IGHG vs. IGBH
IGHG (ProShares Investment Grade-Interest Rate Hedged) and IGBH (iShares Interest Rate Hedged Long-Term Corporate Bond ETF) are both Corporate Bonds funds - IGHG tracks the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index while IGBH tracks the BlackRock Interest Rate Hedged Long-Term Corporate Bond Index. Both are passively managed. Over the past 10 years, IGHG returned 4.83%/yr vs 5.07%/yr for IGBH. At a 0.47 correlation, their price movements are largely independent. IGHG charges 0.30%/yr vs 0.16%/yr for IGBH.
Performance
IGHG vs. IGBH - Performance Comparison
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Returns By Period
In the year-to-date period, IGHG achieves a 2.08% return, which is significantly lower than IGBH's 2.48% return. Both investments have delivered pretty close results over the past 10 years, with IGHG having a 4.83% annualized return and IGBH not far ahead at 5.07%.
IGHG
- 1D
- 0.08%
- 1M
- -0.02%
- YTD
- 2.08%
- 6M
- 2.05%
- 1Y
- 5.77%
- 3Y*
- 8.31%
- 5Y*
- 5.18%
- 10Y*
- 4.83%
IGBH
- 1D
- 0.24%
- 1M
- 0.37%
- YTD
- 2.48%
- 6M
- 2.81%
- 1Y
- 8.91%
- 3Y*
- 8.60%
- 5Y*
- 5.41%
- 10Y*
- 5.07%
IGHG vs. IGBH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 2.08% | 5.65% | 9.20% | 11.58% | -0.90% | 0.88% | 0.61% | 12.73% | -3.96% | 4.49% |
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 2.48% | 7.90% | 7.80% | 12.12% | -2.82% | 2.20% | 1.09% | 9.62% | -4.54% | 9.36% |
Correlation
The correlation between IGHG and IGBH is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2015 | 0.47 |
The correlation between IGHG and IGBH shifts across timeframes, from 0.47 (all time) to 0.68 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGHG vs. IGBH — Risk / Return Rank
IGHG
IGBH
IGHG vs. IGBH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Investment Grade-Interest Rate Hedged (IGHG) and iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH). 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.
| IGHG | IGBH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.43 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 2.11 | +1.20 |
| Martin ratioReturn relative to average drawdown | 11.69 | 7.75 | +3.93 |
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Drawdowns
IGHG vs. IGBH - Drawdown Comparison
The maximum IGHG drawdown since its inception was -25.16%, smaller than the maximum IGBH drawdown of -33.67%. Use the drawdown chart below to compare losses from any high point for IGHG and IGBH.
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Drawdown Indicators
| IGHG | IGBH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.16% | -33.67% | +8.51% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -4.24% | +2.49% |
Max Drawdown (3Y)Largest decline over 3 years | -3.74% | -6.93% | +3.19% |
Max Drawdown (5Y)Largest decline over 5 years | -8.75% | -10.48% | +1.73% |
Max Drawdown (10Y)Largest decline over 10 years | -25.16% | -33.67% | +8.51% |
Current DrawdownCurrent decline from peak | -0.25% | -0.20% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -2.29% | -2.65% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 1.15% | -0.66% |
Volatility
IGHG vs. IGBH - Volatility Comparison
The current volatility for ProShares Investment Grade-Interest Rate Hedged (IGHG) is 0.63%, while iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) has a volatility of 0.69%. This indicates that IGHG experiences smaller price fluctuations and is considered to be less risky than IGBH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGHG | IGBH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.69% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.48% | 3.14% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.41% | 4.04% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 6.05% | -1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.46% | 9.21% | -1.75% |
IGHG vs. IGBH - Expense Ratio Comparison
IGHG has a 0.30% expense ratio, which is higher than IGBH's 0.16% expense ratio.
Dividends
IGHG vs. IGBH - Dividend Comparison
IGHG's dividend yield for the trailing twelve months is around 5.12%, less than IGBH's 5.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 5.65% | 6.23% | 6.88% | 7.32% | 3.84% | 2.71% | 2.39% | 3.40% | 5.56% | 2.87% | 2.62% | 1.12% |
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.12% | 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
IGHG and IGBH have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGBH has higher volatility (0.69%) compared to IGHG (0.63%). In terms of maximum drawdown, IGHG dropped -25.16% vs IGBH's -33.67%.
On 10-year performance, IGBH leads with 5.07% vs 4.83% for IGHG. On fees, IGBH is cheaper at 0.16% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGBH has performed better with a 5.07% return vs 4.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGBH is cheaper with a 0.16% expense ratio, compared with 0.30% for IGHG.
IGBH has the higher dividend yield at 5.65%, compared with 5.12% for IGHG.
IGHG tracks Citi Corporate Investment Grade (Treasury Rate-Hedged) Index, while IGBH tracks BlackRock Interest Rate Hedged Long-Term Corporate Bond Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.30% for IGHG and 0.16% for IGBH.
IGBH currently has the higher Sharpe Ratio (2.22 vs 1.70), 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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