IBHI vs. AVIV

Last updated Jun 14, 2026

IBHI (iShares iBonds 2029 Term High Yield and Income ETF) and AVIV (Avantis International Large Cap Value ETF) are both exchange-traded funds - IBHI is a High Yield Bonds fund tracking the Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross, while AVIV is a Foreign Large Cap Equities fund actively managed by Avantis. IBHI is passively managed, while AVIV is actively managed. Over the past 3 years, IBHI returned 8.77%/yr vs 21.41%/yr for AVIV. A 0.61 correlation means they provide meaningful diversification when combined. IBHI charges 0.35%/yr vs 0.25%/yr for AVIV.

Performance

IBHI vs. AVIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2029 Term High Yield and Income ETF (IBHI) and Avantis International Large Cap Value ETF (AVIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBHI achieves a 1.47% return, which is significantly lower than AVIV's 12.06% return.

IBHI

• 1D: 0.13%
• 1M: 0.67%
• YTD: 1.47%
• 6M: 2.17%
• 1Y: 6.95%
• 3Y*: 8.77%
• 5Y*: —
• 10Y*: —

AVIV

• 1D: 0.59%
• 1M: 2.12%
• YTD: 12.06%
• 6M: 13.52%
• 1Y: 32.22%
• 3Y*: 21.41%
• 5Y*: —
• 10Y*: —

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

IBHI vs. AVIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IBHI iShares iBonds 2029 Term High Yield and Income ETF	1.47%	7.88%	8.33%	14.21%	-8.52%
AVIV Avantis International Large Cap Value ETF	12.06%	41.80%	4.30%	18.47%	-2.99%

Correlation

The correlation between IBHI and AVIV is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (All Time) Calculated using the full available price history since Mar 10, 2022	0.61

The correlation between IBHI and AVIV has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.

Return for Risk

IBHI vs. AVIV — Risk / Return Rank

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

IBHI

IBHI Risk / Return Rank: 69
IBHI Sharpe Ratio Rank: 61
IBHI Sortino Ratio Rank: 69
IBHI Omega Ratio Rank: 63
IBHI Calmar Ratio Rank: 72
IBHI Martin Ratio Rank: 81

AVIV

AVIV Risk / Return Rank: 74
AVIV Sharpe Ratio Rank: 77
AVIV Sortino Ratio Rank: 77
AVIV Omega Ratio Rank: 77
AVIV Calmar Ratio Rank: 66
AVIV Martin Ratio Rank: 71

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.

IBHI vs. AVIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2029 Term High Yield and Income ETF (IBHI) and Avantis International Large Cap Value ETF (AVIV). 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.

	IBHI	AVIV	Difference
Sharpe ratio: Return per unit of total volatility	1.78	2.15	-0.37
Sortino ratio: Return per unit of downside risk	2.73	2.96	-0.22
Omega ratio: Gain probability vs. loss probability	1.33	1.39	-0.06
Calmar ratio: Return relative to maximum drawdown	3.22	2.91	+0.31
Martin ratio: Return relative to average drawdown	14.06	11.35	+2.70

IBHI vs. AVIV - Sharpe Ratio Comparison

The current IBHI Sharpe Ratio is 1.78, which is comparable to the AVIV Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of IBHI and AVIV, 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

IBHI vs. AVIV - Drawdown Comparison

The maximum IBHI drawdown since its inception was -13.65%, smaller than the maximum AVIV drawdown of -27.69%. Use the drawdown chart below to compare losses from any high point for IBHI and AVIV.

Drawdown Indicators

	IBHI	AVIV	Difference
Max Drawdown Largest peak-to-trough decline	-13.65%	-27.69%	+14.04%
Max Drawdown (1Y) Largest decline over 1 year	-2.11%	-10.78%	+8.67%
Max Drawdown (3Y) Largest decline over 3 years	-5.73%	-14.13%	+8.40%
Current Drawdown Current decline from peak	-0.21%	-0.89%	+0.68%
Average Drawdown Average peak-to-trough decline	-2.83%	-5.10%	+2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	2.76%	-2.28%

Volatility

IBHI vs. AVIV - Volatility Comparison

The current volatility for iShares iBonds 2029 Term High Yield and Income ETF (IBHI) is 0.97%, while Avantis International Large Cap Value ETF (AVIV) has a volatility of 5.13%. This indicates that IBHI experiences smaller price fluctuations and is considered to be less risky than AVIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBHI	AVIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	5.13%	-4.16%
Volatility (6M) Calculated over the trailing 6-month period	2.79%	12.33%	-9.54%
Volatility (1Y) Calculated over the trailing 1-year period	3.82%	14.61%	-10.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.96%	16.93%	-8.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.96%	16.93%	-8.97%

IBHI vs. AVIV - Expense Ratio Comparison

IBHI has a 0.35% expense ratio, which is higher than AVIV's 0.25% expense ratio.

Dividends

IBHI vs. AVIV - Dividend Comparison

IBHI's dividend yield for the trailing twelve months is around 6.70%, more than AVIV's 3.95% yield.

Position	TTM	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	3.95%	3.01%	3.46%	3.64%	2.84%	0.57%
IBHI iShares iBonds 2029 Term High Yield and Income ETF	6.70%	6.79%	6.66%	6.48%	5.26%	0.00%

Frequently Asked Questions

Can I hold both IBHI and AVIV in my portfolio?

IBHI and AVIV have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBHI or AVIV?

AVIV has higher volatility (5.13%) compared to IBHI (0.97%). In terms of maximum drawdown, IBHI dropped -13.65% vs AVIV's -27.69%.

Which ETF is better, IBHI or AVIV?

On 3-year performance, AVIV leads with 21.41% vs 8.77% for IBHI. On fees, AVIV is cheaper at 0.25% per year. On volatility, IBHI has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHI or AVIV?

Over the 3-year period, AVIV has performed better with a 21.41% return vs 8.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHI or AVIV?

AVIV is cheaper with a 0.25% expense ratio, compared with 0.35% for IBHI.

Which ETF pays a higher dividend yield, IBHI or AVIV?

IBHI has the higher dividend yield at 6.70%, compared with 3.95% for AVIV.

What is the main difference between IBHI and AVIV?

IBHI is categorized as High Yield Bonds, while AVIV is Foreign Large Cap Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.35% for IBHI and 0.25% for AVIV.

Which has better risk-adjusted returns?

AVIV currently has the higher Sharpe Ratio (2.15 vs 1.78), 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.