USHY vs. BSJR

Last updated Jun 4, 2026

USHY (iShares Broad USD High Yield Corporate Bond ETF) and BSJR (Invesco BulletShares 2027 High Yield Corporate Bond ETF) are both High Yield Bonds funds - USHY tracks the ICE BofA US High Yield Constrained while BSJR tracks the NASDAQ BulletShares USD High Yield Corporate Bond 2027 Index. Both are passively managed. Over the past 5 years, USHY returned 4.24%/yr vs 3.37%/yr for BSJR. Their correlation of 0.90 suggests significant overlap in exposure. USHY charges 0.15%/yr vs 0.42%/yr for BSJR.

Performance

USHY vs. BSJR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Broad USD High Yield Corporate Bond ETF (USHY) and Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USHY achieves a 1.42% return, which is significantly higher than BSJR's 1.11% return.

USHY

• 1D: -0.27%
• 1M: 0.40%
• YTD: 1.42%
• 6M: 1.77%
• 1Y: 7.02%
• 3Y*: 8.91%
• 5Y*: 4.24%
• 10Y*: —

BSJR

• 1D: -0.09%
• 1M: 0.05%
• YTD: 1.11%
• 6M: 1.70%
• 1Y: 4.78%
• 3Y*: 7.78%
• 5Y*: 3.37%
• 10Y*: —

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

USHY vs. BSJR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
USHY iShares Broad USD High Yield Corporate Bond ETF	1.42%	8.81%	8.45%	12.73%	-11.18%	5.02%	6.17%	2.23%
BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF	1.11%	7.41%	7.15%	11.91%	-11.35%	3.60%	5.69%	3.00%

Correlation

The correlation between USHY and BSJR is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 13, 2019	0.90

The correlation between USHY and BSJR has been stable across timeframes, ranging from 0.83 to 0.93 - a consistent structural relationship.

USHY vs. BSJR - Sectors Allocation Comparison

Sectors	USHY	BSJR
Energy	99.2%	4.3%
Real Estate	0.8%	4.2%
Basic Materials	-	1.6%
Communication Services	-	6.0%
Consumer Cyclical	-	11.2%
Consumer Defensive	-	1.8%
Financial Services	-	13.8%
Healthcare	-	2.7%
Industrials	-	10.3%
Technology	-	1.6%
Utilities	-	0.8%

Return for Risk

USHY vs. BSJR — Risk / Return Rank

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

USHY

USHY Risk / Return Rank: 60
USHY Sharpe Ratio Rank: 55
USHY Sortino Ratio Rank: 61
USHY Omega Ratio Rank: 60
USHY Calmar Ratio Rank: 58
USHY Martin Ratio Rank: 69

BSJR

BSJR Risk / Return Rank: 78
BSJR Sharpe Ratio Rank: 68
BSJR Sortino Ratio Rank: 78
BSJR Omega Ratio Rank: 75
BSJR Calmar Ratio Rank: 80
BSJR Martin Ratio Rank: 87

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.

USHY vs. BSJR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD High Yield Corporate Bond ETF (USHY) and Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR). 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.

	USHY	BSJR	Difference
Sharpe ratio: Return per unit of total volatility	1.93	2.27	-0.34
Sortino ratio: Return per unit of downside risk	2.91	3.51	-0.60
Omega ratio: Gain probability vs. loss probability	1.37	1.45	-0.08
Calmar ratio: Return relative to maximum drawdown	2.90	4.13	-1.23
Martin ratio: Return relative to average drawdown	13.03	19.02	-5.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USHY vs. BSJR - Sharpe Ratio Comparison

The current USHY Sharpe Ratio is 1.93, which is comparable to the BSJR Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of USHY and BSJR, 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

	USHY	BSJR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	2.27	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.50	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.43	+0.15

Drawdowns

USHY vs. BSJR - Drawdown Comparison

The maximum USHY drawdown since its inception was -22.44%, roughly equal to the maximum BSJR drawdown of -22.58%. Use the drawdown chart below to compare losses from any high point for USHY and BSJR.

Drawdown Indicators

	USHY	BSJR	Difference
Max Drawdown Largest peak-to-trough decline	-22.44%	-22.58%	+0.14%
Max Drawdown (1Y) Largest decline over 1 year	-2.43%	-1.16%	-1.27%
Max Drawdown (3Y) Largest decline over 3 years	-4.66%	-3.15%	-1.51%
Max Drawdown (5Y) Largest decline over 5 years	-15.56%	-16.37%	+0.81%
Current Drawdown Current decline from peak	-0.27%	-0.27%	0.00%
Average Drawdown Average peak-to-trough decline	-2.67%	-3.25%	+0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.25%	+0.29%

Volatility

USHY vs. BSJR - Volatility Comparison

iShares Broad USD High Yield Corporate Bond ETF (USHY) has a higher volatility of 1.13% compared to Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR) at 0.57%. This indicates that USHY's price experiences larger fluctuations and is considered to be riskier than BSJR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USHY	BSJR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	0.57%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	2.91%	1.45%	+1.46%
Volatility (1Y) Calculated over the trailing 1-year period	3.65%	2.12%	+1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.34%	6.73%	+0.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.25%	9.37%	-1.12%

USHY vs. BSJR - Expense Ratio Comparison

USHY has a 0.15% expense ratio, which is lower than BSJR's 0.42% expense ratio.

Dividends

USHY vs. BSJR - Dividend Comparison

USHY's dividend yield for the trailing twelve months is around 6.92%, more than BSJR's 5.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF	5.75%	6.19%	6.75%	6.48%	5.37%	4.49%	4.53%	1.20%	0.00%	0.00%
USHY iShares Broad USD High Yield Corporate Bond ETF	6.92%	6.79%	6.89%	6.63%	6.08%	5.07%	5.30%	5.92%	6.30%	0.73%

Frequently Asked Questions

Can I hold both USHY and BSJR in my portfolio?

USHY and BSJR have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USHY or BSJR?

USHY has higher volatility (1.13%) compared to BSJR (0.57%). In terms of maximum drawdown, USHY dropped -22.44% vs BSJR's -22.58%.

Which ETF is better, USHY or BSJR?

On 5-year performance, USHY leads with 4.24% vs 3.37% for BSJR. On fees, USHY is cheaper at 0.15% per year. On volatility, BSJR has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USHY or BSJR?

Over the 5-year period, USHY has performed better with a 4.24% return vs 3.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USHY or BSJR?

USHY is cheaper with a 0.15% expense ratio, compared with 0.42% for BSJR.

Which ETF pays a higher dividend yield, USHY or BSJR?

USHY has the higher dividend yield at 6.92%, compared with 5.75% for BSJR.

What is the main difference between USHY and BSJR?

USHY tracks ICE BofA US High Yield Constrained, while BSJR tracks NASDAQ BulletShares USD High Yield Corporate Bond 2027 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for USHY and 0.42% for BSJR.

Which has better risk-adjusted returns?

BSJR currently has the higher Sharpe Ratio (2.27 vs 1.93), 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.