IBHE vs. XHYE

Last updated Jun 5, 2026

IBHE (iShares iBonds 2025 Term High Yield & Income ETF) and XHYE (BondBloxx US High Yield Energy Sector ETF) are both High Yield Bonds funds - IBHE tracks the Bloomberg 2025 Term High Yield and Income Index while XHYE tracks the ICE Diversified US Cash Pay High Yield Energy Index. Both are passively managed. Over the past 3 years, IBHE returned 5.99%/yr vs 8.50%/yr for XHYE. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

IBHE vs. XHYE - 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 BondBloxx US High Yield Energy Sector ETF (XHYE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBHE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.13%
• 1Y: 2.05%
• 3Y*: 5.99%
• 5Y*: 3.89%
• 10Y*: —

XHYE

• 1D: 0.00%
• 1M: -0.19%
• YTD: 3.57%
• 6M: 3.82%
• 1Y: 8.97%
• 3Y*: 8.50%
• 5Y*: —
• 10Y*: —

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

IBHE vs. XHYE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IBHE iShares iBonds 2025 Term High Yield & Income ETF	0.00%	4.45%	7.62%	10.32%	-2.15%
XHYE BondBloxx US High Yield Energy Sector ETF	3.57%	6.73%	7.46%	11.49%	-1.77%

Correlation

The correlation between IBHE and XHYE 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	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022	0.65

Over the past year, the correlation between IBHE and XHYE has dropped to 0.01 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

IBHE vs. XHYE - Sectors Allocation Comparison

Sectors	IBHE	XHYE
Real Estate	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	49.2%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	0.3%
Utilities	-	-

Return for Risk

IBHE vs. XHYE — Risk / Return Rank

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

IBHE

IBHE Risk / Return Rank: 97
IBHE Sharpe Ratio Rank: 92
IBHE Sortino Ratio Rank: 96
IBHE Omega Ratio Rank: 98
IBHE Calmar Ratio Rank: 99
IBHE Martin Ratio Rank: 99

XHYE

XHYE Risk / Return Rank: 94
XHYE Sharpe Ratio Rank: 91
XHYE Sortino Ratio Rank: 95
XHYE Omega Ratio Rank: 94
XHYE Calmar Ratio Rank: 95
XHYE Martin Ratio Rank: 94

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. XHYE - 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 BondBloxx US High Yield Energy Sector ETF (XHYE). 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.

	IBHE	XHYE	Difference
Sharpe ratio: Return per unit of total volatility	3.31	3.18	+0.14
Sortino ratio: Return per unit of downside risk	5.62	5.13	+0.49
Omega ratio: Gain probability vs. loss probability	2.06	1.69	+0.37
Calmar ratio: Return relative to maximum drawdown	22.58	8.50	+14.09
Martin ratio: Return relative to average drawdown	88.89	26.98	+61.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBHE vs. XHYE - Sharpe Ratio Comparison

The current IBHE Sharpe Ratio is 3.31, which is comparable to the XHYE Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of IBHE and XHYE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBHE	XHYE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.31	3.18	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.84	-0.43

Drawdowns

IBHE vs. XHYE - Drawdown Comparison

The maximum IBHE drawdown since its inception was -26.91%, which is greater than XHYE's maximum drawdown of -8.87%. Use the drawdown chart below to compare losses from any high point for IBHE and XHYE.

Drawdown Indicators

	IBHE	XHYE	Difference
Max Drawdown Largest peak-to-trough decline	-26.91%	-8.87%	-18.04%
Max Drawdown (1Y) Largest decline over 1 year	-0.11%	-1.21%	+1.10%
Max Drawdown (3Y) Largest decline over 3 years	-0.94%	-6.40%	+5.46%
Max Drawdown (5Y) Largest decline over 5 years	-8.51%	—	—
Current Drawdown Current decline from peak	0.00%	-0.36%	+0.36%
Average Drawdown Average peak-to-trough decline	-1.42%	-1.42%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.05%	0.38%	-0.33%

Volatility

IBHE vs. XHYE - Volatility Comparison

The current volatility for iShares iBonds 2025 Term High Yield & Income ETF (IBHE) is 0.00%, while BondBloxx US High Yield Energy Sector ETF (XHYE) has a volatility of 0.56%. This indicates that IBHE experiences smaller price fluctuations and is considered to be less risky than XHYE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBHE	XHYE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	0.56%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	0.39%	1.98%	-1.59%
Volatility (1Y) Calculated over the trailing 1-year period	0.78%	3.24%	-2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.87%	7.60%	-2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.52%	7.60%	+3.92%

IBHE vs. XHYE - Expense Ratio Comparison

Both IBHE and XHYE have an expense ratio of 0.35%.

Dividends

IBHE vs. XHYE - Dividend Comparison

IBHE's dividend yield for the trailing twelve months is around 2.29%, less than XHYE's 5.79% yield.

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%
XHYE BondBloxx US High Yield Energy Sector ETF	5.79%	6.55%	7.04%	6.46%	5.46%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBHE and XHYE in my portfolio?

IBHE and XHYE 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.

Which is riskier, IBHE or XHYE?

XHYE has higher volatility (0.56%) compared to IBHE (0.00%). In terms of maximum drawdown, IBHE dropped -26.91% vs XHYE's -8.87%.

Which ETF is better, IBHE or XHYE?

On 3-year performance, XHYE leads with 8.50% vs 5.99% for IBHE. Both ETFs have the same 0.35% expense ratio. On volatility, IBHE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHE or XHYE?

Over the 3-year period, XHYE has performed better with a 8.50% return vs 5.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHE or XHYE?

IBHE and XHYE have the same expense ratio: 0.35% per year.

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

XHYE has the higher dividend yield at 5.79%, compared with 2.29% for IBHE.

What is the main difference between IBHE and XHYE?

IBHE tracks Bloomberg 2025 Term High Yield and Income Index, while XHYE tracks ICE Diversified US Cash Pay High Yield Energy Index. They also come from different issuers: iShares and BondBloxx.

Which has better risk-adjusted returns?

IBHE currently has the higher Sharpe Ratio (3.31 vs 3.18), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.