AYE2.DE vs. AHYE.DE
AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) and AHYE.DE (Amundi Euro High Yield Bond ESG UCITS ETF EUR) are both European High Yield Bonds funds - AYE2.DE tracks the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond while AHYE.DE tracks the iBoxx MSCI ESG EUR High Yield Corporates. Both are passively managed. Over the past 5 years, AYE2.DE returned 2.45%/yr vs 1.77%/yr for AHYE.DE. Their correlation of 0.82 suggests significant overlap in exposure. AYE2.DE charges 0.25%/yr vs 0.40%/yr for AHYE.DE.
Performance
AYE2.DE vs. AHYE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AYE2.DE achieves a 0.71% return, which is significantly higher than AHYE.DE's 0.37% return.
AYE2.DE
- 1D
- -0.10%
- 1M
- 0.88%
- YTD
- 0.71%
- 6M
- 1.00%
- 1Y
- 3.78%
- 3Y*
- 6.88%
- 5Y*
- 2.45%
- 10Y*
- —
AHYE.DE
- 1D
- -0.11%
- 1M
- 0.92%
- YTD
- 0.37%
- 6M
- 0.77%
- 1Y
- 3.25%
- 3Y*
- 6.16%
- 5Y*
- 1.77%
- 10Y*
- 2.89%
AYE2.DE vs. AHYE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.71% | 5.88% | 6.36% | 10.77% | -10.72% | 0.80% |
AHYE.DE Amundi Euro High Yield Bond ESG UCITS ETF EUR | 0.37% | 5.51% | 5.40% | 10.19% | -10.53% | -0.33% |
Correlation
The correlation between AYE2.DE and AHYE.DE is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.82 |
The correlation between AYE2.DE and AHYE.DE has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.
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Return for Risk
AYE2.DE vs. AHYE.DE — Risk / Return Rank
AYE2.DE
AHYE.DE
AYE2.DE vs. AHYE.DE - 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 Amundi Euro High Yield Bond ESG UCITS ETF EUR (AHYE.DE). 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.
| AYE2.DE | AHYE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.20 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 1.01 | +0.21 |
| Martin ratioReturn relative to average drawdown | 5.15 | 4.06 | +1.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AYE2.DE | AHYE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 1.01 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.31 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.39 | +0.06 |
Drawdowns
AYE2.DE vs. AHYE.DE - Drawdown Comparison
The maximum AYE2.DE drawdown since its inception was -16.48%, smaller than the maximum AHYE.DE drawdown of -23.41%. Use the drawdown chart below to compare losses from any high point for AYE2.DE and AHYE.DE.
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Drawdown Indicators
| AYE2.DE | AHYE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -23.41% | +6.93% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -3.22% | +0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -3.22% | -0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -16.89% | +0.41% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.41% | — |
Current DrawdownCurrent decline from peak | -0.33% | -0.32% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -2.86% | -1.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.80% | -0.07% |
Volatility
AYE2.DE vs. AHYE.DE - Volatility Comparison
iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) has a higher volatility of 0.98% compared to Amundi Euro High Yield Bond ESG UCITS ETF EUR (AHYE.DE) at 0.81%. This indicates that AYE2.DE's price experiences larger fluctuations and is considered to be riskier than AHYE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AYE2.DE | AHYE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.81% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 2.76% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 3.22% | +0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 5.57% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 6.73% | -1.47% |
AYE2.DE vs. AHYE.DE - Expense Ratio Comparison
AYE2.DE has a 0.25% expense ratio, which is lower than AHYE.DE's 0.40% expense ratio.
Dividends
AYE2.DE vs. AHYE.DE - Dividend Comparison
Neither AYE2.DE nor AHYE.DE has paid dividends to shareholders.
Frequently Asked Questions
AYE2.DE and AHYE.DE have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AYE2.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AYE2.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for AHYE.DE.
AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while AHYE.DE tracks iBoxx MSCI ESG EUR High Yield Corporates. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.25% for AYE2.DE and 0.40% for AHYE.DE.
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