BHK vs IEF: Correlation
Blackrock Core Bond Trust (BHK) and iShares 7-10 Year Treasury Bond ETF (IEF) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHK and IEF?
Over the past 3 years, BHK and IEF moved with a correlation of 0.71, which is strong. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 57.0 %².
By 3-year correlation, IEF places #6 of the 17 assets tracked against BHK. Neither side won the trailing year by much: +4.2% against +0.9%. One caveat on sizing: BHK is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BHK vs IEF: side by side
| BHK (Blackrock Core Bond Trust) | IEF (iShares 7-10 Year Treasury Bond ETF) | |
|---|---|---|
| 1-year return | +4.2% | +0.9% |
| 5-year return | -15.3% | -7.9% |
| Volatility (ann.) | 12.4% | 6.5% |
| Beta vs S&P 500 | 0.28 | 0.04 |
| Max drawdown (3Y) | -16.6% | -6.9% |
| Market cap | – | – |
| P/E (trailing) | 12.9 | – |
| Dividend yield | 9.85% | 3.96% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $47.2B |
| Sector / category | US Listed | ETF · Bonds |
On the fund side, IEF sits in the Long Government category at iShares, with $47.2B under management, a 0.15% expense ratio, a 3.96% trailing dividend yield.
Year-by-year returns
| Year | BHK | IEF |
|---|---|---|
| 2022 | -32.6% | -15.2% |
| 2023 | +14.3% | +3.6% |
| 2024 | +3.9% | -0.6% |
| 2025 | +0.3% | +8.0% |
| 2026 | +1.6% | -0.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHK and IEF good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BHK and IEF?
The BHK/IEF correlation stands at 0.71 on a 3-year window (1 year: 0.75, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is IEF a good diversifier for BHK?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bhk-vs-ief.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bhk-vs-ief/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BHK correlations · IEF correlations
