HYBB vs. FALN
Compare and contrast key facts about iShares BB Rated Corporate Bond ETF (HYBB) and iShares Fallen Angels USD Bond ETF (FALN).
HYBB and FALN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYBB is a passively managed fund by iShares that tracks the performance of the ICE BofA BB US High Yield Constrained Index (USD). It was launched on Oct 6, 2020. FALN is a passively managed fund by iShares that tracks the performance of the Bloomberg US High Yield Fallen Angel 3% Capped Index. It was launched on Jun 14, 2016. Both HYBB and FALN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
HYBB vs. FALN - Performance Comparison
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HYBB vs. FALN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | -0.11% | 8.95% | 6.35% | 10.53% | -10.11% | 3.36% | 4.29% |
FALN iShares Fallen Angels USD Bond ETF | -0.49% | 8.92% | 7.68% | 13.47% | -13.79% | 5.40% | 7.79% |
Returns By Period
In the year-to-date period, HYBB achieves a -0.11% return, which is significantly higher than FALN's -0.49% return.
HYBB
- 1D
- 0.29%
- 1M
- -0.94%
- YTD
- -0.11%
- 6M
- 1.05%
- 1Y
- 6.89%
- 3Y*
- 7.26%
- 5Y*
- 3.57%
- 10Y*
- —
FALN
- 1D
- 0.57%
- 1M
- -1.82%
- YTD
- -0.49%
- 6M
- -0.31%
- 1Y
- 6.78%
- 3Y*
- 8.53%
- 5Y*
- 3.71%
- 10Y*
- —
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HYBB vs. FALN - Expense Ratio Comparison
Both HYBB and FALN have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
HYBB vs. FALN — Risk / Return Rank
HYBB
FALN
HYBB vs. FALN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares BB Rated Corporate Bond ETF (HYBB) and iShares Fallen Angels USD Bond ETF (FALN). 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 | FALN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.27 | 0.98 | +0.29 |
Sortino ratioReturn per unit of downside risk | 1.93 | 1.40 | +0.53 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.23 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.95 | 1.25 | +0.70 |
Martin ratioReturn relative to average drawdown | 9.97 | 5.37 | +4.61 |
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 | FALN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.27 | 0.98 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.51 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.72 | -0.13 |
Correlation
The correlation between HYBB and FALN is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
HYBB vs. FALN - Dividend Comparison
HYBB's dividend yield for the trailing twelve months is around 6.13%, less than FALN's 6.51% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | 6.13% | 6.08% | 6.22% | 6.28% | 5.04% | 3.86% | 0.76% | 0.00% | 0.00% | 0.00% | 0.00% |
FALN iShares Fallen Angels USD Bond ETF | 6.51% | 6.31% | 6.24% | 5.37% | 5.08% | 3.40% | 5.14% | 5.35% | 5.97% | 6.98% | 3.55% |
Drawdowns
HYBB vs. FALN - Drawdown Comparison
The maximum HYBB drawdown since its inception was -15.28%, smaller than the maximum FALN drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for HYBB and FALN.
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Drawdown Indicators
| HYBB | FALN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.28% | -29.22% | +13.94% |
Max Drawdown (1Y)Largest decline over 1 year | -3.71% | -5.57% | +1.86% |
Max Drawdown (5Y)Largest decline over 5 years | -15.28% | -18.78% | +3.50% |
Current DrawdownCurrent decline from peak | -1.16% | -2.28% | +1.12% |
Average DrawdownAverage peak-to-trough decline | -3.32% | -3.37% | +0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 1.29% | -0.57% |
Volatility
HYBB vs. FALN - Volatility Comparison
The current volatility for iShares BB Rated Corporate Bond ETF (HYBB) is 1.91%, while iShares Fallen Angels USD Bond ETF (FALN) has a volatility of 2.82%. This indicates that HYBB experiences smaller price fluctuations and is considered to be less risky than FALN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYBB | FALN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 2.82% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 3.57% | -1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.45% | 6.92% | -1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.92% | 7.28% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.75% | 9.01% | -2.26% |