YLD vs. IBHE
YLD (Principal Active High Yield ETF) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both High Yield Bonds funds. YLD is actively managed, while IBHE is passively managed. A 0.51 correlation means they provide meaningful diversification when combined. YLD charges 0.39%/yr vs 0.35%/yr for IBHE.
Performance
YLD vs. IBHE - Performance Comparison
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Returns By Period
YLD
- 1D
- 0.11%
- 1M
- 0.03%
- 6M
- 2.89%
- YTD
- 3.38%
- 1Y
- 6.14%
- 3Y*
- 8.39%
- 5Y*
- 4.80%
- 10Y*
- 5.49%
IBHE
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
YLD vs. IBHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
YLD Principal Active High Yield ETF | 3.38% | 6.55% | 9.19% | 12.93% | -8.78% | 9.17% | 1.50% | 6.43% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 0.00% | 4.45% | 7.62% | 10.32% | -4.08% | 4.40% | 4.16% | 5.49% |
Correlation
The correlation between YLD and IBHE is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since May 9, 2019 | 0.51 |
Over the past year, the correlation between YLD and IBHE has dropped to 0.02 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.
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Return for Risk
YLD vs. IBHE — Risk / Return Rank
YLD
IBHE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
YLD vs. IBHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Active High Yield ETF (YLD) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| YLD | IBHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.26 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | — | — |
| Martin ratioReturn relative to average drawdown | 10.73 | — | — |
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Drawdowns
YLD vs. IBHE - Drawdown Comparison
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Drawdown Indicators
| YLD | IBHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.34% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.62% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.89% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.34% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | — | — |
Average DrawdownAverage peak-to-trough decline | -2.68% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | — | — |
Volatility
YLD vs. IBHE - Volatility Comparison
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Volatility by Period
| YLD | IBHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.52% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.41% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.15% | — | — |
YLD vs. IBHE - Expense Ratio Comparison
YLD has a 0.39% expense ratio, which is higher than IBHE's 0.35% expense ratio.
Dividends
YLD vs. IBHE - Dividend Comparison
YLD's dividend yield for the trailing twelve months is around 7.27%, while IBHE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 1.87% | 4.53% | 6.92% | 7.17% | 5.77% | 4.84% | 5.74% | 3.73% | 0.00% | 0.00% | 0.00% | 0.00% |
YLD Principal Active High Yield ETF | 7.27% | 7.33% | 7.12% | 6.46% | 6.51% | 3.92% | 4.40% | 4.81% | 5.42% | 6.28% | 4.47% | 2.56% |
Frequently Asked Questions
YLD and IBHE have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBHE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBHE is cheaper with a 0.35% expense ratio, compared with 0.39% for YLD.
YLD has the higher dividend yield at 7.27%, compared with 1.87% for IBHE.
They also come from different issuers: Principal and iShares. Their fees differ too: 0.39% for YLD and 0.35% for IBHE.
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