PGHY vs. IBHD

Last updated Apr 3, 2026

Compare and contrast key facts about Invesco Global Short Term High Yield Bond ETF (PGHY) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD).

PGHY and IBHD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGHY is a passively managed fund by Invesco that tracks the performance of the DB Global Short Maturity High Yield Bond Index. It was launched on Jun 20, 2013. IBHD is a passively managed fund by iShares that tracks the performance of the Bloomberg 2024 Term High Yield and Income Index. It was launched on May 7, 2019. Both PGHY and IBHD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PGHY vs. IBHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Short Term High Yield Bond ETF (PGHY) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD). The values are adjusted to include any dividend payments, if applicable.

PGHY vs. IBHD - Yearly Performance Comparison

	2026 (YTD)
PGHY Invesco Global Short Term High Yield Bond ETF	-0.49%
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%

Returns By Period

PGHY

• 1D: 0.51%
• 1M: -0.39%
• YTD: 0.48%
• 6M: 1.92%
• 1Y: 6.66%
• 3Y*: 8.72%
• 5Y*: 4.34%
• 10Y*: 4.55%

IBHD

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PGHY vs. IBHD - Expense Ratio Comparison

Both PGHY and IBHD have an expense ratio of 0.35%.

PGHY

Invesco Global Short Term High Yield Bond ETF

IBHD

iShares iBonds 2024 Term High Yield & Income ETF

Return for Risk

PGHY vs. IBHD — Risk / Return Rank

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

PGHY

PGHY Risk / Return Rank: 57
PGHY Sharpe Ratio Rank: 59
PGHY Sortino Ratio Rank: 61
PGHY Omega Ratio Rank: 56
PGHY Calmar Ratio Rank: 49
PGHY Martin Ratio Rank: 57

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.

PGHY vs. IBHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Short Term High Yield Bond ETF (PGHY) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD). 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.

	PGHY	IBHD	Difference
Sharpe ratio Return per unit of total volatility	1.11	—	—
Sortino ratio Return per unit of downside risk	1.64	—	—
Omega ratio Gain probability vs. loss probability	1.22	—	—
Calmar ratio Return relative to maximum drawdown	1.51	—	—
Martin ratio Return relative to average drawdown	6.65	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PGHY	IBHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	—	—

Dividends

PGHY vs. IBHD - Dividend Comparison

PGHY's dividend yield for the trailing twelve months is around 7.16%, while IBHD has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PGHY Invesco Global Short Term High Yield Bond ETF	7.16%	7.24%	7.49%	7.87%	5.12%	5.17%	5.45%	5.32%	5.45%	5.52%	6.26%	4.60%
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PGHY vs. IBHD - Drawdown Comparison

The maximum PGHY drawdown since its inception was -20.50%, which is greater than IBHD's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PGHY and IBHD.

Drawdown Indicators

	PGHY	IBHD	Difference
Max Drawdown Largest peak-to-trough decline	-20.50%	0.00%	-20.50%
Max Drawdown (1Y) Largest decline over 1 year	-3.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-20.50%	—	—
Current Drawdown Current decline from peak	-1.33%	0.00%	-1.33%
Average Drawdown Average peak-to-trough decline	-1.66%	0.00%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	—	—

Volatility

Volatility by Period

	PGHY	IBHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.01%	0.00%	+6.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.33%	0.00%	+5.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.03%	0.00%	+7.03%