WES vs. IBHH
WES (Western Midstream Partners, LP) is a stock, while IBHH (iShares iBonds 2028 Term High Yield and Income ETF) is High Yield Bonds fund tracking the Bloomberg 2028 Term High Yield and Income Index - Benchmark TR Gross. Over the past 3 years, WES returned 30.12%/yr vs 8.48%/yr for IBHH. At a 0.26 correlation, their price movements are largely independent.
Performance
WES vs. IBHH - Performance Comparison
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Returns By Period
In the year-to-date period, WES achieves a 16.46% return, which is significantly higher than IBHH's 1.66% return.
WES
- 1D
- 0.94%
- 1M
- 3.43%
- YTD
- 16.46%
- 6M
- 17.26%
- 1Y
- 26.66%
- 3Y*
- 30.12%
- 5Y*
- 25.95%
- 10Y*
- 8.76%
IBHH
- 1D
- -0.06%
- 1M
- 0.40%
- YTD
- 1.66%
- 6M
- 2.20%
- 1Y
- 6.59%
- 3Y*
- 8.48%
- 5Y*
- —
- 10Y*
- —
WES vs. IBHH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
WES Western Midstream Partners, LP | 16.46% | 12.77% | 43.58% | 19.46% | 12.57% |
IBHH iShares iBonds 2028 Term High Yield and Income ETF | 1.66% | 8.02% | 7.53% | 12.87% | -6.70% |
Correlation
The correlation between WES and IBHH is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2022 | 0.26 |
The correlation between WES and IBHH shifts across timeframes, from -0.06 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WES vs. IBHH — Risk / Return Rank
WES
IBHH
WES vs. IBHH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Midstream Partners, LP (WES) and iShares iBonds 2028 Term High Yield and Income ETF (IBHH). 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.
| WES | IBHH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.46 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 5.41 | -2.57 |
| Martin ratioReturn relative to average drawdown | 6.54 | 21.70 | -15.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WES | IBHH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 2.35 | -1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.73 | -0.49 |
Drawdowns
WES vs. IBHH - Drawdown Comparison
The maximum WES drawdown since its inception was -93.66%, which is greater than IBHH's maximum drawdown of -12.05%. Use the drawdown chart below to compare losses from any high point for WES and IBHH.
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Drawdown Indicators
| WES | IBHH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.66% | -12.05% | -81.61% |
Max Drawdown (1Y)Largest decline over 1 year | -9.42% | -1.22% | -8.20% |
Max Drawdown (3Y)Largest decline over 3 years | -16.65% | -4.66% | -11.99% |
Max Drawdown (5Y)Largest decline over 5 years | -23.54% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -91.90% | — | — |
Current DrawdownCurrent decline from peak | -6.97% | -0.07% | -6.90% |
Average DrawdownAverage peak-to-trough decline | -28.54% | -2.30% | -26.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.09% | 0.30% | +3.79% |
Volatility
WES vs. IBHH - Volatility Comparison
Western Midstream Partners, LP (WES) has a higher volatility of 9.11% compared to iShares iBonds 2028 Term High Yield and Income ETF (IBHH) at 0.77%. This indicates that WES's price experiences larger fluctuations and is considered to be riskier than IBHH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WES | IBHH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.11% | 0.77% | +8.34% |
Volatility (6M)Calculated over the trailing 6-month period | 15.54% | 2.08% | +13.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.16% | 2.82% | +17.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.22% | 7.26% | +21.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.63% | 7.26% | +39.37% |
Dividends
WES vs. IBHH - Dividend Comparison
WES's dividend yield for the trailing twelve months is around 8.31%, more than IBHH's 6.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBHH iShares iBonds 2028 Term High Yield and Income ETF | 6.27% | 6.39% | 6.93% | 6.65% | 5.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WES Western Midstream Partners, LP | 8.31% | 9.13% | 8.33% | 8.52% | 6.80% | 5.69% | 11.25% | 12.45% | 8.28% | 5.43% | 4.03% | 3.86% |
Frequently Asked Questions
WES and IBHH have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WES has higher volatility (9.11%) compared to IBHH (0.77%). In terms of maximum drawdown, WES dropped -93.66% vs IBHH's -12.05%.
IBHH currently has the higher Sharpe Ratio (2.35 vs 1.33), 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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