HYRM vs. IBHE

Last updated Jul 12, 2026

HYRM (Xtrackers Risk Managed USD High Yield Strategy ETF) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both High Yield Bonds funds - HYRM tracks the Adaptive Wealth Strategies Risk Managed High Yield Index - USD - US Dollar - Benchmark TR Net while IBHE tracks the Bloomberg 2025 Term High Yield and Income Index. Both are passively managed. A 0.66 correlation means they provide meaningful diversification when combined. HYRM charges 0.30%/yr vs 0.35%/yr for IBHE.

Performance

HYRM vs. IBHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYRM

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

IBHE

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

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

HYRM vs. IBHE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HYRM Xtrackers Risk Managed USD High Yield Strategy ETF	1.50%	5.98%	7.81%	11.98%	-7.88%
IBHE iShares iBonds 2025 Term High Yield & Income ETF	0.00%	4.45%	7.62%	10.32%	-2.91%

Correlation

The correlation between HYRM and IBHE is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022	0.66

Over the past year, the correlation between HYRM and IBHE has dropped to 0.01 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

HYRM vs. IBHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). 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

Volatility

HYRM vs. IBHE - Expense Ratio Comparison

HYRM has a 0.30% expense ratio, which is lower than IBHE's 0.35% expense ratio.

Dividends

HYRM vs. IBHE - Dividend Comparison

HYRM's dividend yield for the trailing twelve months is around 5.42%, while IBHE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HYRM Xtrackers Risk Managed USD High Yield Strategy ETF	5.42%	6.28%	6.08%	5.78%	4.69%	0.00%	0.00%	0.00%
IBHE iShares iBonds 2025 Term High Yield & Income ETF	1.87%	4.53%	6.92%	7.17%	5.77%	4.84%	5.74%	3.73%

Frequently Asked Questions

Can I hold both HYRM and IBHE in my portfolio?

HYRM and IBHE have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYRM or IBHE?

On fees, HYRM is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYRM or IBHE?

HYRM is cheaper with a 0.30% expense ratio, compared with 0.35% for IBHE.

Which ETF pays a higher dividend yield, HYRM or IBHE?

HYRM has the higher dividend yield at 5.42%, compared with 1.87% for IBHE.

What is the main difference between HYRM and IBHE?

HYRM tracks Adaptive Wealth Strategies Risk Managed High Yield Index - USD - US Dollar - Benchmark TR Net, while IBHE tracks Bloomberg 2025 Term High Yield and Income Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.30% for HYRM and 0.35% for IBHE.