IBHD vs. IBHE

Last updated Jun 23, 2026

IBHD (iShares iBonds 2024 Term High Yield & Income ETF) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both High Yield Bonds funds from iShares - IBHD tracks the Bloomberg 2024 Term High Yield and Income Index while IBHE tracks the Bloomberg 2025 Term High Yield and Income Index. Both are passively managed. Both charge a 0.35% expense ratio.

Performance

IBHD vs. IBHE - 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 iShares iBonds 2025 Term High Yield & Income ETF (IBHE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBHD

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBHE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 2.00%
• 3Y*: 5.93%
• 5Y*: 3.89%
• 10Y*: —

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

IBHD vs. IBHE - Yearly Performance Comparison

	2026 (YTD)
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%
IBHE iShares iBonds 2025 Term High Yield & Income ETF	0.00%

Return for Risk

IBHD vs. IBHE - 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 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.

	IBHD	IBHE	Difference
Sharpe ratio: Return per unit of total volatility	—	3.89	—
Sortino ratio: Return per unit of downside risk	—	7.42	—
Omega ratio: Gain probability vs. loss probability	—	2.32	—
Calmar ratio: Return relative to maximum drawdown	—	25.02	—
Martin ratio: Return relative to average drawdown	—	98.47	—

Drawdowns

IBHD vs. IBHE - Drawdown Comparison

The maximum IBHD drawdown since its inception was 0.00%, smaller than the maximum IBHE drawdown of -26.91%. Use the drawdown chart below to compare losses from any high point for IBHD and IBHE.

Drawdown Indicators

	IBHD	IBHE	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-26.91%	+26.91%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.11%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.51%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	-1.42%	+1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.05%	—

Volatility

Volatility by Period

	IBHD	IBHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.38%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	0.74%	-0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	4.87%	-4.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	11.52%	-11.52%

IBHD vs. IBHE - Expense Ratio Comparison

Both IBHD and IBHE have an expense ratio of 0.35%.

Dividends

IBHD vs. IBHE - Dividend Comparison

Neither IBHD nor IBHE has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBHE iShares iBonds 2025 Term High Yield & Income ETF	2.29%	4.53%	6.92%	7.17%	5.77%	4.84%	5.74%	3.73%

Frequently Asked Questions

Which ETF is better, IBHD or IBHE?

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBHD or IBHE?

IBHD and IBHE have the same expense ratio: 0.35% per year.

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

IBHE has the higher dividend yield at 2.29%, compared with 0.00% for IBHD.

What is the main difference between IBHD and IBHE?

IBHD tracks Bloomberg 2024 Term High Yield and Income Index, while IBHE tracks Bloomberg 2025 Term High Yield and Income Index.