IBHE vs. ACWI
IBHE (iShares iBonds 2025 Term High Yield & Income ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - IBHE is a High Yield Bonds fund tracking the Bloomberg 2025 Term High Yield and Income Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. A 0.58 correlation means they provide meaningful diversification when combined. IBHE charges 0.35%/yr vs 0.32%/yr for ACWI.
Performance
IBHE vs. ACWI - Performance Comparison
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Returns By Period
IBHE
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ACWI
- 1D
- -0.74%
- 1M
- -0.62%
- 6M
- 8.53%
- YTD
- 11.23%
- 1Y
- 22.75%
- 3Y*
- 18.82%
- 5Y*
- 11.06%
- 10Y*
- 12.50%
IBHE vs. ACWI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 0.00% | 4.45% | 7.62% | 10.32% | -4.08% | 4.40% | 4.16% | 5.49% |
ACWI iShares MSCI ACWI ETF | 11.23% | 22.41% | 17.45% | 22.27% | -18.39% | 18.66% | 16.34% | 11.57% |
Correlation
The correlation between IBHE and ACWI is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since May 9, 2019 | 0.58 |
Over the past year, the correlation between IBHE and ACWI has dropped to 0.01 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.
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Return for Risk
IBHE vs. ACWI — Risk / Return Rank
IBHE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ACWI
IBHE vs. ACWI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2025 Term High Yield & Income ETF (IBHE) and iShares MSCI ACWI ETF (ACWI). 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.
| IBHE | ACWI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.35 | — |
| Martin ratioReturn relative to average drawdown | — | 10.02 | — |
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Drawdowns
IBHE vs. ACWI - Drawdown Comparison
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Drawdown Indicators
| IBHE | ACWI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -56.00% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.73% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.55% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.53% | — |
Current DrawdownCurrent decline from peak | — | -1.62% | — |
Average DrawdownAverage peak-to-trough decline | — | -8.57% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.27% | — |
Volatility
IBHE vs. ACWI - Volatility Comparison
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Volatility by Period
| IBHE | ACWI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.85% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.53% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 13.72% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 16.21% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 17.04% | — |
IBHE vs. ACWI - Expense Ratio Comparison
IBHE has a 0.35% expense ratio, which is higher than ACWI's 0.32% expense ratio.
Dividends
IBHE vs. ACWI - Dividend Comparison
IBHE has not paid dividends to shareholders, while ACWI's dividend yield for the trailing twelve months is around 1.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 1.44% | 1.55% | 1.70% | 1.88% | 1.79% | 1.71% | 1.43% | 2.33% | 2.18% | 1.94% | 2.19% | 2.56% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 1.87% | 4.53% | 6.92% | 7.17% | 5.77% | 4.84% | 5.74% | 3.73% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBHE and ACWI have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ACWI is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ACWI is cheaper with a 0.32% expense ratio, compared with 0.35% for IBHE.
IBHE has the higher dividend yield at 1.87%, compared with 1.44% for ACWI.
IBHE is categorized as High Yield Bonds, while ACWI is Global Equities. IBHE tracks Bloomberg 2025 Term High Yield and Income Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.35% for IBHE and 0.32% for ACWI.
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