IBHL vs. FTSL
IBHL (iShares iBonds 2032 Term High Yield and Income ETF) and FTSL (First Trust Senior Loan Fund) are both High Yield Bonds funds. IBHL is passively managed, while FTSL is actively managed. Over the past year, IBHL returned 6.79% vs 4.21% for FTSL. A 0.51 correlation means they provide meaningful diversification when combined. IBHL charges 0.35%/yr vs 0.86%/yr for FTSL.
Performance
IBHL vs. FTSL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBHL achieves a 1.16% return, which is significantly higher than FTSL's 0.66% return.
IBHL
- 1D
- -0.02%
- 1M
- 0.68%
- YTD
- 1.16%
- 6M
- 1.51%
- 1Y
- 6.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FTSL
- 1D
- -0.02%
- 1M
- 0.21%
- YTD
- 0.66%
- 6M
- 0.71%
- 1Y
- 4.21%
- 3Y*
- 7.15%
- 5Y*
- 5.02%
- 10Y*
- 4.45%
IBHL vs. FTSL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBHL iShares iBonds 2032 Term High Yield and Income ETF | 1.16% | 8.46% |
FTSL First Trust Senior Loan Fund | 0.66% | 5.18% |
Correlation
The correlation between IBHL and FTSL is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | 0.51 |
The correlation between IBHL and FTSL has been stable across timeframes, ranging from 0.50 to 0.51 - 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. FTSL — Risk / Return Rank
IBHL
FTSL
IBHL vs. FTSL - 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 First Trust Senior Loan Fund (FTSL). 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 | FTSL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.46 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 1.81 | +0.44 |
| Martin ratioReturn relative to average drawdown | 9.86 | 6.74 | +3.12 |
Loading charts...
Drawdowns
IBHL vs. FTSL - Drawdown Comparison
The maximum IBHL drawdown since its inception was -3.70%, smaller than the maximum FTSL drawdown of -22.67%. Use the drawdown chart below to compare losses from any high point for IBHL and FTSL.
Loading charts...
Drawdown Indicators
| IBHL | FTSL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.70% | -22.67% | +18.97% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -2.33% | -0.70% |
Max Drawdown (3Y)Largest decline over 3 years | — | -2.66% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.96% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.67% | — |
Current DrawdownCurrent decline from peak | -0.16% | -0.02% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -0.45% | -0.76% | +0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.63% | +0.06% |
Volatility
IBHL vs. FTSL - Volatility Comparison
iShares iBonds 2032 Term High Yield and Income ETF (IBHL) has a higher volatility of 1.14% compared to First Trust Senior Loan Fund (FTSL) at 0.33%. This indicates that IBHL's price experiences larger fluctuations and is considered to be riskier than FTSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IBHL | FTSL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.33% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 3.32% | 1.96% | +1.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 2.12% | +2.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 3.35% | +2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.37% | 5.19% | +0.18% |
IBHL vs. FTSL - Expense Ratio Comparison
IBHL has a 0.35% expense ratio, which is lower than FTSL's 0.86% expense ratio.
Dividends
IBHL vs. FTSL - Dividend Comparison
IBHL's dividend yield for the trailing twelve months is around 6.28%, less than FTSL's 6.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSL First Trust Senior Loan Fund | 6.46% | 6.59% | 7.56% | 7.59% | 4.77% | 3.17% | 3.48% | 4.44% | 4.29% | 3.64% | 3.70% | 3.95% |
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% | 0.00% |
Frequently Asked Questions
IBHL and FTSL have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBHL has higher volatility (1.14%) compared to FTSL (0.33%). In terms of maximum drawdown, IBHL dropped -3.70% vs FTSL's -22.67%.
On 1-year performance, IBHL leads with 6.79% vs 4.21% for FTSL. On fees, IBHL is cheaper at 0.35% per year. On volatility, FTSL has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBHL has performed better with a 6.79% return vs 4.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHL is cheaper with a 0.35% expense ratio, compared with 0.86% for FTSL.
FTSL has the higher dividend yield at 6.46%, compared with 6.28% for IBHL.
They also come from different issuers: iShares and First Trust. Their fees differ too: 0.35% for IBHL and 0.86% for FTSL.
FTSL currently has the higher Sharpe Ratio (1.99 vs 1.64), 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 FTSL
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