IBHE vs. EIFAX
IBHE (iShares iBonds 2025 Term High Yield & Income ETF) and EIFAX (Eaton Vance Floating-Rate Advantage Fund) are both funds - IBHE is a High Yield Bonds fund tracking the Bloomberg 2025 Term High Yield and Income Index, while EIFAX is a Bank Loan fund managed by Eaton Vance. Over the past 5 years, IBHE returned 3.89%/yr vs 4.87%/yr for EIFAX. At a 0.22 correlation, their price movements are largely independent. IBHE charges 0.35%/yr vs 0.47%/yr for EIFAX.
Performance
IBHE vs. EIFAX - Performance Comparison
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Returns By Period
IBHE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 1.96%
- 3Y*
- 5.93%
- 5Y*
- 3.89%
- 10Y*
- —
EIFAX
- 1D
- -0.11%
- 1M
- 0.27%
- YTD
- 0.37%
- 6M
- 0.85%
- 1Y
- 3.49%
- 3Y*
- 6.86%
- 5Y*
- 4.87%
- 10Y*
- 5.09%
IBHE vs. EIFAX - 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% |
EIFAX Eaton Vance Floating-Rate Advantage Fund | 0.37% | 4.54% | 8.91% | 11.86% | -2.98% | 5.41% | 1.90% | 2.89% |
Correlation
The correlation between IBHE and EIFAX is 0.04, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since May 9, 2019 | 0.22 |
The correlation between IBHE and EIFAX shifts across timeframes, from 0.04 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBHE vs. EIFAX — Risk / Return Rank
IBHE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EIFAX
IBHE vs. EIFAX - 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 Eaton Vance Floating-Rate Advantage Fund (EIFAX). 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 | EIFAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.54 | ||
| Sortino ratioReturn per unit of downside risk | +4.56 | ||
| Omega ratioGain probability vs. loss probability | 2.32 | 1.40 | +0.91 |
| Calmar ratioReturn relative to maximum drawdown | 25.02 | 1.53 | +23.49 |
| Martin ratioReturn relative to average drawdown | 98.47 | 4.61 | +93.86 |
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Drawdowns
IBHE vs. EIFAX - Drawdown Comparison
The maximum IBHE drawdown since its inception was -26.91%, smaller than the maximum EIFAX drawdown of -40.28%. Use the drawdown chart below to compare losses from any high point for IBHE and EIFAX.
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Drawdown Indicators
| IBHE | EIFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.91% | -40.28% | +13.37% |
Max Drawdown (1Y)Largest decline over 1 year | -0.11% | -2.29% | +2.18% |
Max Drawdown (3Y)Largest decline over 3 years | -0.94% | -3.43% | +2.49% |
Max Drawdown (5Y)Largest decline over 5 years | -8.51% | -7.63% | -0.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.22% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.32% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -2.26% | +0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.76% | -0.71% |
Volatility
IBHE vs. EIFAX - Volatility Comparison
The current volatility for iShares iBonds 2025 Term High Yield & Income ETF (IBHE) is 0.00%, while Eaton Vance Floating-Rate Advantage Fund (EIFAX) has a volatility of 0.70%. This indicates that IBHE experiences smaller price fluctuations and is considered to be less risky than EIFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBHE | EIFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 0.70% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 0.38% | 1.98% | -1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.74% | 2.59% | -1.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.87% | 3.15% | +1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.52% | 4.46% | +7.06% |
IBHE vs. EIFAX - Expense Ratio Comparison
IBHE has a 0.35% expense ratio, which is lower than EIFAX's 0.47% expense ratio.
Dividends
IBHE vs. EIFAX - Dividend Comparison
IBHE has not paid dividends to shareholders, while EIFAX's dividend yield for the trailing twelve months is around 7.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIFAX Eaton Vance Floating-Rate Advantage Fund | 7.64% | 8.09% | 8.91% | 7.02% | 5.92% | 4.03% | 4.51% | 5.58% | 5.10% | 4.46% | 5.02% | 5.29% |
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% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBHE and EIFAX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EIFAX has higher volatility (0.70%) compared to IBHE (0.00%). In terms of maximum drawdown, IBHE dropped -26.91% vs EIFAX's -40.28%.
IBHE currently has the higher Sharpe Ratio (3.89 vs 1.35), 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.
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