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -3.30% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 2.17% | -1.62% |
Volatility
HYBB vs. BBBL - Volatility Comparison
The current volatility for iShares BB Rated Corporate Bond ETF (HYBB) is 0.98%, while Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL) has a volatility of 2.39%. This indicates that HYBB experiences smaller price fluctuations and is considered to be less risky than BBBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYBB | BBBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 2.39% | -1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 5.75% | -3.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.28% | 7.86% | -4.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.93% | 9.80% | -2.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.67% | 9.80% | -3.13% |
HYBB vs. BBBL - Expense Ratio Comparison
HYBB has a 0.25% expense ratio, which is higher than BBBL's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HYBB vs. BBBL - Dividend Comparison
HYBB's dividend yield for the trailing twelve months is around 5.86%, more than BBBL's 5.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BBBL Bondbloxx BBB Rated 10+ Year Corporate Bond ETF | 5.72% | 5.77% | 5.19% | 0.00% | 0.00% | 0.00% | 0.00% |
HYBB iShares BB Rated Corporate Bond ETF | 5.86% | 6.08% | 6.22% | 6.28% | 5.04% | 3.86% | 0.76% |
Frequently Asked Questions
HYBB and BBBL have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BBBL has higher volatility (2.39%) compared to HYBB (0.98%). In terms of maximum drawdown, HYBB dropped -15.28% vs BBBL's -9.43%.
On 1-year performance, BBBL leads with 6.99% vs 6.52% for HYBB. On fees, BBBL is cheaper at 0.19% per year. On volatility, HYBB has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BBBL has performed better with a 6.99% return vs 6.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBBL is cheaper with a 0.19% expense ratio, compared with 0.25% for HYBB.
HYBB has the higher dividend yield at 5.86%, compared with 5.72% for BBBL.
HYBB is categorized as High Yield Bonds, while BBBL is Long-Term Bond. HYBB tracks ICE BofA BB US High Yield Constrained Index (USD), while BBBL tracks Bloomberg U.S. Corporate BBB 10+ Year Index - Benchmark TR Gross. They also come from different issuers: iShares and BondBloxx. Their fees differ too: 0.25% for HYBB and 0.19% for BBBL.
HYBB currently has the higher Sharpe Ratio (2.00 vs 0.90), 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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