IBII vs. HYGI

Last updated Jun 6, 2026

IBII (iShares iBonds Oct 2032 Term TIPS ETF) and HYGI (iShares Inflation Hedged High Yield Bond ETF) are both Inflation-Protected Bonds funds from iShares - IBII tracks the ICE 2032 Maturity US Inflation-Linked Treasury Index while HYGI tracks the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Both are passively managed. At a 0.39 correlation, their price movements are largely independent. IBII charges 0.10%/yr vs 0.52%/yr for HYGI.

Performance

IBII vs. HYGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2032 Term TIPS ETF (IBII) and iShares Inflation Hedged High Yield Bond ETF (HYGI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBII

• 1D: -0.50%
• 1M: -0.90%
• YTD: 1.12%
• 6M: 0.82%
• 1Y: 5.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYGI

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBII vs. HYGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBII iShares iBonds Oct 2032 Term TIPS ETF	1.12%	8.65%	1.21%	4.85%
HYGI iShares Inflation Hedged High Yield Bond ETF	0.00%	6.20%	9.16%	5.85%

Correlation

The correlation between IBII and HYGI is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.39

The correlation between IBII and HYGI shifts across timeframes, from 0.23 (1 year) to 0.39 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IBII vs. HYGI — Risk / Return Rank

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

IBII

IBII Risk / Return Rank: 51
IBII Sharpe Ratio Rank: 47
IBII Sortino Ratio Rank: 51
IBII Omega Ratio Rank: 46
IBII Calmar Ratio Rank: 56
IBII Martin Ratio Rank: 55

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.

IBII vs. HYGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2032 Term TIPS ETF (IBII) and iShares Inflation Hedged High Yield Bond ETF (HYGI). 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.

	IBII	HYGI	Difference
Sharpe ratio: Return per unit of total volatility	1.51	—	—
Sortino ratio: Return per unit of downside risk	2.30	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.61	—	—
Martin ratio: Return relative to average drawdown	9.07	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IBII	HYGI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	—	—

Drawdowns

Drawdown Indicators

	IBII	HYGI	Difference
Max Drawdown Largest peak-to-trough decline	-4.65%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-1.98%	—	—
Current Drawdown Current decline from peak	-1.14%	—	—
Average Drawdown Average peak-to-trough decline	-1.12%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.57%	—	—

Volatility

Volatility by Period

	IBII	HYGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.34%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.44%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.42%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.42%	—	—

IBII vs. HYGI - Expense Ratio Comparison

IBII has a 0.10% expense ratio, which is lower than HYGI's 0.52% expense ratio.

Dividends

IBII vs. HYGI - Dividend Comparison

IBII's dividend yield for the trailing twelve months is around 4.07%, more than HYGI's 0.97% yield.

Position	TTM	2025	2024	2023	2022
HYGI iShares Inflation Hedged High Yield Bond ETF	0.97%	3.41%	6.08%	6.22%	3.19%
IBII iShares iBonds Oct 2032 Term TIPS ETF	4.07%	4.80%	4.76%	1.10%	0.00%

Frequently Asked Questions

Can I hold both IBII and HYGI in my portfolio?

IBII and HYGI have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBII or HYGI?

On fees, IBII is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBII or HYGI?

IBII is cheaper with a 0.10% expense ratio, compared with 0.52% for HYGI.

Which ETF pays a higher dividend yield, IBII or HYGI?

IBII has the higher dividend yield at 4.07%, compared with 0.97% for HYGI.

What is the main difference between IBII and HYGI?

IBII tracks ICE 2032 Maturity US Inflation-Linked Treasury Index, while HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Their fees differ too: 0.10% for IBII and 0.52% for HYGI.