PSH vs. IBIC
PSH (PGIM Short Duration High Yield ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - PSH is a High Yield Bonds fund actively managed by PGIM, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. PSH is actively managed, while IBIC is passively managed. Over the past year, PSH returned 5.99% vs 4.42% for IBIC. At a 0.09 correlation, their price movements are largely independent. PSH charges 0.45%/yr vs 0.10%/yr for IBIC.
Performance
PSH vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, PSH achieves a 2.30% return, which is significantly lower than IBIC's 2.43% return.
PSH
- 1D
- 0.05%
- 1M
- 0.46%
- YTD
- 2.30%
- 6M
- 2.57%
- 1Y
- 5.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIC
- 1D
- 0.04%
- 1M
- 0.12%
- YTD
- 2.43%
- 6M
- 2.57%
- 1Y
- 4.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PSH vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PSH PGIM Short Duration High Yield ETF | 2.30% | 7.34% | 7.96% | 0.35% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.43% | 4.96% | 5.25% | 0.08% |
Correlation
The correlation between PSH and IBIC is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2023 | 0.09 |
The correlation between PSH and IBIC shifts across timeframes, from -0.11 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PSH vs. IBIC — Risk / Return Rank
PSH
IBIC
PSH vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Short Duration High Yield ETF (PSH) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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.
| PSH | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.98 | ||
| Sortino ratioReturn per unit of downside risk | -5.83 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 2.22 | -0.80 |
| Calmar ratioReturn relative to maximum drawdown | 4.24 | 16.56 | -12.32 |
| Martin ratioReturn relative to average drawdown | 12.56 | 58.67 | -46.12 |
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Drawdowns
PSH vs. IBIC - Drawdown Comparison
The maximum PSH drawdown since its inception was -3.06%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for PSH and IBIC.
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Drawdown Indicators
| PSH | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.06% | -0.90% | -2.16% |
Max Drawdown (1Y)Largest decline over 1 year | -1.42% | -0.27% | -1.15% |
Current DrawdownCurrent decline from peak | 0.00% | -0.08% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -0.10% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.08% | +0.40% |
Volatility
PSH vs. IBIC - Volatility Comparison
PGIM Short Duration High Yield ETF (PSH) has a higher volatility of 0.52% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.17%. This indicates that PSH's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSH | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 0.17% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 0.67% | +1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 0.89% | +2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.24% | 1.56% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.24% | 1.56% | +1.68% |
PSH vs. IBIC - Expense Ratio Comparison
PSH has a 0.45% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
PSH vs. IBIC - Dividend Comparison
PSH's dividend yield for the trailing twelve months is around 6.64%, more than IBIC's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.58% | 4.43% | 4.65% | 0.83% |
PSH PGIM Short Duration High Yield ETF | 6.64% | 6.62% | 8.35% | 0.00% |
Frequently Asked Questions
PSH and IBIC have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSH has higher volatility (0.52%) compared to IBIC (0.17%). In terms of maximum drawdown, PSH dropped -3.06% vs IBIC's -0.90%.
On 1-year performance, PSH leads with 5.99% vs 4.42% for IBIC. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PSH has performed better with a 5.99% return vs 4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.45% for PSH.
PSH has the higher dividend yield at 6.64%, compared with 3.58% for IBIC.
PSH is categorized as High Yield Bonds, while IBIC is Inflation-Protected Bonds. They also come from different issuers: PGIM and iShares. Their fees differ too: 0.45% for PSH and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.99 vs 2.01), 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.
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