IIGD vs. IGBH
IIGD (Invesco Investment Grade Defensive ETF) and IGBH (iShares Interest Rate Hedged Long-Term Corporate Bond ETF) are both Corporate Bonds funds - IIGD tracks the Invesco Investment Grade Defensive Index while IGBH tracks the BlackRock Interest Rate Hedged Long-Term Corporate Bond Index. Both are passively managed. Over the past 5 years, IIGD returned 1.63%/yr vs 5.27%/yr for IGBH. At a 0.15 correlation, their price movements are largely independent. IIGD charges 0.13%/yr vs 0.16%/yr for IGBH.
Performance
IIGD vs. IGBH - Performance Comparison
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Returns By Period
In the year-to-date period, IIGD achieves a 0.25% return, which is significantly lower than IGBH's 2.31% return.
IIGD
- 1D
- -0.10%
- 1M
- 0.05%
- YTD
- 0.25%
- 6M
- 0.49%
- 1Y
- 4.13%
- 3Y*
- 5.07%
- 5Y*
- 1.63%
- 10Y*
- —
IGBH
- 1D
- -0.12%
- 1M
- 1.78%
- YTD
- 2.31%
- 6M
- 3.18%
- 1Y
- 9.39%
- 3Y*
- 8.96%
- 5Y*
- 5.27%
- 10Y*
- 5.04%
IIGD vs. IGBH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IIGD Invesco Investment Grade Defensive ETF | 0.25% | 7.11% | 3.90% | 5.71% | -7.27% | -1.42% | 6.30% | 7.40% | 0.86% |
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 2.31% | 7.90% | 7.80% | 12.12% | -2.82% | 2.20% | 1.09% | 9.62% | -4.78% |
Correlation
The correlation between IIGD and IGBH 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 (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2018 | 0.15 |
The correlation between IIGD and IGBH shifts across timeframes, from 0.15 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IIGD vs. IGBH — Risk / Return Rank
IIGD
IGBH
IIGD vs. IGBH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Investment Grade Defensive ETF (IIGD) and iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH). 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.
| IIGD | IGBH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.45 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | 2.22 | +0.26 |
| Martin ratioReturn relative to average drawdown | 8.72 | 8.15 | +0.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IIGD | IGBH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.81 | 2.33 | -0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.86 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.52 | +0.25 |
Drawdowns
IIGD vs. IGBH - Drawdown Comparison
The maximum IIGD drawdown since its inception was -11.43%, smaller than the maximum IGBH drawdown of -33.67%. Use the drawdown chart below to compare losses from any high point for IIGD and IGBH.
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Drawdown Indicators
| IIGD | IGBH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.43% | -33.67% | +22.24% |
Max Drawdown (1Y)Largest decline over 1 year | -1.67% | -4.24% | +2.57% |
Max Drawdown (3Y)Largest decline over 3 years | -2.14% | -6.93% | +4.79% |
Max Drawdown (5Y)Largest decline over 5 years | -11.43% | -10.48% | -0.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.67% | — |
Current DrawdownCurrent decline from peak | -0.80% | -0.19% | -0.61% |
Average DrawdownAverage peak-to-trough decline | -2.42% | -2.67% | +0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 1.15% | -0.68% |
Volatility
IIGD vs. IGBH - Volatility Comparison
The current volatility for Invesco Investment Grade Defensive ETF (IIGD) is 0.75%, while iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) has a volatility of 0.87%. This indicates that IIGD experiences smaller price fluctuations and is considered to be less risky than IGBH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IIGD | IGBH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 0.87% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 3.14% | -1.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.29% | 4.05% | -1.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.66% | 6.13% | -2.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.70% | 9.20% | -5.50% |
IIGD vs. IGBH - Expense Ratio Comparison
IIGD has a 0.13% expense ratio, which is lower than IGBH's 0.16% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IIGD vs. IGBH - Dividend Comparison
IIGD's dividend yield for the trailing twelve months is around 4.28%, less than IGBH's 5.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 5.66% | 6.23% | 6.88% | 7.32% | 3.84% | 2.71% | 2.39% | 3.40% | 5.56% | 2.87% | 2.62% | 1.12% |
IIGD Invesco Investment Grade Defensive ETF | 4.28% | 4.25% | 4.13% | 3.74% | 1.73% | 1.77% | 3.21% | 2.44% | 1.23% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IIGD and IGBH 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.
IGBH has higher volatility (0.87%) compared to IIGD (0.75%). In terms of maximum drawdown, IIGD dropped -11.43% vs IGBH's -33.67%.
On 5-year performance, IGBH leads with 5.27% vs 1.63% for IIGD. On fees, IIGD is cheaper at 0.13% per year. On volatility, IIGD has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IGBH has performed better with a 5.27% return vs 1.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IIGD is cheaper with a 0.13% expense ratio, compared with 0.16% for IGBH.
IGBH has the higher dividend yield at 5.66%, compared with 4.28% for IIGD.
IIGD tracks Invesco Investment Grade Defensive Index, while IGBH tracks BlackRock Interest Rate Hedged Long-Term Corporate Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.13% for IIGD and 0.16% for IGBH.
IGBH currently has the higher Sharpe Ratio (2.33 vs 1.81), 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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