IBHH vs MYHC

IBHHAiShares iBonds 2028 Term High Yield and Income ETF

MYHCCState Street My2029 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.

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

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.

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

• 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

• 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

• 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

• 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 IBHH profile⁠

Full MYHC profile⁠