HYBX vs. IBHD

Last updated Jun 27, 2026

HYBX (TCW High Yield Bond ETF) and IBHD (iShares iBonds 2024 Term High Yield & Income ETF) are both High Yield Bonds funds. HYBX is actively managed, while IBHD is passively managed. HYBX charges 0.50%/yr vs 0.35%/yr for IBHD.

Performance

HYBX vs. IBHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW High Yield Bond ETF (HYBX) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYBX

• 1D: 0.15%
• 1M: 0.34%
• YTD: 2.89%
• 6M: 2.53%
• 1Y: 4.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBHD

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYBX vs. IBHD - Yearly Performance Comparison

	2026 (YTD)
HYBX TCW High Yield Bond ETF	1.85%
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%

Return for Risk

HYBX vs. IBHD — Risk / Return Rank

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

HYBX

HYBX Risk / Return Rank: 34
HYBX Sharpe Ratio Rank: 22
HYBX Sortino Ratio Rank: 23
HYBX Omega Ratio Rank: 22
HYBX Calmar Ratio Rank: 54
HYBX Martin Ratio Rank: 50

IBHD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

HYBX vs. IBHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW High Yield Bond ETF (HYBX) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD). 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.

	HYBX	IBHD	Difference
Sharpe ratio: Return per unit of total volatility	0.75	—	—
Sortino ratio: Return per unit of downside risk	1.19	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	2.29	—	—
Martin ratio: Return relative to average drawdown	7.33	—	—

Drawdowns

HYBX vs. IBHD - Drawdown Comparison

The maximum HYBX drawdown since its inception was -3.93%, which is greater than IBHD's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for HYBX and IBHD.

Drawdown Indicators

	HYBX	IBHD	Difference
Max Drawdown Largest peak-to-trough decline	-3.93%	0.00%	-3.93%
Max Drawdown (1Y) Largest decline over 1 year	-2.15%	—	—
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-0.56%	0.00%	-0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	—	—

Volatility

Volatility by Period

	HYBX	IBHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.62%	0.00%	+6.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.54%	0.00%	+7.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.54%	0.00%	+7.54%

HYBX vs. IBHD - Expense Ratio Comparison

HYBX has a 0.50% expense ratio, which is higher than IBHD's 0.35% expense ratio.

Dividends

HYBX vs. IBHD - Dividend Comparison

HYBX's dividend yield for the trailing twelve months is around 7.68%, while IBHD has not paid dividends to shareholders.

Position	TTM	2025	2024
HYBX TCW High Yield Bond ETF	7.68%	7.82%	1.08%
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, HYBX or IBHD?

On fees, IBHD is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYBX or IBHD?

IBHD is cheaper with a 0.35% expense ratio, compared with 0.50% for HYBX.

Which ETF pays a higher dividend yield, HYBX or IBHD?

HYBX has the higher dividend yield at 7.68%, compared with 0.00% for IBHD.

What is the main difference between HYBX and IBHD?

They also come from different issuers: TCW and iShares. Their fees differ too: 0.50% for HYBX and 0.35% for IBHD.