IBHG vs MYHB

IBHGAiShares iBonds 2027 Term High Yield and Income ETF

MYHBCState Street My2028 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.

MYHB A single-year slice of the junk bond market with an end date: MYHB holds high yield corporates maturing around 2028, then pays out remaining principal and closes. The twist is that it is actively run, part of State Street's first active target-maturity lineup rather than an index rung.

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.

MYHB The fund is actively managed to provide primarily high-yield corporate-bond exposure maturing in 2028. 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.

• MYHB Behaves more like a bond than a bond fund: it targets high yield corporates maturing in 2028, then pays out remaining principal and liquidates on or about December 15 that year.statestreet.com
• Active credit picking inside a ladder rung: State Street pioneered actively managed corporate target-maturity ETFs in 2024, so a manager screens issuers rather than an index.statestreet.com
• Roughly 130 bonds, so one troubled issuer is a dent rather than the whole story, and income lands quarterly.

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.

• MYHB The 0.39% fee is the price of the active layer. Index-built rungs from the iBonds (IBDU) and BulletShares (BSCT) families charge a fraction of that.
• Young, small and thinly traded next to the big ladder franchises, so the spread you pay getting in and out can matter as much as the fee.
• High yield means credit risk: issuers can default or get downgraded, and the 2028 payout depends on those bonds reaching the finish line.ssga.com

Full IBHG profile⁠

Full MYHB profile⁠