AYE2.DE vs. ^GSPC
AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) is European High Yield Bonds fund tracking the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while ^GSPC (S&P 500 Index) is an index. Over the past 5 years, AYE2.DE returned 2.41%/yr vs 12.03%/yr for ^GSPC. At a 0.25 correlation, their price movements are largely independent.
Performance
AYE2.DE vs. ^GSPC - Performance Comparison
Loading charts...
Different Trading Currencies
AYE2.DE is traded in EUR, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, AYE2.DE achieves a 0.86% return, which is significantly lower than ^GSPC's 11.89% return.
AYE2.DE
- 1D
- 0.00%
- 1M
- -0.17%
- 6M
- 0.68%
- YTD
- 0.86%
- 1Y
- 3.33%
- 3Y*
- 6.69%
- 5Y*
- 2.41%
- 10Y*
- —
- ALL TIME*
- 2.42%
^GSPC
- 1D
- 0.01%
- 1M
- -0.35%
- 6M
- 8.98%
- YTD
- 11.89%
- 1Y
- 20.36%
- 3Y*
- 16.94%
- 5Y*
- 12.03%
- 10Y*
- 12.65%
- ALL TIME*
- 10.08%
AYE2.DE vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.86% | 5.80% | 6.36% | 10.90% | -10.69% | 0.96% |
^GSPC S&P 500 Index | 11.89% | 2.58% | 31.45% | 20.51% | -14.45% | 23.77% |
Correlation
The correlation between AYE2.DE and ^GSPC is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | 0.25 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AYE2.DE vs. ^GSPC — Risk / Return Rank
AYE2.DE
^GSPC
AYE2.DE vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) and S&P 500 Index (^GSPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AYE2.DE | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.30 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 2.70 | -1.81 |
| Martin ratioReturn relative to average drawdown | 3.61 | 9.96 | -6.36 |
Loading charts...
Drawdowns
AYE2.DE vs. ^GSPC - Drawdown Comparison
The maximum AYE2.DE drawdown since its inception was -16.48%, smaller than the maximum ^GSPC drawdown of -50.14%. Use the drawdown chart below to compare losses from any high point for AYE2.DE and ^GSPC.
Loading charts...
Drawdown Indicators
| AYE2.DE | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -50.14% | +33.66% |
Max Drawdown (1Y)Largest decline over 1 year | -3.73% | -7.57% | +3.84% |
Max Drawdown (3Y)Largest decline over 3 years | -3.73% | -23.99% | +20.26% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -23.99% | +7.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.42% | — |
Current DrawdownCurrent decline from peak | -0.84% | -1.73% | +0.89% |
Average DrawdownAverage peak-to-trough decline | -3.86% | -8.49% | +4.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 2.05% | -1.13% |
Volatility
AYE2.DE vs. ^GSPC - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) is 1.42%, while S&P 500 Index (^GSPC) has a volatility of 2.79%. This indicates that AYE2.DE experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AYE2.DE | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 2.79% | -1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 4.47% | 9.21% | -4.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.79% | 12.64% | -6.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.81% | 16.83% | -11.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.67% | 18.61% | -12.94% |
Frequently Asked Questions
AYE2.DE and ^GSPC have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for AYE2.DE and ^GSPC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer