IBHM vs. HYGW
IBHM (iShares iBonds 2033 Term High Yield and Income ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both exchange-traded funds - IBHM is a High Yield Bonds fund tracking the Bloomberg 2033 Term High Yield and Income Index, while HYGW is a Derivative Income fund tracking the Cboe HYG BuyWrite Index. Both are passively managed. Their 0.67 correlation means they have sometimes moved together and sometimes differently. IBHM charges 0.35%/yr vs 0.69%/yr for HYGW.
Performance
IBHM vs. HYGW - Performance Comparison
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Returns By Period
IBHM
- 1D
- -0.08%
- 1M
- -0.73%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
HYGW
- 1D
- 0.14%
- 1M
- 0.11%
- 6M
- 1.81%
- YTD
- 2.36%
- 1Y
- 5.91%
- 3Y*
- 5.30%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $480.97K | $636.40K | $814.79K | |
| $89.93K | $107.48K | $111.05K |
IBHM vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
IBHM iShares iBonds 2033 Term High Yield and Income ETF | 2.23% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.44% |
Correlation
The correlation between IBHM and HYGW is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Mar 26, 2026 | 0.67 |
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Return for Risk
IBHM vs. HYGW — Risk / Return Rank
IBHM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYGW
IBHM vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2033 Term High Yield and Income ETF (IBHM) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.
| IBHM | HYGW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.42 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.26 | — |
| Martin ratioReturn relative to average drawdown | — | 14.57 | — |
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Drawdowns
IBHM vs. HYGW - Drawdown Comparison
The maximum IBHM drawdown since its inception was -1.67%, smaller than the maximum HYGW drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for IBHM and HYGW.
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Drawdown Indicators
| IBHM | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.67% | -5.49% | +3.82% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.82% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.42% | — |
Current DrawdownCurrent decline from peak | -0.81% | -0.21% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -0.41% | -0.59% | +0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.41% | — |
Volatility
IBHM vs. HYGW - Volatility Comparison
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Volatility by Period
| IBHM | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.80% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.32% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.73% | 2.92% | +1.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.73% | 4.62% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 4.62% | +0.11% |
IBHM vs. HYGW - Expense Ratio Comparison
IBHM has a 0.35% expense ratio, which is lower than HYGW's 0.69% expense ratio.
Dividends
IBHM vs. HYGW - Dividend Comparison
IBHM's dividend yield for the trailing twelve months is around 1.58%, less than HYGW's 10.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 10.71% | 12.53% | 12.30% | 15.98% | 8.71% |
IBHM iShares iBonds 2033 Term High Yield and Income ETF | 1.58% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBHM and HYGW have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBHM is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBHM is cheaper with a 0.35% expense ratio, compared with 0.69% for HYGW.
HYGW has the higher dividend yield at 10.71%, compared with 1.58% for IBHM.
IBHM is categorized as High Yield Bonds, while HYGW is Derivative Income. IBHM tracks Bloomberg 2033 Term High Yield and Income Index, while HYGW tracks Cboe HYG BuyWrite Index. Their fees differ too: 0.35% for IBHM and 0.69% for HYGW.
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