IWB vs. USHY

Last updated Jun 9, 2026

IWB (iShares Russell 1000 ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both exchange-traded funds - IWB is a Large Cap Blend Equities fund tracking the Russell 1000 Index, while USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 5 years, IWB returned 12.59%/yr vs 4.16%/yr for USHY. A 0.71 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.

Performance

IWB vs. USHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 1000 ETF (IWB) and iShares Broad USD High Yield Corporate Bond ETF (USHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWB achieves a 8.46% return, which is significantly higher than USHY's 1.29% return.

IWB

• 1D: 0.26%
• 1M: 0.43%
• YTD: 8.46%
• 6M: 8.45%
• 1Y: 23.94%
• 3Y*: 21.07%
• 5Y*: 12.59%
• 10Y*: 14.97%

USHY

• 1D: 0.08%
• 1M: -0.14%
• YTD: 1.29%
• 6M: 1.85%
• 1Y: 6.84%
• 3Y*: 8.79%
• 5Y*: 4.16%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IWB vs. USHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWB iShares Russell 1000 ETF	8.46%	17.18%	24.32%	26.39%	-19.19%	26.32%	20.77%	31.06%	-4.90%	4.87%
USHY iShares Broad USD High Yield Corporate Bond ETF	1.29%	8.81%	8.45%	12.73%	-11.18%	5.02%	6.17%	14.24%	-2.41%	0.16%

Correlation

The correlation between IWB and USHY is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017	0.71

The correlation between IWB and USHY has been stable across timeframes, ranging from 0.69 to 0.78 - a consistent structural relationship.

IWB vs. USHY - Sectors Allocation Comparison

Sectors	IWB	USHY
Technology	36.6%	-
Financial Services	11.3%	-
Communication Services	10.4%	-
Consumer Cyclical	10.0%	-
Industrials	8.6%	-
Healthcare	8.6%	-
Consumer Defensive	4.5%	-
Energy	3.3%	99.2%
Utilities	2.5%	-
Real Estate	2.1%	0.8%
Basic Materials	1.9%	-

Return for Risk

IWB vs. USHY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IWB

IWB Risk / Return Rank: 66
IWB Sharpe Ratio Rank: 66
IWB Sortino Ratio Rank: 64
IWB Omega Ratio Rank: 66
IWB Calmar Ratio Rank: 60
IWB Martin Ratio Rank: 73

USHY

USHY Risk / Return Rank: 67
USHY Sharpe Ratio Rank: 62
USHY Sortino Ratio Rank: 69
USHY Omega Ratio Rank: 67
USHY Calmar Ratio Rank: 63
USHY Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IWB vs. USHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 ETF (IWB) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.

	IWB	USHY	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.88	+0.10
Sortino ratio: Return per unit of downside risk	2.68	2.81	-0.13
Omega ratio: Gain probability vs. loss probability	1.36	1.36	0.00
Calmar ratio: Return relative to maximum drawdown	2.71	2.83	-0.12
Martin ratio: Return relative to average drawdown	12.38	12.68	-0.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWB vs. USHY - Sharpe Ratio Comparison

The current IWB Sharpe Ratio is 1.98, which is comparable to the USHY Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of IWB and USHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IWB	USHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	1.88	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.57	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.58	-0.13

Drawdowns

IWB vs. USHY - Drawdown Comparison

The maximum IWB drawdown since its inception was -55.38%, which is greater than USHY's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for IWB and USHY.

Drawdown Indicators

	IWB	USHY	Difference
Max Drawdown Largest peak-to-trough decline	-55.38%	-22.44%	-32.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.86%	-2.43%	-6.43%
Max Drawdown (3Y) Largest decline over 3 years	-19.09%	-4.66%	-14.43%
Max Drawdown (5Y) Largest decline over 5 years	-25.20%	-15.56%	-9.64%
Max Drawdown (10Y) Largest decline over 10 years	-34.60%	—	—
Current Drawdown Current decline from peak	-2.58%	-0.41%	-2.17%
Average Drawdown Average peak-to-trough decline	-10.85%	-2.66%	-8.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	0.54%	+1.40%

Volatility

IWB vs. USHY - Volatility Comparison

iShares Russell 1000 ETF (IWB) has a higher volatility of 3.74% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.13%. This indicates that IWB's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWB	USHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	1.13%	+2.61%
Volatility (6M) Calculated over the trailing 6-month period	9.37%	2.95%	+6.42%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	3.67%	+8.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	7.34%	+9.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.16%	8.25%	+9.91%

IWB vs. USHY - Expense Ratio Comparison

Both IWB and USHY have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IWB vs. USHY - Dividend Comparison

IWB's dividend yield for the trailing twelve months is around 0.93%, less than USHY's 6.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWB iShares Russell 1000 ETF	0.93%	1.00%	1.14%	1.31%	1.56%	1.09%	1.37%	1.71%	2.06%	1.64%	1.89%	1.95%
USHY iShares Broad USD High Yield Corporate Bond ETF	6.93%	6.79%	6.89%	6.63%	6.08%	5.07%	5.30%	5.92%	6.30%	0.73%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IWB and USHY in my portfolio?

IWB and USHY have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWB or USHY?

IWB has higher volatility (3.74%) compared to USHY (1.13%). In terms of maximum drawdown, IWB dropped -55.38% vs USHY's -22.44%.

Which ETF is better, IWB or USHY?

On 5-year performance, IWB leads with 12.59% vs 4.16% for USHY. Both ETFs have the same 0.15% expense ratio. On volatility, USHY has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWB or USHY?

Over the 5-year period, IWB has performed better with a 12.59% return vs 4.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWB or USHY?

IWB and USHY have the same expense ratio: 0.15% per year.

Which ETF pays a higher dividend yield, IWB or USHY?

USHY has the higher dividend yield at 6.93%, compared with 0.93% for IWB.

What is the main difference between IWB and USHY?

IWB is categorized as Large Cap Blend Equities, while USHY is High Yield Bonds. IWB tracks Russell 1000 Index, while USHY tracks ICE BofA US High Yield Constrained Index.

Which has better risk-adjusted returns?

IWB currently has the higher Sharpe Ratio (1.98 vs 1.88), 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.