THYF vs. IBHD

Last updated Apr 1, 2026

Compare and contrast key facts about T. Rowe Price U.S. High Yield ETF (THYF) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD).

THYF and IBHD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. THYF is an actively managed fund by T. Rowe Price. It was launched on Oct 25, 2022. 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.

Performance

THYF vs. IBHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price U.S. High Yield ETF (THYF) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD). The values are adjusted to include any dividend payments, if applicable.

THYF vs. IBHD - Yearly Performance Comparison

	2026 (YTD)
THYF T. Rowe Price U.S. High Yield ETF	-1.45%
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%

Returns By Period

THYF

• 1D: 0.88%
• 1M: -1.45%
• YTD: -0.78%
• 6M: 0.60%
• 1Y: 6.58%
• 3Y*: 7.79%
• 5Y*: —
• 10Y*: —

IBHD

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

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

THYF vs. IBHD - Expense Ratio Comparison

THYF has a 0.56% expense ratio, which is higher than IBHD's 0.35% expense ratio.

THYF

T. Rowe Price U.S. High Yield ETF

IBHD

iShares iBonds 2024 Term High Yield & Income ETF

Return for Risk

THYF vs. IBHD — Risk / Return Rank

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

THYF

THYF Risk / Return Rank: 70
THYF Sharpe Ratio Rank: 69
THYF Sortino Ratio Rank: 70
THYF Omega Ratio Rank: 77
THYF Calmar Ratio Rank: 65
THYF Martin Ratio Rank: 72

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.

THYF vs. IBHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price U.S. High Yield ETF (THYF) 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.

	THYF	IBHD	Difference
Sharpe ratio Return per unit of total volatility	1.20	—	—
Sortino ratio Return per unit of downside risk	1.74	—	—
Omega ratio Gain probability vs. loss probability	1.29	—	—
Calmar ratio Return relative to maximum drawdown	1.62	—	—
Martin ratio Return relative to average drawdown	7.37	—	—
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

	THYF	IBHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.41	—	—

Dividends

THYF vs. IBHD - Dividend Comparison

THYF's dividend yield for the trailing twelve months is around 7.22%, while IBHD has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022
THYF T. Rowe Price U.S. High Yield ETF	7.22%	7.17%	7.30%	8.02%	1.50%
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

THYF vs. IBHD - Drawdown Comparison

The maximum THYF drawdown since its inception was -5.24%, which is greater than IBHD's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for THYF and IBHD.

Drawdown Indicators

	THYF	IBHD	Difference
Max Drawdown Largest peak-to-trough decline	-5.24%	0.00%	-5.24%
Max Drawdown (1Y) Largest decline over 1 year	-4.05%	—	—
Current Drawdown Current decline from peak	-1.77%	0.00%	-1.77%
Average Drawdown Average peak-to-trough decline	-0.84%	0.00%	-0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	—	—

Volatility

Volatility by Period

	THYF	IBHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.84%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.59%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.50%	0.00%	+5.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.90%	0.00%	+5.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.90%	0.00%	+5.90%