HYBB vs. JPIE
HYBB (iShares BB Rated Corporate Bond ETF) and JPIE (JPMorgan Income 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 JPIE is a Multisector Bonds fund actively managed by JPMorgan. HYBB is passively managed, while JPIE is actively managed. Over the past 3 years, HYBB returned 7.96%/yr vs 6.55%/yr for JPIE. A 0.69 correlation means they provide meaningful diversification when combined. HYBB charges 0.25%/yr vs 0.40%/yr for JPIE.
Performance
HYBB vs. JPIE - 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 JPIE's 1.51% return.
HYBB
- 1D
- 0.08%
- 1M
- 0.42%
- YTD
- 1.39%
- 6M
- 1.78%
- 1Y
- 6.52%
- 3Y*
- 7.96%
- 5Y*
- 3.63%
- 10Y*
- —
JPIE
- 1D
- 0.09%
- 1M
- 0.39%
- YTD
- 1.51%
- 6M
- 1.98%
- 1Y
- 5.83%
- 3Y*
- 6.55%
- 5Y*
- —
- 10Y*
- —
HYBB vs. JPIE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | 1.39% | 8.95% | 6.35% | 10.53% | -10.11% | 0.50% |
JPIE JPMorgan Income ETF | 1.51% | 7.39% | 6.32% | 7.07% | -6.13% | 0.30% |
Correlation
The correlation between HYBB and JPIE 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 (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2021 | 0.69 |
The correlation between HYBB and JPIE has been stable across timeframes, ranging from 0.68 to 0.69 - a consistent structural relationship.
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Return for Risk
HYBB vs. JPIE — Risk / Return Rank
HYBB
JPIE
HYBB vs. JPIE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares BB Rated Corporate Bond ETF (HYBB) and JPMorgan Income ETF (JPIE). 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 | JPIE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -2.80 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.83 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 5.10 | -2.47 |
| Martin ratioReturn relative to average drawdown | 11.88 | 25.31 | -13.43 |
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 | JPIE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 3.69 | -1.69 |
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 | 0.99 | -0.36 |
Drawdowns
HYBB vs. JPIE - Drawdown Comparison
The maximum HYBB drawdown since its inception was -15.28%, which is greater than JPIE's maximum drawdown of -9.96%. Use the drawdown chart below to compare losses from any high point for HYBB and JPIE.
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Drawdown Indicators
| HYBB | JPIE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.28% | -9.96% | -5.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.48% | -1.15% | -1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -4.01% | -2.40% | -1.61% |
Max Drawdown (5Y)Largest decline over 5 years | -15.28% | — | — |
Current DrawdownCurrent decline from peak | -0.26% | -0.04% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -2.09% | -1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.23% | +0.32% |
Volatility
HYBB vs. JPIE - Volatility Comparison
iShares BB Rated Corporate Bond ETF (HYBB) has a higher volatility of 0.98% compared to JPMorgan Income ETF (JPIE) at 0.61%. This indicates that HYBB's price experiences larger fluctuations and is considered to be riskier than JPIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYBB | JPIE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.61% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 1.28% | +1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.28% | 1.59% | +1.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.93% | 3.52% | +3.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.67% | 3.52% | +3.15% |
HYBB vs. JPIE - Expense Ratio Comparison
HYBB has a 0.25% expense ratio, which is lower than JPIE's 0.40% expense ratio.
Dividends
HYBB vs. JPIE - Dividend Comparison
HYBB's dividend yield for the trailing twelve months is around 5.86%, more than JPIE's 5.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | 5.86% | 6.08% | 6.22% | 6.28% | 5.04% | 3.86% | 0.76% |
JPIE JPMorgan Income ETF | 5.62% | 5.65% | 6.11% | 5.70% | 4.49% | 0.63% | 0.00% |
Frequently Asked Questions
HYBB and JPIE 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.
HYBB has higher volatility (0.98%) compared to JPIE (0.61%). In terms of maximum drawdown, HYBB dropped -15.28% vs JPIE's -9.96%.
On 3-year performance, HYBB leads with 7.96% vs 6.55% for JPIE. On fees, HYBB is cheaper at 0.25% per year. On volatility, JPIE has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYBB has performed better with a 7.96% return vs 6.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYBB is cheaper with a 0.25% expense ratio, compared with 0.40% for JPIE.
HYBB has the higher dividend yield at 5.86%, compared with 5.62% for JPIE.
HYBB is categorized as High Yield Bonds, while JPIE is Multisector Bonds. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.25% for HYBB and 0.40% for JPIE.
JPIE currently has the higher Sharpe Ratio (3.69 vs 2.00), 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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