IGEB vs. GHYB
IGEB (iShares Investment Grade Bond Factor ETF) and GHYB (Goldman Sachs Access High Yield Corporate Bond ETF) are both exchange-traded funds - IGEB is a Corporate Bonds fund tracking the BlackRock Investment Grade Enhanced Bond Index, while GHYB is a High Yield Bonds fund tracking the FTSE Goldman Sachs High Yield Corporate Bond Index. Both are passively managed. Over the past 5 years, IGEB returned 0.96%/yr vs 3.99%/yr for GHYB. At a 0.47 correlation, their price movements are largely independent. IGEB charges 0.18%/yr vs 0.34%/yr for GHYB.
Performance
IGEB vs. GHYB - Performance Comparison
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Returns By Period
In the year-to-date period, IGEB achieves a 0.51% return, which is significantly lower than GHYB's 1.58% return.
IGEB
- 1D
- -0.17%
- 1M
- 0.59%
- YTD
- 0.51%
- 6M
- 0.74%
- 1Y
- 5.16%
- 3Y*
- 5.84%
- 5Y*
- 0.96%
- 10Y*
- —
GHYB
- 1D
- -0.05%
- 1M
- 0.60%
- YTD
- 1.58%
- 6M
- 1.78%
- 1Y
- 6.69%
- 3Y*
- 8.97%
- 5Y*
- 3.99%
- 10Y*
- —
IGEB vs. GHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGEB iShares Investment Grade Bond Factor ETF | 0.51% | 8.17% | 3.10% | 9.56% | -14.85% | -1.14% | 11.23% | 15.42% | -2.05% | -0.28% |
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 1.58% | 9.38% | 7.76% | 12.13% | -11.02% | 3.21% | 6.38% | 14.55% | -2.01% | 0.27% |
Correlation
The correlation between IGEB and GHYB is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2017 | 0.47 |
Over the past year, IGEB and GHYB have become more correlated (0.70) than their long-term average of 0.47, meaning their price movements have been converging.
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Return for Risk
IGEB vs. GHYB — Risk / Return Rank
IGEB
GHYB
IGEB vs. GHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Investment Grade Bond Factor ETF (IGEB) and Goldman Sachs Access High Yield Corporate Bond ETF (GHYB). 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.
| IGEB | GHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.37 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 2.51 | -0.71 |
| Martin ratioReturn relative to average drawdown | 5.73 | 11.43 | -5.70 |
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Drawdowns
IGEB vs. GHYB - Drawdown Comparison
The maximum IGEB drawdown since its inception was -21.13%, roughly equal to the maximum GHYB drawdown of -21.48%. Use the drawdown chart below to compare losses from any high point for IGEB and GHYB.
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Drawdown Indicators
| IGEB | GHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.13% | -21.48% | +0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -2.67% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -5.95% | -4.66% | -1.29% |
Max Drawdown (5Y)Largest decline over 5 years | -21.13% | -16.08% | -5.05% |
Current DrawdownCurrent decline from peak | -0.93% | -0.07% | -0.86% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -2.56% | -2.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 0.59% | +0.31% |
Volatility
IGEB vs. GHYB - Volatility Comparison
iShares Investment Grade Bond Factor ETF (IGEB) has a higher volatility of 1.17% compared to Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) at 0.93%. This indicates that IGEB's price experiences larger fluctuations and is considered to be riskier than GHYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGEB | GHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.93% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 3.17% | 2.78% | +0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 3.52% | +0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 7.70% | -1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.51% | 8.26% | -1.75% |
IGEB vs. GHYB - Expense Ratio Comparison
IGEB has a 0.18% expense ratio, which is lower than GHYB's 0.34% expense ratio.
Dividends
IGEB vs. GHYB - Dividend Comparison
IGEB's dividend yield for the trailing twelve months is around 5.06%, less than GHYB's 6.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 6.78% | 7.00% | 6.65% | 6.20% | 5.67% | 4.46% | 4.75% | 5.57% | 5.68% | 1.45% |
IGEB iShares Investment Grade Bond Factor ETF | 5.06% | 4.92% | 5.09% | 4.60% | 3.64% | 3.84% | 3.78% | 5.61% | 3.59% | 1.62% |
Frequently Asked Questions
IGEB and GHYB have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGEB has higher volatility (1.17%) compared to GHYB (0.93%). In terms of maximum drawdown, IGEB dropped -21.13% vs GHYB's -21.48%.
On 5-year performance, GHYB leads with 3.99% vs 0.96% for IGEB. On fees, IGEB is cheaper at 0.18% per year. On volatility, GHYB has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GHYB has performed better with a 3.99% return vs 0.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGEB is cheaper with a 0.18% expense ratio, compared with 0.34% for GHYB.
GHYB has the higher dividend yield at 6.78%, compared with 5.06% for IGEB.
IGEB is categorized as Corporate Bonds, while GHYB is High Yield Bonds. IGEB tracks BlackRock Investment Grade Enhanced Bond Index, while GHYB tracks FTSE Goldman Sachs High Yield Corporate Bond Index. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.18% for IGEB and 0.34% for GHYB.
GHYB currently has the higher Sharpe Ratio (1.91 vs 1.25), 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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