IBHH vs. VPLS

Last updated Jun 14, 2026

IBHH (iShares iBonds 2028 Term High Yield and Income ETF) and VPLS (Vanguard Core-Plus Bond ETF) are both exchange-traded funds - IBHH is a High Yield Bonds fund tracking the Bloomberg 2028 Term High Yield and Income Index - Benchmark TR Gross, while VPLS is a Intermediate Core-Plus Bond fund actively managed by Vanguard. IBHH is passively managed, while VPLS is actively managed. Over the past year, IBHH returned 6.37% vs 5.65% for VPLS. A 0.53 correlation means they provide meaningful diversification when combined. IBHH charges 0.35%/yr vs 0.20%/yr for VPLS.

Performance

IBHH vs. VPLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2028 Term High Yield and Income ETF (IBHH) and Vanguard Core-Plus Bond ETF (VPLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBHH achieves a 1.66% return, which is significantly higher than VPLS's 0.90% return.

IBHH

• 1D: 0.04%
• 1M: 0.46%
• YTD: 1.66%
• 6M: 2.29%
• 1Y: 6.37%
• 3Y*: 8.45%
• 5Y*: —
• 10Y*: —

VPLS

• 1D: 0.01%
• 1M: 1.11%
• YTD: 0.90%
• 6M: 1.35%
• 1Y: 5.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBHH vs. VPLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBHH iShares iBonds 2028 Term High Yield and Income ETF	1.66%	8.02%	7.53%	2.62%
VPLS Vanguard Core-Plus Bond ETF	0.90%	7.86%	2.72%	2.83%

Correlation

The correlation between IBHH and VPLS is 0.58, 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	0.58
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.53

The correlation between IBHH and VPLS has been stable across timeframes, ranging from 0.53 to 0.58 - a consistent structural relationship.

Return for Risk

IBHH vs. VPLS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBHH

IBHH Risk / Return Rank: 84
IBHH Sharpe Ratio Rank: 76
IBHH Sortino Ratio Rank: 83
IBHH Omega Ratio Rank: 79
IBHH Calmar Ratio Rank: 90
IBHH Martin Ratio Rank: 92

VPLS

VPLS Risk / Return Rank: 46
VPLS Sharpe Ratio Rank: 48
VPLS Sortino Ratio Rank: 50
VPLS Omega Ratio Rank: 46
VPLS Calmar Ratio Rank: 44
VPLS Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBHH vs. VPLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2028 Term High Yield and Income ETF (IBHH) and Vanguard Core-Plus Bond ETF (VPLS). 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.

	IBHH	VPLS	Difference
Sharpe ratio: Return per unit of total volatility	2.14	1.46	+0.68
Sortino ratio: Return per unit of downside risk	3.24	2.16	+1.07
Omega ratio: Gain probability vs. loss probability	1.41	1.26	+0.15
Calmar ratio: Return relative to maximum drawdown	4.96	1.94	+3.03
Martin ratio: Return relative to average drawdown	19.84	6.12	+13.72

IBHH vs. VPLS - Sharpe Ratio Comparison

The current IBHH Sharpe Ratio is 2.14, which is higher than the VPLS Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of IBHH and VPLS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBHH vs. VPLS - Drawdown Comparison

The maximum IBHH drawdown since its inception was -12.05%, which is greater than VPLS's maximum drawdown of -4.17%. Use the drawdown chart below to compare losses from any high point for IBHH and VPLS.

Drawdown Indicators

	IBHH	VPLS	Difference
Max Drawdown Largest peak-to-trough decline	-12.05%	-4.17%	-7.88%
Max Drawdown (1Y) Largest decline over 1 year	-1.22%	-2.72%	+1.50%
Max Drawdown (3Y) Largest decline over 3 years	-4.66%	—	—
Current Drawdown Current decline from peak	-0.15%	-0.95%	+0.80%
Average Drawdown Average peak-to-trough decline	-2.28%	-1.01%	-1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.31%	0.86%	-0.55%

Volatility

IBHH vs. VPLS - Volatility Comparison

The current volatility for iShares iBonds 2028 Term High Yield and Income ETF (IBHH) is 0.70%, while Vanguard Core-Plus Bond ETF (VPLS) has a volatility of 1.28%. This indicates that IBHH experiences smaller price fluctuations and is considered to be less risky than VPLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBHH	VPLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	1.28%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	2.10%	2.75%	-0.65%
Volatility (1Y) Calculated over the trailing 1-year period	2.84%	3.62%	-0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.23%	4.60%	+2.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.23%	4.60%	+2.63%

IBHH vs. VPLS - Expense Ratio Comparison

IBHH has a 0.35% expense ratio, which is higher than VPLS's 0.20% expense ratio.

Dividends

IBHH vs. VPLS - Dividend Comparison

IBHH's dividend yield for the trailing twelve months is around 6.27%, more than VPLS's 4.75% yield.

Position	TTM	2025	2024	2023	2022
IBHH iShares iBonds 2028 Term High Yield and Income ETF	6.27%	6.39%	6.93%	6.65%	5.36%
VPLS Vanguard Core-Plus Bond ETF	4.75%	4.78%	4.52%	0.18%	0.00%

Frequently Asked Questions

Can I hold both IBHH and VPLS in my portfolio?

IBHH and VPLS have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBHH or VPLS?

VPLS has higher volatility (1.28%) compared to IBHH (0.70%). In terms of maximum drawdown, IBHH dropped -12.05% vs VPLS's -4.17%.

Which ETF is better, IBHH or VPLS?

On 1-year performance, IBHH leads with 6.37% vs 5.65% for VPLS. On fees, VPLS is cheaper at 0.20% per year. On volatility, IBHH has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHH or VPLS?

Over the 1-year period, IBHH has performed better with a 6.37% return vs 5.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHH or VPLS?

VPLS is cheaper with a 0.20% expense ratio, compared with 0.35% for IBHH.

Which ETF pays a higher dividend yield, IBHH or VPLS?

IBHH has the higher dividend yield at 6.27%, compared with 4.75% for VPLS.

What is the main difference between IBHH and VPLS?

IBHH is categorized as High Yield Bonds, while VPLS is Intermediate Core-Plus Bond. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.35% for IBHH and 0.20% for VPLS.

Which has better risk-adjusted returns?

IBHH currently has the higher Sharpe Ratio (2.14 vs 1.46), 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.