IUSB vs. BYLD
Compare and contrast key facts about iShares Core Universal USD Bond ETF (IUSB) and iShares Yield Optimized Bond ETF (BYLD).
IUSB and BYLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IUSB is a passively managed fund by iShares that tracks the performance of the Bloomberg U.S. Universal Index. It was launched on Jun 10, 2014. BYLD is a passively managed fund by iShares that tracks the performance of the Morningstar U.S. Bond Market Yield-Optimized Index. It was launched on Apr 22, 2014. Both IUSB and BYLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IUSB vs. BYLD - Performance Comparison
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IUSB vs. BYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSB iShares Core Universal USD Bond ETF | 0.07% | 7.38% | 2.11% | 6.23% | -13.04% | -1.33% | 7.62% | 9.13% | -0.27% | 3.82% |
BYLD iShares Yield Optimized Bond ETF | 0.02% | 8.41% | 4.17% | 8.30% | -10.33% | -1.25% | 4.25% | 12.79% | -1.50% | 4.75% |
Returns By Period
In the year-to-date period, IUSB achieves a 0.07% return, which is significantly higher than BYLD's 0.02% return. Over the past 10 years, IUSB has underperformed BYLD with an annualized return of 2.08%, while BYLD has yielded a comparatively higher 3.03% annualized return.
IUSB
- 1D
- 0.14%
- 1M
- -1.29%
- YTD
- 0.07%
- 6M
- 0.88%
- 1Y
- 4.42%
- 3Y*
- 4.12%
- 5Y*
- 0.56%
- 10Y*
- 2.08%
BYLD
- 1D
- 0.22%
- 1M
- -1.20%
- YTD
- 0.02%
- 6M
- 1.02%
- 1Y
- 5.97%
- 3Y*
- 6.12%
- 5Y*
- 2.20%
- 10Y*
- 3.03%
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IUSB vs. BYLD - Expense Ratio Comparison
IUSB has a 0.06% expense ratio, which is lower than BYLD's 0.17% 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%.
Return for Risk
IUSB vs. BYLD — Risk / Return Rank
IUSB
BYLD
IUSB vs. BYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Universal USD Bond ETF (IUSB) and iShares Yield Optimized Bond ETF (BYLD). 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.
| IUSB | BYLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.08 | 1.30 | -0.22 |
Sortino ratioReturn per unit of downside risk | 1.52 | 1.83 | -0.31 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.26 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.89 | 2.28 | -0.39 |
Martin ratioReturn relative to average drawdown | 5.81 | 8.29 | -2.48 |
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
| IUSB | BYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 1.30 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.43 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.56 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.56 | -0.10 |
Correlation
The correlation between IUSB and BYLD is 0.69, 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.
Dividends
IUSB vs. BYLD - Dividend Comparison
IUSB's dividend yield for the trailing twelve months is around 4.24%, less than BYLD's 5.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUSB iShares Core Universal USD Bond ETF | 4.24% | 4.17% | 4.04% | 3.46% | 2.53% | 1.74% | 2.68% | 3.04% | 2.98% | 2.56% | 2.60% | 1.95% |
BYLD iShares Yield Optimized Bond ETF | 5.35% | 5.32% | 5.31% | 4.45% | 3.39% | 2.18% | 3.41% | 3.67% | 4.22% | 3.22% | 3.14% | 3.37% |
Drawdowns
IUSB vs. BYLD - Drawdown Comparison
The maximum IUSB drawdown since its inception was -17.90%, which is greater than BYLD's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for IUSB and BYLD.
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Drawdown Indicators
| IUSB | BYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.90% | -14.75% | -3.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -2.72% | +0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | -14.65% | -3.22% |
Max Drawdown (10Y)Largest decline over 10 years | -17.90% | -14.75% | -3.15% |
Current DrawdownCurrent decline from peak | -1.67% | -1.54% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -3.62% | -2.54% | -1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 0.75% | +0.06% |
Volatility
IUSB vs. BYLD - Volatility Comparison
The current volatility for iShares Core Universal USD Bond ETF (IUSB) is 1.63%, while iShares Yield Optimized Bond ETF (BYLD) has a volatility of 2.00%. This indicates that IUSB experiences smaller price fluctuations and is considered to be less risky than BYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSB | BYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 2.00% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 2.41% | 2.71% | -0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.13% | 4.61% | -0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.77% | 5.16% | +0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.03% | 5.43% | -0.40% |