IBHE vs. NHYB
IBHE (iShares iBonds 2025 Term High Yield & Income ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds - IBHE tracks the Bloomberg 2025 Term High Yield and Income Index while NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index. Both are passively managed. At a correlation of -0.09, they often move in opposite directions. IBHE charges 0.35%/yr vs 0.08%/yr for NHYB.
Performance
IBHE vs. NHYB - Performance Comparison
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Returns By Period
IBHE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 2.00%
- 3Y*
- 5.93%
- 5Y*
- 3.89%
- 10Y*
- —
NHYB
- 1D
- 0.02%
- 1M
- 0.54%
- YTD
- 1.93%
- 6M
- 1.85%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBHE vs. NHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 0.00% | 0.95% |
NHYB Nuveen High Yield Corporate Bond ETF | 1.93% | 1.24% |
Correlation
The correlation between IBHE and NHYB is -0.09, 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 24, 2025 | -0.09 |
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Return for Risk
IBHE vs. NHYB - 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 Nuveen High Yield Corporate Bond ETF (NHYB). 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 | NHYB | 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. NHYB - Drawdown Comparison
The maximum IBHE drawdown since its inception was -26.91%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for IBHE and NHYB.
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Drawdown Indicators
| IBHE | NHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.91% | -2.40% | -24.51% |
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% | -0.18% | +0.18% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -0.36% | -1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | — | — |
Volatility
IBHE vs. NHYB - Volatility Comparison
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Volatility by Period
| IBHE | NHYB | 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% | 3.63% | -2.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.87% | 3.63% | +1.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.52% | 3.63% | +7.89% |
IBHE vs. NHYB - Expense Ratio Comparison
IBHE has a 0.35% expense ratio, which is higher than NHYB's 0.08% expense ratio.
Dividends
IBHE vs. NHYB - Dividend Comparison
IBHE has not paid dividends to shareholders, while NHYB's dividend yield for the trailing twelve months is around 4.24%.
| 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% |
NHYB Nuveen High Yield Corporate Bond ETF | 4.24% | 1.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBHE and NHYB have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NHYB is cheaper with a 0.08% expense ratio, compared with 0.35% for IBHE.
NHYB has the higher dividend yield at 4.24%, compared with 2.29% for IBHE.
IBHE tracks Bloomberg 2025 Term High Yield and Income Index, while NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index. They also come from different issuers: iShares and Nuveen. Their fees differ too: 0.35% for IBHE and 0.08% for NHYB.
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