IBHG vs. IVV
IBHG (iShares iBonds 2027 Term High Yield and Income ETF) and IVV (iShares Core S&P 500 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 IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, IBHG returned 7.37%/yr vs 22.43%/yr for IVV. A 0.61 correlation means they provide meaningful diversification when combined. IBHG charges 0.35%/yr vs 0.03%/yr for IVV.
Performance
IBHG vs. IVV - 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 IVV's 10.85% return.
IBHG
- 1D
- -0.09%
- 1M
- 0.21%
- YTD
- 0.96%
- 6M
- 1.46%
- 1Y
- 4.61%
- 3Y*
- 7.37%
- 5Y*
- —
- 10Y*
- —
IVV
- 1D
- -0.76%
- 1M
- 4.97%
- YTD
- 10.85%
- 6M
- 10.87%
- 1Y
- 28.00%
- 3Y*
- 22.43%
- 5Y*
- 13.88%
- 10Y*
- 15.54%
IBHG vs. IVV - 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% |
IVV iShares Core S&P 500 ETF | 10.85% | 17.85% | 24.93% | 26.31% | -18.16% | 9.81% |
Correlation
The correlation between IBHG and IVV is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2021 | 0.61 |
The correlation between IBHG and IVV has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.
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Return for Risk
IBHG vs. IVV — Risk / Return Rank
IBHG
IVV
IBHG vs. IVV - 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 Core S&P 500 ETF (IVV). 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 | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.43 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 6.38 | 3.17 | +3.21 |
| Martin ratioReturn relative to average drawdown | 23.30 | 14.71 | +8.59 |
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 | IVV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 2.39 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.83 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.45 | +0.11 |
Drawdowns
IBHG vs. IVV - Drawdown Comparison
The maximum IBHG drawdown since its inception was -13.85%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for IBHG and IVV.
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Drawdown Indicators
| IBHG | IVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.85% | -55.25% | +41.40% |
Max Drawdown (1Y)Largest decline over 1 year | -0.73% | -8.89% | +8.16% |
Max Drawdown (3Y)Largest decline over 3 years | -3.39% | -18.75% | +15.36% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.53% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.90% | — |
Current DrawdownCurrent decline from peak | -0.22% | -0.76% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -10.78% | +8.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 1.91% | -1.71% |
Volatility
IBHG vs. IVV - Volatility Comparison
The current volatility for iShares iBonds 2027 Term High Yield and Income ETF (IBHG) is 0.58%, while iShares Core S&P 500 ETF (IVV) has a volatility of 2.87%. This indicates that IBHG experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBHG | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 2.87% | -2.29% |
Volatility (6M)Calculated over the trailing 6-month period | 1.53% | 8.90% | -7.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.11% | 11.80% | -9.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.37% | 16.88% | -10.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.37% | 18.05% | -11.68% |
IBHG vs. IVV - Expense Ratio Comparison
IBHG has a 0.35% expense ratio, which is higher than IVV's 0.03% expense ratio.
Dividends
IBHG vs. IVV - Dividend Comparison
IBHG's dividend yield for the trailing twelve months is around 6.08%, more than IVV's 1.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IVV iShares Core S&P 500 ETF | 1.06% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
Frequently Asked Questions
IBHG and IVV have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVV has higher volatility (2.87%) compared to IBHG (0.58%). In terms of maximum drawdown, IBHG dropped -13.85% vs IVV's -55.25%.
On 3-year performance, IVV leads with 22.43% vs 7.37% for IBHG. On fees, IVV is cheaper at 0.03% 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, IVV has performed better with a 22.43% return vs 7.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVV is cheaper with a 0.03% expense ratio, compared with 0.35% for IBHG.
IBHG has the higher dividend yield at 6.08%, compared with 1.06% for IVV.
IBHG is categorized as High Yield Bonds, while IVV is S&P 500. IBHG tracks Bloomberg 2027 Term High Yield and Income Index - Benchmark TR Gross, while IVV tracks S&P 500 Index. Their fees differ too: 0.35% for IBHG and 0.03% for IVV.
IVV currently has the higher Sharpe Ratio (2.39 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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