HYBB vs. IBIT

Last updated Jun 4, 2026

HYBB (iShares BB Rated Corporate Bond ETF) and IBIT (iShares Bitcoin Trust 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 IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, HYBB returned 6.73% vs -38.74% for IBIT. At a 0.33 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.

Performance

HYBB vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares BB Rated Corporate Bond ETF (HYBB) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYBB achieves a 1.31% return, which is significantly higher than IBIT's -25.48% return.

HYBB

• 1D: -0.16%
• 1M: 0.52%
• YTD: 1.31%
• 6M: 1.61%
• 1Y: 6.73%
• 3Y*: 7.86%
• 5Y*: 3.62%
• 10Y*: —

IBIT

• 1D: -2.76%
• 1M: -18.50%
• YTD: -25.48%
• 6M: -29.84%
• 1Y: -38.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYBB vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYBB iShares BB Rated Corporate Bond ETF	1.31%	8.95%	5.91%
IBIT iShares Bitcoin Trust ETF	-25.48%	-6.41%	99.21%

Correlation

The correlation between HYBB and IBIT is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024	0.33

Return for Risk

HYBB vs. IBIT — Risk / Return Rank

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

HYBB

HYBB Risk / Return Rank: 63
HYBB Sharpe Ratio Rank: 61
HYBB Sortino Ratio Rank: 66
HYBB Omega Ratio Rank: 65
HYBB Calmar Ratio Rank: 55
HYBB Martin Ratio Rank: 67

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 2

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.

HYBB vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares BB Rated Corporate Bond ETF (HYBB) and iShares Bitcoin Trust ETF (IBIT). 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	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	2.06	-0.89	+2.95
Sortino ratio: Return per unit of downside risk	3.09	-1.23	+4.32
Omega ratio: Gain probability vs. loss probability	1.40	0.86	+0.54
Calmar ratio: Return relative to maximum drawdown	2.72	-0.79	+3.51
Martin ratio: Return relative to average drawdown	12.28	-1.36	+13.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYBB vs. IBIT - Sharpe Ratio Comparison

The current HYBB Sharpe Ratio is 2.06, which is higher than the IBIT Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of HYBB and IBIT, 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

	HYBB	IBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	-0.89	+2.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.30	+0.33

Drawdowns

HYBB vs. IBIT - Drawdown Comparison

The maximum HYBB drawdown since its inception was -15.28%, smaller than the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for HYBB and IBIT.

Drawdown Indicators

	HYBB	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-15.28%	-49.36%	+34.08%
Max Drawdown (1Y) Largest decline over 1 year	-2.48%	-49.36%	+46.88%
Max Drawdown (3Y) Largest decline over 3 years	-4.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.28%	—	—
Current Drawdown Current decline from peak	-0.33%	-48.10%	+47.77%
Average Drawdown Average peak-to-trough decline	-3.23%	-16.02%	+12.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	28.44%	-27.89%

Volatility

HYBB vs. IBIT - Volatility Comparison

The current volatility for iShares BB Rated Corporate Bond ETF (HYBB) is 0.99%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that HYBB experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYBB	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.99%	9.50%	-8.51%
Volatility (6M) Calculated over the trailing 6-month period	2.57%	34.44%	-31.87%
Volatility (1Y) Calculated over the trailing 1-year period	3.28%	43.73%	-40.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.93%	50.19%	-43.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.67%	50.19%	-43.52%

HYBB vs. IBIT - Expense Ratio Comparison

Both HYBB and IBIT 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%.

Dividends

HYBB vs. IBIT - Dividend Comparison

HYBB's dividend yield for the trailing twelve months is around 5.87%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
HYBB iShares BB Rated Corporate Bond ETF	5.87%	6.08%	6.22%	6.28%	5.04%	3.86%	0.76%
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYBB and IBIT in my portfolio?

HYBB and IBIT have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYBB or IBIT?

IBIT has higher volatility (9.50%) compared to HYBB (0.99%). In terms of maximum drawdown, HYBB dropped -15.28% vs IBIT's -49.36%.

Which ETF is better, HYBB or IBIT?

On 1-year performance, HYBB leads with 6.73% vs -38.74% for IBIT. Both ETFs have the same 0.25% expense ratio. On volatility, HYBB has been the lower-risk option at 0.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYBB or IBIT?

Over the 1-year period, HYBB has performed better with a 6.73% return vs -38.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYBB or IBIT?

HYBB and IBIT have the same expense ratio: 0.25% per year.

Which ETF pays a higher dividend yield, HYBB or IBIT?

HYBB has the higher dividend yield at 5.87%, compared with 0.00% for IBIT.

What is the main difference between HYBB and IBIT?

HYBB is categorized as High Yield Bonds, while IBIT is Cryptocurrency. HYBB tracks ICE BofA BB US High Yield Constrained Index (USD), while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant.

Which has better risk-adjusted returns?

HYBB currently has the higher Sharpe Ratio (2.06 vs -0.89), 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.