HYZD vs. IBHM
HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) and IBHM (iShares iBonds 2033 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 IBHM tracks the Bloomberg 2033 Term High Yield and Income Index. Both are passively managed. At a 0.32 correlation, their price movements are largely independent. HYZD charges 0.43%/yr vs 0.35%/yr for IBHM.
Performance
HYZD vs. IBHM - Performance Comparison
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Returns By Period
HYZD
- 1D
- 0.35%
- 1M
- 0.87%
- YTD
- 2.88%
- 6M
- 3.60%
- 1Y
- 7.82%
- 3Y*
- 9.46%
- 5Y*
- 6.30%
- 10Y*
- 5.60%
IBHM
- 1D
- 0.18%
- 1M
- 0.27%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYZD vs. IBHM - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 3.09% |
IBHM iShares iBonds 2033 Term High Yield and Income ETF | 2.83% |
Correlation
The correlation between HYZD and IBHM is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Mar 27, 2026 | 0.32 |
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Return for Risk
HYZD vs. IBHM — Risk / Return Rank
HYZD
IBHM
HYZD vs. IBHM - 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 2033 Term High Yield and Income ETF (IBHM). 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 | IBHM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.51 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.11 | — | — |
| Martin ratioReturn relative to average drawdown | 17.47 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYZD | IBHM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.48 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 2.97 | -2.46 |
Drawdowns
HYZD vs. IBHM - Drawdown Comparison
The maximum HYZD drawdown since its inception was -25.66%, which is greater than IBHM's maximum drawdown of -1.67%. Use the drawdown chart below to compare losses from any high point for HYZD and IBHM.
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Drawdown Indicators
| HYZD | IBHM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.66% | -1.67% | -23.99% |
Max Drawdown (1Y)Largest decline over 1 year | -1.91% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.85% | — | — |
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 | 0.00% | -0.30% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -2.20% | -0.43% | -1.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | — | — |
Volatility
HYZD vs. IBHM - Volatility Comparison
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Volatility by Period
| HYZD | IBHM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.37% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.17% | 5.37% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 5.37% | +1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.57% | 5.37% | +3.20% |
HYZD vs. IBHM - Expense Ratio Comparison
HYZD has a 0.43% expense ratio, which is higher than IBHM's 0.35% expense ratio.
Dividends
HYZD vs. IBHM - Dividend Comparison
HYZD's dividend yield for the trailing twelve months is around 5.87%, more than IBHM's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.87% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
IBHM iShares iBonds 2033 Term High Yield and Income ETF | 1.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYZD and IBHM have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBHM is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBHM is cheaper with a 0.35% expense ratio, compared with 0.43% for HYZD.
HYZD has the higher dividend yield at 5.87%, compared with 1.08% for IBHM.
HYZD tracks WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index, while IBHM tracks Bloomberg 2033 Term High Yield and Income Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.43% for HYZD and 0.35% for IBHM.
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