IBHL vs. HYLB

Last updated Jun 25, 2026

IBHL (iShares iBonds 2032 Term High Yield and Income ETF) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - IBHL tracks the Bloomberg 2032 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, IBHL returned 6.07% vs 5.85% for HYLB. Their correlation of 0.93 suggests significant overlap in exposure. IBHL charges 0.35%/yr vs 0.15%/yr for HYLB.

Performance

IBHL vs. HYLB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2032 Term High Yield and Income ETF (IBHL) 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, IBHL achieves a 1.17% return, which is significantly lower than HYLB's 1.70% return.

IBHL

• 1D: 0.08%
• 1M: 0.68%
• YTD: 1.17%
• 6M: 1.25%
• 1Y: 6.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYLB

• 1D: 0.03%
• 1M: 0.49%
• YTD: 1.70%
• 6M: 1.67%
• 1Y: 5.85%
• 3Y*: 8.97%
• 5Y*: 3.92%
• 10Y*: —

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

IBHL vs. HYLB - Yearly Performance Comparison

	2026 (YTD)	2025
IBHL iShares iBonds 2032 Term High Yield and Income ETF	1.17%	8.46%
HYLB Xtrackers USD High Yield Corporate Bond ETF	1.70%	6.75%

Correlation

The correlation between IBHL and HYLB is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025	0.93

The correlation between IBHL and HYLB has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.

Return for Risk

IBHL vs. HYLB — Risk / Return Rank

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

IBHL

IBHL Risk / Return Rank: 51
IBHL Sharpe Ratio Rank: 49
IBHL Sortino Ratio Rank: 53
IBHL Omega Ratio Rank: 50
IBHL Calmar Ratio Rank: 46
IBHL Martin Ratio Rank: 57

HYLB

HYLB Risk / Return Rank: 57
HYLB Sharpe Ratio Rank: 51
HYLB Sortino Ratio Rank: 55
HYLB Omega Ratio Rank: 54
HYLB Calmar Ratio Rank: 58
HYLB Martin Ratio Rank: 68

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.

IBHL vs. HYLB - 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 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.

	IBHL	HYLB	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.57	-0.09
Sortino ratio: Return per unit of downside risk	2.24	2.37	-0.13
Omega ratio: Gain probability vs. loss probability	1.28	1.31	-0.03
Calmar ratio: Return relative to maximum drawdown	2.01	2.59	-0.57
Martin ratio: Return relative to average drawdown	8.81	11.05	-2.24

IBHL vs. HYLB - Sharpe Ratio Comparison

The current IBHL Sharpe Ratio is 1.48, which is comparable to the HYLB Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of IBHL 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

IBHL vs. HYLB - Drawdown Comparison

The maximum IBHL drawdown since its inception was -3.70%, smaller than the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for IBHL and HYLB.

Drawdown Indicators

	IBHL	HYLB	Difference
Max Drawdown Largest peak-to-trough decline	-3.70%	-22.91%	+19.21%
Max Drawdown (1Y) Largest decline over 1 year	-3.03%	-2.27%	-0.76%
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	-0.15%	-0.19%	+0.04%
Average Drawdown Average peak-to-trough decline	-0.45%	-2.42%	+1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	0.53%	+0.16%

Volatility

IBHL vs. HYLB - Volatility Comparison

iShares iBonds 2032 Term High Yield and Income ETF (IBHL) has a higher volatility of 1.15% compared to Xtrackers USD High Yield Corporate Bond ETF (HYLB) at 1.06%. This indicates that IBHL'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

	IBHL	HYLB	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%	3.02%	+0.29%
Volatility (1Y) Calculated over the trailing 1-year period	4.15%	3.76%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.36%	7.48%	-2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.36%	8.16%	-2.80%

IBHL vs. HYLB - Expense Ratio Comparison

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

Dividends

IBHL vs. HYLB - Dividend Comparison

IBHL's dividend yield for the trailing twelve months is around 6.28%, less than 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%
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

Can I hold both IBHL and HYLB in my portfolio?

With a correlation of 0.93, IBHL 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, IBHL or HYLB?

IBHL has higher volatility (1.15%) compared to HYLB (1.06%). In terms of maximum drawdown, IBHL dropped -3.70% vs HYLB's -22.91%.

Which ETF is better, IBHL or HYLB?

On 1-year performance, IBHL leads with 6.07% vs 5.85% for HYLB. On fees, HYLB 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.

Which ETF has performed better, IBHL or HYLB?

Over the 1-year period, IBHL has performed better with a 6.07% return vs 5.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHL or HYLB?

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

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

HYLB has the higher dividend yield at 6.48%, compared with 6.28% for IBHL.

What is the main difference between IBHL and HYLB?

IBHL tracks Bloomberg 2032 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 IBHL and 0.15% for HYLB.

Which has better risk-adjusted returns?

HYLB currently has the higher Sharpe Ratio (1.57 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.