IBHE vs. HYGH
IBHE (iShares iBonds 2025 Term High Yield & Income ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both High Yield Bonds funds from iShares - IBHE tracks the Bloomberg 2025 Term High Yield and Income Index while HYGH tracks the Markit iBoxx USD Liquid High Yield Interest Hedged Index. Both are passively managed. A 0.66 correlation means they provide meaningful diversification when combined. IBHE charges 0.35%/yr vs 0.52%/yr for HYGH.
Performance
IBHE vs. HYGH - Performance Comparison
Loading charts...
Returns By Period
IBHE
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYGH
- 1D
- 0.02%
- 1M
- 0.56%
- 6M
- 2.95%
- YTD
- 3.69%
- 1Y
- 7.35%
- 3Y*
- 9.25%
- 5Y*
- 7.04%
- 10Y*
- 6.16%
IBHE vs. HYGH - 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% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 3.69% | 6.94% | 11.22% | 12.17% | -0.92% | 5.82% | 0.54% | 3.59% |
Correlation
The correlation between IBHE and HYGH 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 | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since May 9, 2019 | 0.66 |
The correlation between IBHE and HYGH shifts across timeframes, from -0.03 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBHE vs. HYGH — Risk / Return Rank
IBHE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYGH
IBHE vs. HYGH - 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 Interest Rate Hedged High Yield Bond ETF (HYGH). 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 | HYGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.39 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.56 | — |
| Martin ratioReturn relative to average drawdown | — | 17.85 | — |
Loading charts...
Drawdowns
IBHE vs. HYGH - Drawdown Comparison
Loading charts...
Drawdown Indicators
| IBHE | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -23.88% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.62% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.88% | — |
Current DrawdownCurrent decline from peak | — | 0.00% | — |
Average DrawdownAverage peak-to-trough decline | — | -2.21% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.41% | — |
Volatility
IBHE vs. HYGH - Volatility Comparison
Loading charts...
Volatility by Period
| IBHE | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.55% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.74% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 3.63% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 7.07% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 8.21% | — |
IBHE vs. HYGH - Expense Ratio Comparison
IBHE has a 0.35% expense ratio, which is lower than HYGH's 0.52% expense ratio.
Dividends
IBHE vs. HYGH - Dividend Comparison
IBHE has not paid dividends to shareholders, while HYGH's dividend yield for the trailing twelve months is around 6.56%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.56% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
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 HYGH 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.
On fees, IBHE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBHE is cheaper with a 0.35% expense ratio, compared with 0.52% for HYGH.
HYGH has the higher dividend yield at 6.56%, compared with 1.87% for IBHE.
IBHE tracks Bloomberg 2025 Term High Yield and Income Index, while HYGH tracks Markit iBoxx USD Liquid High Yield Interest Hedged Index. Their fees differ too: 0.35% for IBHE and 0.52% for HYGH.
Find the right allocation for IBHE and HYGH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer