IBHD vs. USHY

Last updated Jun 4, 2026

IBHD (iShares iBonds 2024 Term High Yield & Income ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds from iShares - IBHD tracks the Bloomberg 2024 Term High Yield and Income Index while USHY tracks the ICE BofA US High Yield Constrained. Both are passively managed. IBHD charges 0.35%/yr vs 0.15%/yr for USHY.

Performance

IBHD vs. USHY - 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 Broad USD High Yield Corporate Bond ETF (USHY). 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*: —

USHY

• 1D: -0.27%
• 1M: 0.40%
• YTD: 1.42%
• 6M: 1.77%
• 1Y: 7.02%
• 3Y*: 8.91%
• 5Y*: 4.24%
• 10Y*: —

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

IBHD vs. USHY - Yearly Performance Comparison

	2026 (YTD)
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%
USHY iShares Broad USD High Yield Corporate Bond ETF	0.64%

Return for Risk

IBHD vs. USHY — Risk / Return Rank

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

USHY

USHY Risk / Return Rank: 60
USHY Sharpe Ratio Rank: 55
USHY Sortino Ratio Rank: 61
USHY Omega Ratio Rank: 60
USHY Calmar Ratio Rank: 58
USHY Martin Ratio Rank: 69

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. USHY - 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 Broad USD High Yield Corporate Bond ETF (USHY). 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.

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

Sharpe Ratios by Period

	IBHD	USHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.93	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.58	—

Drawdowns

IBHD vs. USHY - Drawdown Comparison

The maximum IBHD drawdown since its inception was 0.00%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for IBHD and USHY.

Drawdown Indicators

	IBHD	USHY	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-22.44%	+22.44%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.43%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.56%	—
Current Drawdown Current decline from peak	0.00%	-0.27%	+0.27%
Average Drawdown Average peak-to-trough decline	0.00%	-2.67%	+2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.54%	—

Volatility

Volatility by Period

	IBHD	USHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.13%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.91%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	3.65%	-3.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	7.34%	-7.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	8.25%	-8.25%

IBHD vs. USHY - Expense Ratio Comparison

IBHD has a 0.35% expense ratio, which is higher than USHY's 0.15% expense ratio.

Dividends

IBHD vs. USHY - Dividend Comparison

IBHD has not paid dividends to shareholders, while USHY's dividend yield for the trailing twelve months is around 6.92%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%	0.00%	0.00%
USHY iShares Broad USD High Yield Corporate Bond ETF	6.92%	6.79%	6.89%	6.63%	6.08%	5.07%	5.30%	5.92%	6.30%	0.73%

Frequently Asked Questions

Which ETF is better, IBHD or USHY?

On fees, USHY is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBHD or USHY?

USHY is cheaper with a 0.15% expense ratio, compared with 0.35% for IBHD.

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

USHY has the higher dividend yield at 6.92%, compared with 0.00% for IBHD.

What is the main difference between IBHD and USHY?

IBHD tracks Bloomberg 2024 Term High Yield and Income Index, while USHY tracks ICE BofA US High Yield Constrained. Their fees differ too: 0.35% for IBHD and 0.15% for USHY.