BSJS vs IBHH

BSJSCInvesco BulletShares 2028 High Yield Corporate Bond ETF

IBHHAiShares iBonds 2028 Term High Yield and Income ETF

In short

BSJS Junk bonds with an end date. BSJS holds roughly 180 high-yield corporate bonds that all mature in 2028, then winds down around December 15, 2028 and pays out cash, so it behaves more like a single bond than a perpetual bond fund.

IBHH Bond ladders usually get built from investment-grade rungs. This is the high yield rung: junk and BBB corporates all maturing in 2028, with the fund itself winding up on or about December 15, 2028 and paying out what is left.

Stated mandate

BSJS The Fund seeks to track the performance of a high-yield corporate bond index composed of US-dollar-denominated bonds maturing in 2028. It uses sampling, rebalances monthly, and is scheduled to terminate around December 15, 2028.

IBHH The fund seeks to track an index of high-yield and income-generating corporate bonds maturing in 2028. It is designed to provide income, support bond-ladder construction, and manage interest-rate risk through a defined maturity.

Why people hold it

• BSJS Defined maturity: the fund is scheduled to terminate around December 15, 2028 and distribute cash, giving you a bond-like end date instead of a portfolio that rolls on forever.invesco.com
• Spreads credit risk across roughly 180 US-dollar high-yield bonds and pays monthly, instead of leaning on one junk issuer's coupon dates.
• Sibling BulletShares funds cover other maturity years (BSCT for 2029, BSCU for 2030), so ladder rungs come off a single shelf.invesco.com

• IBHH Behaves like a bond more than a bond fund: it terminates on or about December 15, 2028 and distributes its remaining net assets, so the rung has a real end date.sec.gov
• Credit risk is spread over a couple hundred corporate bonds, and the index pulls from BBB-rated issuers as well as high yield, so it is not all deep junk.sec.gov
• Pays monthly, and every iBonds fund terminates in the year in its name, so stacking or rolling ladder rungs comes down to picking dates.ishares.com

Worth knowing

• BSJS Fees run 0.42% a year versus roughly 0.10% for the typical target-maturity bond fund; investment-grade and Treasury rungs like VBCB (0.08%) and IBTJ (0.07%) cost far less.
• High yield means real default and downgrade risk, so the cash returned at termination reflects what the bonds actually pay, not a fixed par value.invesco.com
• In a peer group stacked with investment-grade and Treasury ladders, it lands in the lower half overall, with cost the main drag.

• IBHH Charges 0.35% a year against roughly 0.10% for the typical target-maturity bond ETF. Credit work costs more to run, but it is a standing drag.
• High yield carries genuine downgrade and default risk. The fund targets no predetermined amount at maturity, and losses are possible including near the termination date.sec.govishares.com
• In its final months the bonds mature into cash and cash-like instruments, and the fund's yield tends to move toward prevailing money market rates.ishares.com

Full BSJS profile⁠

Full IBHH profile⁠