IBHJ vs. USHY
IBHJ (iShares iBonds 2030 Term High Yield and Income ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds from iShares - IBHJ tracks the Bloomberg 2030 Term High Yield and Income Index - Benchmark TR Gross while USHY tracks the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 3 years, IBHJ returned 9.02%/yr vs 9.18%/yr for USHY. Their correlation of 0.91 suggests significant overlap in exposure. IBHJ charges 0.35%/yr vs 0.15%/yr for USHY.
Performance
IBHJ vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, IBHJ achieves a 1.97% return, which is significantly higher than USHY's 1.70% return.
IBHJ
- 1D
- -0.08%
- 1M
- 0.60%
- YTD
- 1.97%
- 6M
- 2.15%
- 1Y
- 6.70%
- 3Y*
- 9.02%
- 5Y*
- —
- 10Y*
- —
USHY
- 1D
- -0.08%
- 1M
- 0.48%
- YTD
- 1.70%
- 6M
- 1.87%
- 1Y
- 6.34%
- 3Y*
- 9.18%
- 5Y*
- 4.15%
- 10Y*
- —
IBHJ vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBHJ iShares iBonds 2030 Term High Yield and Income ETF | 1.97% | 9.28% | 7.32% | 8.37% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.70% | 8.81% | 8.45% | 8.13% |
Correlation
The correlation between IBHJ and USHY is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | 0.91 |
The correlation between IBHJ and USHY has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.
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Return for Risk
IBHJ vs. USHY — Risk / Return Rank
IBHJ
USHY
IBHJ vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2030 Term High Yield and Income ETF (IBHJ) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.
| IBHJ | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.33 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 2.62 | +0.11 |
| Martin ratioReturn relative to average drawdown | 12.20 | 11.73 | +0.47 |
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Drawdowns
IBHJ vs. USHY - Drawdown Comparison
The maximum IBHJ drawdown since its inception was -4.93%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for IBHJ and USHY.
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Drawdown Indicators
| IBHJ | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.93% | -22.44% | +17.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.46% | -2.43% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -4.93% | -4.66% | -0.27% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.56% | — |
Current DrawdownCurrent decline from peak | -0.23% | -0.19% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -0.62% | -2.65% | +2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.54% | +0.01% |
Volatility
IBHJ vs. USHY - Volatility Comparison
iShares iBonds 2030 Term High Yield and Income ETF (IBHJ) has a higher volatility of 1.18% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 0.95%. This indicates that IBHJ's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBHJ | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 0.95% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 3.29% | 2.96% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 3.68% | +0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 7.35% | -1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.92% | 8.23% | -2.31% |
IBHJ vs. USHY - Expense Ratio Comparison
IBHJ has a 0.35% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
IBHJ vs. USHY - Dividend Comparison
IBHJ's dividend yield for the trailing twelve months is around 6.65%, less than USHY's 6.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IBHJ iShares iBonds 2030 Term High Yield and Income ETF | 6.65% | 6.64% | 6.87% | 3.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.90% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% |
Frequently Asked Questions
With a correlation of 0.91, IBHJ and USHY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IBHJ has higher volatility (1.18%) compared to USHY (0.95%). In terms of maximum drawdown, IBHJ dropped -4.93% vs USHY's -22.44%.
On 3-year performance, USHY leads with 9.18% vs 9.02% for IBHJ. On fees, USHY is cheaper at 0.15% per year. On volatility, USHY has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, USHY has performed better with a 9.18% return vs 9.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USHY is cheaper with a 0.15% expense ratio, compared with 0.35% for IBHJ.
USHY has the higher dividend yield at 6.90%, compared with 6.65% for IBHJ.
IBHJ tracks Bloomberg 2030 Term High Yield and Income Index - Benchmark TR Gross, while USHY tracks ICE BofA US High Yield Constrained Index. Their fees differ too: 0.35% for IBHJ and 0.15% for USHY.
USHY currently has the higher Sharpe Ratio (1.73 vs 1.62), 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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