IBHL vs. LDRH

Last updated Jun 25, 2026

IBHL (iShares iBonds 2032 Term High Yield and Income ETF) and LDRH (iShares iBonds 1-5 Year High Yield and Income Ladder ETF) are both High Yield Bonds funds from iShares - IBHL tracks the Bloomberg 2032 Term High Yield and Income Index while LDRH tracks the BlackRock iBonds 1-5 Year High Yield and Income Ladder Index. Both are passively managed. Over the past year, IBHL returned 6.07% vs 5.77% for LDRH. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.

Performance

IBHL vs. LDRH - 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 iShares iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH). 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 LDRH's 1.96% return.

IBHL

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

LDRH

• 1D: -0.02%
• 1M: 0.31%
• YTD: 1.96%
• 6M: 1.88%
• 1Y: 5.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBHL vs. LDRH - Yearly Performance Comparison

	2026 (YTD)	2025
IBHL iShares iBonds 2032 Term High Yield and Income ETF	1.17%	8.46%
LDRH iShares iBonds 1-5 Year High Yield and Income Ladder ETF	1.96%	5.59%

Correlation

The correlation between IBHL and LDRH is 0.81, 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	0.81
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025	0.84

The correlation between IBHL and LDRH has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

Return for Risk

IBHL vs. LDRH — 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

LDRH

LDRH Risk / Return Rank: 86
LDRH Sharpe Ratio Rank: 79
LDRH Sortino Ratio Rank: 89
LDRH Omega Ratio Rank: 82
LDRH Calmar Ratio Rank: 89
LDRH Martin Ratio Rank: 91

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. LDRH - 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 iShares iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH). 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	LDRH	Difference
Sharpe ratio: Return per unit of total volatility	1.48	2.23	-0.75
Sortino ratio: Return per unit of downside risk	2.24	3.60	-1.36
Omega ratio: Gain probability vs. loss probability	1.28	1.43	-0.15
Calmar ratio: Return relative to maximum drawdown	2.01	4.70	-2.69
Martin ratio: Return relative to average drawdown	8.81	19.42	-10.61

IBHL vs. LDRH - Sharpe Ratio Comparison

The current IBHL Sharpe Ratio is 1.48, which is lower than the LDRH Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of IBHL and LDRH, 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. LDRH - Drawdown Comparison

The maximum IBHL drawdown since its inception was -3.70%, which is greater than LDRH's maximum drawdown of -3.17%. Use the drawdown chart below to compare losses from any high point for IBHL and LDRH.

Drawdown Indicators

	IBHL	LDRH	Difference
Max Drawdown Largest peak-to-trough decline	-3.70%	-3.17%	-0.53%
Max Drawdown (1Y) Largest decline over 1 year	-3.03%	-1.23%	-1.80%
Current Drawdown Current decline from peak	-0.15%	-0.28%	+0.13%
Average Drawdown Average peak-to-trough decline	-0.45%	-0.24%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	0.30%	+0.39%

Volatility

IBHL vs. LDRH - Volatility Comparison

iShares iBonds 2032 Term High Yield and Income ETF (IBHL) has a higher volatility of 1.15% compared to iShares iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH) at 0.61%. This indicates that IBHL's price experiences larger fluctuations and is considered to be riskier than LDRH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBHL	LDRH	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	0.61%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	3.31%	1.97%	+1.34%
Volatility (1Y) Calculated over the trailing 1-year period	4.15%	2.60%	+1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.36%	3.47%	+1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.36%	3.47%	+1.89%

IBHL vs. LDRH - Expense Ratio Comparison

Both IBHL and LDRH have an expense ratio of 0.35%.

Dividends

IBHL vs. LDRH - Dividend Comparison

IBHL's dividend yield for the trailing twelve months is around 6.28%, less than LDRH's 6.99% yield.

Position	TTM	2025	2024
IBHL iShares iBonds 2032 Term High Yield and Income ETF	6.28%	4.90%	0.00%
LDRH iShares iBonds 1-5 Year High Yield and Income Ladder ETF	6.99%	6.41%	1.13%

Frequently Asked Questions

Can I hold both IBHL and LDRH in my portfolio?

IBHL and LDRH have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBHL or LDRH?

IBHL has higher volatility (1.15%) compared to LDRH (0.61%). In terms of maximum drawdown, IBHL dropped -3.70% vs LDRH's -3.17%.

Which ETF is better, IBHL or LDRH?

On 1-year performance, IBHL leads with 6.07% vs 5.77% for LDRH. Both ETFs have the same 0.35% expense ratio. On volatility, LDRH has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHL or LDRH?

Over the 1-year period, IBHL has performed better with a 6.07% return vs 5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHL or LDRH?

IBHL and LDRH have the same expense ratio: 0.35% per year.

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

LDRH has the higher dividend yield at 6.99%, compared with 6.28% for IBHL.

What is the main difference between IBHL and LDRH?

IBHL tracks Bloomberg 2032 Term High Yield and Income Index, while LDRH tracks BlackRock iBonds 1-5 Year High Yield and Income Ladder Index.

Which has better risk-adjusted returns?

LDRH currently has the higher Sharpe Ratio (2.23 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.