IGBH vs. IGEB

Last updated Jun 3, 2026

IGBH (iShares Interest Rate Hedged Long-Term Corporate Bond ETF) and IGEB (iShares Investment Grade Bond Factor ETF) are both Corporate Bonds funds from iShares - IGBH tracks the BlackRock Interest Rate Hedged Long-Term Corporate Bond Index while IGEB tracks the BlackRock Investment Grade Enhanced Bond Index. Both are passively managed. Over the past 5 years, IGBH returned 5.37%/yr vs 1.25%/yr for IGEB. At a 0.25 correlation, their price movements are largely independent. IGBH charges 0.16%/yr vs 0.18%/yr for IGEB.

Performance

IGBH vs. IGEB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) and iShares Investment Grade Bond Factor ETF (IGEB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGBH achieves a 2.43% return, which is significantly higher than IGEB's 0.64% return.

IGBH

• 1D: -0.08%
• 1M: 1.79%
• YTD: 2.43%
• 6M: 3.28%
• 1Y: 9.61%
• 3Y*: 9.00%
• 5Y*: 5.37%
• 10Y*: 5.05%

IGEB

• 1D: -0.03%
• 1M: 0.48%
• YTD: 0.64%
• 6M: 0.77%
• 1Y: 6.24%
• 3Y*: 5.96%
• 5Y*: 1.25%
• 10Y*: —

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

IGBH vs. IGEB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF	2.43%	7.90%	7.80%	12.12%	-2.82%	2.20%	1.09%	9.62%	-4.54%	4.30%
IGEB iShares Investment Grade Bond Factor ETF	0.64%	8.17%	3.10%	9.56%	-14.85%	-1.14%	11.23%	15.42%	-2.05%	1.53%

Correlation

The correlation between IGBH and IGEB is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jul 14, 2017	0.25

Over the past year, IGBH and IGEB have become more correlated (0.47) than their long-term average of 0.25, meaning their price movements have been converging.

Return for Risk

IGBH vs. IGEB — Risk / Return Rank

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

IGBH

IGBH Risk / Return Rank: 65
IGBH Sharpe Ratio Rank: 72
IGBH Sortino Ratio Rank: 79
IGBH Omega Ratio Rank: 77
IGBH Calmar Ratio Rank: 47
IGBH Martin Ratio Rank: 50

IGEB

IGEB Risk / Return Rank: 42
IGEB Sharpe Ratio Rank: 42
IGEB Sortino Ratio Rank: 44
IGEB Omega Ratio Rank: 41
IGEB Calmar Ratio Rank: 42
IGEB Martin Ratio Rank: 42

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.

IGBH vs. IGEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) and iShares Investment Grade Bond Factor ETF (IGEB). 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.

	IGBH	IGEB	Difference
Sharpe ratio Return per unit of total volatility	2.38	1.51	+0.87
Sortino ratio Return per unit of downside risk	3.58	2.22	+1.36
Omega ratio Gain probability vs. loss probability	1.46	1.27	+0.20
Calmar ratio Return relative to maximum drawdown	2.35	2.09	+0.26
Martin ratio Return relative to average drawdown	8.63	6.88	+1.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGBH vs. IGEB - Sharpe Ratio Comparison

The current IGBH Sharpe Ratio is 2.38, which is higher than the IGEB Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of IGBH and IGEB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IGBH	IGEB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	1.51	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.19	+0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.49	+0.03

Drawdowns

IGBH vs. IGEB - Drawdown Comparison

The maximum IGBH drawdown since its inception was -33.67%, which is greater than IGEB's maximum drawdown of -21.13%. Use the drawdown chart below to compare losses from any high point for IGBH and IGEB.

Drawdown Indicators

	IGBH	IGEB	Difference
Max Drawdown Largest peak-to-trough decline	-33.67%	-21.13%	-12.54%
Max Drawdown (1Y) Largest decline over 1 year	-4.24%	-2.88%	-1.36%
Max Drawdown (3Y) Largest decline over 3 years	-6.93%	-5.97%	-0.96%
Max Drawdown (5Y) Largest decline over 5 years	-10.48%	-21.13%	+10.65%
Max Drawdown (10Y) Largest decline over 10 years	-33.67%	—	—
Current Drawdown Current decline from peak	-0.08%	-0.81%	+0.73%
Average Drawdown Average peak-to-trough decline	-2.67%	-4.90%	+2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.15%	0.88%	+0.27%

Volatility

IGBH vs. IGEB - Volatility Comparison

The current volatility for iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) is 0.87%, while iShares Investment Grade Bond Factor ETF (IGEB) has a volatility of 1.35%. This indicates that IGBH experiences smaller price fluctuations and is considered to be less risky than IGEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGBH	IGEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	1.35%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	3.14%	3.09%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	4.06%	4.16%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.13%	6.70%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.21%	6.52%	+2.69%

IGBH vs. IGEB - Expense Ratio Comparison

IGBH has a 0.16% expense ratio, which is lower than IGEB's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IGBH vs. IGEB - Dividend Comparison

IGBH's dividend yield for the trailing twelve months is around 6.19%, more than IGEB's 5.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF	6.19%	6.23%	6.88%	7.32%	3.84%	2.71%	2.39%	3.40%	5.56%	2.87%	2.62%	1.12%
IGEB iShares Investment Grade Bond Factor ETF	5.05%	4.92%	5.09%	4.60%	3.64%	3.84%	3.78%	5.61%	3.59%	1.62%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IGBH and IGEB in my portfolio?

IGBH and IGEB have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGBH or IGEB?

IGEB has higher volatility (1.35%) compared to IGBH (0.87%). In terms of maximum drawdown, IGBH dropped -33.67% vs IGEB's -21.13%.

Which ETF is better, IGBH or IGEB?

On 5-year performance, IGBH leads with 5.37% vs 1.25% for IGEB. On fees, IGBH is cheaper at 0.16% per year. On volatility, IGBH has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGBH or IGEB?

Over the 5-year period, IGBH has performed better with a 5.37% return vs 1.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGBH or IGEB?

IGBH is cheaper with a 0.16% expense ratio, compared with 0.18% for IGEB.

Which ETF pays a higher dividend yield, IGBH or IGEB?

IGBH has the higher dividend yield at 6.19%, compared with 5.05% for IGEB.

What is the main difference between IGBH and IGEB?

IGBH tracks BlackRock Interest Rate Hedged Long-Term Corporate Bond Index, while IGEB tracks BlackRock Investment Grade Enhanced Bond Index. Their fees differ too: 0.16% for IGBH and 0.18% for IGEB.

Which has better risk-adjusted returns?

IGBH currently has the higher Sharpe Ratio (2.38 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.