ODHY vs. IBHG
ODHY (Obra Defensive High Yield ETF) and IBHG (iShares iBonds 2027 Term High Yield and Income ETF) are both High Yield Bonds funds. A 0.72 correlation means they provide meaningful diversification when combined. ODHY charges 0.50%/yr vs 0.35%/yr for IBHG.
Performance
ODHY vs. IBHG - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ODHY having a 1.00% return and IBHG slightly lower at 0.96%.
ODHY
- 1D
- -0.13%
- 1M
- 0.30%
- YTD
- 1.00%
- 6M
- 1.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBHG
- 1D
- -0.09%
- 1M
- 0.21%
- YTD
- 0.96%
- 6M
- 1.46%
- 1Y
- 4.61%
- 3Y*
- 7.37%
- 5Y*
- —
- 10Y*
- —
ODHY vs. IBHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ODHY Obra Defensive High Yield ETF | 1.00% | 2.15% |
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 0.96% | 2.65% |
Correlation
The correlation between ODHY and IBHG is 0.72, 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 Jul 1, 2025 | 0.72 |
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Return for Risk
ODHY vs. IBHG — Risk / Return Rank
ODHY
IBHG
ODHY vs. IBHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Obra Defensive High Yield ETF (ODHY) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| ODHY | IBHG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.20 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 0.56 | +0.69 |
Drawdowns
ODHY vs. IBHG - Drawdown Comparison
The maximum ODHY drawdown since its inception was -1.96%, smaller than the maximum IBHG drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for ODHY and IBHG.
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Drawdown Indicators
| ODHY | IBHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.96% | -13.85% | +11.89% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.73% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.39% | — |
Current DrawdownCurrent decline from peak | -0.18% | -0.22% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -0.34% | -2.67% | +2.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.20% | — |
Volatility
ODHY vs. IBHG - Volatility Comparison
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Volatility by Period
| ODHY | IBHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.58% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.53% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.73% | 2.11% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.73% | 6.37% | -3.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.73% | 6.37% | -3.64% |
ODHY vs. IBHG - Expense Ratio Comparison
ODHY has a 0.50% expense ratio, which is higher than IBHG's 0.35% expense ratio.
Dividends
ODHY vs. IBHG - Dividend Comparison
ODHY's dividend yield for the trailing twelve months is around 4.78%, less than IBHG's 6.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 6.08% | 6.33% | 7.02% | 6.66% | 5.62% | 2.13% |
ODHY Obra Defensive High Yield ETF | 4.78% | 2.62% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ODHY and IBHG have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBHG is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBHG is cheaper with a 0.35% expense ratio, compared with 0.50% for ODHY.
IBHG has the higher dividend yield at 6.08%, compared with 4.78% for ODHY.
They also come from different issuers: Obra and iShares. Their fees differ too: 0.50% for ODHY and 0.35% for IBHG.
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