IBHG vs MYHA

IBHGAiShares iBonds 2027 Term High Yield and Income ETF

MYHACState Street My2027 High Yield Corporate Bond ETF

In short

IBHG Most target-maturity bond ETFs stick to Treasuries and investment grade. IBHG runs the same ladder-rung playbook in high yield: a basket of dollar-denominated junk and other income bonds all maturing in 2027.

MYHA A junk-bond fund with an expiration date. MYHA holds about 100 high yield corporate bonds maturing in 2027, then pays out the remaining principal and winds up around December 15, 2027: bond-style maturity, ETF wrapper.

Stated mandate

IBHG The fund seeks to track an index of U.S.-dollar-denominated, high-yield and other income-generating corporate bonds maturing in 2027.

MYHA The fund is actively managed to invest primarily in high-yield corporate bonds maturing in 2027, with remaining principal distributed and the fund liquidated around December 15, 2027. It seeks current income and capital preservation through bottom-up security selection.

Why people hold it

• IBHG A rare rung: it tracks the Bloomberg 2027 Term High Yield and Income Index, so you get a dated high yield slice instead of a bond fund that rolls its maturities forever.
• The 2027 end date sits in the mandate itself, which is what makes ladder-building possible: stack terms, know when each rung comes due.
• Income lands monthly, and credit risk is spread across roughly 90 bonds rather than a handful of names.

• MYHA Matures like a bond rather than rolling forever: it targets 2027 corporate paper, distributes remaining principal and liquidates around December 15, 2027.
• State Street runs it actively, picking bonds bottom up against the ICE 2027 Maturity US High Yield Index instead of mechanically replicating a ladder.
• Goes where most target-maturity shelves stop: below investment grade, seeking current income and capital preservation over a short, fixed life.
• Income lands quarterly, and because every holding is aimed at a 2027 maturity, interest-rate sensitivity mechanically shrinks as the wind-up date nears.

Worth knowing

• IBHG It charges 0.35% a year against a target-maturity cohort that typically runs near 0.10%. High yield credit work costs more than buying Treasuries.
• High yield means issuer default and downgrade risk, a different animal from the Treasury and investment-grade rungs of the same shelf (IBTJ, IBDU).
• The clock cuts both ways. As 2027 approaches the portfolio shortens and the fund is built to wind down, not to keep running.

• MYHA The 0.39% fee sits well above the index-run maturity ladders it competes with, such as IBDU and BSCT, which is a real bite on a short-lived income holding.
• Launched in 2026 and still small, it trades thinly, so bid-ask spreads can run wider than on the established target-maturity funds.
• High yield means credit risk. Capital preservation is the stated goal, not a promise, and unlike a single bond there is no fixed maturity value per share.

Full IBHG profile⁠

Full MYHA profile⁠