HYGH vs. LDRH
HYGH (iShares Interest Rate Hedged High Yield Bond ETF) and LDRH (iShares iBonds 1-5 Year High Yield and Income Ladder ETF) are both High Yield Bonds funds from iShares - HYGH tracks the Markit iBoxx USD Liquid High Yield Interest Hedged Index while LDRH tracks the BlackRock iBonds 1-5 Year High Yield and Income Ladder Index. Both are passively managed. Over the past year, HYGH returned 7.31% vs 5.77% for LDRH. A 0.60 correlation means they provide meaningful diversification when combined. HYGH charges 0.52%/yr vs 0.35%/yr for LDRH.
Performance
HYGH vs. LDRH - Performance Comparison
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Returns By Period
In the year-to-date period, HYGH achieves a 3.09% return, which is significantly higher than LDRH's 1.96% return.
HYGH
- 1D
- -0.24%
- 1M
- 0.32%
- YTD
- 3.09%
- 6M
- 2.99%
- 1Y
- 7.31%
- 3Y*
- 9.79%
- 5Y*
- 6.81%
- 10Y*
- 6.46%
LDRH
- 1D
- -0.02%
- 1M
- 0.31%
- YTD
- 1.96%
- 6M
- 1.88%
- 1Y
- 5.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYGH vs. LDRH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 3.09% | 6.94% | 0.55% |
LDRH iShares iBonds 1-5 Year High Yield and Income Ladder ETF | 1.96% | 7.18% | 0.21% |
Correlation
The correlation between HYGH and LDRH is 0.60, 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 | 0.60 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024 | 0.60 |
The correlation between HYGH and LDRH has been stable across timeframes, ranging from 0.60 to 0.60 - a consistent structural relationship.
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Return for Risk
HYGH vs. LDRH — Risk / Return Rank
HYGH
LDRH
HYGH vs. LDRH - 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 iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH). 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.
| HYGH | LDRH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.43 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.53 | 4.70 | -0.17 |
| Martin ratioReturn relative to average drawdown | 17.71 | 19.42 | -1.72 |
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Drawdowns
HYGH vs. LDRH - Drawdown Comparison
The maximum HYGH drawdown since its inception was -23.88%, which is greater than LDRH's maximum drawdown of -3.17%. Use the drawdown chart below to compare losses from any high point for HYGH and LDRH.
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Drawdown Indicators
| HYGH | LDRH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.88% | -3.17% | -20.71% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -1.23% | -0.39% |
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 | -0.32% | -0.28% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -2.22% | -0.24% | -1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 0.30% | +0.11% |
Volatility
HYGH vs. LDRH - Volatility Comparison
iShares Interest Rate Hedged High Yield Bond ETF (HYGH) has a higher volatility of 0.68% compared to iShares iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH) at 0.61%. This indicates that HYGH's price experiences larger fluctuations and is considered to be riskier than LDRH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYGH | LDRH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 0.61% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 1.97% | +0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.65% | 2.60% | +1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.08% | 3.47% | +3.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.30% | 3.47% | +4.83% |
HYGH vs. LDRH - Expense Ratio Comparison
HYGH has a 0.52% expense ratio, which is higher than LDRH's 0.35% expense ratio.
Dividends
HYGH vs. LDRH - Dividend Comparison
HYGH's dividend yield for the trailing twelve months is around 6.61%, less than LDRH's 6.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.61% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
LDRH iShares iBonds 1-5 Year High Yield and Income Ladder ETF | 6.99% | 6.41% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYGH and LDRH have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYGH has higher volatility (0.68%) compared to LDRH (0.61%). In terms of maximum drawdown, HYGH dropped -23.88% vs LDRH's -3.17%.
On 1-year performance, HYGH leads with 7.31% vs 5.77% for LDRH. On fees, LDRH is cheaper at 0.35% per year. Their volatility is very similar. 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 7.31% return vs 5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LDRH is cheaper with a 0.35% expense ratio, compared with 0.52% for HYGH.
LDRH has the higher dividend yield at 6.99%, compared with 6.61% for HYGH.
HYGH tracks Markit iBoxx USD Liquid High Yield Interest Hedged Index, while LDRH tracks BlackRock iBonds 1-5 Year High Yield and Income Ladder Index. Their fees differ too: 0.52% for HYGH and 0.35% for LDRH.
LDRH currently has the higher Sharpe Ratio (2.23 vs 2.01), 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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