IBHE vs. MHY
IBHE (iShares iBonds 2025 Term High Yield & Income ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. IBHE is passively managed, while MHY is actively managed. At a correlation of -0.10, they often move in opposite directions. IBHE charges 0.35%/yr vs 0.69%/yr for MHY.
Performance
IBHE vs. MHY - Performance Comparison
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Returns By Period
IBHE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 1.94%
- 3Y*
- 5.93%
- 5Y*
- 3.89%
- 10Y*
- —
MHY
- 1D
- 0.28%
- 1M
- 1.65%
- YTD
- 4.31%
- 6M
- 4.20%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBHE vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 0.00% | 0.99% |
MHY Man Active High Yield ETF | 4.31% | 1.54% |
Correlation
The correlation between IBHE and MHY is -0.10, 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 (All Time) Calculated using the full available price history since Sep 18, 2025 | -0.10 |
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Return for Risk
IBHE vs. MHY - 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 Man Active High Yield ETF (MHY). 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 | MHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 2.32 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 25.02 | — | — |
| Martin ratioReturn relative to average drawdown | 98.47 | — | — |
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Drawdowns
IBHE vs. MHY - Drawdown Comparison
The maximum IBHE drawdown since its inception was -26.91%, which is greater than MHY's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for IBHE and MHY.
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Drawdown Indicators
| IBHE | MHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.91% | -1.58% | -25.33% |
Max Drawdown (1Y)Largest decline over 1 year | -0.11% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -0.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -8.51% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -0.29% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | — | — |
Volatility
IBHE vs. MHY - Volatility Comparison
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Volatility by Period
| IBHE | MHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.38% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.74% | 2.99% | -2.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.87% | 2.99% | +1.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.52% | 2.99% | +8.53% |
IBHE vs. MHY - Expense Ratio Comparison
IBHE has a 0.35% expense ratio, which is lower than MHY's 0.69% expense ratio.
Dividends
IBHE vs. MHY - Dividend Comparison
IBHE has not paid dividends to shareholders, while MHY's dividend yield for the trailing twelve months is around 5.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
MHY Man Active High Yield ETF | 5.29% | 3.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBHE and MHY have a correlation of -0.10, 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 0.69% for MHY.
MHY has the higher dividend yield at 5.29%, compared with 2.29% for IBHE.
They also come from different issuers: iShares and Man Group. Their fees differ too: 0.35% for IBHE and 0.69% for MHY.
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