IBHF vs. IBTJ
IBHF (iShares iBonds 2026 Term High Yield and Income ETF) and IBTJ (iShares iBonds Dec 2029 Term Treasury ETF) are both exchange-traded funds - IBHF is a Corporate Bonds fund actively managed by iShares, while IBTJ is a Government Bonds fund tracking the ICE 2029 Maturity US Treasury Index. IBHF is actively managed, while IBTJ is passively managed. Over the past 5 years, IBHF returned 3.98%/yr vs -0.10%/yr for IBTJ. At a 0.29 correlation, their price movements are largely independent. IBHF charges 0.35%/yr vs 0.07%/yr for IBTJ.
Performance
IBHF vs. IBTJ - Performance Comparison
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Returns By Period
In the year-to-date period, IBHF achieves a 0.54% return, which is significantly higher than IBTJ's -0.19% return.
IBHF
- 1D
- -0.09%
- 1M
- -0.14%
- YTD
- 0.54%
- 6M
- 0.71%
- 1Y
- 4.22%
- 3Y*
- 7.36%
- 5Y*
- 3.98%
- 10Y*
- —
IBTJ
- 1D
- -0.14%
- 1M
- 0.04%
- YTD
- -0.19%
- 6M
- -0.06%
- 1Y
- 2.85%
- 3Y*
- 3.61%
- 5Y*
- -0.10%
- 10Y*
- —
IBHF vs. IBTJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBHF iShares iBonds 2026 Term High Yield and Income ETF | 0.54% | 6.60% | 8.55% | 10.40% | -6.66% | 4.43% | 2.60% |
IBTJ iShares iBonds Dec 2029 Term Treasury ETF | -0.19% | 6.89% | 1.82% | 4.49% | -12.45% | -3.57% | 0.55% |
Correlation
The correlation between IBHF and IBTJ is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2020 | 0.29 |
The correlation between IBHF and IBTJ shifts across timeframes, from 0.29 (all time) to 0.40 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBHF vs. IBTJ — Risk / Return Rank
IBHF
IBTJ
IBHF vs. IBTJ - 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 Dec 2029 Term Treasury ETF (IBTJ). 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 | IBTJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.21 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 5.62 | 1.77 | +3.85 |
| Martin ratioReturn relative to average drawdown | 18.04 | 4.64 | +13.40 |
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Drawdowns
IBHF vs. IBTJ - Drawdown Comparison
The maximum IBHF drawdown since its inception was -11.19%, smaller than the maximum IBTJ drawdown of -20.19%. Use the drawdown chart below to compare losses from any high point for IBHF and IBTJ.
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Drawdown Indicators
| IBHF | IBTJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.19% | -20.19% | +9.00% |
Max Drawdown (1Y)Largest decline over 1 year | -0.75% | -1.62% | +0.87% |
Max Drawdown (3Y)Largest decline over 3 years | -2.53% | -4.43% | +1.90% |
Max Drawdown (5Y)Largest decline over 5 years | -11.19% | -17.21% | +6.02% |
Current DrawdownCurrent decline from peak | -0.45% | -6.39% | +5.94% |
Average DrawdownAverage peak-to-trough decline | -1.79% | -9.70% | +7.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 0.62% | -0.39% |
Volatility
IBHF vs. IBTJ - Volatility Comparison
The current volatility for iShares iBonds 2026 Term High Yield and Income ETF (IBHF) is 0.47%, while iShares iBonds Dec 2029 Term Treasury ETF (IBTJ) has a volatility of 0.71%. This indicates that IBHF experiences smaller price fluctuations and is considered to be less risky than IBTJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBHF | IBTJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 0.71% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 1.22% | 1.64% | -0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.91% | 2.40% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.79% | 5.72% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.64% | 5.98% | -0.34% |
IBHF vs. IBTJ - Expense Ratio Comparison
IBHF has a 0.35% expense ratio, which is higher than IBTJ's 0.07% expense ratio.
Dividends
IBHF vs. IBTJ - Dividend Comparison
IBHF's dividend yield for the trailing twelve months is around 6.53%, more than IBTJ's 3.81% 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% |
IBTJ iShares iBonds Dec 2029 Term Treasury ETF | 3.81% | 3.78% | 3.95% | 3.48% | 1.86% | 0.74% | 0.61% |
Frequently Asked Questions
IBHF and IBTJ have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBTJ has higher volatility (0.71%) compared to IBHF (0.47%). In terms of maximum drawdown, IBHF dropped -11.19% vs IBTJ's -20.19%.
On 5-year performance, IBHF leads with 3.98% vs -0.10% for IBTJ. On fees, IBTJ is cheaper at 0.07% per year. On volatility, IBHF has been the lower-risk option at 0.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBHF has performed better with a 3.98% return vs -0.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTJ is cheaper with a 0.07% expense ratio, compared with 0.35% for IBHF.
IBHF has the higher dividend yield at 6.53%, compared with 3.81% for IBTJ.
IBHF is categorized as Corporate Bonds, while IBTJ is Government Bonds. Their fees differ too: 0.35% for IBHF and 0.07% for IBTJ.
IBHF currently has the higher Sharpe Ratio (2.22 vs 1.20), 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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