IHCB.AX vs. BANK.AX
IHCB.AX (iShares Core Global Corporate Bond (AUD Hedged) ETF) and BANK.AX (Global X Australian Bank Credit ETF) are both Corporate Bonds funds - IHCB.AX tracks the iShares Core Global Corporate Bond (AUD Hedged) Index while BANK.AX tracks the Solactive Australian Bank Credit Index. Both are passively managed. Over the past year, IHCB.AX returned 3.71% vs 4.33% for BANK.AX. At a 0.21 correlation, their price movements are largely independent.
Performance
IHCB.AX vs. BANK.AX - Performance Comparison
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Returns By Period
In the year-to-date period, IHCB.AX achieves a 0.35% return, which is significantly lower than BANK.AX's 2.36% return.
IHCB.AX
- 1D
- 0.10%
- 1M
- -0.62%
- 6M
- 0.19%
- YTD
- 0.35%
- 1Y
- 3.71%
- 3Y*
- 4.52%
- 5Y*
- -0.68%
- 10Y*
- 1.31%
BANK.AX
- 1D
- 0.10%
- 1M
- 0.71%
- 6M
- 2.05%
- YTD
- 2.36%
- 1Y
- 4.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IHCB.AX vs. BANK.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IHCB.AX iShares Core Global Corporate Bond (AUD Hedged) ETF | 0.35% | 6.31% | 1.65% |
BANK.AX Global X Australian Bank Credit ETF | 2.36% | 4.39% | 2.23% |
Correlation
The correlation between IHCB.AX and BANK.AX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jul 22, 2024 | 0.21 |
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Return for Risk
IHCB.AX vs. BANK.AX — Risk / Return Rank
IHCB.AX
BANK.AX
IHCB.AX vs. BANK.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Global Corporate Bond (AUD Hedged) ETF (IHCB.AX) and Global X Australian Bank Credit ETF (BANK.AX). 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.
| IHCB.AX | BANK.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.43 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 3.83 | -2.55 |
| Martin ratioReturn relative to average drawdown | 3.95 | 12.35 | -8.39 |
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Drawdowns
IHCB.AX vs. BANK.AX - Drawdown Comparison
The maximum IHCB.AX drawdown since its inception was -21.96%, which is greater than BANK.AX's maximum drawdown of -1.60%. Use the drawdown chart below to compare losses from any high point for IHCB.AX and BANK.AX.
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Drawdown Indicators
| IHCB.AX | BANK.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.96% | -1.60% | -20.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -1.10% | -1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -5.96% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.96% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.96% | — | — |
Current DrawdownCurrent decline from peak | -4.16% | -0.20% | -3.96% |
Average DrawdownAverage peak-to-trough decline | -5.67% | -0.19% | -5.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 0.35% | +0.55% |
Volatility
IHCB.AX vs. BANK.AX - Volatility Comparison
iShares Core Global Corporate Bond (AUD Hedged) ETF (IHCB.AX) has a higher volatility of 0.88% compared to Global X Australian Bank Credit ETF (BANK.AX) at 0.48%. This indicates that IHCB.AX's price experiences larger fluctuations and is considered to be riskier than BANK.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IHCB.AX | BANK.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 0.48% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.56% | 1.48% | +2.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.19% | 2.06% | +2.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.42% | 2.45% | +4.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.48% | 2.45% | +6.03% |
Dividends
IHCB.AX vs. BANK.AX - Dividend Comparison
IHCB.AX's dividend yield for the trailing twelve months is around 4.24%, less than BANK.AX's 5.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BANK.AX Global X Australian Bank Credit ETF | 5.10% | 5.31% | 1.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IHCB.AX iShares Core Global Corporate Bond (AUD Hedged) ETF | 4.24% | 4.46% | 4.47% | 3.22% | 1.19% | 3.35% | 2.49% | 1.40% | 1.77% | 3.91% | 0.45% |
Frequently Asked Questions
IHCB.AX and BANK.AX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHCB.AX tracks iShares Core Global Corporate Bond (AUD Hedged) Index, while BANK.AX tracks Solactive Australian Bank Credit Index. They also come from different issuers: iShares and Global X.
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