IGHG vs. IGBH
Compare and contrast key facts about ProShares Investment Grade-Interest Rate Hedged (IGHG) and iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH).
IGHG and IGBH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IGHG is a passively managed fund by ProShares that tracks the performance of the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. It was launched on Nov 5, 2013. IGBH is a passively managed fund by iShares that tracks the performance of the BlackRock Interest Rate Hedged Long-Term Corporate Bond Index. It was launched on Jul 22, 2015. Both IGHG and IGBH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IGHG or IGBH.
Key characteristics
| IGHG | IGBH | |
|---|---|---|
| YTD Return | 8.22% | 7.09% |
| 1Y Return | 10.48% | 9.47% |
| 3Y Return (Ann) | 6.00% | 4.96% |
| 5Y Return (Ann) | 4.57% | 4.67% |
| Sharpe Ratio | 2.52 | 2.41 |
| Sortino Ratio | 3.60 | 3.36 |
| Omega Ratio | 1.51 | 1.49 |
| Calmar Ratio | 4.03 | 3.25 |
| Martin Ratio | 19.43 | 13.84 |
| Ulcer Index | 0.55% | 0.71% |
| Daily Std Dev | 4.21% | 4.10% |
| Max Drawdown | -25.16% | -33.67% |
| Current Drawdown | -0.24% | -0.75% |
Correlation
The correlation between IGHG and IGBH is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
IGHG vs. IGBH - Performance Comparison
In the year-to-date period, IGHG achieves a 8.22% return, which is significantly higher than IGBH's 7.09% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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IGHG vs. IGBH - Expense Ratio Comparison
IGHG has a 0.30% expense ratio, which is higher than IGBH's 0.16% expense ratio.
Risk-Adjusted Performance
IGHG vs. IGBH - Risk-Adjusted Performance 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.
Dividends
IGHG vs. IGBH - Dividend Comparison
IGHG's dividend yield for the trailing twelve months is around 5.08%, less than IGBH's 7.27% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.08% | 4.99% | 3.55% | 2.50% | 2.78% | 3.48% | 4.13% | 3.36% | 3.37% | 3.64% | 3.59% | 0.55% |
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 7.27% | 7.32% | 3.84% | 2.71% | 2.39% | 3.39% | 6.06% | 2.88% | 2.63% | 1.12% | 0.00% | 0.00% |
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. For additional features, visit the drawdowns tool.
Volatility
IGHG vs. IGBH - Volatility Comparison
ProShares Investment Grade-Interest Rate Hedged (IGHG) has a higher volatility of 1.90% compared to iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) at 1.19%. This indicates that IGHG's price experiences larger fluctuations and is considered to be riskier than IGBH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.