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XB vs. USHY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XB vs. USHY

Last updated Jun 5, 2026

XB (BondBloxx B Rated USD High Yield Corporate Bond ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - XB tracks the ICE BofA Single-B US Cash Pay High Yield Constrained Index while USHY tracks the ICE BofA US High Yield Constrained. Both are passively managed. Over the past 3 years, XB returned 8.50%/yr vs 9.01%/yr for USHY. Their correlation of 0.89 suggests significant overlap in exposure. XB charges 0.30%/yr vs 0.15%/yr for USHY.

Performance

XB vs. USHY - Performance Comparison

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

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Returns By Period

In the year-to-date period, XB achieves a 1.99% return, which is significantly higher than USHY's 1.64% return.

XB

1D
0.17%
1M
0.64%
YTD
1.99%
6M
2.60%
1Y
7.31%
3Y*
8.50%
5Y*
—
10Y*
—

USHY

1D
0.22%
1M
0.46%
YTD
1.64%
6M
1.98%
1Y
6.99%
3Y*
9.01%
5Y*
4.29%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XB vs. USHY - Yearly Performance Comparison

2026 (YTD)2025202420232022
XB
BondBloxx B Rated USD High Yield Corporate Bond ETF		1.99%7.81%7.41%12.94%-4.25%
USHY
iShares Broad USD High Yield Corporate Bond ETF		1.64%8.81%8.45%12.73%-3.94%

Correlation

The correlation between XB and USHY is 0.87, 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

0.87

Correlation (3Y)
Calculated over the trailing 3-year period

0.85

Correlation (All Time)
Calculated using the full available price history since May 27, 2022

0.89

The correlation between XB and USHY has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

XB vs. USHY - Sectors Allocation Comparison

Sectors
XB
USHY

Industrials

9.9%

-

Consumer Cyclical

9.3%

-

Energy

5.2%
99.2%

Communication Services

5.2%

-

Technology

5.0%

-

Healthcare

4.3%

-

Basic Materials

4.1%

-

Real Estate

3.1%
0.8%

Consumer Defensive

3.0%

-

Financial Services

2.3%

-

Utilities

1.1%

-

Industrials

XB
9.9%
USHY

-

Consumer Cyclical

XB
9.3%
USHY

-

Energy

XB
5.2%
USHY
99.2%

Communication Services

XB
5.2%
USHY

-

Technology

XB
5.0%
USHY

-

Healthcare

XB
4.3%
USHY

-

Basic Materials

XB
4.1%
USHY

-

Real Estate

XB
3.1%
USHY
0.8%

Consumer Defensive

XB
3.0%
USHY

-

Financial Services

XB
2.3%
USHY

-

Utilities

XB
1.1%
USHY

-

Compare stocks, funds, or ETFs

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BondBloxx B Rated USD High Yield Corporate Bond ETF

iShares Broad USD High Yield Corporate Bond ETF

Often compared with XB:
XB vs. XCCCXB vs. BOXXXB vs. SCYBXB vs. CLOZXB vs. BBHYXB vs. HYBLXB vs. HYGH
Often compared with USHY:
USHY vs. HYGUSHY vs. SPHYUSHY vs. HYSUSHY vs. JNKUSHY vs. BKLNUSHY vs. HYLBUSHY vs. SPY

Return for Risk

XB vs. USHY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XB
XB Risk / Return Rank: 6868
Overall Rank
XB Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
XB Sortino Ratio Rank: 6767
Sortino Ratio Rank
XB Omega Ratio Rank: 6666
Omega Ratio Rank
XB Calmar Ratio Rank: 6969
Calmar Ratio Rank
XB Martin Ratio Rank: 7979
Martin Ratio Rank
USHY
USHY Risk / Return Rank: 6363
Overall Rank
USHY Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
USHY Sortino Ratio Rank: 6464
Sortino Ratio Rank
USHY Omega Ratio Rank: 6363
Omega Ratio Rank
USHY Calmar Ratio Rank: 5959
Calmar Ratio Rank
USHY Martin Ratio Rank: 7171
Martin Ratio Rank
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.

XB vs. USHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx B Rated USD High Yield Corporate Bond ETF (XB) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.

XBUSHYDifference
Sharpe ratioReturn per unit of total volatility
1.97
1.93

+0.04

Sortino ratioReturn per unit of downside risk
3.03
2.90

+0.13

Omega ratioGain probability vs. loss probability

1.39

1.37

+0.02

Calmar ratioReturn relative to maximum drawdown

3.40

2.89

+0.51

Martin ratioReturn relative to average drawdown

14.93

12.99

+1.94

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XB vs. USHY - Sharpe Ratio Comparison

The current XB Sharpe Ratio is 1.97, which is comparable to the USHY Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of XB and USHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

XBUSHYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.97

1.93

+0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.59

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.85

0.58

+0.27

Drawdowns

XB vs. USHY - Drawdown Comparison

The maximum XB drawdown since its inception was -9.25%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for XB and USHY.

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Drawdown Indicators

XBUSHYDifference

Max Drawdown

Largest peak-to-trough decline

-9.25%

-22.44%

+13.19%

Max Drawdown (1Y)

Largest decline over 1 year

-2.16%

-2.43%

+0.27%

Max Drawdown (3Y)

Largest decline over 3 years

-5.36%

-4.66%

-0.70%

Max Drawdown (5Y)

Largest decline over 5 years

—

-15.56%

—

Current Drawdown

Current decline from peak

-0.29%

-0.06%

-0.23%

Average Drawdown

Average peak-to-trough decline

-1.32%

-2.66%

+1.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.49%

0.54%

-0.05%

Volatility

XB vs. USHY - Volatility Comparison

BondBloxx B Rated USD High Yield Corporate Bond ETF (XB) has a higher volatility of 1.37% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.14%. This indicates that XB's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XBUSHYDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.37%

1.14%

+0.23%

Volatility (6M)

Calculated over the trailing 6-month period

2.97%

2.92%

+0.05%

Volatility (1Y)

Calculated over the trailing 1-year period

3.74%

3.65%

+0.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.44%

7.34%

+0.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.44%

8.25%

-0.81%

XB vs. USHY - Expense Ratio Comparison

XB has a 0.30% expense ratio, which is higher than USHY's 0.15% expense ratio.

Dividends

XB vs. USHY - Dividend Comparison

XB's dividend yield for the trailing twelve months is around 7.07%, more than USHY's 6.91% yield.

PositionTTM202520242023202220212020201920182017
USHY
iShares Broad USD High Yield Corporate Bond ETF		6.91%6.79%6.89%6.63%6.08%5.07%5.30%5.92%6.30%0.73%
XB
BondBloxx B Rated USD High Yield Corporate Bond ETF		7.07%6.96%7.74%7.87%5.01%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XB and USHY have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XB has higher volatility (1.37%) compared to USHY (1.14%). In terms of maximum drawdown, XB dropped -9.25% vs USHY's -22.44%.

On 3-year performance, USHY leads with 9.01% vs 8.50% for XB. On fees, USHY is cheaper at 0.15% per year. On volatility, USHY has been the lower-risk option at 1.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, USHY has performed better with a 9.01% return vs 8.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

USHY is cheaper with a 0.15% expense ratio, compared with 0.30% for XB.

XB has the higher dividend yield at 7.07%, compared with 6.91% for USHY.

XB tracks ICE BofA Single-B US Cash Pay High Yield Constrained Index, while USHY tracks ICE BofA US High Yield Constrained. They also come from different issuers: BondBloxx and iShares. Their fees differ too: 0.30% for XB and 0.15% for USHY.

XB currently has the higher Sharpe Ratio (1.97 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.

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