HYGI vs. ICPI

Last updated Jul 9, 2026

HYGI (iShares Inflation Hedged High Yield Bond ETF) and ICPI (iShares 0-1 Year TIPS Bond ETF) are both Inflation-Protected Bonds funds from iShares - HYGI tracks the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross while ICPI tracks the ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index. Both are passively managed. HYGI charges 0.52%/yr vs 0.09%/yr for ICPI.

Performance

HYGI vs. ICPI - 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 0-1 Year TIPS Bond ETF (ICPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYGI

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

ICPI

• 1D: 0.06%
• 1M: 0.10%
• 6M: 2.66%
• YTD: 2.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYGI vs. ICPI - Yearly Performance Comparison

	2026 (YTD)	2025
HYGI iShares Inflation Hedged High Yield Bond ETF	0.00%	0.00%
ICPI iShares 0-1 Year TIPS Bond ETF	2.81%	0.32%

Return for Risk

HYGI vs. ICPI - 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 0-1 Year TIPS Bond ETF (ICPI). 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.

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

Drawdowns

Drawdown Indicators

	HYGI	ICPI	Difference
Max Drawdown Largest peak-to-trough decline	—	-0.34%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.05%	—

Volatility

Volatility by Period

	HYGI	ICPI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	0.95%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	0.95%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.95%	—

HYGI vs. ICPI - Expense Ratio Comparison

HYGI has a 0.52% expense ratio, which is higher than ICPI's 0.09% expense ratio.

Dividends

HYGI vs. ICPI - Dividend Comparison

HYGI has not paid dividends to shareholders, while ICPI's dividend yield for the trailing twelve months is around 2.56%.

Position	TTM	2025	2024	2023	2022
HYGI iShares Inflation Hedged High Yield Bond ETF	0.50%	3.41%	6.08%	6.22%	3.19%
ICPI iShares 0-1 Year TIPS Bond ETF	2.56%	0.54%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, HYGI or ICPI?

On fees, ICPI is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYGI or ICPI?

ICPI is cheaper with a 0.09% expense ratio, compared with 0.52% for HYGI.

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

ICPI has the higher dividend yield at 2.56%, compared with 0.50% for HYGI.

What is the main difference between HYGI and ICPI?

HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while ICPI tracks ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index. Their fees differ too: 0.52% for HYGI and 0.09% for ICPI.