NHYB vs. IBHM

Last updated Jun 18, 2026

NHYB (Nuveen High Yield Corporate Bond ETF) and IBHM (iShares iBonds 2033 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 IBHM tracks the Bloomberg 2033 Term High Yield and Income Index. Both are passively managed. Their correlation of 0.88 suggests significant overlap in exposure. NHYB charges 0.08%/yr vs 0.35%/yr for IBHM.

Performance

NHYB vs. IBHM - 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 2033 Term High Yield and Income ETF (IBHM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NHYB

• 1D: -0.26%
• 1M: 1.04%
• YTD: 1.76%
• 6M: 2.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBHM

• 1D: -0.18%
• 1M: 1.29%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NHYB vs. IBHM - Yearly Performance Comparison

	2026 (YTD)
NHYB Nuveen High Yield Corporate Bond ETF	2.18%
IBHM iShares iBonds 2033 Term High Yield and Income ETF	2.50%

Correlation

The correlation between NHYB and IBHM is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 26, 2026	0.88

Return for Risk

NHYB vs. IBHM - 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 2033 Term High Yield and Income ETF (IBHM). 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

NHYB vs. IBHM - Drawdown Comparison

The maximum NHYB drawdown since its inception was -2.40%, which is greater than IBHM's maximum drawdown of -1.67%. Use the drawdown chart below to compare losses from any high point for NHYB and IBHM.

Drawdown Indicators

	NHYB	IBHM	Difference
Max Drawdown Largest peak-to-trough decline	-2.40%	-1.67%	-0.73%
Current Drawdown Current decline from peak	-0.34%	-0.30%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.36%	-0.45%	+0.09%

Volatility

Volatility by Period

	NHYB	IBHM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.65%	5.45%	-1.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.65%	5.45%	-1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.65%	5.45%	-1.80%

NHYB vs. IBHM - Expense Ratio Comparison

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

Dividends

NHYB vs. IBHM - Dividend Comparison

NHYB's dividend yield for the trailing twelve months is around 4.25%, more than IBHM's 1.08% yield.

Position	TTM	2025
IBHM iShares iBonds 2033 Term High Yield and Income ETF	1.08%	0.00%
NHYB Nuveen High Yield Corporate Bond ETF	4.25%	1.28%

Frequently Asked Questions

Can I hold both NHYB and IBHM in my portfolio?

NHYB and IBHM have a correlation of 0.88, 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 IBHM?

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 IBHM?

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

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

NHYB has the higher dividend yield at 4.25%, compared with 1.08% for IBHM.

What is the main difference between NHYB and IBHM?

NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index, while IBHM tracks Bloomberg 2033 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 IBHM.