MHY vs. IBHE
MHY (Man Active High Yield ETF) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both High Yield Bonds funds. MHY is actively managed, while IBHE is passively managed. At a correlation of -0.10, they often move in opposite directions. MHY charges 0.69%/yr vs 0.35%/yr for IBHE.
Performance
MHY vs. IBHE - Performance Comparison
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Returns By Period
MHY
- 1D
- 0.12%
- 1M
- 1.66%
- YTD
- 4.43%
- 6M
- 4.28%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBHE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 1.91%
- 3Y*
- 5.93%
- 5Y*
- 3.89%
- 10Y*
- —
MHY vs. IBHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MHY Man Active High Yield ETF | 4.43% | 1.54% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 0.00% | 0.99% |
Correlation
The correlation between MHY and IBHE is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | -0.10 |
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Return for Risk
MHY vs. IBHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Man Active High Yield ETF (MHY) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). 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.
| MHY | IBHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 2.32 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 25.02 | — |
| Martin ratioReturn relative to average drawdown | — | 98.47 | — |
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Drawdowns
MHY vs. IBHE - Drawdown Comparison
The maximum MHY drawdown since its inception was -1.58%, smaller than the maximum IBHE drawdown of -26.91%. Use the drawdown chart below to compare losses from any high point for MHY and IBHE.
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Drawdown Indicators
| MHY | IBHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.58% | -26.91% | +25.33% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.11% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.94% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.51% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.29% | -1.42% | +1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.05% | — |
Volatility
MHY vs. IBHE - Volatility Comparison
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Volatility by Period
| MHY | IBHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.00% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.38% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 0.74% | +2.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.99% | 4.87% | -1.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.99% | 11.52% | -8.53% |
MHY vs. IBHE - Expense Ratio Comparison
MHY has a 0.69% expense ratio, which is higher than IBHE's 0.35% expense ratio.
Dividends
MHY vs. IBHE - Dividend Comparison
MHY's dividend yield for the trailing twelve months is around 5.29%, while IBHE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 2.29% | 4.53% | 6.92% | 7.17% | 5.77% | 4.84% | 5.74% | 3.73% |
MHY Man Active High Yield ETF | 5.29% | 3.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MHY and IBHE have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBHE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBHE is cheaper with a 0.35% expense ratio, compared with 0.69% for MHY.
MHY has the higher dividend yield at 5.29%, compared with 2.29% for IBHE.
They also come from different issuers: Man Group and iShares. Their fees differ too: 0.69% for MHY and 0.35% for IBHE.
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