GHYG vs IHY: Grades, Fees and Holdings Compared

iShares US & Intl High Yield Corp Bond ETF

GHYGBCboe

VanEck International High Yield Bond ETF

IHYBNYSE Arca

Overlap

0.0%by weight

Expense ratio

GHYG0.40%IHY0.40%

Avg volume · 30D

GHYG 1.9×the volume

GHYG17.7KIHY9.2K

10Y return · a year

GHYG +0.7pt

GHYG+4.2%IHY+3.5%

GHYG vs IHY Performance

Oct 29, 2021 – Oct 30, 2026

+16.3%GHYG+10.3%IHY

Expense ratio: GHYG 0.40%; IHY 0.40%
Fund size: GHYG $186M; IHY $39M
1Y total return: GHYG +0.7%, better; IHY −0.4%
Yield (12M): GHYG 6.47%, better; IHY 6.13%
Holdings: GHYG 1728; IHY 500
Avg volume (30D): GHYG 17.7K sh, better; IHY 9.2K sh
NAV per share: GHYG $43.29; IHY $20.70
52W range

ETF.net Grade

Pillar letters and Scores for GHYG, IHY, with each pillar’s weight
Pillar	GHYG	IHY
Cost30% weight	A70	A70
Mission25% weight	A81Higher	A76
Risk15% weight	D38	D38
Tradability15% weight	D38	C45Higher
Holdings10% weight	A99Higher	A78
Durability5% weight	A75Higher	B61

Rank among International High Yield Bond funds

How we build Categories ›

Same Category. GHYG and IHY are both graded against the same 13 International High Yield Bond funds, so their Grades compare head to head.

International High Yield Bond⁠

Category · 13 funds

See all 13 ›

GHYG ranks 3rd and IHY 5th of 13 funds in the International High Yield Bond Category.

Rank 1AHYDBiShares High Yield Systematic Bond ETFScore 81
Rank 2ASYFIAB Short Duration High Yield ETFScore 73
Rank 3BGHYGiShares US & Intl High Yield Corp Bond ETFScore 66
Rank 4BHYEMVanEck Emerging Markets High Yield Bond ETFScore 64
Rank 5BIHYVanEck International High Yield Bond ETFScore 63
Rank 5BPGHYInvesco Global ex-US High Yield Corporate Bond ETFScore 63

Our read on each fund

ETF.net Research

GHYGBiShares US & Intl High Yield Corp Bond ETF

IHYBVanEck International High Yield Bond ETF

In short

GHYG Most junk-bond ETFs stop at the US border. GHYG holds high-yield corporate debt from US and overseas issuers in one wrapper, spread across roughly 1,700 bonds, with income paid monthly.

IHY Most high yield ETFs are a bet on American borrowers. IHY flips the map: junk-rated bonds from non-US companies only, issued in dollars, euros, sterling and Canadian dollars, with no issuer allowed to hog the portfolio.

Stated mandate

GHYG The fund seeks to track an index of high-yield corporate bonds issued in the United States and abroad.

IHY The fund seeks to track, before fees and expenses, the price and yield performance of the ICE BofA Global ex-US Issuers High Yield Constrained Index.

Why people hold it

GHYG Passport included: tracks an index of high-yield corporate bonds issued in the US and abroad, while the biggest names in the category stick to USD-denominated paper.
Roughly 1,700 bonds in the basket, so one issuer's trouble is a rounding error. That breadth is among the strongest in its high-yield peer group.
Pays monthly, and has been running since its 2012 launch, so the record spans a full credit cycle rather than one calm stretch.

IHY The ex-US specialist in a cohort where the household names all buy US corporate paper. Its index takes below investment grade bonds from non-US issuers in the major domestic and Eurobond markets.vaneck.com
No single borrower can dominate. The index caps any one issuer at 3%, trimming the outliers, and the fund spreads across roughly 500 bonds.vaneck.com
Four currencies of issuance (US dollar, euro, pound sterling, Canadian dollar) widen the opportunity set well beyond the dollar-only high yield market.vaneck.com
Running since 2012 with monthly distributions and a plain passive index mandate. Long history for such a narrow corner of the bond market.

Worth knowing

GHYG The 0.40% fee sits right at the high-yield median, but USD-only trackers like SCYB (0.03%) and SPHY (0.05%) charge a fraction. Global reach is the line item you pay for.
Thinly traded with a modest asset base, so bid-ask spreads tend to run wider than the household-name high-yield funds.
This is below-investment-grade credit. Prices move with default worries, and stress in the credit market hits harder here than in a Treasury fund.

IHY Small and thinly traded, so bid-ask spreads tend to run wider than the category's giants. Trade size and timing matter more here.
0.40% is the cohort median, but the largest US-focused peers (SCYB, SPHY, USHY) charge a fraction of that. The ex-US mandate is what you're paying up for.
Monthly payouts can include return of capital, which the fund discloses. Part of a distribution may be your own principal coming back.

Full GHYG profile⁠

Full IHY profile⁠

GHYG vs IHY Holdings

How GHYG and IHY differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of GHYG and 0.0% of IHY.

Level by level

Holdings0 in both0.0%
Countryby domicile30.4%

Sector

No Sector split for IHY.

Country, concentration and asset class

Country by domicile

Country weights in GHYG and IHY, widest gap first
Country	More in GHYGMore in IHY	GHYG	IHY
United States	GHYG +69.5 points	73.6%	4.1%
Turkey	IHY +12.8 points	0.0%	12.8%
Luxembourg	IHY +8.5 points	1.7%	10.2%
Netherlands	IHY +7.4 points	1.3%	8.7%
France	IHY +5.4 points	5.9%	11.3%
United Kingdom	IHY +5.4 points	5.6%	11.0%
Mexico	IHY +4.8 points	0.0%	4.8%
Canada	IHY +4.1 points	3.4%	7.5%
Other countries (25)	IHY +21.1 points	8.5%	29.6%

Outside the US: GHYG 100% developed, 0% emerging. IHY 71% developed, 29% emerging.

Concentration

Weight in the 10 largest Holdings

GHYG3.6%
IHY5.6%

Securities held

GHYG1,718
IHY358

Asset class

GHYG: Fixed Income
IHY: Multi-Asset

Holdings

Only in GHYG1,718
In both0
Only in IHY358

Only in GHYG

1,718 securities, 98.4% of GHYG by weight

1261229 Bc Ltd 144A 10.00% 04/15/20320.34%
Meridian Arc Holdco Llc 144A 6.25% 04/30/20310.32%
Softbank Group Corp 144A 9.75% 04/01/20340.29%
Softbank Group Corp 144A 9.25% 04/01/20320.29%
Pr Rno Property Owner 1 Llc 144A 6.50% 05/01/20310.27%
Quikrete Holdings Inc 144A 6.38% 03/01/20320.26%
Cloud Software Group Llc 144A 9.00% 09/30/20290.24%
Cloud Software Group Llc 144A 6.50% 03/31/20290.24%
Galaxy Helios Data Centers Ii Llc 144A 9.88% 08/01/20310.22%
Sv Rno Property Owner 1 Llc 144A 5.88% 03/01/20310.21%
Core Scientific Finance I Llc 144A 7.75% 05/15/20310.21%
Hub International Ltd 144A 7.25% 06/15/20300.20%
Venture Global Lng Inc 144A 9.50% 02/01/20290.20%
Centene Corporation 4.63% 12/15/20290.20%
Wulf Compute Llc 144A 7.75% 10/15/20300.20%
Asurion Llc 144A 8.00% 12/31/20320.20%
Nexstar Media Inc 144A 6.50% 09/15/20330.20%
Paramount Skydance Corp 144A 8.25% 10/15/20310.20%
Mpt Operating Partnership Lp / Mpt 144A 9.25% 02/15/20320.20%
Transdigm Inc 144A 6.75% 01/31/20350.19%
Oak Eagle Acquireco Inc 144A 7.25% 07/01/20330.19%
Panther Escrow Issuer Llc 144A 7.13% 06/01/20310.19%
Air Canada 144A 4.63% 08/15/20290.18%
Neptune Bidco Us Inc 144A 9.29% 04/15/20290.18%
Emrld Borrower Lp 144A 6.63% 12/15/20300.17%
Echostar Corp 6.75% 11/30/20300.17%
Transdigm Inc 144A 6.38% 03/01/20290.17%
Transdigm Inc 144A 6.38% 05/31/20330.17%
Oak Eagle Acquireco Inc 144A 8.75% 07/01/20340.17%
Aadvantage Loyalty Ip Ltd 144A 5.75% 04/20/20290.17%
Davita Inc 144A 4.63% 06/01/20300.17%
Mauser Packaging Solutions Holding 144A 7.88% 04/15/20300.17%
Cco Holdings Llc 144A 4.75% 03/01/20300.17%
Beach Acquisition Bidco Llc 144A 10.00% 07/15/20330.17%
Directv Financing Llc 144A 8.88% 02/01/20300.16%
Paramount Skydance Corp 144A 8.88% 10/15/20340.16%
1011778 Bc Unlimited Liability Co 144A 4.00% 10/15/20300.16%
Apld Computeco Llc 144A 9.25% 12/15/20300.16%
Carrix Inc 144A 6.13% 08/01/20330.16%
Ukg Inc 144A 6.88% 02/01/20310.15%
Nissan Motor Co Ltd 144A 4.81% 09/17/20300.15%
Staples Inc 144A 10.75% 09/01/20290.15%
Allied Universal Holdco Llc 144A 7.88% 02/15/20310.15%
BELLIS ACQUISITION COMPANY PLC RegS 8.13% 05/14/20300.15%
Cco Holdings Llc 144A 4.25% 02/01/20310.15%
Athenahealth Group Inc 144A 6.50% 02/15/20300.15%
Cco Holdings Llc 4.50% 05/01/20320.15%
Csdc Finance I Llc 144A 7.88% 10/01/20310.15%
Echostar Corp 10.75% 11/30/20290.15%
Cco Holdings Llc 144A 5.00% 02/01/20280.15%

Only in IHY

358 securities, 98.9% of IHY by weight

Petroleos Mexicanos3.23%
Softbank Group Corp2.27%
Ecopetrol Sa1.56%
Petrobras Global Finance Bv1.30%
Electricite De France Sa1.14%
Altice France Sa1.05%
Fibercop Spa1.03%
Vmed O2 Uk Financing I Plc0.98%
Vodafone Group Plc0.96%
Telefonica Europe Bv0.88%
Ypf Sa0.78%
Nissan Motor Co Ltd0.77%
Cpi Property Group Sa0.73%
First Quantum Minerals Ltd0.65%
Gfl Environmental Inc0.64%
Telecom Italia Capital Sa0.63%
Bayer Ag0.60%
Iliad Sa0.60%
Telus Corp0.59%
Forvia Se0.58%
Mineral Resources Ltd0.57%
Ineos Finance Plc0.57%
Iho Verwaltungs Gmbh0.57%
Schaeffler Ag0.57%
Edp Sa0.56%
Zf Europe Finance Bv0.56%
Grupo Nutresa Sa0.56%
Mundys Spa0.56%
Ses Sa0.56%
Valeo Se0.56%
Zf North America Capital Inc0.56%
Veolia Environnement Sa0.55%
Ardonagh Finco Ltd0.55%
Iliad Holding Sas0.55%
Infrastrutture Wireless Italiane Spa0.54%
Yapi Ve Kredi Bankasi As0.53%
Samarco Mineracao Sa0.52%
Azule Energy Finance Plc0.52%
Ion Platform Finance Us Inc / Ion Platf0.51%
Stellantis Nv0.51%
Turkiye Ihracat Kredi Bankasi As0.50%
Sunrise Finco I Bv0.50%
Vedanta Resources Finance Ii Plc0.50%
Rogers Communications Inc0.50%
Dar Al-Arkan Sukuk Co Ltd0.49%
Vz Vendor Financing Ii Bv0.48%
Bell Telephone Co Of Canada Or Bell Can0.48%
Bombardier Inc0.47%
Rakuten Group Inc0.46%
Omniyat Sukuk 1 Ltd0.46%

Weight gaps

GHYG and IHY share no securities.

All 1,732 GHYG holdings⁠All 539 IHY holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

GHYG vs IHY Cost

Same expense ratio

$8,090

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

GHYG 0.40%
$8,090
IHY 0.40%
$8,090

Amount$10,000

Years30 years

Cost over time

GHYG 0.40%
IHY 0.40%

Year by year

Year	GHYG	IHY
10	$723	$723
20	$2,793	$2,793
30	$8,090	$8,090

Expense ratio

0.40%GHYG
0.40%IHY

GHYG0.40%IHY0.40%

0.35%0.69%

Middle half of International High Yield Bond funds
Median 0.46%

GHYG 3rd cheapest of 13 funds

IHY 3rd cheapest of 13 funds

GHYG vs IHY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GHYG 6.47%, better; IHY 6.13%
Payout (12M): GHYG $2.82; IHY $1.27
Last payment: GHYG $0.23; IHY $0.11
Ex-dividend: GHYG Oct 1, 2026; IHY Oct 1, 2026
Paid on: GHYG Oct 6, 2026; IHY Oct 6, 2026
Frequency: GHYG Monthly; IHY Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GHYGMonthly · 45 paymentsAll GHYG payments⁠

IHYMonthly · 45 paymentsAll IHY payments⁠

GHYG vs IHY Risk

Fall from peak · 5 years

GHYG
IHY

Risk facts

VolatilityStd dev, 3 years: GHYG 5.5%, betterIHY 6.1%
Return per unit of riskSharpe ratio, 3 years: GHYG 0.70, betterIHY 0.57
Worst fallMax drawdown, 5 years: GHYG −19.7%, betterIHY −24.2%
Market sensitivityBeta, 5 years: GHYG 0.74IHY 0.77; Market = 1

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