SIHY vs. IBHE

Last updated Jun 4, 2026

SIHY (Harbor Scientific Alpha High-Yield ETF) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both High Yield Bonds funds - SIHY tracks the ICE BofA US High Yield while IBHE tracks the Bloomberg 2025 Term High Yield and Income Index. Both are passively managed. Over the past 3 years, SIHY returned 9.23%/yr vs 6.07%/yr for IBHE. A 0.64 correlation means they provide meaningful diversification when combined. SIHY charges 0.48%/yr vs 0.35%/yr for IBHE.

Performance

SIHY vs. IBHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Scientific Alpha High-Yield ETF (SIHY) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SIHY

• 1D: -0.13%
• 1M: 0.88%
• YTD: 1.74%
• 6M: 2.22%
• 1Y: 8.47%
• 3Y*: 9.23%
• 5Y*: —
• 10Y*: —

IBHE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.09%
• 1Y: 2.31%
• 3Y*: 6.07%
• 5Y*: 3.89%
• 10Y*: —

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

SIHY vs. IBHE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SIHY Harbor Scientific Alpha High-Yield ETF	1.74%	8.13%	8.67%	13.31%	-7.73%	-0.00%
IBHE iShares iBonds 2025 Term High Yield & Income ETF	0.00%	4.45%	7.62%	10.32%	-4.08%	0.46%

Correlation

The correlation between SIHY and IBHE is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (All Time) Calculated using the full available price history since Sep 17, 2021	0.64

Over the past year, the correlation between SIHY and IBHE has dropped to 0.02 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

SIHY vs. IBHE - Sectors Allocation Comparison

Sectors	SIHY	IBHE
Industrials	14.8%	-
Consumer Cyclical	13.9%	-
Energy	11.9%	-
Technology	8.8%	-
Financial Services	6.3%	-
Real Estate	5.3%	100.0%
Basic Materials	3.2%	-
Communication Services	3.0%	-
Utilities	3.0%	-
Consumer Defensive	2.0%	-
Healthcare	1.5%	-

Return for Risk

SIHY vs. IBHE — Risk / Return Rank

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

SIHY

SIHY Risk / Return Rank: 63
SIHY Sharpe Ratio Rank: 61
SIHY Sortino Ratio Rank: 69
SIHY Omega Ratio Rank: 66
SIHY Calmar Ratio Rank: 55
SIHY Martin Ratio Rank: 62

IBHE

IBHE Risk / Return Rank: 97
IBHE Sharpe Ratio Rank: 93
IBHE Sortino Ratio Rank: 97
IBHE Omega Ratio Rank: 98
IBHE Calmar Ratio Rank: 98
IBHE Martin Ratio Rank: 98

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.

SIHY vs. IBHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Scientific Alpha High-Yield ETF (SIHY) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). 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.

	SIHY	IBHE	Difference
Sharpe ratio: Return per unit of total volatility	2.04	3.51	-1.47
Sortino ratio: Return per unit of downside risk	3.17	6.33	-3.16
Omega ratio: Gain probability vs. loss probability	1.40	2.19	-0.79
Calmar ratio: Return relative to maximum drawdown	2.69	12.78	-10.10
Martin ratio: Return relative to average drawdown	11.10	63.40	-52.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIHY vs. IBHE - Sharpe Ratio Comparison

The current SIHY Sharpe Ratio is 2.04, which is lower than the IBHE Sharpe Ratio of 3.51. The chart below compares the historical Sharpe Ratios of SIHY and IBHE, 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

	SIHY	IBHE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	3.51	-1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.41	+0.24

Drawdowns

SIHY vs. IBHE - Drawdown Comparison

The maximum SIHY drawdown since its inception was -13.30%, smaller than the maximum IBHE drawdown of -26.91%. Use the drawdown chart below to compare losses from any high point for SIHY and IBHE.

Drawdown Indicators

	SIHY	IBHE	Difference
Max Drawdown Largest peak-to-trough decline	-13.30%	-26.91%	+13.61%
Max Drawdown (1Y) Largest decline over 1 year	-3.17%	-0.22%	-2.95%
Max Drawdown (3Y) Largest decline over 3 years	-5.36%	-0.94%	-4.42%
Max Drawdown (5Y) Largest decline over 5 years	—	-8.51%	—
Current Drawdown Current decline from peak	-0.13%	0.00%	-0.13%
Average Drawdown Average peak-to-trough decline	-2.78%	-1.42%	-1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	0.05%	+0.71%

Volatility

SIHY vs. IBHE - Volatility Comparison

Harbor Scientific Alpha High-Yield ETF (SIHY) has a higher volatility of 1.16% compared to iShares iBonds 2025 Term High Yield & Income ETF (IBHE) at 0.00%. This indicates that SIHY's price experiences larger fluctuations and is considered to be riskier than IBHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIHY	IBHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	0.00%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	3.09%	0.39%	+2.70%
Volatility (1Y) Calculated over the trailing 1-year period	4.18%	0.78%	+3.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.58%	4.87%	+2.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.58%	11.53%	-3.95%

SIHY vs. IBHE - Expense Ratio Comparison

SIHY has a 0.48% expense ratio, which is higher than IBHE's 0.35% expense ratio.

Dividends

SIHY vs. IBHE - Dividend Comparison

SIHY's dividend yield for the trailing twelve months is around 7.26%, more than IBHE's 2.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBHE iShares iBonds 2025 Term High Yield & Income ETF	2.29%	4.53%	6.92%	7.17%	5.77%	4.84%	5.74%	3.73%
SIHY Harbor Scientific Alpha High-Yield ETF	7.26%	7.61%	7.54%	7.06%	6.31%	1.30%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIHY and IBHE in my portfolio?

SIHY and IBHE have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIHY or IBHE?

SIHY has higher volatility (1.16%) compared to IBHE (0.00%). In terms of maximum drawdown, SIHY dropped -13.30% vs IBHE's -26.91%.

Which ETF is better, SIHY or IBHE?

On 3-year performance, SIHY leads with 9.23% vs 6.07% for IBHE. On fees, IBHE is cheaper at 0.35% per year. On volatility, IBHE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIHY or IBHE?

Over the 3-year period, SIHY has performed better with a 9.23% return vs 6.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIHY or IBHE?

IBHE is cheaper with a 0.35% expense ratio, compared with 0.48% for SIHY.

Which ETF pays a higher dividend yield, SIHY or IBHE?

SIHY has the higher dividend yield at 7.26%, compared with 2.29% for IBHE.

What is the main difference between SIHY and IBHE?

SIHY tracks ICE BofA US High Yield, while IBHE tracks Bloomberg 2025 Term High Yield and Income Index. They also come from different issuers: Harbor and iShares. Their fees differ too: 0.48% for SIHY and 0.35% for IBHE.

Which has better risk-adjusted returns?

IBHE currently has the higher Sharpe Ratio (3.51 vs 2.04), 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.