PGHY vs. LDRH

Last updated Jun 4, 2026

PGHY (Invesco Global Short Term High Yield Bond ETF) and LDRH (iShares iBonds 1-5 Year High Yield and Income Ladder ETF) are both High Yield Bonds funds - PGHY tracks the DB Global Short Maturity High Yield Bond Index while LDRH tracks the BlackRock iBonds 1-5 Year High Yield and Income Ladder Index. Both are passively managed. Over the past year, PGHY returned 8.04% vs 6.43% for LDRH. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.

Performance

PGHY vs. LDRH - 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 1-5 Year High Yield and Income Ladder ETF (LDRH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGHY achieves a 2.49% return, which is significantly higher than LDRH's 1.79% return.

PGHY

• 1D: -0.30%
• 1M: 0.76%
• YTD: 2.49%
• 6M: 2.62%
• 1Y: 8.04%
• 3Y*: 8.94%
• 5Y*: 4.59%
• 10Y*: 4.43%

LDRH

• 1D: -0.20%
• 1M: 0.18%
• YTD: 1.79%
• 6M: 2.28%
• 1Y: 6.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PGHY vs. LDRH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PGHY Invesco Global Short Term High Yield Bond ETF	2.49%	8.88%	-0.90%
LDRH iShares iBonds 1-5 Year High Yield and Income Ladder ETF	1.79%	7.18%	0.21%

Correlation

The correlation between PGHY and LDRH is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Nov 11, 2024	0.43

PGHY vs. LDRH - Sectors Allocation Comparison

Sectors	PGHY	LDRH
Financial Services	8.8%	-
Communication Services	6.2%	-
Consumer Cyclical	5.7%	-
Basic Materials	5.6%	-
Energy	3.6%	100.0%
Industrials	3.5%	-
Healthcare	2.5%	-
Technology	1.7%	-
Utilities	1.5%	-
Consumer Defensive	1.4%	-
Real Estate	0.5%	-

Return for Risk

PGHY vs. LDRH — Risk / Return Rank

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

PGHY

PGHY Risk / Return Rank: 51
PGHY Sharpe Ratio Rank: 45
PGHY Sortino Ratio Rank: 50
PGHY Omega Ratio Rank: 45
PGHY Calmar Ratio Rank: 54
PGHY Martin Ratio Rank: 58

LDRH

LDRH Risk / Return Rank: 85
LDRH Sharpe Ratio Rank: 76
LDRH Sortino Ratio Rank: 87
LDRH Omega Ratio Rank: 81
LDRH Calmar Ratio Rank: 88
LDRH 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.

PGHY vs. LDRH - 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 1-5 Year High Yield and Income Ladder ETF (LDRH). 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	LDRH	Difference
Sharpe ratio Return per unit of total volatility	1.61	2.48	-0.87
Sortino ratio Return per unit of downside risk	2.47	3.99	-1.53
Omega ratio Gain probability vs. loss probability	1.29	1.49	-0.20
Calmar ratio Return relative to maximum drawdown	2.66	5.24	-2.59
Martin ratio Return relative to average drawdown	10.32	21.81	-11.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGHY vs. LDRH - Sharpe Ratio Comparison

The current PGHY Sharpe Ratio is 1.61, which is lower than the LDRH Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of PGHY and LDRH, 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

	PGHY	LDRH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	2.48	-0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	1.69	-1.08

Drawdowns

PGHY vs. LDRH - Drawdown Comparison

The maximum PGHY drawdown since its inception was -20.50%, which is greater than LDRH's maximum drawdown of -3.17%. Use the drawdown chart below to compare losses from any high point for PGHY and LDRH.

Drawdown Indicators

	PGHY	LDRH	Difference
Max Drawdown Largest peak-to-trough decline	-20.50%	-3.17%	-17.33%
Max Drawdown (1Y) Largest decline over 1 year	-3.04%	-1.23%	-1.81%
Max Drawdown (3Y) Largest decline over 3 years	-5.03%	—	—
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	-0.50%	-0.20%	-0.30%
Average Drawdown Average peak-to-trough decline	-1.64%	-0.24%	-1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	0.30%	+0.48%

Volatility

PGHY vs. LDRH - Volatility Comparison

Invesco Global Short Term High Yield Bond ETF (PGHY) has a higher volatility of 1.92% compared to iShares iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH) at 0.69%. This indicates that PGHY's price experiences larger fluctuations and is considered to be riskier than LDRH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGHY	LDRH	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.92%	0.69%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	3.67%	1.97%	+1.70%
Volatility (1Y) Calculated over the trailing 1-year period	5.01%	2.61%	+2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.44%	3.52%	+1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.04%	3.52%	+3.52%

PGHY vs. LDRH - Expense Ratio Comparison

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

Dividends

PGHY vs. LDRH - Dividend Comparison

PGHY's dividend yield for the trailing twelve months is around 7.09%, more than LDRH's 7.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LDRH iShares iBonds 1-5 Year High Yield and Income Ladder ETF	7.00%	6.41%	1.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PGHY Invesco Global Short Term High Yield Bond ETF	7.09%	7.24%	7.49%	7.87%	5.12%	5.17%	5.45%	5.32%	5.45%	5.52%	6.26%	4.60%

Frequently Asked Questions

Can I hold both PGHY and LDRH in my portfolio?

PGHY and LDRH have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGHY or LDRH?

PGHY has higher volatility (1.92%) compared to LDRH (0.69%). In terms of maximum drawdown, PGHY dropped -20.50% vs LDRH's -3.17%.

Which ETF is better, PGHY or LDRH?

On 1-year performance, PGHY leads with 8.04% vs 6.43% for LDRH. Both ETFs have the same 0.35% expense ratio. On volatility, LDRH has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PGHY or LDRH?

Over the 1-year period, PGHY has performed better with a 8.04% return vs 6.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PGHY or LDRH?

PGHY and LDRH have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, PGHY or LDRH?

PGHY has the higher dividend yield at 7.09%, compared with 7.00% for LDRH.

What is the main difference between PGHY and LDRH?

PGHY tracks DB Global Short Maturity High Yield Bond Index, while LDRH tracks BlackRock iBonds 1-5 Year High Yield and Income Ladder Index. They also come from different issuers: Invesco and iShares.

Which has better risk-adjusted returns?

LDRH currently has the higher Sharpe Ratio (2.48 vs 1.61), 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.