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YLD vs. IBHE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

YLD vs. IBHE

Last updated Jun 4, 2026

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. Over the past 5 years, YLD returned 4.74%/yr vs 3.89%/yr for IBHE. 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

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Active High Yield ETF (YLD) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

YLD

1D
-0.37%
1M
0.47%
YTD
2.83%
6M
3.33%
1Y
7.36%
3Y*
8.85%
5Y*
4.74%
10Y*
5.80%

IBHE

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.09%
1Y
2.31%
3Y*
6.07%
5Y*
3.89%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

YLD vs. IBHE - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
YLD
Principal Active High Yield ETF		2.83%6.55%9.19%12.93%-8.78%9.17%1.50%6.59%
IBHE
iShares iBonds 2025 Term High Yield & Income ETF		0.00%4.45%7.62%10.32%-4.08%4.40%4.16%5.91%

Correlation

The correlation between YLD and IBHE is 0.04, 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

0.04

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

0.35

Correlation (5Y)
Calculated over the trailing 5-year period

0.47

Correlation (All Time)
Calculated using the full available price history since May 10, 2019

0.51

Over the past year, the correlation between YLD and IBHE has dropped to 0.04 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

YLD vs. IBHE - Sectors Allocation Comparison

Sectors
YLD
IBHE

Real Estate

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Real Estate

YLD
100.0%
IBHE
100.0%

Basic Materials

YLD

-

IBHE

-

Communication Services

YLD

-

IBHE

-

Consumer Cyclical

YLD

-

IBHE

-

Consumer Defensive

YLD

-

IBHE

-

Energy

YLD

-

IBHE

-

Financial Services

YLD

-

IBHE

-

Healthcare

YLD

-

IBHE

-

Industrials

YLD

-

IBHE

-

Technology

YLD

-

IBHE

-

Utilities

YLD

-

IBHE

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Principal Active High Yield ETF

iShares iBonds 2025 Term High Yield & Income ETF

Often compared with YLD:
YLD vs. IHYYLD vs. PHYLYLD vs. WFHYYLD vs. FXAIXYLD vs. IWMYLD vs. HYGHYLD vs. SPY
Often compared with IBHE:
IBHE vs. IBTEIBHE vs. IBHDIBHE vs. CLOAIBHE vs. EIFAXIBHE vs. NUHYIBHE vs. DBSCXIBHE vs. ICSH

Return for Risk

YLD vs. IBHE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
YLD
YLD Risk / Return Rank: 5959
Overall Rank
YLD Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
YLD Sortino Ratio Rank: 5252
Sortino Ratio Rank
YLD Omega Ratio Rank: 5050
Omega Ratio Rank
YLD Calmar Ratio Rank: 7474
Calmar Ratio Rank
YLD Martin Ratio Rank: 6969
Martin Ratio Rank
IBHE
IBHE Risk / Return Rank: 9797
Overall Rank
IBHE Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
IBHE Sortino Ratio Rank: 9797
Sortino Ratio Rank
IBHE Omega Ratio Rank: 9898
Omega Ratio Rank
IBHE Calmar Ratio Rank: 9898
Calmar Ratio Rank
IBHE Martin Ratio Rank: 9898
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.

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.

YLDIBHEDifference
Sharpe ratioReturn per unit of total volatility
1.71
3.51

-1.81

Sortino ratioReturn per unit of downside risk
2.57
6.33

-3.77

Omega ratioGain probability vs. loss probability

1.32

2.19

-0.87

Calmar ratioReturn relative to maximum drawdown

3.74

12.78

-9.05

Martin ratioReturn relative to average drawdown

12.96

63.40

-50.44

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

YLD vs. IBHE - Sharpe Ratio Comparison

The current YLD Sharpe Ratio is 1.71, which is lower than the IBHE Sharpe Ratio of 3.51. The chart below compares the historical Sharpe Ratios of YLD and IBHE, 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

YLDIBHEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.71

3.51

-1.81

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.75

0.83

-0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.71

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.41

+0.24

Drawdowns

YLD vs. IBHE - Drawdown Comparison

The maximum YLD drawdown since its inception was -28.34%, which is greater than IBHE's maximum drawdown of -26.91%. Use the drawdown chart below to compare losses from any high point for YLD and IBHE.

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Drawdown Indicators

YLDIBHEDifference

Max Drawdown

Largest peak-to-trough decline

-28.34%

-26.91%

-1.43%

Max Drawdown (1Y)

Largest decline over 1 year

-1.98%

-0.22%

-1.76%

Max Drawdown (3Y)

Largest decline over 3 years

-5.62%

-0.94%

-4.68%

Max Drawdown (5Y)

Largest decline over 5 years

-13.89%

-8.51%

-5.38%

Max Drawdown (10Y)

Largest decline over 10 years

-28.34%

—

—

Current Drawdown

Current decline from peak

-0.37%

0.00%

-0.37%

Average Drawdown

Average peak-to-trough decline

-2.70%

-1.42%

-1.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.57%

0.05%

+0.52%

Volatility

YLD vs. IBHE - Volatility Comparison

Principal Active High Yield ETF (YLD) has a higher volatility of 1.32% compared to iShares iBonds 2025 Term High Yield & Income ETF (IBHE) at 0.00%. This indicates that YLD's price experiences larger fluctuations and is considered to be riskier than IBHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

YLDIBHEDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.32%

0.00%

+1.32%

Volatility (6M)

Calculated over the trailing 6-month period

3.51%

0.39%

+3.12%

Volatility (1Y)

Calculated over the trailing 1-year period

4.34%

0.78%

+3.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.40%

4.87%

+1.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.21%

11.53%

-3.32%

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%, more than IBHE's 2.29% yield.

PositionTTM20252024202320222021202020192018201720162015
IBHE
iShares iBonds 2025 Term High Yield & Income ETF		2.29%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 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

YLD has higher volatility (1.32%) compared to IBHE (0.00%). In terms of maximum drawdown, YLD dropped -28.34% vs IBHE's -26.91%.

On 5-year performance, YLD leads with 4.74% vs 3.89% for IBHE. On fees, IBHE is cheaper at 0.35% per year. On volatility, IBHE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, YLD has performed better with a 4.74% return vs 3.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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 2.29% for IBHE.

They also come from different issuers: Principal and iShares. Their fees differ too: 0.39% for YLD and 0.35% for IBHE.

IBHE currently has the higher Sharpe Ratio (3.51 vs 1.71), 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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