IHY vs. CWB
Compare and contrast key facts about VanEck Vectors International High Yield Bond ETF (IHY) and SPDR Bloomberg Barclays Convertible Securities ETF (CWB).
IHY and CWB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IHY is a passively managed fund by VanEck that tracks the performance of the Bank of America Merrill Lynch Global Ex-‐US Issuers High Yield Constrained Index. It was launched on Apr 2, 2012. CWB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Convertibles Liquid Bond. It was launched on Apr 14, 2009. Both IHY and CWB 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: IHY or CWB.
Key characteristics
| IHY | CWB | |
|---|---|---|
| YTD Return | 0.49% | 0.98% |
| 1Y Return | 10.35% | 11.10% |
| 3Y Return (Ann) | -2.62% | -1.78% |
| 5Y Return (Ann) | 1.74% | 9.45% |
| 10Y Return (Ann) | 2.00% | 8.49% |
| Sharpe Ratio | 1.48 | 1.36 |
| Daily Std Dev | 6.82% | 8.33% |
| Max Drawdown | -27.63% | -32.06% |
| Current Drawdown | -8.29% | -16.04% |
Correlation
The correlation between IHY and CWB is 0.41, 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
IHY vs. CWB - Performance Comparison
In the year-to-date period, IHY achieves a 0.49% return, which is significantly lower than CWB's 0.98% return. Over the past 10 years, IHY has underperformed CWB with an annualized return of 2.00%, while CWB has yielded a comparatively higher 8.49% annualized 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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IHY vs. CWB - Expense Ratio Comparison
Both IHY and CWB have an expense ratio of 0.40%.
Risk-Adjusted Performance
IHY vs. CWB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors International High Yield Bond ETF (IHY) and SPDR Bloomberg Barclays Convertible Securities ETF (CWB). 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
IHY vs. CWB - Dividend Comparison
IHY's dividend yield for the trailing twelve months is around 5.42%, more than CWB's 1.99% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHY VanEck Vectors International High Yield Bond ETF | 5.42% | 5.27% | 4.97% | 4.55% | 4.65% | 4.86% | 4.70% | 4.37% | 5.11% | 5.79% | 5.74% | 6.48% |
CWB SPDR Bloomberg Barclays Convertible Securities ETF | 1.99% | 1.97% | 2.21% | 1.97% | 2.34% | 3.03% | 6.17% | 4.25% | 4.60% | 7.52% | 7.37% | 3.66% |
Drawdowns
IHY vs. CWB - Drawdown Comparison
The maximum IHY drawdown since its inception was -27.63%, smaller than the maximum CWB drawdown of -32.06%. Use the drawdown chart below to compare losses from any high point for IHY and CWB. For additional features, visit the drawdowns tool.
Volatility
IHY vs. CWB - Volatility Comparison
The current volatility for VanEck Vectors International High Yield Bond ETF (IHY) is 1.48%, while SPDR Bloomberg Barclays Convertible Securities ETF (CWB) has a volatility of 2.64%. This indicates that IHY experiences smaller price fluctuations and is considered to be less risky than CWB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.