NHYB vs. IBHG

Last updated Jul 17, 2026

NHYB (Nuveen High Yield Corporate Bond ETF) and IBHG (iShares iBonds 2027 Term High Yield and Income ETF) are both High Yield Bonds funds - NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index while IBHG tracks the Bloomberg 2027 Term High Yield and Income Index - Benchmark TR Gross. Both are passively managed. A 0.68 correlation means they provide meaningful diversification when combined. NHYB charges 0.08%/yr vs 0.35%/yr for IBHG.

Performance

NHYB vs. IBHG - 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 2027 Term High Yield and Income ETF (IBHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NHYB achieves a 2.24% return, which is significantly higher than IBHG's 1.58% return.

NHYB

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

IBHG

• 1D: -0.02%
• 1M: 0.43%
• 6M: 1.51%
• YTD: 1.58%
• 1Y: 4.37%
• 3Y*: 7.05%
• 5Y*: 3.68%
• 10Y*: —

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

NHYB vs. IBHG - Yearly Performance Comparison

	2026 (YTD)	2025
NHYB Nuveen High Yield Corporate Bond ETF	2.24%	1.24%
IBHG iShares iBonds 2027 Term High Yield and Income ETF	1.58%	1.25%

Correlation

The correlation between NHYB and IBHG is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.68

Return for Risk

NHYB vs. IBHG — Risk / Return Rank

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

NHYB

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

IBHG

IBHG Risk / Return Rank: 90
IBHG Sharpe Ratio Rank: 85
IBHG Sortino Ratio Rank: 90
IBHG Omega Ratio Rank: 86
IBHG Calmar Ratio Rank: 95
IBHG Martin Ratio Rank: 95

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.

NHYB vs. IBHG - 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 2027 Term High Yield and Income ETF (IBHG). 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	IBHG	Difference
Sharpe ratio: Return per unit of total volatility	—	2.18	—
Sortino ratio: Return per unit of downside risk	—	3.40	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	6.04	—
Martin ratio: Return relative to average drawdown	—	22.15	—

Drawdowns

NHYB vs. IBHG - Drawdown Comparison

The maximum NHYB drawdown since its inception was -2.40%, smaller than the maximum IBHG drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for NHYB and IBHG.

Drawdown Indicators

	NHYB	IBHG	Difference
Max Drawdown Largest peak-to-trough decline	-2.40%	-13.85%	+11.45%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.73%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.39%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.85%	—
Current Drawdown Current decline from peak	-0.16%	-0.02%	-0.14%
Average Drawdown Average peak-to-trough decline	-0.34%	-2.61%	+2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.20%	—

Volatility

Volatility by Period

	NHYB	IBHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.51%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.54%	2.01%	+1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.54%	6.31%	-2.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.54%	6.29%	-2.75%

NHYB vs. IBHG - Expense Ratio Comparison

NHYB has a 0.08% expense ratio, which is lower than IBHG's 0.35% expense ratio.

Dividends

NHYB vs. IBHG - Dividend Comparison

NHYB's dividend yield for the trailing twelve months is around 4.82%, less than IBHG's 6.03% yield.

Position	TTM	2025	2024	2023	2022	2021
IBHG iShares iBonds 2027 Term High Yield and Income ETF	6.03%	6.33%	7.02%	6.66%	5.62%	2.13%
NHYB Nuveen High Yield Corporate Bond ETF	4.82%	1.28%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NHYB and IBHG in my portfolio?

NHYB and IBHG have a correlation of 0.68, 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 IBHG?

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 IBHG?

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

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

IBHG has the higher dividend yield at 6.03%, compared with 4.82% for NHYB.

What is the main difference between NHYB and IBHG?

NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index, while IBHG tracks Bloomberg 2027 Term High Yield and Income Index - Benchmark TR Gross. They also come from different issuers: Nuveen and iShares. Their fees differ too: 0.08% for NHYB and 0.35% for IBHG.