HYZD vs. IBHD
Compare and contrast key facts about WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD).
HYZD and IBHD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYZD is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. It was launched on Dec 18, 2013. IBHD is a passively managed fund by iShares that tracks the performance of the Bloomberg 2024 Term High Yield and Income Index. It was launched on May 7, 2019. Both HYZD and IBHD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYZD or IBHD.
Key characteristics
| HYZD | IBHD | |
|---|---|---|
| YTD Return | 9.31% | 5.24% |
| 1Y Return | 12.76% | 7.10% |
| 3Y Return (Ann) | 6.15% | 3.91% |
| 5Y Return (Ann) | 4.85% | 4.04% |
| Sharpe Ratio | 2.87 | 4.18 |
| Sortino Ratio | 4.41 | 6.54 |
| Omega Ratio | 1.56 | 2.06 |
| Calmar Ratio | 4.80 | 14.08 |
| Martin Ratio | 27.53 | 80.13 |
| Ulcer Index | 0.47% | 0.09% |
| Daily Std Dev | 4.47% | 1.73% |
| Max Drawdown | -25.66% | -20.11% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between HYZD and IBHD is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
HYZD vs. IBHD - Performance Comparison
In the year-to-date period, HYZD achieves a 9.31% return, which is significantly higher than IBHD's 5.24% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HYZD vs. IBHD - Expense Ratio Comparison
HYZD has a 0.43% expense ratio, which is higher than IBHD's 0.35% expense ratio.
Risk-Adjusted Performance
HYZD vs. IBHD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD). 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.
Dividends
HYZD vs. IBHD - Dividend Comparison
HYZD's dividend yield for the trailing twelve months is around 6.09%, less than IBHD's 6.27% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 6.09% | 5.94% | 5.14% | 4.02% | 5.14% | 5.51% | 5.58% | 4.95% | 5.07% | 4.38% | 3.82% | 0.10% |
IBHD iShares iBonds 2024 Term High Yield & Income ETF | 6.27% | 6.90% | 4.91% | 4.43% | 5.50% | 3.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
HYZD vs. IBHD - Drawdown Comparison
The maximum HYZD drawdown since its inception was -25.66%, which is greater than IBHD's maximum drawdown of -20.11%. Use the drawdown chart below to compare losses from any high point for HYZD and IBHD. For additional features, visit the drawdowns tool.
Volatility
HYZD vs. IBHD - Volatility Comparison
WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) has a higher volatility of 1.16% compared to iShares iBonds 2024 Term High Yield & Income ETF (IBHD) at 0.25%. This indicates that HYZD's price experiences larger fluctuations and is considered to be riskier than IBHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.