IHY vs. HODL
IHY (VanEck Vectors International High Yield Bond ETF) and HODL (VanEck Bitcoin Trust) are both exchange-traded funds - IHY is a High Yield Bonds fund tracking the Bank of America Merrill Lynch Global Ex-‐US Issuers High Yield Constrained Index, while HODL is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, IHY returned 4.89% vs -43.43% for HODL. At a 0.29 correlation, their price movements are largely independent. IHY charges 0.40%/yr vs 0.25%/yr for HODL.
Performance
IHY vs. HODL - Performance Comparison
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Returns By Period
In the year-to-date period, IHY achieves a 0.65% return, which is significantly higher than HODL's -31.58% return.
IHY
- 1D
- -0.18%
- 1M
- 0.01%
- YTD
- 0.65%
- 6M
- 0.37%
- 1Y
- 4.89%
- 3Y*
- 8.50%
- 5Y*
- 1.72%
- 10Y*
- 4.19%
HODL
- 1D
- -3.97%
- 1M
- -21.08%
- YTD
- -31.58%
- 6M
- -31.41%
- 1Y
- -43.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IHY vs. HODL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IHY VanEck Vectors International High Yield Bond ETF | 0.65% | 13.39% | 4.49% |
HODL VanEck Bitcoin Trust | -31.58% | -6.42% | 91.50% |
Correlation
The correlation between IHY and HODL is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.29 |
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Return for Risk
IHY vs. HODL — Risk / Return Rank
IHY
HODL
IHY vs. HODL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors International High Yield Bond ETF (IHY) and VanEck Bitcoin Trust (HODL). 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.
| IHY | HODL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.89 | ||
| Sortino ratioReturn per unit of downside risk | +2.83 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.84 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | -0.83 | +1.86 |
| Martin ratioReturn relative to average drawdown | 3.67 | -1.42 | +5.08 |
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Drawdowns
IHY vs. HODL - Drawdown Comparison
The maximum IHY drawdown since its inception was -27.63%, smaller than the maximum HODL drawdown of -52.32%. Use the drawdown chart below to compare losses from any high point for IHY and HODL.
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Drawdown Indicators
| IHY | HODL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.63% | -52.32% | +24.69% |
Max Drawdown (1Y)Largest decline over 1 year | -4.75% | -52.32% | +47.57% |
Max Drawdown (3Y)Largest decline over 3 years | -4.75% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.91% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.63% | — | — |
Current DrawdownCurrent decline from peak | -1.41% | -52.32% | +50.91% |
Average DrawdownAverage peak-to-trough decline | -5.26% | -16.84% | +11.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 30.66% | -29.32% |
Volatility
IHY vs. HODL - Volatility Comparison
The current volatility for VanEck Vectors International High Yield Bond ETF (IHY) is 1.46%, while VanEck Bitcoin Trust (HODL) has a volatility of 13.35%. This indicates that IHY experiences smaller price fluctuations and is considered to be less risky than HODL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IHY | HODL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 13.35% | -11.89% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 34.55% | -30.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.42% | 44.27% | -38.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.75% | 49.92% | -42.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.65% | 49.92% | -42.27% |
IHY vs. HODL - Expense Ratio Comparison
IHY has a 0.40% expense ratio, which is higher than HODL's 0.25% expense ratio.
Dividends
IHY vs. HODL - Dividend Comparison
IHY's dividend yield for the trailing twelve months is around 5.71%, while HODL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HODL VanEck Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IHY VanEck Vectors International High Yield Bond ETF | 5.71% | 5.31% | 5.60% | 5.26% | 4.97% | 4.55% | 4.65% | 4.86% | 4.70% | 4.36% | 5.11% | 5.79% |
Frequently Asked Questions
IHY and HODL have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HODL has higher volatility (13.35%) compared to IHY (1.46%). In terms of maximum drawdown, IHY dropped -27.63% vs HODL's -52.32%.
On 1-year performance, IHY leads with 4.89% vs -43.43% for HODL. On fees, HODL is cheaper at 0.25% per year. On volatility, IHY has been the lower-risk option at 1.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IHY has performed better with a 4.89% return vs -43.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HODL is cheaper with a 0.25% expense ratio, compared with 0.40% for IHY.
IHY has the higher dividend yield at 5.71%, compared with 0.00% for HODL.
IHY is categorized as High Yield Bonds, while HODL is Cryptocurrency. IHY tracks Bank of America Merrill Lynch Global Ex-‐US Issuers High Yield Constrained Index, while HODL tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.40% for IHY and 0.25% for HODL.
IHY currently has the higher Sharpe Ratio (0.91 vs -0.99), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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