HYBB vs. XBB
HYBB (iShares BB Rated Corporate Bond ETF) and XBB (BondBloxx BB Rated USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - HYBB tracks the ICE BofA BB US High Yield Constrained Index (USD) while XBB tracks the ICE BofA BB US Cash Pay High Yield Constrained Index. Both are passively managed. Over the past 3 years, HYBB returned 8.23%/yr vs 8.10%/yr for XBB. Their correlation of 0.87 suggests significant overlap in exposure. HYBB charges 0.25%/yr vs 0.20%/yr for XBB.
Performance
HYBB vs. XBB - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with HYBB having a 1.87% return and XBB slightly lower at 1.80%.
HYBB
- 1D
- 0.35%
- 1M
- 0.56%
- YTD
- 1.87%
- 6M
- 1.83%
- 1Y
- 6.08%
- 3Y*
- 8.23%
- 5Y*
- 3.54%
- 10Y*
- —
XBB
- 1D
- 0.05%
- 1M
- 0.51%
- YTD
- 1.80%
- 6M
- 1.61%
- 1Y
- 5.70%
- 3Y*
- 8.10%
- 5Y*
- —
- 10Y*
- —
HYBB vs. XBB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | 1.87% | 8.95% | 6.35% | 10.53% | -2.04% |
XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 1.80% | 8.59% | 6.41% | 10.63% | -2.39% |
Correlation
The correlation between HYBB and XBB is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since May 26, 2022 | 0.87 |
The correlation between HYBB and XBB has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.
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Return for Risk
HYBB vs. XBB — Risk / Return Rank
HYBB
XBB
HYBB vs. XBB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares BB Rated Corporate Bond ETF (HYBB) and BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB). 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.
| HYBB | XBB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.27 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 2.04 | +0.41 |
| Martin ratioReturn relative to average drawdown | 11.02 | 8.46 | +2.56 |
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Drawdowns
HYBB vs. XBB - Drawdown Comparison
The maximum HYBB drawdown since its inception was -15.28%, which is greater than XBB's maximum drawdown of -8.87%. Use the drawdown chart below to compare losses from any high point for HYBB and XBB.
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Drawdown Indicators
| HYBB | XBB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.28% | -8.87% | -6.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.48% | -2.80% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -4.01% | -3.86% | -0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -15.28% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.07% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -3.20% | -1.31% | -1.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.68% | -0.13% |
Volatility
HYBB vs. XBB - Volatility Comparison
The current volatility for iShares BB Rated Corporate Bond ETF (HYBB) is 0.91%, while BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB) has a volatility of 1.12%. This indicates that HYBB experiences smaller price fluctuations and is considered to be less risky than XBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYBB | XBB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.12% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.65% | 2.88% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.32% | 3.97% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.94% | 7.08% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.65% | 7.08% | -0.43% |
HYBB vs. XBB - Expense Ratio Comparison
HYBB has a 0.25% expense ratio, which is higher than XBB's 0.20% 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. XBB - Dividend Comparison
HYBB's dividend yield for the trailing twelve months is around 5.84%, more than XBB's 5.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | 5.84% | 6.08% | 6.22% | 6.28% | 5.04% | 3.86% | 0.76% |
XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 5.54% | 5.42% | 6.35% | 6.15% | 3.73% | 0.00% | 0.00% |
Frequently Asked Questions
HYBB and XBB have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XBB has higher volatility (1.12%) compared to HYBB (0.91%). In terms of maximum drawdown, HYBB dropped -15.28% vs XBB's -8.87%.
On 3-year performance, HYBB leads with 8.23% vs 8.10% for XBB. On fees, XBB is cheaper at 0.20% per year. On volatility, HYBB has been the lower-risk option at 0.91%. 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 8.23% return vs 8.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XBB is cheaper with a 0.20% expense ratio, compared with 0.25% for HYBB.
HYBB has the higher dividend yield at 5.84%, compared with 5.54% for XBB.
HYBB tracks ICE BofA BB US High Yield Constrained Index (USD), while XBB tracks ICE BofA BB US Cash Pay High Yield Constrained Index. They also come from different issuers: iShares and BondBloxx. Their fees differ too: 0.25% for HYBB and 0.20% for XBB.
HYBB currently has the higher Sharpe Ratio (1.84 vs 1.44), 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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