IBHD vs. HYBL

Last updated Jul 12, 2026

IBHD (iShares iBonds 2024 Term High Yield & Income ETF) and HYBL (SPDR Blackstone High Income ETF) are both High Yield Bonds funds. IBHD is passively managed, while HYBL is actively managed. IBHD charges 0.35%/yr vs 0.70%/yr for HYBL.

Performance

IBHD vs. HYBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2024 Term High Yield & Income ETF (IBHD) and SPDR Blackstone High Income ETF (HYBL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBHD

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

HYBL

• 1D: 0.02%
• 1M: 0.32%
• 6M: 1.10%
• YTD: 1.45%
• 1Y: 5.09%
• 3Y*: 8.23%
• 5Y*: —
• 10Y*: —

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

IBHD vs. HYBL - Yearly Performance Comparison

	2026 (YTD)
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%
HYBL SPDR Blackstone High Income ETF	1.61%

Return for Risk

IBHD vs. HYBL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBHD

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

HYBL

HYBL Risk / Return Rank: 69
HYBL Sharpe Ratio Rank: 75
HYBL Sortino Ratio Rank: 81
HYBL Omega Ratio Rank: 80
HYBL Calmar Ratio Rank: 51
HYBL Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBHD vs. HYBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2024 Term High Yield & Income ETF (IBHD) and SPDR Blackstone High Income ETF (HYBL). 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.

	IBHD	HYBL	Difference
Sharpe ratio: Return per unit of total volatility	—	1.91	—
Sortino ratio: Return per unit of downside risk	—	2.88	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	2.07	—
Martin ratio: Return relative to average drawdown	—	7.59	—

Drawdowns

Drawdown Indicators

	IBHD	HYBL	Difference
Max Drawdown Largest peak-to-trough decline	—	-8.46%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.41%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.32%	—
Current Drawdown Current decline from peak	—	-0.02%	—
Average Drawdown Average peak-to-trough decline	—	-1.32%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.66%	—

Volatility

Volatility by Period

	IBHD	HYBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.51%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	2.62%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	4.53%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.53%	—

IBHD vs. HYBL - Expense Ratio Comparison

IBHD has a 0.35% expense ratio, which is lower than HYBL's 0.70% expense ratio.

Dividends

IBHD vs. HYBL - Dividend Comparison

IBHD has not paid dividends to shareholders, while HYBL's dividend yield for the trailing twelve months is around 7.08%.

Position	TTM	2025	2024	2023	2022
HYBL SPDR Blackstone High Income ETF	7.08%	7.22%	7.88%	7.93%	5.10%
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, IBHD or HYBL?

On fees, IBHD is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBHD or HYBL?

IBHD is cheaper with a 0.35% expense ratio, compared with 0.70% for HYBL.

Which ETF pays a higher dividend yield, IBHD or HYBL?

HYBL has the higher dividend yield at 7.08%, compared with 0.00% for IBHD.

What is the main difference between IBHD and HYBL?

They also come from different issuers: iShares and State Street. Their fees differ too: 0.35% for IBHD and 0.70% for HYBL.