IBHI vs. HYZD
IBHI (iShares iBonds 2029 Term High Yield and Income ETF) and HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) are both High Yield Bonds funds - IBHI tracks the Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross while HYZD tracks the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. Both are passively managed. Over the past 3 years, IBHI returned 8.43%/yr vs 8.44%/yr for HYZD. Their 0.55 correlation means they have sometimes moved together and sometimes differently. IBHI charges 0.35%/yr vs 0.43%/yr for HYZD.
Performance
IBHI vs. HYZD - Performance Comparison
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Returns By Period
In the year-to-date period, IBHI achieves a 1.85% return, which is significantly lower than HYZD's 3.50% return.
IBHI
- 1D
- -0.13%
- 1M
- 0.00%
- 6M
- 1.33%
- YTD
- 1.85%
- 1Y
- 5.38%
- 3Y*
- 8.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.09%
HYZD
- 1D
- 0.15%
- 1M
- 0.51%
- 6M
- 2.66%
- YTD
- 3.50%
- 1Y
- 7.45%
- 3Y*
- 8.44%
- 5Y*
- 6.27%
- 10Y*
- 5.36%
- ALL TIME*
- 4.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.53M | $1.90M | $1.53M | |
| $2.56M | $2.56M | $2.91M |
IBHI vs. HYZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBHI iShares iBonds 2029 Term High Yield and Income ETF | 1.85% | 7.88% | 8.33% | 14.21% | -8.52% |
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 3.50% | 7.67% | 9.39% | 11.17% | 0.68% |
Correlation
The correlation between IBHI and HYZD is 0.31, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.31 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2022 | 0.55 |
Over the past year, the correlation between IBHI and HYZD has dropped to 0.31 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.
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Return for Risk
IBHI vs. HYZD — Risk / Return Rank
IBHI
HYZD
IBHI vs. HYZD - 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 WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD). 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 | HYZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.48 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 3.66 | -1.11 |
| Martin ratioReturn relative to average drawdown | 11.18 | 15.97 | -4.80 |
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Drawdowns
IBHI vs. HYZD - Drawdown Comparison
The maximum IBHI drawdown since its inception was -13.65%, smaller than the maximum HYZD drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for IBHI and HYZD.
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Drawdown Indicators
| IBHI | HYZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.65% | -25.66% | +12.01% |
Max Drawdown (1Y)Largest decline over 1 year | -2.11% | -1.91% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -5.73% | -5.85% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.66% | — |
Current DrawdownCurrent decline from peak | -0.21% | 0.00% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -2.75% | -2.18% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.44% | +0.04% |
Volatility
IBHI vs. HYZD - Volatility Comparison
iShares iBonds 2029 Term High Yield and Income ETF (IBHI) has a higher volatility of 0.61% compared to WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) at 0.44%. This indicates that IBHI's price experiences larger fluctuations and is considered to be riskier than HYZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBHI | HYZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 0.44% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 2.39% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.63% | 3.01% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.85% | 6.69% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.85% | 8.50% | -0.65% |
IBHI vs. HYZD - Expense Ratio Comparison
IBHI has a 0.35% expense ratio, which is lower than HYZD's 0.43% expense ratio.
Dividends
IBHI vs. HYZD - Dividend Comparison
IBHI's dividend yield for the trailing twelve months is around 6.66%, more than HYZD's 5.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.89% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
IBHI iShares iBonds 2029 Term High Yield and Income ETF | 6.08% | 6.79% | 6.66% | 6.48% | 5.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBHI and HYZD have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBHI has higher volatility (0.61%) compared to HYZD (0.44%). In terms of maximum drawdown, IBHI dropped -13.65% vs HYZD's -25.66%.
On 3-year performance, HYZD leads with 8.44% vs 8.43% for IBHI. On fees, IBHI is cheaper at 0.35% per year. On volatility, HYZD has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYZD has performed better with a 8.44% return vs 8.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHI is cheaper with a 0.35% expense ratio, compared with 0.43% for HYZD.
IBHI has the higher dividend yield at 6.08%, compared with 5.89% for HYZD.
IBHI tracks Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross, while HYZD tracks WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.35% for IBHI and 0.43% for HYZD.
HYZD currently has the higher Sharpe Ratio (2.32 vs 1.49), 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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