IBHG vs. IBHF
IBHG (iShares iBonds 2027 Term High Yield and Income ETF) and IBHF (iShares iBonds 2026 Term High Yield and Income 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 IBHF is a Corporate Bonds fund actively managed by iShares. IBHG is passively managed, while IBHF is actively managed. Over the past 3 years, IBHG returned 7.63%/yr vs 7.36%/yr for IBHF. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.
Performance
IBHG vs. IBHF - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBHG achieves a 1.17% return, which is significantly higher than IBHF's 0.54% return.
IBHG
- 1D
- 0.00%
- 1M
- 0.03%
- YTD
- 1.17%
- 6M
- 1.43%
- 1Y
- 4.55%
- 3Y*
- 7.63%
- 5Y*
- —
- 10Y*
- —
IBHF
- 1D
- -0.09%
- 1M
- -0.14%
- YTD
- 0.54%
- 6M
- 0.71%
- 1Y
- 4.22%
- 3Y*
- 7.36%
- 5Y*
- 3.98%
- 10Y*
- —
IBHG vs. IBHF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 1.17% | 6.90% | 7.42% | 11.27% | -8.88% | 0.93% |
IBHF iShares iBonds 2026 Term High Yield and Income ETF | 0.54% | 6.60% | 8.55% | 10.40% | -6.66% | 1.27% |
Correlation
The correlation between IBHG and IBHF 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 IBHG and IBHF has dropped to 0.43 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.
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. IBHF — Risk / Return Rank
IBHG
IBHF
IBHG vs. IBHF - 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 iBonds 2026 Term High Yield and Income ETF (IBHF). 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.
| IBHG | IBHF | 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 | 1.42 | 1.47 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 6.29 | 5.62 | +0.68 |
| Martin ratioReturn relative to average drawdown | 22.89 | 18.04 | +4.85 |
Loading charts...
Drawdowns
IBHG vs. IBHF - Drawdown Comparison
The maximum IBHG drawdown since its inception was -13.85%, which is greater than IBHF's maximum drawdown of -11.19%. Use the drawdown chart below to compare losses from any high point for IBHG and IBHF.
Loading charts...
Drawdown Indicators
| IBHG | IBHF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.85% | -11.19% | -2.66% |
Max Drawdown (1Y)Largest decline over 1 year | -0.73% | -0.75% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -3.39% | -2.53% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.19% | — |
Current DrawdownCurrent decline from peak | -0.02% | -0.45% | +0.43% |
Average DrawdownAverage peak-to-trough decline | -2.64% | -1.79% | -0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 0.23% | -0.03% |
Volatility
IBHG vs. IBHF - Volatility Comparison
The current volatility for iShares iBonds 2027 Term High Yield and Income ETF (IBHG) is 0.44%, while iShares iBonds 2026 Term High Yield and Income ETF (IBHF) has a volatility of 0.47%. This indicates that IBHG experiences smaller price fluctuations and is considered to be less risky than IBHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IBHG | IBHF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.44% | 0.47% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.52% | 1.22% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.09% | 1.91% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 5.79% | +0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.33% | 5.64% | +0.69% |
IBHG vs. IBHF - Expense Ratio Comparison
Both IBHG and IBHF have an expense ratio of 0.35%.
Dividends
IBHG vs. IBHF - Dividend Comparison
IBHG's dividend yield for the trailing twelve months is around 6.07%, less than IBHF's 6.53% 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
IBHG and IBHF 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, IBHG dropped -13.85% vs IBHF's -11.19%.
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.
IBHG and IBHF have the same expense ratio: 0.35% per year.
IBHF has the higher dividend yield at 6.53%, compared with 6.07% for IBHG.
IBHG is categorized as High Yield Bonds, while IBHF is Corporate 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.
Find the right allocation for IBHG and IBHF
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