IHCB.AX vs. CRED.AX

Last updated Jul 18, 2026

IHCB.AX (iShares Core Global Corporate Bond (AUD Hedged) ETF) and CRED.AX (Betashares Australian Investment Grade Corporate Bond ETF) are both Corporate Bonds funds - IHCB.AX tracks the iShares Core Global Corporate Bond (AUD Hedged) Index while CRED.AX tracks the Solactive Australian Investment Grade Corporate Bond Select TR Index. Both are passively managed. Over the past 5 years, IHCB.AX returned -0.65%/yr vs 0.47%/yr for CRED.AX. At a 0.49 correlation, their price movements are largely independent.

Performance

IHCB.AX vs. CRED.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in iShares Core Global Corporate Bond (AUD Hedged) ETF (IHCB.AX) and Betashares Australian Investment Grade Corporate Bond ETF (CRED.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IHCB.AX achieves a 0.48% return, which is significantly lower than CRED.AX's 0.80% return.

IHCB.AX

• 1D: 0.13%
• 1M: -0.18%
• 6M: 0.29%
• YTD: 0.48%
• 1Y: 3.78%
• 3Y*: 4.52%
• 5Y*: -0.65%
• 10Y*: 1.27%

CRED.AX

• 1D: 0.00%
• 1M: -0.14%
• 6M: -0.06%
• YTD: 0.80%
• 1Y: 0.82%
• 3Y*: 5.71%
• 5Y*: 0.47%
• 10Y*: —

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

IHCB.AX vs. CRED.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IHCB.AX iShares Core Global Corporate Bond (AUD Hedged) ETF	0.48%	6.31%	2.34%	6.23%	-15.93%	-1.45%	5.96%	10.36%	0.30%
CRED.AX Betashares Australian Investment Grade Corporate Bond ETF	0.80%	4.54%	6.26%	10.78%	-14.47%	-3.35%	7.78%	11.29%	3.70%

Correlation

The correlation between IHCB.AX and CRED.AX is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since May 31, 2018	0.49

The correlation between IHCB.AX and CRED.AX shifts across timeframes, from 0.49 (all time) to 0.60 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

IHCB.AX vs. CRED.AX — Risk / Return Rank

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

IHCB.AX

IHCB.AX Risk / Return Rank: 32
IHCB.AX Sharpe Ratio Rank: 32
IHCB.AX Sortino Ratio Rank: 30
IHCB.AX Omega Ratio Rank: 29
IHCB.AX Calmar Ratio Rank: 34
IHCB.AX Martin Ratio Rank: 36

CRED.AX

CRED.AX Risk / Return Rank: 12
CRED.AX Sharpe Ratio Rank: 13
CRED.AX Sortino Ratio Rank: 12
CRED.AX Omega Ratio Rank: 12
CRED.AX Calmar Ratio Rank: 12
CRED.AX Martin Ratio Rank: 12

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.

IHCB.AX vs. CRED.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 Betashares Australian Investment Grade Corporate Bond ETF (CRED.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	CRED.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.88	0.18	+0.70
Sortino ratio: Return per unit of downside risk	1.28	0.28	+0.99
Omega ratio: Gain probability vs. loss probability	1.16	1.03	+0.12
Calmar ratio: Return relative to maximum drawdown	1.34	0.14	+1.20
Martin ratio: Return relative to average drawdown	4.13	0.28	+3.86

IHCB.AX vs. CRED.AX - Sharpe Ratio Comparison

The current IHCB.AX Sharpe Ratio is 0.88, which is higher than the CRED.AX Sharpe Ratio of 0.18. The chart below compares the historical Sharpe Ratios of IHCB.AX and CRED.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IHCB.AX vs. CRED.AX - Drawdown Comparison

The maximum IHCB.AX drawdown since its inception was -21.96%, roughly equal to the maximum CRED.AX drawdown of -21.76%. Use the drawdown chart below to compare losses from any high point for IHCB.AX and CRED.AX.

Drawdown Indicators

	IHCB.AX	CRED.AX	Difference
Max Drawdown Largest peak-to-trough decline	-21.96%	-21.76%	-0.20%
Max Drawdown (1Y) Largest decline over 1 year	-2.75%	-5.54%	+2.79%
Max Drawdown (3Y) Largest decline over 3 years	-5.96%	-5.54%	-0.42%
Max Drawdown (5Y) Largest decline over 5 years	-21.96%	-21.76%	-0.20%
Max Drawdown (10Y) Largest decline over 10 years	-21.96%	—	—
Current Drawdown Current decline from peak	-4.03%	-2.41%	-1.62%
Average Drawdown Average peak-to-trough decline	-5.66%	-5.72%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	2.87%	-1.97%

Volatility

IHCB.AX vs. CRED.AX - Volatility Comparison

iShares Core Global Corporate Bond (AUD Hedged) ETF (IHCB.AX) and Betashares Australian Investment Grade Corporate Bond ETF (CRED.AX) have volatilities of 0.86% and 0.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHCB.AX	CRED.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	0.89%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	3.56%	3.70%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	4.19%	4.46%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.41%	6.36%	+1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.48%	6.21%	+2.27%

Dividends

IHCB.AX vs. CRED.AX - Dividend Comparison

IHCB.AX's dividend yield for the trailing twelve months is around 4.23%, more than CRED.AX's 3.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CRED.AX Betashares Australian Investment Grade Corporate Bond ETF	3.93%	4.49%	4.01%	4.53%	3.53%	5.14%	4.29%	3.35%	1.82%	0.00%	0.00%
IHCB.AX iShares Core Global Corporate Bond (AUD Hedged) ETF	4.23%	4.46%	4.47%	3.22%	1.19%	3.35%	2.49%	1.40%	1.77%	3.91%	0.45%

Frequently Asked Questions

Can I hold both IHCB.AX and CRED.AX in my portfolio?

IHCB.AX and CRED.AX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between IHCB.AX and CRED.AX?

IHCB.AX tracks iShares Core Global Corporate Bond (AUD Hedged) Index, while CRED.AX tracks Solactive Australian Investment Grade Corporate Bond Select TR Index. They also come from different issuers: iShares and BetaShares.