IBHE vs. BSJQ

Last updated Jun 4, 2026

IBHE (iShares iBonds 2025 Term High Yield & Income ETF) and BSJQ (Invesco BulletShares 2026 High Yield Corp Bond ETF) are both High Yield Bonds funds - IBHE tracks the Bloomberg 2025 Term High Yield and Income Index while BSJQ tracks the NASDAQ BulletShares USD High Yield Corporate Bond 2026 TR Index. Both are passively managed. Over the past 5 years, IBHE returned 3.89%/yr vs 3.74%/yr for BSJQ. A 0.74 correlation means they provide meaningful diversification when combined. IBHE charges 0.35%/yr vs 0.42%/yr for BSJQ.

Performance

IBHE vs. BSJQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2025 Term High Yield & Income ETF (IBHE) and Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBHE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.09%
• 1Y: 2.31%
• 3Y*: 6.07%
• 5Y*: 3.89%
• 10Y*: —

BSJQ

• 1D: 0.00%
• 1M: -0.28%
• YTD: 0.85%
• 6M: 1.28%
• 1Y: 4.62%
• 3Y*: 6.94%
• 5Y*: 3.74%
• 10Y*: —

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

IBHE vs. BSJQ - 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%
BSJQ Invesco BulletShares 2026 High Yield Corp Bond ETF	0.85%	6.59%	7.49%	9.83%	-7.35%	4.53%	2.80%	6.81%

Correlation

The correlation between IBHE and BSJQ is -0.03, 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	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since May 10, 2019	0.74

The correlation between IBHE and BSJQ shifts across timeframes, from -0.03 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

IBHE vs. BSJQ - Sectors Allocation Comparison

Sectors	IBHE	BSJQ
Real Estate	100.0%	3.6%
Basic Materials	-	-
Communication Services	-	1.8%
Consumer Cyclical	-	7.0%
Consumer Defensive	-	-
Energy	-	1.6%
Financial Services	-	39.0%
Healthcare	-	-
Industrials	-	2.1%
Technology	-	5.0%
Utilities	-	-

Return for Risk

IBHE vs. BSJQ — Risk / Return Rank

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

IBHE

IBHE Risk / Return Rank: 97
IBHE Sharpe Ratio Rank: 93
IBHE Sortino Ratio Rank: 97
IBHE Omega Ratio Rank: 98
IBHE Calmar Ratio Rank: 98
IBHE Martin Ratio Rank: 98

BSJQ

BSJQ Risk / Return Rank: 95
BSJQ Sharpe Ratio Rank: 92
BSJQ Sortino Ratio Rank: 95
BSJQ Omega Ratio Rank: 95
BSJQ Calmar Ratio Rank: 95
BSJQ Martin Ratio Rank: 97

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.

IBHE vs. BSJQ - 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 Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ). 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	BSJQ	Difference
Sharpe ratio: Return per unit of total volatility	3.51	3.35	+0.16
Sortino ratio: Return per unit of downside risk	6.33	5.25	+1.09
Omega ratio: Gain probability vs. loss probability	2.19	1.76	+0.43
Calmar ratio: Return relative to maximum drawdown	12.78	8.57	+4.22
Martin ratio: Return relative to average drawdown	63.40	41.55	+21.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBHE vs. BSJQ - Sharpe Ratio Comparison

The current IBHE Sharpe Ratio is 3.51, which is comparable to the BSJQ Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of IBHE and BSJQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBHE	BSJQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.51	3.35	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.66	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.54	-0.13

Drawdowns

IBHE vs. BSJQ - Drawdown Comparison

The maximum IBHE drawdown since its inception was -26.91%, which is greater than BSJQ's maximum drawdown of -24.13%. Use the drawdown chart below to compare losses from any high point for IBHE and BSJQ.

Drawdown Indicators

	IBHE	BSJQ	Difference
Max Drawdown Largest peak-to-trough decline	-26.91%	-24.13%	-2.78%
Max Drawdown (1Y) Largest decline over 1 year	-0.22%	-0.54%	+0.32%
Max Drawdown (3Y) Largest decline over 3 years	-0.94%	-2.66%	+1.72%
Max Drawdown (5Y) Largest decline over 5 years	-8.51%	-11.95%	+3.44%
Current Drawdown Current decline from peak	0.00%	-0.43%	+0.43%
Average Drawdown Average peak-to-trough decline	-1.42%	-2.17%	+0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.05%	0.11%	-0.06%

Volatility

IBHE vs. BSJQ - Volatility Comparison

The current volatility for iShares iBonds 2025 Term High Yield & Income ETF (IBHE) is 0.00%, while Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ) has a volatility of 0.54%. This indicates that IBHE experiences smaller price fluctuations and is considered to be less risky than BSJQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBHE	BSJQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	0.54%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	0.39%	0.98%	-0.59%
Volatility (1Y) Calculated over the trailing 1-year period	0.78%	1.38%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.87%	5.73%	-0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.53%	8.45%	+3.08%

IBHE vs. BSJQ - Expense Ratio Comparison

IBHE has a 0.35% expense ratio, which is lower than BSJQ's 0.42% expense ratio.

Dividends

IBHE vs. BSJQ - Dividend Comparison

IBHE's dividend yield for the trailing twelve months is around 2.29%, less than BSJQ's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BSJQ Invesco BulletShares 2026 High Yield Corp Bond ETF	5.83%	6.10%	6.58%	6.58%	5.58%	4.27%	4.64%	4.59%	2.39%
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%	0.00%

Frequently Asked Questions

Can I hold both IBHE and BSJQ in my portfolio?

IBHE and BSJQ have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBHE or BSJQ?

BSJQ has higher volatility (0.54%) compared to IBHE (0.00%). In terms of maximum drawdown, IBHE dropped -26.91% vs BSJQ's -24.13%.

Which ETF is better, IBHE or BSJQ?

On 5-year performance, IBHE leads with 3.89% vs 3.74% for BSJQ. On fees, IBHE is cheaper at 0.35% per year. On volatility, IBHE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHE or BSJQ?

Over the 5-year period, IBHE has performed better with a 3.89% return vs 3.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHE or BSJQ?

IBHE is cheaper with a 0.35% expense ratio, compared with 0.42% for BSJQ.

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

BSJQ has the higher dividend yield at 5.83%, compared with 2.29% for IBHE.

What is the main difference between IBHE and BSJQ?

IBHE tracks Bloomberg 2025 Term High Yield and Income Index, while BSJQ tracks NASDAQ BulletShares USD High Yield Corporate Bond 2026 TR Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.35% for IBHE and 0.42% for BSJQ.

Which has better risk-adjusted returns?

IBHE currently has the higher Sharpe Ratio (3.51 vs 3.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.