TIBAX vs. SCYB

Last updated Apr 1, 2026

Compare and contrast key facts about Thornburg Investment Income Builder Fund (TIBAX) and Schwab High Yield Bond ETF (SCYB).

TIBAX is managed by Thornburg. It was launched on Dec 23, 2002. SCYB is a passively managed fund by Charles Schwab that tracks the performance of the ICE BofA US Cash Pay High Yield Constrained Index. It was launched on Jul 10, 2023.

Performance

TIBAX vs. SCYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thornburg Investment Income Builder Fund (TIBAX) and Schwab High Yield Bond ETF (SCYB). The values are adjusted to include any dividend payments, if applicable.

TIBAX vs. SCYB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TIBAX Thornburg Investment Income Builder Fund	7.98%	36.62%	13.23%	10.06%
SCYB Schwab High Yield Bond ETF	-0.47%	8.33%	8.15%	6.74%

Returns By Period

In the year-to-date period, TIBAX achieves a 7.98% return, which is significantly higher than SCYB's -0.47% return.

TIBAX

• 1D: 0.31%
• 1M: -4.88%
• YTD: 7.98%
• 6M: 15.33%
• 1Y: 35.77%
• 3Y*: 23.23%
• 5Y*: 14.98%
• 10Y*: 11.70%

SCYB

• 1D: 0.89%
• 1M: -1.23%
• YTD: -0.47%
• 6M: 0.62%
• 1Y: 6.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TIBAX vs. SCYB - Expense Ratio Comparison

TIBAX has a 1.14% expense ratio, which is higher than SCYB's 0.03% expense ratio.

TIBAX

Thornburg Investment Income Builder Fund

SCYB

Schwab High Yield Bond ETF

Return for Risk

TIBAX vs. SCYB — Risk / Return Rank

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

TIBAX

TIBAX Risk / Return Rank: 98
TIBAX Sharpe Ratio Rank: 99
TIBAX Sortino Ratio Rank: 98
TIBAX Omega Ratio Rank: 97
TIBAX Calmar Ratio Rank: 97
TIBAX Martin Ratio Rank: 98

SCYB

SCYB Risk / Return Rank: 74
SCYB Sharpe Ratio Rank: 70
SCYB Sortino Ratio Rank: 72
SCYB Omega Ratio Rank: 77
SCYB Calmar Ratio Rank: 67
SCYB Martin Ratio Rank: 81

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.

TIBAX vs. SCYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thornburg Investment Income Builder Fund (TIBAX) and Schwab High Yield Bond ETF (SCYB). 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.

	TIBAX	SCYB	Difference
Sharpe ratio Return per unit of total volatility	3.33	1.19	+2.15
Sortino ratio Return per unit of downside risk	4.24	1.75	+2.49
Omega ratio Gain probability vs. loss probability	1.74	1.28	+0.46
Calmar ratio Return relative to maximum drawdown	4.10	1.60	+2.51
Martin ratio Return relative to average drawdown	20.22	8.44	+11.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TIBAX vs. SCYB - Sharpe Ratio Comparison

The current TIBAX Sharpe Ratio is 3.33, which is higher than the SCYB Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of TIBAX and SCYB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TIBAX	SCYB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.33	1.19	+2.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.36	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	1.62	-0.85

Correlation

The correlation between TIBAX and SCYB is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TIBAX vs. SCYB - Dividend Comparison

TIBAX's dividend yield for the trailing twelve months is around 5.30%, less than SCYB's 7.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TIBAX Thornburg Investment Income Builder Fund	5.30%	5.64%	5.44%	4.67%	5.62%	5.10%	4.11%	4.23%	4.49%	4.22%	3.83%	4.31%
SCYB Schwab High Yield Bond ETF	7.01%	6.99%	7.06%	3.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

TIBAX vs. SCYB - Drawdown Comparison

The maximum TIBAX drawdown since its inception was -49.12%, which is greater than SCYB's maximum drawdown of -4.92%. Use the drawdown chart below to compare losses from any high point for TIBAX and SCYB.

Drawdown Indicators

	TIBAX	SCYB	Difference
Max Drawdown Largest peak-to-trough decline	-49.12%	-4.92%	-44.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.57%	-4.22%	-4.35%
Max Drawdown (5Y) Largest decline over 5 years	-20.94%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.85%	—	—
Current Drawdown Current decline from peak	-5.13%	-1.50%	-3.63%
Average Drawdown Average peak-to-trough decline	-6.03%	-0.53%	-5.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	0.80%	+0.94%

Volatility

TIBAX vs. SCYB - Volatility Comparison

Thornburg Investment Income Builder Fund (TIBAX) has a higher volatility of 3.19% compared to Schwab High Yield Bond ETF (SCYB) at 2.25%. This indicates that TIBAX's price experiences larger fluctuations and is considered to be riskier than SCYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIBAX	SCYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	2.25%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	6.35%	2.91%	+3.44%
Volatility (1Y) Calculated over the trailing 1-year period	10.70%	5.67%	+5.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.04%	5.20%	+5.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.43%	5.20%	+8.23%