IYH vs. HYG
IYH (iShares U.S. Healthcare ETF) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both exchange-traded funds - IYH is a Health & Biotech Equities fund tracking the Dow Jones U.S. Health Care Index, while HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index. Both are passively managed. Over the past 10 years, IYH returned 9.63%/yr vs 5.03%/yr for HYG. A 0.51 correlation means they provide meaningful diversification when combined. IYH charges 0.43%/yr vs 0.49%/yr for HYG.
Performance
IYH vs. HYG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IYH achieves a -1.10% return, which is significantly lower than HYG's 1.78% return. Over the past 10 years, IYH has outperformed HYG with an annualized return of 9.63%, while HYG has yielded a comparatively lower 5.03% annualized return.
IYH
- 1D
- -0.46%
- 1M
- 5.37%
- YTD
- -1.10%
- 6M
- -1.60%
- 1Y
- 14.30%
- 3Y*
- 6.09%
- 5Y*
- 4.89%
- 10Y*
- 9.63%
HYG
- 1D
- 0.13%
- 1M
- 1.25%
- YTD
- 1.78%
- 6M
- 2.29%
- 1Y
- 6.95%
- 3Y*
- 8.47%
- 5Y*
- 3.83%
- 10Y*
- 5.03%
IYH vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYH iShares U.S. Healthcare ETF | -1.10% | 13.16% | 2.99% | 2.14% | -4.46% | 23.41% | 15.56% | 20.80% | 5.80% | 22.27% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.78% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
Correlation
The correlation between IYH and HYG is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2007 | 0.51 |
The correlation between IYH and HYG shifts across timeframes, from 0.39 (1 year) to 0.53 (10 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IYH vs. HYG — Risk / Return Rank
IYH
HYG
IYH vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Healthcare ETF (IYH) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
| IYH | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.35 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 2.98 | -1.63 |
| Martin ratioReturn relative to average drawdown | 3.21 | 13.11 | -9.89 |
Loading charts...
Drawdowns
IYH vs. HYG - Drawdown Comparison
The maximum IYH drawdown since its inception was -43.12%, which is greater than HYG's maximum drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for IYH and HYG.
Loading charts...
Drawdown Indicators
| IYH | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.12% | -34.25% | -8.87% |
Max Drawdown (1Y)Largest decline over 1 year | -10.64% | -2.34% | -8.30% |
Max Drawdown (3Y)Largest decline over 3 years | -17.91% | -4.56% | -13.35% |
Max Drawdown (5Y)Largest decline over 5 years | -17.91% | -15.79% | -2.12% |
Max Drawdown (10Y)Largest decline over 10 years | -28.40% | -22.03% | -6.37% |
Current DrawdownCurrent decline from peak | -4.38% | 0.00% | -4.38% |
Average DrawdownAverage peak-to-trough decline | -8.96% | -3.24% | -5.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 0.53% | +3.93% |
Volatility
IYH vs. HYG - Volatility Comparison
iShares U.S. Healthcare ETF (IYH) has a higher volatility of 4.97% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 1.31%. This indicates that IYH's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IYH | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | 1.31% | +3.66% |
Volatility (6M)Calculated over the trailing 6-month period | 10.61% | 3.08% | +7.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.11% | 3.87% | +11.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.97% | 7.53% | +7.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.75% | 8.29% | +8.46% |
IYH vs. HYG - Expense Ratio Comparison
IYH has a 0.43% expense ratio, which is lower than HYG's 0.49% expense ratio.
Dividends
IYH vs. HYG - Dividend Comparison
IYH's dividend yield for the trailing twelve months is around 1.51%, less than HYG's 5.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.89% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
IYH iShares U.S. Healthcare ETF | 1.51% | 1.19% | 1.25% | 1.18% | 1.10% | 0.94% | 1.16% | 1.14% | 1.95% | 1.10% | 1.29% | 2.02% |
Frequently Asked Questions
IYH and HYG have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYH has higher volatility (4.97%) compared to HYG (1.31%). In terms of maximum drawdown, IYH dropped -43.12% vs HYG's -34.25%.
On 10-year performance, IYH leads with 9.63% vs 5.03% for HYG. On fees, IYH is cheaper at 0.43% per year. On volatility, HYG has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYH has performed better with a 9.63% return vs 5.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYH is cheaper with a 0.43% expense ratio, compared with 0.49% for HYG.
HYG has the higher dividend yield at 5.89%, compared with 1.51% for IYH.
IYH is categorized as Health & Biotech Equities, while HYG is High Yield Bonds. IYH tracks Dow Jones U.S. Health Care Index, while HYG tracks Markit iBoxx USD Liquid High Yield Index. Their fees differ too: 0.43% for IYH and 0.49% for HYG.
HYG currently has the higher Sharpe Ratio (1.81 vs 0.95), 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.
Find the right allocation for IYH and HYG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer