IBHI vs. JPHY

Last updated Jun 6, 2026

IBHI (iShares iBonds 2029 Term High Yield and Income ETF) and JPHY (JPMorgan High Yield Research Enhanced ETF) are both High Yield Bonds funds. IBHI is passively managed, while JPHY is actively managed. Their correlation of 0.81 suggests significant overlap in exposure. IBHI charges 0.35%/yr vs 0.24%/yr for JPHY.

Performance

IBHI vs. JPHY - 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 JPMorgan High Yield Research Enhanced ETF (JPHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBHI achieves a 1.30% return, which is significantly lower than JPHY's 1.82% return.

IBHI

• 1D: -0.30%
• 1M: 0.05%
• YTD: 1.30%
• 6M: 1.91%
• 1Y: 6.85%
• 3Y*: 8.79%
• 5Y*: —
• 10Y*: —

JPHY

• 1D: -0.24%
• 1M: -0.08%
• YTD: 1.82%
• 6M: 2.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBHI vs. JPHY - Yearly Performance Comparison

	2026 (YTD)	2025
IBHI iShares iBonds 2029 Term High Yield and Income ETF	1.30%	4.32%
JPHY JPMorgan High Yield Research Enhanced ETF	1.82%	4.00%

Correlation

The correlation between IBHI and JPHY is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.81

IBHI vs. JPHY - Sectors Allocation Comparison

Sectors	IBHI	JPHY
Energy	100.0%	7.0%
Basic Materials	-	3.6%
Communication Services	-	15.8%
Consumer Cyclical	-	8.9%
Consumer Defensive	-	2.4%
Financial Services	-	1.8%
Healthcare	-	5.1%
Industrials	-	10.8%
Real Estate	-	3.0%
Technology	-	4.8%
Utilities	-	2.8%

Return for Risk

IBHI vs. JPHY — Risk / Return Rank

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

IBHI

IBHI Risk / Return Rank: 65
IBHI Sharpe Ratio Rank: 56
IBHI Sortino Ratio Rank: 63
IBHI Omega Ratio Rank: 58
IBHI Calmar Ratio Rank: 68
IBHI Martin Ratio Rank: 78

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. JPHY - 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 JPMorgan High Yield Research Enhanced ETF (JPHY). 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.

	IBHI	JPHY	Difference
Sharpe ratio: Return per unit of total volatility	1.81	—	—
Sortino ratio: Return per unit of downside risk	2.78	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	3.26	—	—
Martin ratio: Return relative to average drawdown	14.30	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IBHI	JPHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	2.06	-1.41

Drawdowns

IBHI vs. JPHY - Drawdown Comparison

The maximum IBHI drawdown since its inception was -13.65%, which is greater than JPHY's maximum drawdown of -1.65%. Use the drawdown chart below to compare losses from any high point for IBHI and JPHY.

Drawdown Indicators

	IBHI	JPHY	Difference
Max Drawdown Largest peak-to-trough decline	-13.65%	-1.65%	-12.00%
Max Drawdown (1Y) Largest decline over 1 year	-2.11%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.73%	—	—
Current Drawdown Current decline from peak	-0.38%	-0.34%	-0.04%
Average Drawdown Average peak-to-trough decline	-2.84%	-0.21%	-2.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	—	—

Volatility

Volatility by Period

	IBHI	JPHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.78%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.81%	3.04%	+0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.98%	3.04%	+4.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.98%	3.04%	+4.94%

IBHI vs. JPHY - Expense Ratio Comparison

IBHI has a 0.35% expense ratio, which is higher than JPHY's 0.24% expense ratio.

Dividends

IBHI vs. JPHY - Dividend Comparison

IBHI's dividend yield for the trailing twelve months is around 6.71%, more than JPHY's 5.93% yield.

Position	TTM	2025	2024	2023	2022
IBHI iShares iBonds 2029 Term High Yield and Income ETF	6.71%	6.79%	6.66%	6.48%	5.26%
JPHY JPMorgan High Yield Research Enhanced ETF	5.93%	3.32%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBHI and JPHY in my portfolio?

IBHI and JPHY have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBHI or JPHY?

On fees, JPHY is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBHI or JPHY?

JPHY is cheaper with a 0.24% expense ratio, compared with 0.35% for IBHI.

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

IBHI has the higher dividend yield at 6.71%, compared with 5.93% for JPHY.

What is the main difference between IBHI and JPHY?

They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.35% for IBHI and 0.24% for JPHY.