IHY vs. IBHG
IHY (VanEck Vectors International High Yield Bond ETF) and IBHG (iShares iBonds 2027 Term High Yield and Income ETF) are both High Yield Bonds funds - IHY tracks the Bank of America Merrill Lynch Global Ex-‐US Issuers High Yield Constrained Index while IBHG tracks the Bloomberg 2027 Term High Yield and Income Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, IHY returned 8.50%/yr vs 7.62%/yr for IBHG. A 0.61 correlation means they provide meaningful diversification when combined. IHY charges 0.40%/yr vs 0.35%/yr for IBHG.
Performance
IHY vs. IBHG - Performance Comparison
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Returns By Period
In the year-to-date period, IHY achieves a 0.65% return, which is significantly lower than IBHG's 1.15% 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%
IBHG
- 1D
- -0.02%
- 1M
- 0.00%
- YTD
- 1.15%
- 6M
- 1.42%
- 1Y
- 4.38%
- 3Y*
- 7.62%
- 5Y*
- —
- 10Y*
- —
IHY vs. IBHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IHY VanEck Vectors International High Yield Bond ETF | 0.65% | 13.39% | 3.55% | 12.11% | -14.34% | -3.82% |
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 1.15% | 6.90% | 7.42% | 11.27% | -8.88% | 0.93% |
Correlation
The correlation between IHY and IBHG is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2021 | 0.61 |
The correlation between IHY and IBHG shifts across timeframes, from 0.48 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IHY vs. IBHG — Risk / Return Rank
IHY
IBHG
IHY vs. IBHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors International High Yield Bond ETF (IHY) and iShares iBonds 2027 Term High Yield and Income ETF (IBHG). 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 | IBHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.40 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 6.06 | -5.03 |
| Martin ratioReturn relative to average drawdown | 3.67 | 22.04 | -18.38 |
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Drawdowns
IHY vs. IBHG - Drawdown Comparison
The maximum IHY drawdown since its inception was -27.63%, which is greater than IBHG's maximum drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for IHY and IBHG.
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Drawdown Indicators
| IHY | IBHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.63% | -13.85% | -13.78% |
Max Drawdown (1Y)Largest decline over 1 year | -4.75% | -0.73% | -4.02% |
Max Drawdown (3Y)Largest decline over 3 years | -4.75% | -3.39% | -1.36% |
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% | -0.04% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -5.26% | -2.64% | -2.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 0.20% | +1.14% |
Volatility
IHY vs. IBHG - Volatility Comparison
VanEck Vectors International High Yield Bond ETF (IHY) has a higher volatility of 1.46% compared to iShares iBonds 2027 Term High Yield and Income ETF (IBHG) at 0.40%. This indicates that IHY's price experiences larger fluctuations and is considered to be riskier than IBHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IHY | IBHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 0.40% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 1.51% | +2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.42% | 2.09% | +3.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.75% | 6.33% | +1.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.65% | 6.33% | +1.32% |
IHY vs. IBHG - Expense Ratio Comparison
IHY has a 0.40% expense ratio, which is higher than IBHG's 0.35% expense ratio.
Dividends
IHY vs. IBHG - Dividend Comparison
IHY's dividend yield for the trailing twelve months is around 5.71%, less than IBHG's 6.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 6.07% | 6.33% | 7.02% | 6.66% | 5.62% | 2.13% | 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 IBHG have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHY has higher volatility (1.46%) compared to IBHG (0.40%). In terms of maximum drawdown, IHY dropped -27.63% vs IBHG's -13.85%.
On 3-year performance, IHY leads with 8.50% vs 7.62% for IBHG. On fees, IBHG is cheaper at 0.35% per year. On volatility, IBHG has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IHY has performed better with a 8.50% return vs 7.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHG is cheaper with a 0.35% expense ratio, compared with 0.40% for IHY.
IBHG has the higher dividend yield at 6.07%, compared with 5.71% for IHY.
IHY tracks Bank of America Merrill Lynch Global Ex-‐US Issuers High Yield Constrained Index, while IBHG tracks Bloomberg 2027 Term High Yield and Income Index - Benchmark TR Gross. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for IHY and 0.35% for IBHG.
IBHG currently has the higher Sharpe Ratio (2.11 vs 0.91), 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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