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 5.93% vs -39.82% 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 1.56% return, which is significantly higher than IBIT's -28.88% return.
HYG
- 1D
- -0.09%
- 1M
- 0.46%
- YTD
- 1.56%
- 6M
- 1.74%
- 1Y
- 5.93%
- 3Y*
- 8.75%
- 5Y*
- 3.68%
- 10Y*
- 5.00%
IBIT
- 1D
- -3.26%
- 1M
- -17.81%
- YTD
- -28.88%
- 6M
- -28.88%
- 1Y
- -39.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYG vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.56% | 8.59% | 7.99% |
IBIT iShares Bitcoin Trust ETF | -28.88% | -6.41% | 89.87% |
Correlation
The correlation between HYG and IBIT is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
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 | +2.44 | ||
| Sortino ratioReturn per unit of downside risk | +3.57 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.86 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | -0.77 | +3.31 |
| Martin ratioReturn relative to average drawdown | 11.18 | -1.30 | +12.48 |
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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 -52.11%. 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% | -52.11% | +17.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | -52.11% | +49.77% |
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 | -0.21% | -50.47% | +50.26% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -16.85% | +13.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 30.58% | -30.05% |
Volatility
HYG vs. IBIT - Volatility Comparison
The current volatility for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is 1.13%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.18%. 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 | 1.13% | 13.18% | -12.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 34.64% | -31.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | 44.31% | -40.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.54% | 50.22% | -42.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.27% | 50.22% | -41.95% |
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 5.91%, 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 | 5.91% | 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 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (13.18%) compared to HYG (1.13%). In terms of maximum drawdown, HYG dropped -34.25% vs IBIT's -52.11%.
On 1-year performance, HYG leads with 5.93% vs -39.82% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, HYG has been the lower-risk option at 1.13%. 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 5.93% return vs -39.82%. 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 5.91%, 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 (1.54 vs -0.90), 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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