NHYB vs. IBHE

Last updated Jul 17, 2026

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

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen High Yield Corporate Bond ETF (NHYB) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NHYB

• 1D: -0.12%
• 1M: 0.20%
• 6M: 1.83%
• YTD: 2.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBHE

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NHYB vs. IBHE - Yearly Performance Comparison

	2026 (YTD)	2025
NHYB Nuveen High Yield Corporate Bond ETF	2.24%	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

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

Drawdown Indicators

	NHYB	IBHE	Difference
Max Drawdown Largest peak-to-trough decline	-2.40%	—	—
Current Drawdown Current decline from peak	-0.16%	—	—
Average Drawdown Average peak-to-trough decline	-0.34%	—	—

Volatility

Volatility by Period

	NHYB	IBHE	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.54%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.54%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.54%	—	—

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 4.82%, 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	1.87%	4.53%	6.92%	7.17%	5.77%	4.84%	5.74%	3.73%
NHYB Nuveen High Yield Corporate Bond ETF	4.82%	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NHYB and IBHE in my portfolio?

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.

Which ETF is better, NHYB or IBHE?

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.

Which ETF is cheaper, NHYB or IBHE?

NHYB is cheaper with a 0.08% expense ratio, compared with 0.35% for IBHE.

Which ETF pays a higher dividend yield, NHYB or IBHE?

NHYB has the higher dividend yield at 4.82%, compared with 1.87% for IBHE.

What is the main difference between NHYB and 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.