HYGH vs. IBIT
HYGH (iShares Interest Rate Hedged High Yield Bond ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - HYGH is a High Yield Bonds fund actively managed by iShares, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. HYGH is actively managed, while IBIT is passively managed. Over the past year, HYGH returned 7.60% vs -38.74% for IBIT. At a 0.36 correlation, their price movements are largely independent. HYGH charges 0.53%/yr vs 0.25%/yr for IBIT.
Performance
HYGH vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, HYGH achieves a 2.83% return, which is significantly higher than IBIT's -25.48% return.
HYGH
- 1D
- -0.09%
- 1M
- 0.75%
- YTD
- 2.83%
- 6M
- 3.59%
- 1Y
- 7.60%
- 3Y*
- 9.71%
- 5Y*
- 6.94%
- 10Y*
- 6.36%
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYGH vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 2.83% | 6.94% | 10.52% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
Correlation
The correlation between HYGH 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 12, 2024 | 0.36 |
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Return for Risk
HYGH vs. IBIT — Risk / Return Rank
HYGH
IBIT
HYGH vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged High Yield Bond ETF (HYGH) 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.
| HYGH | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.98 | ||
| Sortino ratioReturn per unit of downside risk | +4.41 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.86 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 4.71 | -0.79 | +5.49 |
| Martin ratioReturn relative to average drawdown | 18.40 | -1.36 | +19.77 |
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
| HYGH | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | -0.89 | +2.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.76 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.30 | +0.26 |
Drawdowns
HYGH vs. IBIT - Drawdown Comparison
The maximum HYGH drawdown since its inception was -23.88%, smaller than the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for HYGH and IBIT.
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Drawdown Indicators
| HYGH | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.88% | -49.36% | +25.48% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -49.36% | +47.74% |
Max Drawdown (3Y)Largest decline over 3 years | -8.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -8.24% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -23.88% | — | — |
Current DrawdownCurrent decline from peak | -0.24% | -48.10% | +47.86% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -16.02% | +13.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 28.44% | -28.03% |
Volatility
HYGH vs. IBIT - Volatility Comparison
The current volatility for iShares Interest Rate Hedged High Yield Bond ETF (HYGH) is 0.63%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that HYGH 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
| HYGH | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 9.50% | -8.87% |
Volatility (6M)Calculated over the trailing 6-month period | 2.84% | 34.44% | -31.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.66% | 43.73% | -40.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.07% | 50.19% | -43.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.35% | 50.19% | -41.84% |
HYGH vs. IBIT - Expense Ratio Comparison
HYGH has a 0.53% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
HYGH vs. IBIT - Dividend Comparison
HYGH's dividend yield for the trailing twelve months is around 6.63%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.63% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
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
HYGH 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 (9.50%) compared to HYGH (0.63%). In terms of maximum drawdown, HYGH dropped -23.88% vs IBIT's -49.36%.
On 1-year performance, HYGH leads with 7.60% vs -38.74% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, HYGH has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYGH has performed better with a 7.60% return vs -38.74%. 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 0.53% for HYGH.
HYGH has the higher dividend yield at 6.63%, compared with 0.00% for IBIT.
HYGH is categorized as High Yield Bonds, while IBIT is Cryptocurrency. Their fees differ too: 0.53% for HYGH and 0.25% for IBIT.
HYGH currently has the higher Sharpe Ratio (2.09 vs -0.89), 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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