IBHG vs. ACWI
IBHG (iShares iBonds 2027 Term High Yield and Income ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - IBHG is a High Yield Bonds fund tracking the Bloomberg 2027 Term High Yield and Income Index - Benchmark TR Gross, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 3 years, IBHG returned 7.37%/yr vs 21.15%/yr for ACWI. A 0.64 correlation means they provide meaningful diversification when combined. IBHG charges 0.35%/yr vs 0.32%/yr for ACWI.
Performance
IBHG vs. ACWI - Performance Comparison
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Returns By Period
In the year-to-date period, IBHG achieves a 0.96% return, which is significantly lower than ACWI's 12.13% return.
IBHG
- 1D
- -0.09%
- 1M
- 0.21%
- YTD
- 0.96%
- 6M
- 1.46%
- 1Y
- 4.61%
- 3Y*
- 7.37%
- 5Y*
- —
- 10Y*
- —
ACWI
- 1D
- -0.83%
- 1M
- 5.28%
- YTD
- 12.13%
- 6M
- 12.96%
- 1Y
- 29.18%
- 3Y*
- 21.15%
- 5Y*
- 11.28%
- 10Y*
- 12.85%
IBHG vs. ACWI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 0.96% | 6.90% | 7.42% | 11.27% | -8.88% | 1.07% |
ACWI iShares MSCI ACWI ETF | 12.13% | 22.41% | 17.45% | 22.27% | -18.39% | 4.70% |
Correlation
The correlation between IBHG and ACWI is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2021 | 0.64 |
The correlation between IBHG and ACWI shifts across timeframes, from 0.51 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBHG vs. ACWI — Risk / Return Rank
IBHG
ACWI
IBHG vs. ACWI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2027 Term High Yield and Income ETF (IBHG) and iShares MSCI ACWI ETF (ACWI). 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.
| IBHG | ACWI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.41 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 6.38 | 3.01 | +3.36 |
| Martin ratioReturn relative to average drawdown | 23.30 | 13.53 | +9.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBHG | ACWI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 2.29 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.71 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.75 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.43 | +0.14 |
Drawdowns
IBHG vs. ACWI - Drawdown Comparison
The maximum IBHG drawdown since its inception was -13.85%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for IBHG and ACWI.
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Drawdown Indicators
| IBHG | ACWI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.85% | -56.00% | +42.15% |
Max Drawdown (1Y)Largest decline over 1 year | -0.73% | -9.73% | +9.00% |
Max Drawdown (3Y)Largest decline over 3 years | -3.39% | -16.55% | +13.16% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.53% | — |
Current DrawdownCurrent decline from peak | -0.22% | -0.83% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -8.61% | +5.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 2.16% | -1.96% |
Volatility
IBHG vs. ACWI - Volatility Comparison
The current volatility for iShares iBonds 2027 Term High Yield and Income ETF (IBHG) is 0.58%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 3.93%. This indicates that IBHG experiences smaller price fluctuations and is considered to be less risky than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBHG | ACWI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 3.93% | -3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 1.53% | 10.29% | -8.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.11% | 12.78% | -10.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.37% | 16.05% | -9.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.37% | 17.11% | -10.74% |
IBHG vs. ACWI - Expense Ratio Comparison
IBHG has a 0.35% expense ratio, which is higher than ACWI's 0.32% expense ratio.
Dividends
IBHG vs. ACWI - Dividend Comparison
IBHG's dividend yield for the trailing twelve months is around 6.08%, more than ACWI's 1.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 1.38% | 1.55% | 1.70% | 1.88% | 1.79% | 1.71% | 1.43% | 2.33% | 2.18% | 1.94% | 2.19% | 2.56% |
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 6.08% | 6.33% | 7.02% | 6.66% | 5.62% | 2.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBHG and ACWI have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACWI has higher volatility (3.93%) compared to IBHG (0.58%). In terms of maximum drawdown, IBHG dropped -13.85% vs ACWI's -56.00%.
On 3-year performance, ACWI leads with 21.15% vs 7.37% for IBHG. On fees, ACWI is cheaper at 0.32% per year. On volatility, IBHG has been the lower-risk option at 0.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ACWI has performed better with a 21.15% return vs 7.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ACWI is cheaper with a 0.32% expense ratio, compared with 0.35% for IBHG.
IBHG has the higher dividend yield at 6.08%, compared with 1.38% for ACWI.
IBHG is categorized as High Yield Bonds, while ACWI is Global Equities. IBHG tracks Bloomberg 2027 Term High Yield and Income Index - Benchmark TR Gross, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.35% for IBHG and 0.32% for ACWI.
ACWI currently has the higher Sharpe Ratio (2.29 vs 2.20), 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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