IBHE vs. BND
Compare and contrast key facts about iShares iBonds 2025 Term High Yield & Income ETF (IBHE) and Vanguard Total Bond Market ETF (BND).
IBHE and BND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IBHE is a passively managed fund by iShares that tracks the performance of the Bloomberg 2025 Term High Yield and Income Index. It was launched on May 7, 2019. BND is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Aggregate Float Adjusted Index. It was launched on Apr 3, 2007. Both IBHE and BND are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IBHE vs. BND - Performance Comparison
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IBHE vs. BND - 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% | 5.91% |
BND Vanguard Total Bond Market ETF | 0.05% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 5.43% |
Returns By Period
IBHE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.86%
- 1Y
- 3.31%
- 3Y*
- 6.40%
- 5Y*
- 4.09%
- 10Y*
- —
BND
- 1D
- 0.22%
- 1M
- -1.74%
- YTD
- 0.05%
- 6M
- 0.95%
- 1Y
- 4.24%
- 3Y*
- 3.59%
- 5Y*
- 0.24%
- 10Y*
- 1.67%
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IBHE vs. BND - Expense Ratio Comparison
IBHE has a 0.35% expense ratio, which is higher than BND's 0.03% expense ratio.
Return for Risk
IBHE vs. BND — Risk / Return Rank
IBHE
BND
IBHE vs. BND - 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 Vanguard Total Bond Market ETF (BND). 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.
| IBHE | BND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.96 | 0.99 | +1.97 |
Sortino ratioReturn per unit of downside risk | 4.18 | 1.41 | +2.78 |
Omega ratioGain probability vs. loss probability | 1.98 | 1.18 | +0.81 |
Calmar ratioReturn relative to maximum drawdown | 5.52 | 1.81 | +3.71 |
Martin ratioReturn relative to average drawdown | 51.15 | 4.98 | +46.17 |
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
| IBHE | BND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.96 | 0.99 | +1.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | 0.04 | +0.83 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.59 | -0.18 |
Correlation
The correlation between IBHE and BND is 0.24, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
IBHE vs. BND - Dividend Comparison
IBHE's dividend yield for the trailing twelve months is around 3.60%, less than BND's 3.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 3.60% | 4.53% | 6.92% | 7.17% | 5.77% | 4.84% | 5.74% | 3.73% | 0.00% | 0.00% | 0.00% | 0.00% |
BND Vanguard Total Bond Market ETF | 3.91% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
Drawdowns
IBHE vs. BND - Drawdown Comparison
The maximum IBHE drawdown since its inception was -26.91%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for IBHE and BND.
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Drawdown Indicators
| IBHE | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.91% | -18.58% | -8.33% |
Max Drawdown (1Y)Largest decline over 1 year | -0.73% | -2.44% | +1.71% |
Max Drawdown (5Y)Largest decline over 5 years | -8.51% | -17.91% | +9.40% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.58% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.58% | +2.58% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -3.07% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 0.89% | -0.81% |
Volatility
IBHE vs. BND - Volatility Comparison
The current volatility for iShares iBonds 2025 Term High Yield & Income ETF (IBHE) is 0.00%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.63%. This indicates that IBHE experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBHE | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 1.63% | -1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 0.49% | 2.52% | -2.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 4.30% | -2.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.90% | 6.00% | -1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.68% | 5.52% | +6.16% |