JPHY vs. IBHJ

Last updated Jul 14, 2026

JPHY (JPMorgan High Yield Research Enhanced ETF) and IBHJ (iShares iBonds 2030 Term High Yield and Income ETF) are both High Yield Bonds funds. JPHY is actively managed, while IBHJ is passively managed. Over the past year, JPHY returned 5.98% vs 6.49% for IBHJ. Their correlation of 0.81 suggests significant overlap in exposure. JPHY charges 0.24%/yr vs 0.35%/yr for IBHJ.

Performance

JPHY vs. IBHJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan High Yield Research Enhanced ETF (JPHY) and iShares iBonds 2030 Term High Yield and Income ETF (IBHJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JPHY having a 2.22% return and IBHJ slightly lower at 2.12%.

JPHY

• 1D: -0.16%
• 1M: -0.00%
• 6M: 1.78%
• YTD: 2.22%
• 1Y: 5.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBHJ

• 1D: -0.02%
• 1M: 0.23%
• 6M: 1.82%
• YTD: 2.12%
• 1Y: 6.49%
• 3Y*: 8.43%
• 5Y*: —
• 10Y*: —

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

JPHY vs. IBHJ - Yearly Performance Comparison

	2026 (YTD)	2025
JPHY JPMorgan High Yield Research Enhanced ETF	2.22%	4.06%
IBHJ iShares iBonds 2030 Term High Yield and Income ETF	2.12%	4.52%

Correlation

The correlation between JPHY and IBHJ is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.81

The correlation between JPHY and IBHJ has been stable across timeframes, ranging from 0.81 to 0.81 - a consistent structural relationship.

Return for Risk

JPHY vs. IBHJ — Risk / Return Rank

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

JPHY

JPHY Risk / Return Rank: 85
JPHY Sharpe Ratio Rank: 79
JPHY Sortino Ratio Rank: 87
JPHY Omega Ratio Rank: 85
JPHY Calmar Ratio Rank: 84
JPHY Martin Ratio Rank: 91

IBHJ

IBHJ Risk / Return Rank: 66
IBHJ Sharpe Ratio Rank: 59
IBHJ Sortino Ratio Rank: 62
IBHJ Omega Ratio Rank: 62
IBHJ Calmar Ratio Rank: 67
IBHJ Martin Ratio Rank: 79

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.

JPHY vs. IBHJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan High Yield Research Enhanced ETF (JPHY) and iShares iBonds 2030 Term High Yield and Income ETF (IBHJ). 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.

	JPHY	IBHJ	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.58	+0.43
Sortino ratio: Return per unit of downside risk	3.15	2.31	+0.84
Omega ratio: Gain probability vs. loss probability	1.41	1.30	+0.11
Calmar ratio: Return relative to maximum drawdown	3.64	2.65	+0.98
Martin ratio: Return relative to average drawdown	16.80	11.90	+4.90

JPHY vs. IBHJ - Sharpe Ratio Comparison

The current JPHY Sharpe Ratio is 2.00, which is comparable to the IBHJ Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of JPHY and IBHJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JPHY vs. IBHJ - Drawdown Comparison

The maximum JPHY drawdown since its inception was -1.65%, smaller than the maximum IBHJ drawdown of -4.93%. Use the drawdown chart below to compare losses from any high point for JPHY and IBHJ.

Drawdown Indicators

	JPHY	IBHJ	Difference
Max Drawdown Largest peak-to-trough decline	-1.65%	-4.93%	+3.28%
Max Drawdown (1Y) Largest decline over 1 year	-1.65%	-2.46%	+0.81%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.93%	—
Current Drawdown Current decline from peak	-0.49%	-0.62%	+0.13%
Average Drawdown Average peak-to-trough decline	-0.21%	-0.61%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	0.55%	-0.19%

Volatility

JPHY vs. IBHJ - Volatility Comparison

The current volatility for JPMorgan High Yield Research Enhanced ETF (JPHY) is 0.67%, while iShares iBonds 2030 Term High Yield and Income ETF (IBHJ) has a volatility of 1.02%. This indicates that JPHY experiences smaller price fluctuations and is considered to be less risky than IBHJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPHY	IBHJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	1.02%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	2.33%	3.32%	-0.99%
Volatility (1Y) Calculated over the trailing 1-year period	3.00%	4.14%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.97%	5.88%	-2.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.97%	5.88%	-2.91%

JPHY vs. IBHJ - Expense Ratio Comparison

JPHY has a 0.24% expense ratio, which is lower than IBHJ's 0.35% expense ratio.

Dividends

JPHY vs. IBHJ - Dividend Comparison

JPHY's dividend yield for the trailing twelve months is around 6.48%, less than IBHJ's 6.67% yield.

Position	TTM	2025	2024	2023
IBHJ iShares iBonds 2030 Term High Yield and Income ETF	6.67%	6.64%	6.87%	3.66%
JPHY JPMorgan High Yield Research Enhanced ETF	6.48%	3.32%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPHY and IBHJ in my portfolio?

JPHY and IBHJ have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPHY or IBHJ?

IBHJ has higher volatility (1.02%) compared to JPHY (0.67%). In terms of maximum drawdown, JPHY dropped -1.65% vs IBHJ's -4.93%.

Which ETF is better, JPHY or IBHJ?

On 1-year performance, IBHJ leads with 6.49% vs 5.98% for JPHY. On fees, JPHY is cheaper at 0.24% per year. On volatility, JPHY has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPHY or IBHJ?

Over the 1-year period, IBHJ has performed better with a 6.49% return vs 5.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPHY or IBHJ?

JPHY is cheaper with a 0.24% expense ratio, compared with 0.35% for IBHJ.

Which ETF pays a higher dividend yield, JPHY or IBHJ?

IBHJ has the higher dividend yield at 6.67%, compared with 6.48% for JPHY.

What is the main difference between JPHY and IBHJ?

They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.24% for JPHY and 0.35% for IBHJ.

Which has better risk-adjusted returns?

JPHY currently has the higher Sharpe Ratio (2.00 vs 1.58), 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.