IBHF vs. IBHG
IBHF (iShares iBonds 2026 Term High Yield and Income ETF) and IBHG (iShares iBonds 2027 Term High Yield and Income ETF) are both exchange-traded funds - IBHF is a Corporate Bonds fund actively managed by iShares, while IBHG is a High Yield Bonds fund tracking the Bloomberg 2027 Term High Yield and Income Index - Benchmark TR Gross. IBHF is actively managed, while IBHG is passively managed. Over the past 3 years, IBHF returned 7.36%/yr vs 7.63%/yr for IBHG. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.
Performance
IBHF vs. IBHG - Performance Comparison
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Returns By Period
In the year-to-date period, IBHF achieves a 0.54% return, which is significantly lower than IBHG's 1.17% return.
IBHF
- 1D
- -0.09%
- 1M
- -0.14%
- YTD
- 0.54%
- 6M
- 0.71%
- 1Y
- 4.22%
- 3Y*
- 7.36%
- 5Y*
- 3.98%
- 10Y*
- —
IBHG
- 1D
- 0.00%
- 1M
- 0.03%
- YTD
- 1.17%
- 6M
- 1.43%
- 1Y
- 4.55%
- 3Y*
- 7.63%
- 5Y*
- —
- 10Y*
- —
IBHF vs. IBHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBHF iShares iBonds 2026 Term High Yield and Income ETF | 0.54% | 6.60% | 8.55% | 10.40% | -6.66% | 1.27% |
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 1.17% | 6.90% | 7.42% | 11.27% | -8.88% | 0.93% |
Correlation
The correlation between IBHF and IBHG is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2021 | 0.74 |
Over the past year, the correlation between IBHF and IBHG has dropped to 0.43 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.
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Return for Risk
IBHF vs. IBHG — Risk / Return Rank
IBHF
IBHG
IBHF vs. IBHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2026 Term High Yield and Income ETF (IBHF) and iShares iBonds 2027 Term High Yield and Income ETF (IBHG). 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.
| IBHF | IBHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.42 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 5.62 | 6.29 | -0.68 |
| Martin ratioReturn relative to average drawdown | 18.04 | 22.89 | -4.85 |
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Drawdowns
IBHF vs. IBHG - Drawdown Comparison
The maximum IBHF drawdown since its inception was -11.19%, smaller than the maximum IBHG drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for IBHF and IBHG.
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Drawdown Indicators
| IBHF | IBHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.19% | -13.85% | +2.66% |
Max Drawdown (1Y)Largest decline over 1 year | -0.75% | -0.73% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -2.53% | -3.39% | +0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -11.19% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | -0.02% | -0.43% |
Average DrawdownAverage peak-to-trough decline | -1.79% | -2.64% | +0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 0.20% | +0.03% |
Volatility
IBHF vs. IBHG - Volatility Comparison
iShares iBonds 2026 Term High Yield and Income ETF (IBHF) has a higher volatility of 0.47% compared to iShares iBonds 2027 Term High Yield and Income ETF (IBHG) at 0.44%. This indicates that IBHF's price experiences larger fluctuations and is considered to be riskier than IBHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBHF | IBHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 0.44% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.22% | 1.52% | -0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.91% | 2.09% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.79% | 6.33% | -0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.64% | 6.33% | -0.69% |
IBHF vs. IBHG - Expense Ratio Comparison
Both IBHF and IBHG have an expense ratio of 0.35%.
Dividends
IBHF vs. IBHG - Dividend Comparison
IBHF's dividend yield for the trailing twelve months is around 6.53%, more than IBHG's 6.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IBHF iShares iBonds 2026 Term High Yield and Income ETF | 6.53% | 6.73% | 7.17% | 7.33% | 6.01% | 4.55% | 0.61% |
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 6.07% | 6.33% | 7.02% | 6.66% | 5.62% | 2.13% | 0.00% |
Frequently Asked Questions
IBHF and IBHG have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBHF has higher volatility (0.47%) compared to IBHG (0.44%). In terms of maximum drawdown, IBHF dropped -11.19% vs IBHG's -13.85%.
On 3-year performance, IBHG leads with 7.63% vs 7.36% for IBHF. Both ETFs have the same 0.35% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IBHG has performed better with a 7.63% return vs 7.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHF and IBHG have the same expense ratio: 0.35% per year.
IBHF has the higher dividend yield at 6.53%, compared with 6.07% for IBHG.
IBHF is categorized as Corporate Bonds, while IBHG is High Yield Bonds.
IBHF currently has the higher Sharpe Ratio (2.22 vs 2.19), 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.
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