IBHE vs. EIFAX

Last updated Jul 14, 2026

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. 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

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2025 Term High Yield & Income ETF (IBHE) and Eaton Vance Floating-Rate Advantage Fund (EIFAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBHE

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EIFAX

• 1D: 0.00%
• 1M: 0.35%
• 6M: 0.30%
• YTD: 0.61%
• 1Y: 2.64%
• 3Y*: 6.39%
• 5Y*: 4.85%
• 10Y*: 5.01%

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

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	0.61%	4.54%	8.91%	11.86%	-2.98%	5.41%	1.90%	2.89%

Correlation

The correlation between IBHE and EIFAX 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	0.13
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

Over the past year, the correlation between IBHE and EIFAX has dropped to 0.01 - well below their long-term average of 0.22, suggesting their price drivers have been diverging.

Return for Risk

IBHE vs. EIFAX — Risk / Return Rank

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

IBHE

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

EIFAX

EIFAX Risk / Return Rank: 32
EIFAX Sharpe Ratio Rank: 24
EIFAX Sortino Ratio Rank: 45
EIFAX Omega Ratio Rank: 52
EIFAX Calmar Ratio Rank: 19
EIFAX Martin Ratio Rank: 19

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. 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 ratio: Return per unit of total volatility	—	1.05	—
Sortino ratio: Return per unit of downside risk	—	2.16	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	1.16	—
Martin ratio: Return relative to average drawdown	—	3.47	—

Drawdowns

Drawdown Indicators

	IBHE	EIFAX	Difference
Max Drawdown Largest peak-to-trough decline	—	-40.28%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.29%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.43%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-7.63%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.22%	—
Current Drawdown Current decline from peak	—	-0.07%	—
Average Drawdown Average peak-to-trough decline	—	-2.26%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.76%	—

Volatility

Volatility by Period

	IBHE	EIFAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.63%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.95%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	2.52%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	3.15%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.45%	—

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 7.54%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIFAX Eaton Vance Floating-Rate Advantage Fund	7.54%	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	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

Can I hold both IBHE and EIFAX in my portfolio?

IBHE and EIFAX 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.