PCHI vs. IBHH

Last updated Jun 5, 2026

PCHI (Polen High Income ETF) and IBHH (iShares iBonds 2028 Term High Yield and Income ETF) are both High Yield Bonds funds. PCHI is actively managed, while IBHH is passively managed. Over the past year, PCHI returned 4.22% vs 6.52% for IBHH. At a 0.39 correlation, their price movements are largely independent. PCHI charges 0.56%/yr vs 0.35%/yr for IBHH.

Performance

PCHI vs. IBHH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Polen High Income ETF (PCHI) and iShares iBonds 2028 Term High Yield and Income ETF (IBHH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCHI achieves a 0.19% return, which is significantly lower than IBHH's 1.81% return.

PCHI

• 1D: 0.39%
• 1M: -0.75%
• YTD: 0.19%
• 6M: 1.01%
• 1Y: 4.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBHH

• 1D: 0.15%
• 1M: 0.35%
• YTD: 1.81%
• 6M: 2.40%
• 1Y: 6.52%
• 3Y*: 8.61%
• 5Y*: —
• 10Y*: —

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

PCHI vs. IBHH - Yearly Performance Comparison

	2026 (YTD)	2025
PCHI Polen High Income ETF	0.19%	5.15%
IBHH iShares iBonds 2028 Term High Yield and Income ETF	1.81%	6.27%

Correlation

The correlation between PCHI and IBHH is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025	0.39

Return for Risk

PCHI vs. IBHH — Risk / Return Rank

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

PCHI

PCHI Risk / Return Rank: 29
PCHI Sharpe Ratio Rank: 26
PCHI Sortino Ratio Rank: 25
PCHI Omega Ratio Rank: 26
PCHI Calmar Ratio Rank: 36
PCHI Martin Ratio Rank: 31

IBHH

IBHH Risk / Return Rank: 82
IBHH Sharpe Ratio Rank: 73
IBHH Sortino Ratio Rank: 81
IBHH Omega Ratio Rank: 77
IBHH Calmar Ratio Rank: 89
IBHH Martin Ratio Rank: 91

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.

PCHI vs. IBHH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Polen High Income ETF (PCHI) and iShares iBonds 2028 Term High Yield and Income ETF (IBHH). 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.

	PCHI	IBHH	Difference
Sharpe ratio: Return per unit of total volatility	0.88	2.33	-1.45
Sortino ratio: Return per unit of downside risk	1.28	3.56	-2.28
Omega ratio: Gain probability vs. loss probability	1.17	1.45	-0.28
Calmar ratio: Return relative to maximum drawdown	1.74	5.35	-3.62
Martin ratio: Return relative to average drawdown	4.48	21.49	-17.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCHI vs. IBHH - Sharpe Ratio Comparison

The current PCHI Sharpe Ratio is 0.88, which is lower than the IBHH Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of PCHI and IBHH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PCHI	IBHH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	2.33	-1.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.74	+0.11

Drawdowns

PCHI vs. IBHH - Drawdown Comparison

The maximum PCHI drawdown since its inception was -2.99%, smaller than the maximum IBHH drawdown of -12.05%. Use the drawdown chart below to compare losses from any high point for PCHI and IBHH.

Drawdown Indicators

	PCHI	IBHH	Difference
Max Drawdown Largest peak-to-trough decline	-2.99%	-12.05%	+9.06%
Max Drawdown (1Y) Largest decline over 1 year	-2.44%	-1.22%	-1.22%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.66%	—
Current Drawdown Current decline from peak	-1.85%	0.00%	-1.85%
Average Drawdown Average peak-to-trough decline	-0.78%	-2.30%	+1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	0.30%	+0.64%

Volatility

PCHI vs. IBHH - Volatility Comparison

Polen High Income ETF (PCHI) has a higher volatility of 2.05% compared to iShares iBonds 2028 Term High Yield and Income ETF (IBHH) at 0.76%. This indicates that PCHI's price experiences larger fluctuations and is considered to be riskier than IBHH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCHI	IBHH	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.05%	0.76%	+1.29%
Volatility (6M) Calculated over the trailing 6-month period	3.23%	2.08%	+1.15%
Volatility (1Y) Calculated over the trailing 1-year period	4.84%	2.82%	+2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.28%	7.26%	-1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.28%	7.26%	-1.98%

PCHI vs. IBHH - Expense Ratio Comparison

PCHI has a 0.56% expense ratio, which is higher than IBHH's 0.35% expense ratio.

Dividends

PCHI vs. IBHH - Dividend Comparison

PCHI's dividend yield for the trailing twelve months is around 8.08%, more than IBHH's 6.26% yield.

Position	TTM	2025	2024	2023	2022
IBHH iShares iBonds 2028 Term High Yield and Income ETF	6.26%	6.39%	6.93%	6.65%	5.36%
PCHI Polen High Income ETF	8.08%	5.62%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PCHI and IBHH in my portfolio?

PCHI and IBHH have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCHI or IBHH?

PCHI has higher volatility (2.05%) compared to IBHH (0.76%). In terms of maximum drawdown, PCHI dropped -2.99% vs IBHH's -12.05%.

Which ETF is better, PCHI or IBHH?

On 1-year performance, IBHH leads with 6.52% vs 4.22% for PCHI. On fees, IBHH is cheaper at 0.35% per year. On volatility, IBHH has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PCHI or IBHH?

Over the 1-year period, IBHH has performed better with a 6.52% return vs 4.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PCHI or IBHH?

IBHH is cheaper with a 0.35% expense ratio, compared with 0.56% for PCHI.

Which ETF pays a higher dividend yield, PCHI or IBHH?

PCHI has the higher dividend yield at 8.08%, compared with 6.26% for IBHH.

What is the main difference between PCHI and IBHH?

They also come from different issuers: Polen Capital and iShares. Their fees differ too: 0.56% for PCHI and 0.35% for IBHH.

Which has better risk-adjusted returns?

IBHH currently has the higher Sharpe Ratio (2.33 vs 0.88), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.