iShares US & Intl High Yield Corp Bond ETF

iShares US & Intl High Yield Corp Bond ETF (GHYG) tracks the Markit iBoxx Global Developed Markets High Yield Index. That index holds "junk" corporate bonds, meaning bonds rated below investment grade, issued in US dollars, euros, British pounds and Canadian dollars. Unlike dollar-only funds such as HYG, only about 62% of its assets were in US companies as of July 31, 2026. It charges 0.40% a year and pays income monthly.

• Over the year to Oct 27, 2026, GHYG returned -0.1%, 8th of 8 among similar funds.
• Its 5-year annualized return was +3.0% and its 10-year +4.1%.
• In the 2020 COVID crash it fell 27.1% and regained its old high 4.2 months after the low.
• Its worst full calendar year was 2022 (-12.2%); its best was 2016 (+13.8%).
• The deepest fall in its price history was 27.4% (Jan 15, 2020 to Mar 23, 2020), recovered by Aug 6, 2020.

As of Jul 31, 2026, the fund held 1,734 securities; the ten largest made up 2.42% of assets, and 10.67% sat in cash and money-market holdings.

The bonds mature in 5.8 years on average (weighted by size), with an average coupon of 6.28%.

• Over the three months to Jul 31, 2026, investors withdrew a net $4.6M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.39%, -0.22%, -0.10%.

The index is run by Markit Indices Limited. It includes high-yield corporate bonds from companies based in countries Markit classifies as developed markets. Bonds are weighted by market value, so larger debt issues count for more. No single issuer can exceed 3%, and there is no limit on the number of bonds. As of July 31, 2026, the fund held 1,734 holdings, and the top 10 made up just 2.42% of assets. The largest were Meridian Arc Holdco LLC (0.33%), 1261229 BC Ltd (0.32%) and PR RNO Property Owner 1 LLC (0.26%).

BlackRock uses "representative sampling." Instead of buying every bond in the index, it holds a sample that matches the index on sector, credit ratings, yield and duration. Duration measures how much a bond's price moves when interest rates change. The fund must keep at least 80% of assets in index bonds and at least 90% in similar fixed-income securities. It may put up to 10% in futures, options, swaps or other bonds, but it held no derivatives as of July 31, 2026. It also buys privately issued Rule 144A bonds and may lend out up to one-third of its assets.

The fund never takes defensive positions when markets fall. Its average maturity was 5.8 years and its average coupon was 6.28% as of July 31, 2026. Because its value is figured in US dollars, a weaker euro, pound or Canadian dollar can lower it.

• GHYG charges 0.4% a year, versus an average of 0.45% for the similar funds below (4th of 8, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $41 in the first year and $505 over 10 years (assuming a 5% annual return).

GHYG's main appeal is monthly interest income from a broad basket of junk bonds from developed-market companies, not stability or growth.

GHYG had a trailing 12-month yield of 6.44% as of October 27, 2026, paid monthly. It costs 0.40% a year. In the SEC's standard example, that comes to $41 in the first year on $10,000. The trade-off is that junk bonds tend to fall when stocks do. The fund launched in April 2012, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 27.1% in about a month and recovered by July 29, 2020. In 2022, when rates rose, it fell 19.2% and took about 15 months to recover. Its worst calendar year was 2022, at -12.57%.

A retiree who had to sell during those stretches would have locked in losses. Some investors keep near-term spending money in cash or higher-quality bonds for that reason. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by bond funds with the closest average maturity and issuer mix (N-PORT).