IBHI vs. JPHY
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. Over the past year, IBHI returned 5.95% vs 6.32% for JPHY. Their correlation of 0.80 suggests significant overlap in exposure. IBHI charges 0.35%/yr vs 0.24%/yr for JPHY.
Performance
IBHI vs. JPHY - Performance Comparison
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Returns By Period
In the year-to-date period, IBHI achieves a 1.56% return, which is significantly lower than JPHY's 2.24% return.
IBHI
- 1D
- 0.00%
- 1M
- 0.07%
- YTD
- 1.56%
- 6M
- 1.60%
- 1Y
- 5.95%
- 3Y*
- 9.05%
- 5Y*
- —
- 10Y*
- —
JPHY
- 1D
- 0.02%
- 1M
- 0.26%
- YTD
- 2.24%
- 6M
- 2.21%
- 1Y
- 6.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBHI vs. JPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBHI iShares iBonds 2029 Term High Yield and Income ETF | 1.56% | 4.58% |
JPHY JPMorgan High Yield Research Enhanced ETF | 2.24% | 4.06% |
Correlation
The correlation between IBHI and JPHY is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025 | 0.80 |
The correlation between IBHI and JPHY has been stable across timeframes, ranging from 0.80 to 0.80 - a consistent structural relationship.
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Return for Risk
IBHI vs. JPHY — Risk / Return Rank
IBHI
JPHY
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.
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 | JPHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.44 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | 3.85 | -1.02 |
| Martin ratioReturn relative to average drawdown | 12.36 | 17.77 | -5.41 |
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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.
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Drawdown Indicators
| IBHI | JPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.65% | -1.65% | -12.00% |
Max Drawdown (1Y)Largest decline over 1 year | -2.11% | -1.65% | -0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -5.73% | — | — |
Current DrawdownCurrent decline from peak | -0.23% | -0.13% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -2.81% | -0.21% | -2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.36% | +0.12% |
Volatility
IBHI vs. JPHY - Volatility Comparison
iShares iBonds 2029 Term High Yield and Income ETF (IBHI) has a higher volatility of 0.71% compared to JPMorgan High Yield Research Enhanced ETF (JPHY) at 0.61%. This indicates that IBHI's price experiences larger fluctuations and is considered to be riskier than JPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBHI | JPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.61% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 2.31% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.78% | 3.00% | +0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.93% | 3.00% | +4.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.93% | 3.00% | +4.93% |
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 6.69%, more than JPHY's 5.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBHI iShares iBonds 2029 Term High Yield and Income ETF | 6.69% | 6.79% | 6.66% | 6.48% | 5.26% |
JPHY JPMorgan High Yield Research Enhanced ETF | 5.91% | 3.32% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBHI and JPHY have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBHI has higher volatility (0.71%) compared to JPHY (0.61%). In terms of maximum drawdown, IBHI dropped -13.65% vs JPHY's -1.65%.
On 1-year performance, JPHY leads with 6.32% vs 5.95% for IBHI. On fees, JPHY is cheaper at 0.24% per year. On volatility, JPHY has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, JPHY has performed better with a 6.32% return vs 5.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPHY is cheaper with a 0.24% expense ratio, compared with 0.35% for IBHI.
IBHI has the higher dividend yield at 6.69%, compared with 5.91% for JPHY.
They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.35% for IBHI and 0.24% for JPHY.
JPHY currently has the higher Sharpe Ratio (2.12 vs 1.58), 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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