IBHI vs. THY

Last updated Jun 5, 2026

IBHI (iShares iBonds 2029 Term High Yield and Income ETF) and THY (Agility Shares Dynamic Tactical Income ETF) are both High Yield Bonds funds. IBHI is passively managed, while THY is actively managed. Over the past 3 years, IBHI returned 9.00%/yr vs 5.33%/yr for THY. A 0.61 correlation means they provide meaningful diversification when combined. IBHI charges 0.35%/yr vs 1.36%/yr for THY.

Performance

IBHI vs. THY - 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 Agility Shares Dynamic Tactical Income ETF (THY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBHI achieves a 1.61% return, which is significantly higher than THY's 0.62% return.

IBHI

• 1D: 0.09%
• 1M: 0.50%
• YTD: 1.61%
• 6M: 2.21%
• 1Y: 6.99%
• 3Y*: 9.00%
• 5Y*: —
• 10Y*: —

THY

• 1D: 0.17%
• 1M: -0.35%
• YTD: 0.62%
• 6M: 0.89%
• 1Y: 4.10%
• 3Y*: 5.33%
• 5Y*: 1.75%
• 10Y*: —

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

IBHI vs. THY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IBHI iShares iBonds 2029 Term High Yield and Income ETF	1.61%	7.88%	8.33%	14.21%	-8.52%
THY Agility Shares Dynamic Tactical Income ETF	0.62%	4.44%	5.38%	4.97%	-4.35%

Correlation

The correlation between IBHI and THY is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (All Time) Calculated using the full available price history since Mar 11, 2022	0.61

The correlation between IBHI and THY has been stable across timeframes, ranging from 0.61 to 0.68 - a consistent structural relationship.

IBHI vs. THY - Sectors Allocation Comparison

Sectors	IBHI	THY
Energy	100.0%	0.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	99.9%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IBHI vs. THY — Risk / Return Rank

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

IBHI

IBHI Risk / Return Rank: 64
IBHI Sharpe Ratio Rank: 55
IBHI Sortino Ratio Rank: 61
IBHI Omega Ratio Rank: 57
IBHI Calmar Ratio Rank: 68
IBHI Martin Ratio Rank: 77

THY

THY Risk / Return Rank: 43
THY Sharpe Ratio Rank: 40
THY Sortino Ratio Rank: 41
THY Omega Ratio Rank: 40
THY Calmar Ratio Rank: 53
THY Martin Ratio Rank: 40

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. THY - 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 Agility Shares Dynamic Tactical Income ETF (THY). 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	THY	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.40	+0.45
Sortino ratio: Return per unit of downside risk	2.85	2.08	+0.77
Omega ratio: Gain probability vs. loss probability	1.35	1.25	+0.09
Calmar ratio: Return relative to maximum drawdown	3.33	2.57	+0.76
Martin ratio: Return relative to average drawdown	14.61	6.24	+8.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBHI vs. THY - Sharpe Ratio Comparison

The current IBHI Sharpe Ratio is 1.85, which is higher than the THY Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of IBHI and THY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBHI	THY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	1.40	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.49	+0.17

Drawdowns

IBHI vs. THY - Drawdown Comparison

The maximum IBHI drawdown since its inception was -13.65%, which is greater than THY's maximum drawdown of -8.56%. Use the drawdown chart below to compare losses from any high point for IBHI and THY.

Drawdown Indicators

	IBHI	THY	Difference
Max Drawdown Largest peak-to-trough decline	-13.65%	-8.56%	-5.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.11%	-1.60%	-0.51%
Max Drawdown (3Y) Largest decline over 3 years	-5.73%	-2.74%	-2.99%
Max Drawdown (5Y) Largest decline over 5 years	—	-8.56%	—
Current Drawdown Current decline from peak	-0.09%	-0.66%	+0.57%
Average Drawdown Average peak-to-trough decline	-2.84%	-2.61%	-0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	0.66%	-0.18%

Volatility

IBHI vs. THY - Volatility Comparison

iShares iBonds 2029 Term High Yield and Income ETF (IBHI) and Agility Shares Dynamic Tactical Income ETF (THY) have volatilities of 0.92% and 0.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBHI	THY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	0.94%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.77%	1.87%	+0.90%
Volatility (1Y) Calculated over the trailing 1-year period	3.81%	2.97%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.98%	4.55%	+3.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.98%	4.48%	+3.50%

IBHI vs. THY - Expense Ratio Comparison

IBHI has a 0.35% expense ratio, which is lower than THY's 1.36% expense ratio.

Dividends

IBHI vs. THY - Dividend Comparison

IBHI's dividend yield for the trailing twelve months is around 6.69%, more than THY's 5.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
IBHI iShares iBonds 2029 Term High Yield and Income ETF	6.69%	6.79%	6.66%	6.48%	5.26%	0.00%	0.00%
THY Agility Shares Dynamic Tactical Income ETF	5.39%	6.00%	5.09%	4.59%	2.56%	3.46%	2.53%

Frequently Asked Questions

Can I hold both IBHI and THY in my portfolio?

IBHI and THY have a correlation of 0.68, 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 THY?

THY has higher volatility (0.94%) compared to IBHI (0.92%). In terms of maximum drawdown, IBHI dropped -13.65% vs THY's -8.56%.

Which ETF is better, IBHI or THY?

On 3-year performance, IBHI leads with 9.00% vs 5.33% for THY. On fees, IBHI is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHI or THY?

Over the 3-year period, IBHI has performed better with a 9.00% return vs 5.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHI or THY?

IBHI is cheaper with a 0.35% expense ratio, compared with 1.36% for THY.

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

IBHI has the higher dividend yield at 6.69%, compared with 5.39% for THY.

What is the main difference between IBHI and THY?

They also come from different issuers: iShares and Toews Corp.. Their fees differ too: 0.35% for IBHI and 1.36% for THY.

Which has better risk-adjusted returns?

IBHI currently has the higher Sharpe Ratio (1.85 vs 1.40), 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.