IBHL vs. THY
IBHL (iShares iBonds 2032 Term High Yield and Income ETF) and THY (Agility Shares Dynamic Tactical Income ETF) are both High Yield Bonds funds. IBHL is passively managed, while THY is actively managed. Over the past year, IBHL returned 6.07% vs 3.23% for THY. A 0.70 correlation means they provide meaningful diversification when combined. IBHL charges 0.35%/yr vs 1.36%/yr for THY.
Performance
IBHL vs. THY - Performance Comparison
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Returns By Period
In the year-to-date period, IBHL achieves a 1.17% return, which is significantly higher than THY's 0.78% return.
IBHL
- 1D
- 0.08%
- 1M
- 0.68%
- YTD
- 1.17%
- 6M
- 1.25%
- 1Y
- 6.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
THY
- 1D
- -0.02%
- 1M
- 0.60%
- YTD
- 0.78%
- 6M
- 0.89%
- 1Y
- 3.23%
- 3Y*
- 5.46%
- 5Y*
- 1.65%
- 10Y*
- —
IBHL vs. THY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBHL iShares iBonds 2032 Term High Yield and Income ETF | 1.17% | 8.46% |
THY Agility Shares Dynamic Tactical Income ETF | 0.78% | 4.80% |
Correlation
The correlation between IBHL and THY is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | 0.70 |
The correlation between IBHL and THY has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.
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Return for Risk
IBHL vs. THY — Risk / Return Rank
IBHL
THY
IBHL vs. THY - 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 Agility Shares Dynamic Tactical Income ETF (THY). 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 | THY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.20 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 2.02 | -0.01 |
| Martin ratioReturn relative to average drawdown | 8.81 | 4.78 | +4.03 |
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Drawdowns
IBHL vs. THY - Drawdown Comparison
The maximum IBHL drawdown since its inception was -3.70%, smaller than the maximum THY drawdown of -8.56%. Use the drawdown chart below to compare losses from any high point for IBHL and THY.
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Drawdown Indicators
| IBHL | THY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.70% | -8.56% | +4.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -1.60% | -1.43% |
Max Drawdown (3Y)Largest decline over 3 years | — | -2.74% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.56% | — |
Current DrawdownCurrent decline from peak | -0.15% | -0.50% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -0.45% | -2.60% | +2.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.68% | +0.01% |
Volatility
IBHL vs. THY - Volatility Comparison
iShares iBonds 2032 Term High Yield and Income ETF (IBHL) has a higher volatility of 1.15% compared to Agility Shares Dynamic Tactical Income ETF (THY) at 0.96%. This indicates that IBHL's price experiences larger fluctuations and is considered to be riskier than THY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBHL | THY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 0.96% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 3.31% | 1.95% | +1.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 2.98% | +1.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.36% | 4.56% | +0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 4.47% | +0.89% |
IBHL vs. THY - Expense Ratio Comparison
IBHL has a 0.35% expense ratio, which is lower than THY's 1.36% expense ratio.
Dividends
IBHL vs. THY - Dividend Comparison
IBHL's dividend yield for the trailing twelve months is around 6.28%, more than THY's 5.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IBHL iShares iBonds 2032 Term High Yield and Income ETF | 6.28% | 4.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
THY Agility Shares Dynamic Tactical Income ETF | 5.43% | 6.00% | 5.09% | 4.59% | 2.56% | 3.46% | 2.53% |
Frequently Asked Questions
IBHL and THY have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBHL has higher volatility (1.15%) compared to THY (0.96%). In terms of maximum drawdown, IBHL dropped -3.70% vs THY's -8.56%.
On 1-year performance, IBHL leads with 6.07% vs 3.23% for THY. On fees, IBHL is cheaper at 0.35% per year. On volatility, THY has been the lower-risk option at 0.96%. 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 6.07% return vs 3.23%. 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 1.36% for THY.
IBHL has the higher dividend yield at 6.28%, compared with 5.43% for THY.
They also come from different issuers: iShares and Toews Corp.. Their fees differ too: 0.35% for IBHL and 1.36% for THY.
IBHL currently has the higher Sharpe Ratio (1.48 vs 1.09), 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.
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