IBHE vs. MHY

Last updated Jul 17, 2026

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

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

Returns By Period

IBHE

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

MHY

• 1D: 0.18%
• 1M: 1.72%
• 6M: 4.79%
• YTD: 5.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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	5.53%	1.54%

Correlation

The correlation between IBHE and MHY is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025	-0.10

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.

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

Drawdowns

Drawdown Indicators

	IBHE	MHY	Difference
Max Drawdown Largest peak-to-trough decline	—	-1.58%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.27%	—

Volatility

Volatility by Period

	IBHE	MHY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	2.94%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	2.94%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	2.94%	—

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 5.23%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
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%
MHY Man Active High Yield ETF	5.23%	3.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBHE and MHY in my portfolio?

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.

Which ETF is better, IBHE or MHY?

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.

Which ETF is cheaper, IBHE or MHY?

IBHE is cheaper with a 0.35% expense ratio, compared with 0.69% for MHY.

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

MHY has the higher dividend yield at 5.23%, compared with 1.87% for IBHE.

What is the main difference between IBHE and MHY?

They also come from different issuers: iShares and Man Group. Their fees differ too: 0.35% for IBHE and 0.69% for MHY.