IBHG vs. HYGH
IBHG (iShares iBonds 2027 Term High Yield and Income ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both High Yield Bonds funds from iShares. IBHG is passively managed, while HYGH is actively managed. Over the past 3 years, IBHG returned 7.53%/yr vs 9.83%/yr for HYGH. A 0.68 correlation means they provide meaningful diversification when combined. IBHG charges 0.35%/yr vs 0.53%/yr for HYGH.
Performance
IBHG vs. HYGH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBHG achieves a 1.10% return, which is significantly lower than HYGH's 2.94% return.
IBHG
- 1D
- 0.14%
- 1M
- 0.32%
- YTD
- 1.10%
- 6M
- 1.57%
- 1Y
- 4.71%
- 3Y*
- 7.53%
- 5Y*
- —
- 10Y*
- —
HYGH
- 1D
- 0.10%
- 1M
- 0.66%
- YTD
- 2.94%
- 6M
- 3.59%
- 1Y
- 7.78%
- 3Y*
- 9.83%
- 5Y*
- 6.97%
- 10Y*
- 6.31%
IBHG vs. HYGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 1.10% | 6.90% | 7.42% | 11.27% | -8.88% | 1.07% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 2.94% | 6.94% | 11.22% | 12.17% | -0.92% | 2.06% |
Correlation
The correlation between IBHG and HYGH is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2021 | 0.68 |
The correlation between IBHG and HYGH shifts across timeframes, from 0.48 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBHG vs. HYGH — Risk / Return Rank
IBHG
HYGH
IBHG vs. HYGH - 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 Interest Rate Hedged High Yield Bond ETF (HYGH). 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 | HYGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.40 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 6.51 | 4.82 | +1.69 |
| Martin ratioReturn relative to average drawdown | 23.87 | 18.86 | +5.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IBHG | HYGH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 2.14 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.99 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.56 | +0.01 |
Drawdowns
IBHG vs. HYGH - Drawdown Comparison
The maximum IBHG drawdown since its inception was -13.85%, smaller than the maximum HYGH drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for IBHG and HYGH.
Loading charts...
Drawdown Indicators
| IBHG | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.85% | -23.88% | +10.03% |
Max Drawdown (1Y)Largest decline over 1 year | -0.73% | -1.62% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -3.39% | -8.06% | +4.67% |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.88% | — |
Current DrawdownCurrent decline from peak | -0.09% | -0.13% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -2.23% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 0.41% | -0.21% |
Volatility
IBHG vs. HYGH - Volatility Comparison
iShares iBonds 2027 Term High Yield and Income ETF (IBHG) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH) have volatilities of 0.59% and 0.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IBHG | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.61% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.53% | 2.84% | -1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.11% | 3.65% | -1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.36% | 7.07% | -0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.36% | 8.35% | -1.99% |
IBHG vs. HYGH - Expense Ratio Comparison
IBHG has a 0.35% expense ratio, which is lower than HYGH's 0.53% expense ratio.
Dividends
IBHG vs. HYGH - Dividend Comparison
IBHG's dividend yield for the trailing twelve months is around 6.07%, less than HYGH's 6.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.62% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 6.07% | 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 HYGH have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYGH has higher volatility (0.61%) compared to IBHG (0.59%). In terms of maximum drawdown, IBHG dropped -13.85% vs HYGH's -23.88%.
On 3-year performance, HYGH leads with 9.83% vs 7.53% for IBHG. On fees, IBHG is cheaper at 0.35% per year. 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, HYGH has performed better with a 9.83% return vs 7.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHG is cheaper with a 0.35% expense ratio, compared with 0.53% for HYGH.
HYGH has the higher dividend yield at 6.62%, compared with 6.07% for IBHG.
Their fees differ too: 0.35% for IBHG and 0.53% for HYGH.
IBHG currently has the higher Sharpe Ratio (2.24 vs 2.14), 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.
Find the right allocation for IBHG and HYGH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer