IFLN vs. USHY
IFLN (Invesco Bloomberg Enhanced Fallen Angels ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - IFLN tracks the Bloomberg US High Yield Enhanced Fallen Angels Index while USHY tracks the ICE BofA US High Yield Constrained. Both are passively managed. Over the past 5 years, IFLN returned 3.59%/yr vs 4.24%/yr for USHY. Their correlation of 0.88 suggests significant overlap in exposure. IFLN charges 0.23%/yr vs 0.15%/yr for USHY.
Performance
IFLN vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, IFLN achieves a 0.57% return, which is significantly lower than USHY's 1.42% return.
IFLN
- 1D
- -0.25%
- 1M
- 0.55%
- YTD
- 0.57%
- 6M
- 0.84%
- 1Y
- 5.87%
- 3Y*
- 7.32%
- 5Y*
- 3.59%
- 10Y*
- 4.60%
USHY
- 1D
- -0.27%
- 1M
- 0.40%
- YTD
- 1.42%
- 6M
- 1.77%
- 1Y
- 7.02%
- 3Y*
- 8.91%
- 5Y*
- 4.24%
- 10Y*
- —
IFLN vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IFLN Invesco Bloomberg Enhanced Fallen Angels ETF | 0.57% | 8.75% | 5.54% | 11.19% | -8.77% | 3.32% | 5.20% | 13.59% | -2.69% | 0.45% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.42% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 6.17% | 14.24% | -2.41% | 0.16% |
Correlation
The correlation between IFLN and USHY is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.88 |
The correlation between IFLN and USHY has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.
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Return for Risk
IFLN vs. USHY — Risk / Return Rank
IFLN
USHY
IFLN vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Enhanced Fallen Angels ETF (IFLN) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.
| IFLN | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.37 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 2.90 | -1.46 |
| Martin ratioReturn relative to average drawdown | 5.93 | 13.03 | -7.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IFLN | USHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.52 | 1.93 | -0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 0.58 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.58 | -0.29 |
Drawdowns
IFLN vs. USHY - Drawdown Comparison
The maximum IFLN drawdown since its inception was -44.79%, which is greater than USHY's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for IFLN and USHY.
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Drawdown Indicators
| IFLN | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.79% | -22.44% | -22.35% |
Max Drawdown (1Y)Largest decline over 1 year | -4.08% | -2.43% | -1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -4.08% | -4.66% | +0.58% |
Max Drawdown (5Y)Largest decline over 5 years | -13.76% | -15.56% | +1.80% |
Max Drawdown (10Y)Largest decline over 10 years | -21.52% | — | — |
Current DrawdownCurrent decline from peak | -0.49% | -0.27% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -2.67% | -1.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 0.54% | +0.45% |
Volatility
IFLN vs. USHY - Volatility Comparison
Invesco Bloomberg Enhanced Fallen Angels ETF (IFLN) has a higher volatility of 1.26% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.13%. This indicates that IFLN's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IFLN | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 1.13% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.17% | 2.91% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.90% | 3.65% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.37% | 7.34% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.89% | 8.25% | -1.36% |
IFLN vs. USHY - Expense Ratio Comparison
IFLN has a 0.23% expense ratio, which is higher than USHY's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IFLN vs. USHY - Dividend Comparison
IFLN's dividend yield for the trailing twelve months is around 5.82%, less than USHY's 6.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IFLN Invesco Bloomberg Enhanced Fallen Angels ETF | 5.82% | 5.48% | 5.69% | 4.68% | 3.52% | 3.37% | 3.90% | 4.03% | 4.44% | 4.14% | 4.58% | 4.69% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.92% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% | 0.00% | 0.00% |
Frequently Asked Questions
IFLN and USHY have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IFLN has higher volatility (1.26%) compared to USHY (1.13%). In terms of maximum drawdown, IFLN dropped -44.79% vs USHY's -22.44%.
On 5-year performance, USHY leads with 4.24% vs 3.59% for IFLN. On fees, USHY is cheaper at 0.15% per year. On volatility, USHY has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USHY has performed better with a 4.24% return vs 3.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USHY is cheaper with a 0.15% expense ratio, compared with 0.23% for IFLN.
USHY has the higher dividend yield at 6.92%, compared with 5.82% for IFLN.
IFLN tracks Bloomberg US High Yield Enhanced Fallen Angels Index, while USHY tracks ICE BofA US High Yield Constrained. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.23% for IFLN and 0.15% for USHY.
USHY currently has the higher Sharpe Ratio (1.93 vs 1.51), 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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