IBND vs. IGHG
IBND (SPDR Bloomberg Barclays International Corporate Bond ETF) and IGHG (ProShares Investment Grade-Interest Rate Hedged) are both Corporate Bonds funds - IBND tracks the Bloomberg Global Aggregate x USD >$1B: Corporate Bond while IGHG tracks the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. Both are passively managed. Over the past 10 years, IBND returned 0.48%/yr vs 4.76%/yr for IGHG. Their 0.03 correlation means their historical movements had little consistent relationship. IBND charges 0.50%/yr vs 0.30%/yr for IGHG.
Performance
IBND vs. IGHG - Performance Comparison
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Returns By Period
In the year-to-date period, IBND achieves a -1.95% return, which is significantly lower than IGHG's 2.20% return. Over the past 10 years, IBND has underperformed IGHG with an annualized return of 0.48%, while IGHG has yielded a comparatively higher 4.76% annualized return.
IBND
- 1D
- -0.12%
- 1M
- -0.16%
- 6M
- -3.66%
- YTD
- -1.95%
- 1Y
- -0.02%
- 3Y*
- 5.22%
- 5Y*
- -1.45%
- 10Y*
- 0.48%
- ALL TIME*
- 1.46%
IGHG
- 1D
- 0.17%
- 1M
- -0.05%
- 6M
- 1.60%
- YTD
- 2.20%
- 1Y
- 4.84%
- 3Y*
- 7.47%
- 5Y*
- 5.38%
- 10Y*
- 4.76%
- ALL TIME*
- 3.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.13M | $1.63M | $2.53M | |
| $1.19M | $1.15M | $1.90M |
IBND vs. IGHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | -1.95% | 16.17% | -2.81% | 10.38% | -19.44% | -8.40% | 11.50% | 4.41% | -6.15% | 14.84% |
IGHG ProShares Investment Grade-Interest Rate Hedged | 2.20% | 5.65% | 9.20% | 11.58% | -0.90% | 0.88% | 0.61% | 12.73% | -3.96% | 4.49% |
Correlation
The correlation between IBND and IGHG is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2013 | 0.03 |
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Return for Risk
IBND vs. IGHG — Risk / Return Rank
IBND
IGHG
IBND vs. IGHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) and ProShares Investment Grade-Interest Rate Hedged (IGHG). 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.
| IBND | IGHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.26 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 2.66 | -2.48 |
| Martin ratioReturn relative to average drawdown | 0.40 | 9.17 | -8.77 |
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Drawdowns
IBND vs. IGHG - Drawdown Comparison
The maximum IBND drawdown since its inception was -35.62%, which is greater than IGHG's maximum drawdown of -25.16%. Use the drawdown chart below to compare losses from any high point for IBND and IGHG.
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Drawdown Indicators
| IBND | IGHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.62% | -25.16% | -10.46% |
Max Drawdown (1Y)Largest decline over 1 year | -6.75% | -1.75% | -5.00% |
Max Drawdown (3Y)Largest decline over 3 years | -9.18% | -3.74% | -5.44% |
Max Drawdown (5Y)Largest decline over 5 years | -33.40% | -8.75% | -24.65% |
Max Drawdown (10Y)Largest decline over 10 years | -35.62% | -25.16% | -10.46% |
Current DrawdownCurrent decline from peak | -10.25% | -0.17% | -10.08% |
Average DrawdownAverage peak-to-trough decline | -10.63% | -2.27% | -8.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 0.51% | +2.56% |
Volatility
IBND vs. IGHG - Volatility Comparison
SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) has a higher volatility of 1.99% compared to ProShares Investment Grade-Interest Rate Hedged (IGHG) at 0.58%. This indicates that IBND's price experiences larger fluctuations and is considered to be riskier than IGHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBND | IGHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 0.58% | +1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 6.26% | 2.06% | +4.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.78% | 3.32% | +4.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.76% | 4.99% | +4.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.91% | 7.31% | +1.60% |
IBND vs. IGHG - Expense Ratio Comparison
IBND has a 0.50% expense ratio, which is higher than IGHG's 0.30% expense ratio.
Dividends
IBND vs. IGHG - Dividend Comparison
IBND's dividend yield for the trailing twelve months is around 2.79%, less than IGHG's 5.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | 2.56% | 2.49% | 2.61% | 2.08% | 0.54% | 0.38% | 0.45% | 0.67% | 0.71% | 0.34% | 0.01% | 0.01% |
IGHG ProShares Investment Grade-Interest Rate Hedged | 4.67% | 5.14% | 5.06% | 4.99% | 3.55% | 2.50% | 2.79% | 3.48% | 4.13% | 3.36% | 3.37% | 3.65% |
Frequently Asked Questions
IBND and IGHG have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBND has higher volatility (1.99%) compared to IGHG (0.58%). In terms of maximum drawdown, IBND dropped -35.62% vs IGHG's -25.16%.
On 10-year performance, IGHG leads with 4.76% vs 0.48% for IBND. On fees, IGHG is cheaper at 0.30% per year. On volatility, IGHG has been the lower-risk option at 0.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGHG has performed better with a 4.76% return vs 0.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGHG is cheaper with a 0.30% expense ratio, compared with 0.50% for IBND.
IGHG has the higher dividend yield at 4.67%, compared with 2.56% for IBND.
IBND tracks Bloomberg Global Aggregate x USD >$1B: Corporate Bond, while IGHG tracks Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. They also come from different issuers: State Street and ProShares. Their fees differ too: 0.50% for IBND and 0.30% for IGHG.
IGHG currently has the higher Sharpe Ratio (1.40 vs 0.16), 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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