NHYB vs. IBHE
NHYB (Nuveen High Yield Corporate Bond ETF) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both High Yield Bonds funds - NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index while IBHE tracks the Bloomberg 2025 Term High Yield and Income Index. Both are passively managed. At a correlation of -0.09, they often move in opposite directions. NHYB charges 0.08%/yr vs 0.35%/yr for IBHE.
Performance
NHYB vs. IBHE - Performance Comparison
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Returns By Period
NHYB
- 1D
- 0.04%
- 1M
- 0.33%
- YTD
- 1.99%
- 6M
- 1.95%
- 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*
- —
NHYB vs. IBHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NHYB Nuveen High Yield Corporate Bond ETF | 1.99% | 1.24% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 0.00% | 0.95% |
Correlation
The correlation between NHYB and IBHE is -0.09, 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 24, 2025 | -0.09 |
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Return for Risk
NHYB vs. IBHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen High Yield Corporate Bond ETF (NHYB) 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.
| NHYB | 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
NHYB vs. IBHE - Drawdown Comparison
The maximum NHYB drawdown since its inception was -2.40%, smaller than the maximum IBHE drawdown of -26.91%. Use the drawdown chart below to compare losses from any high point for NHYB and IBHE.
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Drawdown Indicators
| NHYB | IBHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.40% | -26.91% | +24.51% |
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 | -0.12% | 0.00% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -0.36% | -1.42% | +1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.05% | — |
Volatility
NHYB vs. IBHE - Volatility Comparison
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Volatility by Period
| NHYB | 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 | 3.61% | 0.74% | +2.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.61% | 4.87% | -1.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.61% | 11.52% | -7.91% |
NHYB vs. IBHE - Expense Ratio Comparison
NHYB has a 0.08% expense ratio, which is lower than IBHE's 0.35% expense ratio.
Dividends
NHYB vs. IBHE - Dividend Comparison
NHYB's dividend yield for the trailing twelve months is around 4.24%, 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% |
NHYB Nuveen High Yield Corporate Bond ETF | 4.24% | 1.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NHYB and IBHE have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NHYB is cheaper with a 0.08% expense ratio, compared with 0.35% for IBHE.
NHYB has the higher dividend yield at 4.24%, compared with 2.29% for IBHE.
NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index, while IBHE tracks Bloomberg 2025 Term High Yield and Income Index. They also come from different issuers: Nuveen and iShares. Their fees differ too: 0.08% for NHYB and 0.35% for IBHE.
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