IBHLvsSPHYETF Comparison
ETF 1
IBHL
iShares iBonds 2032 Term High Yield and Income ETF
This fund is part of
US Corporate HY Bonds
-0.07%
VS
ETF 2
SPHY
State Street SPDR Portfolio High Yield Bond ETF
This fund is part of
US Corporate HY Bonds
-0.07%
iShares iBonds 2032 Term High Yield and Income ETF (IBHL) and State Street SPDR Portfolio High Yield Bond ETF (SPHY) belong to the same industry segment: US Corporate HY Bonds. Both ETFs have the same top 3 sector exposures: Finance, Consumer Services and Industrials. IBHL is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.05% for SPHY. IBHL is down -0.76% year-to-date (YTD) with +$23M in YTD flows. SPHY performs better with 0.07% YTD performance, and +$1.83B in YTD flows. Run a side-by-side ETF comparison of IBHL and SPHY below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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IBHL vs SPHY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/19/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IBHL SPHY | -2.02%-1.90% | -2.30%-2.01% | -0.76%+0.07% | +0.90%+1.41% | n/a+28.36% | n/a+20.24% |
| Flows | IBHL SPHY | +$5M-$19M | +$10M+$658M | +$23M+$1.83B | +$25M+$2.74B | -+$9.77B | -+$11.73B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IBHL SPHY | +3.58%+3.03% | +3.28%+2.70% | n/a+3.19% | n/a+4.64% |
| Max drawdown | IBHL SPHY | -3.41%-2.79% | -3.41%-2.79% | n/a-3.97% | n/a-14.44% |
| Max drawdown duration | IBHL SPHY | 53d53d | 53d53d | n/a75d | n/a715d |
Trading data
IBHL | SPHY | |
Last sale 10/20/2026 at 1:30 PM | $24.36 | $22.43 |
| Previous close 10/19/2026 | $24.36 | $22.44 |
| Consolidated volume 10/19/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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IBHL | SPHY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/20/2026 at 1:30 PM
Live
Closed
IBHL | SPHY | |
|---|---|---|
| Last price | $24.36 | $22.43 |
| 1D performance | +0.00% | -0.04% |
| AuM | $33.99 M | $11.68 B |
| E/R | 0.35% | 0.05% |
Characteristics
IBHL | SPHY | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | State Street Investment Management |
| Benchmark | Bloomberg 2032 Term High Yield and Income Index | ICE BofA US High Yield Index |
| N° of holdings | 217 | 1857 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 25, 2025 | June 18, 2012 |
| ESG | No | No |
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Exposure
Countries
IBHL
USA
86.18%
Other
13.82%
SPHY
USA
84.81%
Other
15.19%
Sectors
IBHL
Finance
15.02%
Consumer Services
13.4%
Industrials
11.1%
Healthcare
10.1%
Business Services
9.57%
Energy
8.49%
Other
32.31%
SPHY
Finance
17.06%
Consumer Services
11.72%
Industrials
11.31%
Energy
9.31%
Non-Energy Materi.
8.35%
Business Services
7.01%
Other
35.25%
Diversification
IBHL
Total weight of top 15 holdings out of 15
19.49%
SPHY
Total weight of top 15 holdings out of 15
4.27%
Top 15 holdings
Data as of August 31, 2026
IBHL
1261229 B.C., 10% 15apr2032, USD
3.05%
Quikrete Holdings, 6.375% 1mar2032, USD
2.14%
BlackRock Cash Funds - Treasury
1.39%
CCO Holdings, 4.5% 1may2032, USD
1.33%
Beacon Roofing Supply, 6.75% 30apr2032, USD
1.23%
TransDigm, 6.625% 1mar2032, USD
1.20%
Venture Global LNG, 9.875% 1feb2032, USD
1.11%
IQVIA Holdings, 6.25% 1jun2032, USD
1.07%
Block, 6.5% 15may2032, USD
1.07%
PetSmart, 7.5% 15sep2032, USD
1.06%
Hub International, 7.375% 31jan2032, USD
1.02%
Voyager Parent, 9.25% 1jul2032, USD
0.99%
Altice France (SFR Group), 6.5% 15apr2032, USD
0.94%
Warner Bros. Discovery, 4.279% 15mar2032, USD
0.93%
Cloud Software Group, 8.25% 30jun2032, USD
0.93%
SPHY
1261229 B.C., 10% 15apr2032, USD
0.47%
Meridian Arc HoldCo, 6.25% 30apr2031, USD
0.40%
EchoStar, 10.75% 30nov2029, USD
0.38%
PR RNO Property Owner 1, 6.5% 1may2031, USD
0.32%
Cloud Software Group, 6.5% 31mar2029, USD
0.29%
Cloud Software Group, 9% 30sep2029, USD
0.26%
RP Escrow Issuer, 7.125% 1jun2031, USD
0.26%
Quikrete Holdings, 6.375% 1mar2032, USD
0.25%
Nexstar Media, 6.5% 15sep2033, USD
0.25%
SV RNO Property Owner 1, 5.875% 1mar2031, USD
0.25%
Galaxy Helios Data Center II, 9.875% 1aug2031, USD
0.24%
TransDigm, 6.625% 1mar2032, USD
0.24%
American Airlines, 5.75% 20apr2029, USD
0.23%
Asurion LLC, 8% 31dec2032, USD
0.23%
Asurion LLC, 8.375% 1feb2034, USD
0.22%
Frequently asked questions about IBHL and SPHY
How have the IBHL and SPHY ETFs performed in 2026?
As of October 19, 2026, IBHL is down -0.76% year-to-date (YTD), while SPHY has returned 0.07%. That puts SPHY better performer ahead so far this year.
Which ETF is attracting more investor money: IBHL or SPHY?
Year-to-date, the IBHL ETF saw +$23M in flows, compared to +$1.83B for SPHY.
Which ETF is more volatile: IBHL or SPHY?
Over the past year, IBHL had a volatility of 3.28%, while SPHY experienced 2.7%.
Which ETF is bigger: IBHL or SPHY?
As of October 19, 2026, IBHL holds $33.99 M in assets under management (AUM), while SPHY manages $11.68 B.
What sectors do the IBHL and SPHY ETFs invest in?
IBHL leans toward sectors like Finance, Consumer Services and Industrials. Meanwhile, SPHY focuses on Finance, Consumer Services and Industrials.
What are the top holdings of the IBHL ETF and SPHY ETF?
IBHL top holdings include 1261229 B.C., 10% 15apr2032, USD, Quikrete Holdings, 6.375% 1mar2032, USD and BlackRock Cash Funds - Treasury. SPHY holds in its top three: 1261229 B.C., 10% 15apr2032, USD, Meridian Arc HoldCo, 6.25% 30apr2031, USD and EchoStar, 10.75% 30nov2029, USD.
Which ETF is more diversified: IBHL or SPHY?
IBHL holds 218 securities with 19.49% of its assets in the top 15. SPHY has 1883 securities and a top 15 weight of 4.27%.
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