IBHK vs. BBHY

Last updated Jun 4, 2026

IBHK (iShares iBonds 2031 Term High Yield and Income ETF) and BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - IBHK tracks the Bloomberg 2031 Term High Yield and Income Index while BBHY tracks the ICE BofA US High Yield Index. Both are passively managed. Over the past year, IBHK returned 7.25% vs 7.15% for BBHY. Their correlation of 0.90 suggests significant overlap in exposure. IBHK charges 0.35%/yr vs 0.15%/yr for BBHY.

Performance

IBHK vs. BBHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2031 Term High Yield and Income ETF (IBHK) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with IBHK having a 1.66% return and BBHY slightly lower at 1.58%.

IBHK

• 1D: -0.32%
• 1M: 0.51%
• YTD: 1.66%
• 6M: 2.12%
• 1Y: 7.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BBHY

• 1D: -0.24%
• 1M: 0.42%
• YTD: 1.58%
• 6M: 1.96%
• 1Y: 7.15%
• 3Y*: 8.61%
• 5Y*: 4.09%
• 10Y*: —

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

IBHK vs. BBHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBHK iShares iBonds 2031 Term High Yield and Income ETF	1.66%	9.05%	5.05%
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	1.58%	8.51%	5.79%

Correlation

The correlation between IBHK and BBHY is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since May 28, 2024	0.90

The correlation between IBHK and BBHY has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

Return for Risk

IBHK vs. BBHY — Risk / Return Rank

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

IBHK

IBHK Risk / Return Rank: 57
IBHK Sharpe Ratio Rank: 54
IBHK Sortino Ratio Rank: 58
IBHK Omega Ratio Rank: 56
IBHK Calmar Ratio Rank: 53
IBHK Martin Ratio Rank: 63

BBHY

BBHY Risk / Return Rank: 63
BBHY Sharpe Ratio Rank: 58
BBHY Sortino Ratio Rank: 64
BBHY Omega Ratio Rank: 63
BBHY Calmar Ratio Rank: 60
BBHY Martin Ratio Rank: 72

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.

IBHK vs. BBHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2031 Term High Yield and Income ETF (IBHK) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). 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.

	IBHK	BBHY	Difference
Sharpe ratio Return per unit of total volatility	1.79	1.98	-0.19
Sortino ratio Return per unit of downside risk	2.71	3.01	-0.29
Omega ratio Gain probability vs. loss probability	1.34	1.39	-0.05
Calmar ratio Return relative to maximum drawdown	2.58	3.02	-0.45
Martin ratio Return relative to average drawdown	11.36	13.58	-2.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBHK vs. BBHY - Sharpe Ratio Comparison

The current IBHK Sharpe Ratio is 1.79, which is comparable to the BBHY Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of IBHK and BBHY, 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

	IBHK	BBHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	1.98	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.54	0.64	+0.90

Drawdowns

IBHK vs. BBHY - Drawdown Comparison

The maximum IBHK drawdown since its inception was -4.83%, smaller than the maximum BBHY drawdown of -24.98%. Use the drawdown chart below to compare losses from any high point for IBHK and BBHY.

Drawdown Indicators

	IBHK	BBHY	Difference
Max Drawdown Largest peak-to-trough decline	-4.83%	-24.98%	+20.15%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-2.37%	-0.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.00%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.32%	—
Current Drawdown Current decline from peak	-0.40%	-0.30%	-0.10%
Average Drawdown Average peak-to-trough decline	-0.49%	-2.37%	+1.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.64%	0.53%	+0.11%

Volatility

IBHK vs. BBHY - Volatility Comparison

iShares iBonds 2031 Term High Yield and Income ETF (IBHK) has a higher volatility of 1.26% compared to JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) at 1.12%. This indicates that IBHK's price experiences larger fluctuations and is considered to be riskier than BBHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBHK	BBHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	1.12%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	3.19%	2.86%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	4.06%	3.62%	+0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.12%	7.26%	-2.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.12%	7.53%	-2.41%

IBHK vs. BBHY - Expense Ratio Comparison

IBHK has a 0.35% expense ratio, which is higher than BBHY's 0.15% expense ratio.

Dividends

IBHK vs. BBHY - Dividend Comparison

IBHK's dividend yield for the trailing twelve months is around 6.48%, less than BBHY's 6.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	6.95%	7.24%	7.18%	6.49%	5.92%	4.06%	4.73%	4.99%	5.02%	4.81%	1.42%
IBHK iShares iBonds 2031 Term High Yield and Income ETF	6.48%	6.52%	4.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBHK and BBHY in my portfolio?

IBHK and BBHY have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBHK or BBHY?

IBHK has higher volatility (1.26%) compared to BBHY (1.12%). In terms of maximum drawdown, IBHK dropped -4.83% vs BBHY's -24.98%.

Which ETF is better, IBHK or BBHY?

On 1-year performance, IBHK leads with 7.25% vs 7.15% for BBHY. On fees, BBHY is cheaper at 0.15% per year. On volatility, BBHY has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHK or BBHY?

Over the 1-year period, IBHK has performed better with a 7.25% return vs 7.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHK or BBHY?

BBHY is cheaper with a 0.15% expense ratio, compared with 0.35% for IBHK.

Which ETF pays a higher dividend yield, IBHK or BBHY?

BBHY has the higher dividend yield at 6.95%, compared with 6.48% for IBHK.

What is the main difference between IBHK and BBHY?

IBHK tracks Bloomberg 2031 Term High Yield and Income Index, while BBHY tracks ICE BofA US High Yield Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.35% for IBHK and 0.15% for BBHY.

Which has better risk-adjusted returns?

BBHY currently has the higher Sharpe Ratio (1.98 vs 1.79), 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.