IBHH vs MYHB

IBHHAiShares iBonds 2028 Term High Yield and Income ETF

MYHBCState Street My2028 High Yield Corporate Bond ETF

In short

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.

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

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.

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

• 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

• 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

• 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

• 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 IBHH profile⁠

Full MYHB profile⁠