HYZD vs. IBHG
HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) and IBHG (iShares iBonds 2027 Term High Yield and Income ETF) are both High Yield Bonds funds - HYZD tracks the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index while IBHG tracks the Bloomberg 2027 Term High Yield and Income Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, HYZD returned 9.28%/yr vs 7.37%/yr for IBHG. A 0.55 correlation means they provide meaningful diversification when combined. HYZD charges 0.43%/yr vs 0.35%/yr for IBHG.
Performance
HYZD vs. IBHG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HYZD achieves a 2.51% return, which is significantly higher than IBHG's 0.96% return.
HYZD
- 1D
- 0.09%
- 1M
- 0.69%
- YTD
- 2.51%
- 6M
- 3.22%
- 1Y
- 7.66%
- 3Y*
- 9.28%
- 5Y*
- 6.22%
- 10Y*
- 5.57%
IBHG
- 1D
- -0.09%
- 1M
- 0.21%
- YTD
- 0.96%
- 6M
- 1.46%
- 1Y
- 4.61%
- 3Y*
- 7.37%
- 5Y*
- —
- 10Y*
- —
HYZD vs. IBHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 2.51% | 7.67% | 9.39% | 11.17% | -2.35% | 2.12% |
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 0.96% | 6.90% | 7.42% | 11.27% | -8.88% | 1.07% |
Correlation
The correlation between HYZD and IBHG is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2021 | 0.55 |
Over the past year, the correlation between HYZD and IBHG has dropped to 0.24 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HYZD vs. IBHG — Risk / Return Rank
HYZD
IBHG
HYZD vs. IBHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) and iShares iBonds 2027 Term High Yield and Income ETF (IBHG). 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.
| HYZD | IBHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.42 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.03 | 6.38 | -2.35 |
| Martin ratioReturn relative to average drawdown | 17.08 | 23.30 | -6.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HYZD | IBHG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.44 | 2.20 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.56 | -0.06 |
Drawdowns
HYZD vs. IBHG - Drawdown Comparison
The maximum HYZD drawdown since its inception was -25.66%, which is greater than IBHG's maximum drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for HYZD and IBHG.
Loading charts...
Drawdown Indicators
| HYZD | IBHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.66% | -13.85% | -11.81% |
Max Drawdown (1Y)Largest decline over 1 year | -1.91% | -0.73% | -1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -5.85% | -3.39% | -2.46% |
Max Drawdown (5Y)Largest decline over 5 years | -8.97% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.66% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -0.22% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -2.20% | -2.67% | +0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.20% | +0.25% |
Volatility
HYZD vs. IBHG - Volatility Comparison
WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) has a higher volatility of 0.96% compared to iShares iBonds 2027 Term High Yield and Income ETF (IBHG) at 0.58%. This indicates that HYZD's price experiences larger fluctuations and is considered to be riskier than IBHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HYZD | IBHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 0.58% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 1.53% | +0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.15% | 2.11% | +1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 6.37% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.57% | 6.37% | +2.20% |
HYZD vs. IBHG - Expense Ratio Comparison
HYZD has a 0.43% expense ratio, which is higher than IBHG's 0.35% expense ratio.
Dividends
HYZD vs. IBHG - Dividend Comparison
HYZD's dividend yield for the trailing twelve months is around 5.89%, less than IBHG's 6.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.89% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 6.08% | 6.33% | 7.02% | 6.66% | 5.62% | 2.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYZD and IBHG have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYZD has higher volatility (0.96%) compared to IBHG (0.58%). In terms of maximum drawdown, HYZD dropped -25.66% vs IBHG's -13.85%.
On 3-year performance, HYZD leads with 9.28% vs 7.37% for IBHG. On fees, IBHG is cheaper at 0.35% per year. On volatility, IBHG has been the lower-risk option at 0.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYZD has performed better with a 9.28% return vs 7.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHG is cheaper with a 0.35% expense ratio, compared with 0.43% for HYZD.
IBHG has the higher dividend yield at 6.08%, compared with 5.89% for HYZD.
HYZD tracks WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index, while IBHG tracks Bloomberg 2027 Term High Yield and Income Index - Benchmark TR Gross. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.43% for HYZD and 0.35% for IBHG.
HYZD currently has the higher Sharpe Ratio (2.44 vs 2.20), 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.
Find the right allocation for HYZD and IBHG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer