IBHI vs. IBHG

Last updated Jun 23, 2026

IBHI (iShares iBonds 2029 Term High Yield and Income ETF) and IBHG (iShares iBonds 2027 Term High Yield and Income ETF) are both High Yield Bonds funds from iShares - IBHI tracks the Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross while IBHG tracks the Bloomberg 2027 Term High Yield and Income Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, IBHI returned 9.23%/yr vs 7.63%/yr for IBHG. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.

Performance

IBHI vs. IBHG - 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 iShares iBonds 2027 Term High Yield and Income ETF (IBHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBHI achieves a 1.80% return, which is significantly higher than IBHG's 1.17% return.

IBHI

• 1D: 0.06%
• 1M: 0.60%
• YTD: 1.80%
• 6M: 1.93%
• 1Y: 6.83%
• 3Y*: 9.23%
• 5Y*: —
• 10Y*: —

IBHG

• 1D: 0.00%
• 1M: 0.03%
• YTD: 1.17%
• 6M: 1.43%
• 1Y: 4.55%
• 3Y*: 7.63%
• 5Y*: —
• 10Y*: —

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

IBHI vs. IBHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IBHI iShares iBonds 2029 Term High Yield and Income ETF	1.80%	7.88%	8.33%	14.21%	-8.52%
IBHG iShares iBonds 2027 Term High Yield and Income ETF	1.17%	6.90%	7.42%	11.27%	-5.20%

Correlation

The correlation between IBHI and IBHG is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Mar 10, 2022	0.85

The correlation between IBHI and IBHG shifts across timeframes, from 0.71 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IBHI vs. IBHG — Risk / Return Rank

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

IBHI

IBHI Risk / Return Rank: 63
IBHI Sharpe Ratio Rank: 55
IBHI Sortino Ratio Rank: 61
IBHI Omega Ratio Rank: 57
IBHI Calmar Ratio Rank: 67
IBHI Martin Ratio Rank: 77

IBHG

IBHG Risk / Return Rank: 82
IBHG Sharpe Ratio Rank: 70
IBHG Sortino Ratio Rank: 80
IBHG Omega Ratio Rank: 73
IBHG Calmar Ratio Rank: 93
IBHG Martin Ratio Rank: 93

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. IBHG - 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 iShares iBonds 2027 Term High Yield and Income ETF (IBHG). 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	IBHG	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.19	-0.37
Sortino ratio: Return per unit of downside risk	2.78	3.40	-0.62
Omega ratio: Gain probability vs. loss probability	1.34	1.42	-0.07
Calmar ratio: Return relative to maximum drawdown	3.25	6.29	-3.04
Martin ratio: Return relative to average drawdown	14.21	22.89	-8.68

IBHI vs. IBHG - Sharpe Ratio Comparison

The current IBHI Sharpe Ratio is 1.81, which is comparable to the IBHG Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of IBHI and IBHG, 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. IBHG - Drawdown Comparison

The maximum IBHI drawdown since its inception was -13.65%, roughly equal to the maximum IBHG drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for IBHI and IBHG.

Drawdown Indicators

	IBHI	IBHG	Difference
Max Drawdown Largest peak-to-trough decline	-13.65%	-13.85%	+0.20%
Max Drawdown (1Y) Largest decline over 1 year	-2.11%	-0.73%	-1.38%
Max Drawdown (3Y) Largest decline over 3 years	-5.73%	-3.39%	-2.34%
Current Drawdown Current decline from peak	0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-2.81%	-2.64%	-0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	0.20%	+0.28%

Volatility

IBHI vs. IBHG - Volatility Comparison

iShares iBonds 2029 Term High Yield and Income ETF (IBHI) has a higher volatility of 0.75% compared to iShares iBonds 2027 Term High Yield and Income ETF (IBHG) at 0.44%. This indicates that IBHI's price experiences larger fluctuations and is considered to be riskier than IBHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBHI	IBHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	0.44%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	2.80%	1.52%	+1.28%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	2.09%	+1.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.94%	6.33%	+1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.94%	6.33%	+1.61%

IBHI vs. IBHG - Expense Ratio Comparison

Both IBHI and IBHG have an expense ratio of 0.35%.

Dividends

IBHI vs. IBHG - Dividend Comparison

IBHI's dividend yield for the trailing twelve months is around 6.67%, more than IBHG's 6.07% yield.

Position	TTM	2025	2024	2023	2022	2021
IBHG iShares iBonds 2027 Term High Yield and Income ETF	6.07%	6.33%	7.02%	6.66%	5.62%	2.13%
IBHI iShares iBonds 2029 Term High Yield and Income ETF	6.67%	6.79%	6.66%	6.48%	5.26%	0.00%

Frequently Asked Questions

Can I hold both IBHI and IBHG in my portfolio?

IBHI and IBHG have a correlation of 0.71, 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 IBHG?

IBHI has higher volatility (0.75%) compared to IBHG (0.44%). In terms of maximum drawdown, IBHI dropped -13.65% vs IBHG's -13.85%.

Which ETF is better, IBHI or IBHG?

On 3-year performance, IBHI leads with 9.23% vs 7.63% for IBHG. Both ETFs have the same 0.35% expense ratio. On volatility, IBHG has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHI or IBHG?

Over the 3-year period, IBHI has performed better with a 9.23% return vs 7.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHI or IBHG?

IBHI and IBHG have the same expense ratio: 0.35% per year.

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

IBHI has the higher dividend yield at 6.67%, compared with 6.07% for IBHG.

What is the main difference between IBHI and IBHG?

IBHI tracks Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross, while IBHG tracks Bloomberg 2027 Term High Yield and Income Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

IBHG currently has the higher Sharpe Ratio (2.19 vs 1.81), 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.