IBHK vs. HYLB

Last updated Jun 24, 2026

IBHK (iShares iBonds 2031 Term High Yield and Income ETF) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - IBHK tracks the Bloomberg 2031 Term High Yield and Income Index while HYLB tracks the Solactive USD High Yield Corporates Total Market Index. Both are passively managed. Over the past year, IBHK returned 6.70% vs 6.11% for HYLB. Their correlation of 0.91 suggests significant overlap in exposure. IBHK charges 0.35%/yr vs 0.15%/yr for HYLB.

Performance

IBHK vs. HYLB - 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 Xtrackers USD High Yield Corporate Bond ETF (HYLB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBHK achieves a 2.07% return, which is significantly higher than HYLB's 1.67% return.

IBHK

• 1D: -0.11%
• 1M: 0.66%
• YTD: 2.07%
• 6M: 2.31%
• 1Y: 6.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYLB

• 1D: -0.11%
• 1M: 0.46%
• YTD: 1.67%
• 6M: 1.81%
• 1Y: 6.11%
• 3Y*: 8.96%
• 5Y*: 3.93%
• 10Y*: —

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

IBHK vs. HYLB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBHK iShares iBonds 2031 Term High Yield and Income ETF	2.07%	9.05%	5.05%
HYLB Xtrackers USD High Yield Corporate Bond ETF	1.67%	8.74%	6.70%

Correlation

The correlation between IBHK and HYLB 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 (All Time) Calculated using the full available price history since May 24, 2024	0.91

The correlation between IBHK and HYLB has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.

Return for Risk

IBHK vs. HYLB — Risk / Return Rank

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

IBHK

IBHK Risk / Return Rank: 55
IBHK Sharpe Ratio Rank: 52
IBHK Sortino Ratio Rank: 56
IBHK Omega Ratio Rank: 53
IBHK Calmar Ratio Rank: 53
IBHK Martin Ratio Rank: 63

HYLB

HYLB Risk / Return Rank: 56
HYLB Sharpe Ratio Rank: 49
HYLB Sortino Ratio Rank: 54
HYLB Omega Ratio Rank: 53
HYLB Calmar Ratio Rank: 57
HYLB Martin Ratio Rank: 66

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. HYLB - 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 Xtrackers USD High Yield Corporate Bond ETF (HYLB). 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.

	IBHK	HYLB	Difference
Sharpe ratio: Return per unit of total volatility	1.62	1.63	-0.02
Sortino ratio: Return per unit of downside risk	2.44	2.47	-0.03
Omega ratio: Gain probability vs. loss probability	1.30	1.32	-0.01
Calmar ratio: Return relative to maximum drawdown	2.38	2.70	-0.32
Martin ratio: Return relative to average drawdown	10.38	11.55	-1.16

IBHK vs. HYLB - Sharpe Ratio Comparison

The current IBHK Sharpe Ratio is 1.62, which is comparable to the HYLB Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of IBHK and HYLB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBHK vs. HYLB - Drawdown Comparison

The maximum IBHK drawdown since its inception was -4.83%, smaller than the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for IBHK and HYLB.

Drawdown Indicators

	IBHK	HYLB	Difference
Max Drawdown Largest peak-to-trough decline	-4.83%	-22.91%	+18.08%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-2.27%	-0.55%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.54%	—
Current Drawdown Current decline from peak	-0.23%	-0.22%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.48%	-2.42%	+1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	0.53%	+0.12%

Volatility

IBHK vs. HYLB - Volatility Comparison

iShares iBonds 2031 Term High Yield and Income ETF (IBHK) has a higher volatility of 1.30% compared to Xtrackers USD High Yield Corporate Bond ETF (HYLB) at 1.06%. This indicates that IBHK's price experiences larger fluctuations and is considered to be riskier than HYLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBHK	HYLB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	1.06%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	3.35%	3.02%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	4.16%	3.77%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.11%	7.48%	-2.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.11%	8.16%	-3.05%

IBHK vs. HYLB - Expense Ratio Comparison

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

Dividends

IBHK vs. HYLB - Dividend Comparison

IBHK's dividend yield for the trailing twelve months is around 6.45%, which matches HYLB's 6.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
HYLB Xtrackers USD High Yield Corporate Bond ETF	6.48%	6.29%	6.31%	5.84%	5.53%	4.45%	5.22%	5.71%	5.95%	5.85%	0.27%
IBHK iShares iBonds 2031 Term High Yield and Income ETF	6.45%	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 HYLB in my portfolio?

With a correlation of 0.91, IBHK and HYLB 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.

Which is riskier, IBHK or HYLB?

IBHK has higher volatility (1.30%) compared to HYLB (1.06%). In terms of maximum drawdown, IBHK dropped -4.83% vs HYLB's -22.91%.

Which ETF is better, IBHK or HYLB?

On 1-year performance, IBHK leads with 6.70% vs 6.11% for HYLB. On fees, HYLB is cheaper at 0.15% per year. On volatility, HYLB has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHK or HYLB?

Over the 1-year period, IBHK has performed better with a 6.70% return vs 6.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHK or HYLB?

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

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

HYLB has the higher dividend yield at 6.48%, compared with 6.45% for IBHK.

What is the main difference between IBHK and HYLB?

IBHK tracks Bloomberg 2031 Term High Yield and Income Index, while HYLB tracks Solactive USD High Yield Corporates Total Market Index. They also come from different issuers: iShares and DWS. Their fees differ too: 0.35% for IBHK and 0.15% for HYLB.

Which has better risk-adjusted returns?

HYLB currently has the higher Sharpe Ratio (1.63 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.