IBHG vs MYHC

IBHGAiShares iBonds 2027 Term High Yield and Income ETF

MYHCCState Street My2029 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.

MYHC A 2029 rung of a bond ladder built from junk bonds instead of blue chips. Actively managed, and designed to pay out remaining principal and wind down on or about December 15, 2029, giving it the end date most bond funds never have.

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.

MYHC The fund uses an actively managed target-maturity strategy focused primarily on high-yield corporate bonds maturing in 2029. It is designed to distribute remaining principal and liquidate around December 15, 2029.

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.

• MYHC Has a finish line: built to distribute any remaining principal and liquidate on or about December 15, 2029, so it behaves more like a single bond than a fund that rolls its holdings forever.ssga.com
• Actively managed rather than rules-based, so the team chooses which 2029 high yield bonds to hold and which credits to leave alone.ssga.com
• Fills the high yield slot in a category built mostly of investment-grade and Treasury ladders (iShares iBonds Dec 2029 Term Corporate, iBonds Dec 2029 Term Treasury, BulletShares 2029 Corporate).
• Spreads credit risk across roughly 160 bonds instead of one issuer, and pays distributions 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.

• MYHC At 0.39% a year, it costs meaningfully more than index-run 2029 ladders such as IBDU and BSCT at 0.10%.
• High yield means real default risk: what comes back at wind-up depends on the bonds actually paying, not on a fixed par value.
• A small fund launched in 2026 and thinly traded, so bid-ask spreads can be wide.

Full IBHG profile⁠

Full MYHC profile⁠