IBHI vs. NHYB

Last updated Jun 23, 2026

IBHI (iShares iBonds 2029 Term High Yield and Income ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds - IBHI tracks the Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross while NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index. Both are passively managed. A 0.77 correlation means they provide meaningful diversification when combined. IBHI charges 0.35%/yr vs 0.08%/yr for NHYB.

Performance

IBHI vs. NHYB - 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 Nuveen High Yield Corporate Bond ETF (NHYB). 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 lower than NHYB's 1.96% return.

IBHI

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

NHYB

• 1D: -0.12%
• 1M: 0.56%
• YTD: 1.96%
• 6M: 2.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBHI vs. NHYB - Yearly Performance Comparison

	2026 (YTD)	2025
IBHI iShares iBonds 2029 Term High Yield and Income ETF	1.80%	1.18%
NHYB Nuveen High Yield Corporate Bond ETF	1.96%	1.24%

Correlation

The correlation between IBHI and NHYB is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.77

Return for Risk

IBHI vs. NHYB — 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

NHYB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. NHYB - 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 Nuveen High Yield Corporate Bond ETF (NHYB). 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	NHYB	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	3.25	—	—
Martin ratio: Return relative to average drawdown	14.21	—	—

Drawdowns

IBHI vs. NHYB - Drawdown Comparison

The maximum IBHI drawdown since its inception was -13.65%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for IBHI and NHYB.

Drawdown Indicators

	IBHI	NHYB	Difference
Max Drawdown Largest peak-to-trough decline	-13.65%	-2.40%	-11.25%
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	0.00%	-0.15%	+0.15%
Average Drawdown Average peak-to-trough decline	-2.81%	-0.36%	-2.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	—	—

Volatility

Volatility by Period

	IBHI	NHYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.80%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	3.65%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.94%	3.65%	+4.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.94%	3.65%	+4.29%

IBHI vs. NHYB - Expense Ratio Comparison

IBHI has a 0.35% expense ratio, which is higher than NHYB's 0.08% expense ratio.

Dividends

IBHI vs. NHYB - Dividend Comparison

IBHI's dividend yield for the trailing twelve months is around 6.67%, more than NHYB's 4.24% yield.

Position	TTM	2025	2024	2023	2022
IBHI iShares iBonds 2029 Term High Yield and Income ETF	6.67%	6.79%	6.66%	6.48%	5.26%
NHYB Nuveen High Yield Corporate Bond ETF	4.24%	1.28%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBHI and NHYB in my portfolio?

IBHI and NHYB have a correlation of 0.77, 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 NHYB?

On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBHI or NHYB?

NHYB is cheaper with a 0.08% expense ratio, compared with 0.35% for IBHI.

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

IBHI has the higher dividend yield at 6.67%, compared with 4.24% for NHYB.

What is the main difference between IBHI and NHYB?

IBHI tracks Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross, while NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index. They also come from different issuers: iShares and Nuveen. Their fees differ too: 0.35% for IBHI and 0.08% for NHYB.