IBHL vs. BBHY
IBHL (iShares iBonds 2032 Term High Yield and Income ETF) and BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - IBHL tracks the Bloomberg 2032 Term High Yield and Income Index while BBHY tracks the ICE BofA US High Yield Index. Both are passively managed. Over the past year, IBHL returned 6.07% vs 6.22% for BBHY. Their correlation of 0.91 suggests significant overlap in exposure. IBHL charges 0.35%/yr vs 0.15%/yr for BBHY.
Performance
IBHL vs. BBHY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBHL achieves a 1.17% return, which is significantly lower than BBHY's 1.80% return.
IBHL
- 1D
- 0.08%
- 1M
- 0.68%
- YTD
- 1.17%
- 6M
- 1.25%
- 1Y
- 6.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BBHY
- 1D
- 0.07%
- 1M
- 0.55%
- YTD
- 1.80%
- 6M
- 1.79%
- 1Y
- 6.22%
- 3Y*
- 8.87%
- 5Y*
- 3.97%
- 10Y*
- —
IBHL vs. BBHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBHL iShares iBonds 2032 Term High Yield and Income ETF | 1.17% | 8.46% |
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 1.80% | 6.63% |
Correlation
The correlation between IBHL and BBHY is 0.92, 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 | 0.92 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | 0.91 |
The correlation between IBHL and BBHY has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBHL vs. BBHY — Risk / Return Rank
IBHL
BBHY
IBHL vs. BBHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2032 Term High Yield and Income ETF (IBHL) 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.
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.
| IBHL | BBHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.33 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 2.63 | -0.62 |
| Martin ratioReturn relative to average drawdown | 8.81 | 11.73 | -2.92 |
Loading charts...
Drawdowns
IBHL vs. BBHY - Drawdown Comparison
The maximum IBHL drawdown since its inception was -3.70%, smaller than the maximum BBHY drawdown of -24.98%. Use the drawdown chart below to compare losses from any high point for IBHL and BBHY.
Loading charts...
Drawdown Indicators
| IBHL | BBHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.70% | -24.98% | +21.28% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -2.37% | -0.66% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.00% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.32% | — |
Current DrawdownCurrent decline from peak | -0.15% | -0.23% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -0.45% | -2.36% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.53% | +0.16% |
Volatility
IBHL vs. BBHY - Volatility Comparison
iShares iBonds 2032 Term High Yield and Income ETF (IBHL) has a higher volatility of 1.15% compared to JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) at 1.06%. This indicates that IBHL'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.
Loading charts...
Volatility by Period
| IBHL | BBHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.06% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.31% | 2.94% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 3.67% | +0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.36% | 7.28% | -1.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 7.52% | -2.16% |
IBHL vs. BBHY - Expense Ratio Comparison
IBHL has a 0.35% expense ratio, which is higher than BBHY's 0.15% expense ratio.
Dividends
IBHL vs. BBHY - Dividend Comparison
IBHL's dividend yield for the trailing twelve months is around 6.28%, less than BBHY's 6.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 6.93% | 7.24% | 7.18% | 6.49% | 5.92% | 4.06% | 4.73% | 4.99% | 5.02% | 4.81% | 1.42% |
IBHL iShares iBonds 2032 Term High Yield and Income ETF | 6.28% | 4.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, IBHL and BBHY 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.
IBHL has higher volatility (1.15%) compared to BBHY (1.06%). In terms of maximum drawdown, IBHL dropped -3.70% vs BBHY's -24.98%.
On 1-year performance, BBHY leads with 6.22% vs 6.07% for IBHL. On fees, BBHY is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BBHY has performed better with a 6.22% return vs 6.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBHY is cheaper with a 0.15% expense ratio, compared with 0.35% for IBHL.
BBHY has the higher dividend yield at 6.93%, compared with 6.28% for IBHL.
IBHL tracks Bloomberg 2032 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 IBHL and 0.15% for BBHY.
BBHY currently has the higher Sharpe Ratio (1.70 vs 1.48), 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.
Find the right allocation for IBHL and BBHY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer