HYG vs. IBIT
HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, HYG returned 5.35% vs -47.60% for IBIT. At a 0.36 correlation, their price movements are largely independent. HYG charges 0.49%/yr vs 0.25%/yr for IBIT.
Performance
HYG vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, HYG achieves a 1.59% return, which is significantly higher than IBIT's -29.06% return.
HYG
- 1D
- -0.24%
- 1M
- -0.06%
- 6M
- 1.07%
- YTD
- 1.59%
- 1Y
- 5.35%
- 3Y*
- 8.13%
- 5Y*
- 3.62%
- 10Y*
- 4.65%
IBIT
- 1D
- -2.79%
- 1M
- -2.28%
- 6M
- -32.10%
- YTD
- -29.06%
- 1Y
- -47.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYG vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.59% | 8.59% | 7.99% |
IBIT iShares Bitcoin Trust ETF | -29.06% | -6.41% | 89.87% |
Correlation
The correlation between HYG and IBIT is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.36 |
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Return for Risk
HYG vs. IBIT — Risk / Return Rank
HYG
IBIT
HYG vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) 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.
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.
| HYG | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.48 | ||
| Sortino ratioReturn per unit of downside risk | +3.77 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.82 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | -0.90 | +3.19 |
| Martin ratioReturn relative to average drawdown | 10.14 | -1.46 | +11.60 |
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Drawdowns
HYG vs. IBIT - Drawdown Comparison
The maximum HYG drawdown since its inception was -34.25%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for HYG and IBIT.
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Drawdown Indicators
| HYG | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.25% | -53.30% | +19.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | -53.30% | +50.96% |
Max Drawdown (3Y)Largest decline over 3 years | -4.56% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.03% | — | — |
Current DrawdownCurrent decline from peak | -0.44% | -50.60% | +50.16% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -17.56% | +14.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 32.72% | -32.19% |
Volatility
HYG vs. IBIT - Volatility Comparison
The current volatility for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is 0.95%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 11.51%. This indicates that HYG 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.
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Volatility by Period
| HYG | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 11.51% | -10.56% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 34.79% | -31.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 44.38% | -40.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.54% | 49.97% | -42.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.22% | 49.97% | -41.75% |
HYG vs. IBIT - Expense Ratio Comparison
HYG has a 0.49% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
HYG vs. IBIT - Dividend Comparison
HYG's dividend yield for the trailing twelve months is around 5.92%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.92% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYG and IBIT have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (11.51%) compared to HYG (0.95%). In terms of maximum drawdown, HYG dropped -34.25% vs IBIT's -53.30%.
On 1-year performance, HYG leads with 5.35% vs -47.60% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, HYG has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYG has performed better with a 5.35% return vs -47.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.49% for HYG.
HYG has the higher dividend yield at 5.92%, compared with 0.00% for IBIT.
HYG is categorized as High Yield Bonds, while IBIT is Cryptocurrency. HYG tracks Markit iBoxx USD Liquid High Yield Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.49% for HYG and 0.25% for IBIT.
HYG currently has the higher Sharpe Ratio (1.40 vs -1.08), 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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