HYGI vs. IBII

Last updated Aug 2, 2026

HYGI (iShares Inflation Hedged High Yield Bond ETF) and IBII (iShares iBonds Oct 2032 Term TIPS ETF) are both Inflation-Protected Bonds funds from iShares - HYGI tracks the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross while IBII tracks the ICE 2032 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Their 0.37 correlation means their historical movements had little consistent relationship. HYGI charges 0.52%/yr vs 0.10%/yr for IBII.

Performance

HYGI vs. IBII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Inflation Hedged High Yield Bond ETF (HYGI) and iShares iBonds Oct 2032 Term TIPS ETF (IBII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYGI

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

IBII

• 1D: -0.20%
• 1M: -0.47%
• 6M: 0.10%
• YTD: 0.86%
• 1Y: 2.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.42%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBII iShares iBonds Oct 2032 Term TIPS ETF	$334.80K	$323.00K	$347.99K

HYGI vs. IBII - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HYGI iShares Inflation Hedged High Yield Bond ETF	0.00%	6.20%	9.16%	5.22%
IBII iShares iBonds Oct 2032 Term TIPS ETF	0.86%	8.65%	1.21%	4.85%

Correlation

The correlation between HYGI and IBII is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.02
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023	0.37

Over the past year, the correlation between HYGI and IBII has dropped to 0.02 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

Return for Risk

HYGI vs. IBII — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HYGI

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

IBII

IBII Risk / Return Rank: 37
IBII Sharpe Ratio Rank: 35
IBII Sortino Ratio Rank: 35
IBII Omega Ratio Rank: 33
IBII Calmar Ratio Rank: 43
IBII Martin Ratio Rank: 39

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HYGI vs. IBII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Inflation Hedged High Yield Bond ETF (HYGI) and iShares iBonds Oct 2032 Term TIPS ETF (IBII). 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.

	HYGI	IBII	Difference
Sharpe ratio: Return per unit of total volatility	—	0.89	—
Sortino ratio: Return per unit of downside risk	—	1.32	—
Omega ratio: Gain probability vs. loss probability	—	1.16	—
Calmar ratio: Return relative to maximum drawdown	—	1.52	—
Martin ratio: Return relative to average drawdown	—	4.19	—

Drawdowns

Drawdown Indicators

	HYGI	IBII	Difference
Max Drawdown Largest peak-to-trough decline	—	-4.65%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-1.98%	—
Current Drawdown Current decline from peak	—	-1.40%	—
Average Drawdown Average peak-to-trough decline	—	-1.12%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.72%	—

Volatility

Volatility by Period

	HYGI	IBII	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.78%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.58%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.41%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	5.35%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	5.35%	—

HYGI vs. IBII - Expense Ratio Comparison

HYGI has a 0.52% expense ratio, which is higher than IBII's 0.10% expense ratio.

Dividends

HYGI vs. IBII - Dividend Comparison

HYGI has not paid dividends to shareholders, while IBII's dividend yield for the trailing twelve months is around 5.21%.

Position	TTM	2025	2024	2023	2022
HYGI iShares Inflation Hedged High Yield Bond ETF	0.50%	3.41%	6.08%	6.22%	3.19%
IBII iShares iBonds Oct 2032 Term TIPS ETF	5.21%	4.80%	4.76%	1.10%	0.00%

Frequently Asked Questions

Can I hold both HYGI and IBII in my portfolio?

HYGI and IBII have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYGI or IBII?

On fees, IBII is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYGI or IBII?

IBII is cheaper with a 0.10% expense ratio, compared with 0.52% for HYGI.

Which ETF pays a higher dividend yield, HYGI or IBII?

IBII has the higher dividend yield at 5.21%, compared with 0.50% for HYGI.

What is the main difference between HYGI and IBII?

HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while IBII tracks ICE 2032 Maturity US Inflation-Linked Treasury Index. Their fees differ too: 0.52% for HYGI and 0.10% for IBII.