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IHCB.AX vs. HBRD.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IHCB.AX vs. HBRD.AX

Last updated Jul 16, 2026
Documentation

IHCB.AX (iShares Core Global Corporate Bond (AUD Hedged) ETF) and HBRD.AX (Betashares Australian Credit Income Active ETF) are both Corporate Bonds funds. IHCB.AX is passively managed, while HBRD.AX is actively managed. Over the past 5 years, IHCB.AX returned -0.68%/yr vs 3.90%/yr for HBRD.AX. At a 0.05 correlation, their price movements are largely independent.

Performance

IHCB.AX vs. HBRD.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 Credit Income Active ETF (HBRD.AX). The values are adjusted to include any dividend payments, if applicable.

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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 HBRD.AX's 1.65% 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%

HBRD.AX

1D
0.00%
1M
0.60%
6M
1.59%
YTD
1.65%
1Y
3.94%
3Y*
5.18%
5Y*
3.90%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
IHCB.AX
iShares Core Global Corporate Bond (AUD Hedged) ETF		0.35%6.31%2.34%6.23%-15.93%-1.45%5.96%10.36%-2.80%0.45%
HBRD.AX
Betashares Australian Credit Income Active ETF		1.65%4.39%6.15%3.70%1.71%4.14%2.74%5.71%2.20%1.40%

Correlation

The correlation between IHCB.AX and HBRD.AX is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.06

Correlation (3Y)
Calculated over the trailing 3-year period

0.06

Correlation (5Y)
Calculated over the trailing 5-year period

0.07

Correlation (All Time)
Calculated using the full available price history since Nov 13, 2017

0.05

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iShares Core Global Corporate Bond (AUD Hedged) ETF

Betashares Australian Credit Income Active ETF

Return for Risk

IHCB.AX vs. HBRD.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: 2828
Overall Rank
IHCB.AX Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
IHCB.AX Sortino Ratio Rank: 2525
Sortino Ratio Rank
IHCB.AX Omega Ratio Rank: 2525
Omega Ratio Rank
IHCB.AX Calmar Ratio Rank: 3030
Calmar Ratio Rank
IHCB.AX Martin Ratio Rank: 3333
Martin Ratio Rank
HBRD.AX
HBRD.AX Risk / Return Rank: 9090
Overall Rank
HBRD.AX Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
HBRD.AX Sortino Ratio Rank: 8888
Sortino Ratio Rank
HBRD.AX Omega Ratio Rank: 9494
Omega Ratio Rank
HBRD.AX Calmar Ratio Rank: 9494
Calmar Ratio Rank
HBRD.AX Martin Ratio Rank: 8989
Martin Ratio Rank
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. HBRD.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 Credit Income Active ETF (HBRD.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.AXHBRD.AXDifference
Sharpe ratioReturn per unit of total volatility
0.84
2.24

-1.40

Sortino ratioReturn per unit of downside risk
1.22
3.27

-2.04

Omega ratioGain probability vs. loss probability

1.15

1.54

-0.39

Calmar ratioReturn relative to maximum drawdown

1.28

5.43

-4.15

Martin ratioReturn relative to average drawdown

3.95

15.99

-12.04

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

The current IHCB.AX Sharpe Ratio is 0.84, which is lower than the HBRD.AX Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of IHCB.AX and HBRD.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.

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Drawdowns

IHCB.AX vs. HBRD.AX - Drawdown Comparison

The maximum IHCB.AX drawdown since its inception was -21.96%, which is greater than HBRD.AX's maximum drawdown of -15.60%. Use the drawdown chart below to compare losses from any high point for IHCB.AX and HBRD.AX.

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Drawdown Indicators

IHCB.AXHBRD.AXDifference

Max Drawdown

Largest peak-to-trough decline

-21.96%

-15.60%

-6.36%

Max Drawdown (1Y)

Largest decline over 1 year

-2.75%

-0.69%

-2.06%

Max Drawdown (3Y)

Largest decline over 3 years

-5.96%

-1.02%

-4.94%

Max Drawdown (5Y)

Largest decline over 5 years

-21.96%

-4.65%

-17.31%

Max Drawdown (10Y)

Largest decline over 10 years

-21.96%

—

—

Current Drawdown

Current decline from peak

-4.16%

0.00%

-4.16%

Average Drawdown

Average peak-to-trough decline

-5.67%

-0.51%

-5.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.90%

0.24%

+0.66%

Volatility

IHCB.AX vs. HBRD.AX - Volatility Comparison

iShares Core Global Corporate Bond (AUD Hedged) ETF (IHCB.AX) has a higher volatility of 0.88% compared to Betashares Australian Credit Income Active ETF (HBRD.AX) at 0.33%. This indicates that IHCB.AX's price experiences larger fluctuations and is considered to be riskier than HBRD.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.AXHBRD.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.88%

0.33%

+0.55%

Volatility (6M)

Calculated over the trailing 6-month period

3.56%

1.21%

+2.35%

Volatility (1Y)

Calculated over the trailing 1-year period

4.19%

1.68%

+2.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.42%

2.29%

+5.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.48%

4.34%

+4.14%

Dividends

IHCB.AX vs. HBRD.AX - Dividend Comparison

IHCB.AX's dividend yield for the trailing twelve months is around 4.24%, more than HBRD.AX's 4.07% yield.

PositionTTM2025202420232022202120202019201820172016
HBRD.AX
Betashares Australian Credit Income Active ETF		4.07%4.98%4.85%4.78%2.83%2.48%2.85%3.45%3.56%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 HBRD.AX have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: iShares and BetaShares.

Portfolio Optimizer

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