DHYA.L vs. HYSD.L
DHYA.L (iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc)) and HYSD.L (iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) are both High Yield Bonds funds from iShares - DHYA.L tracks the Bloomberg US Corporate High Yield TR USD while HYSD.L tracks the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 3 years, DHYA.L returned 8.25%/yr vs 9.12%/yr for HYSD.L. A 0.56 correlation means they provide meaningful diversification when combined. DHYA.L charges 0.25%/yr vs 0.22%/yr for HYSD.L.
Performance
DHYA.L vs. HYSD.L - Performance Comparison
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Different Trading Currencies
DHYA.L is traded in USD, while HYSD.L is traded in GBP. To make them comparable, the HYSD.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with DHYA.L having a 1.83% return and HYSD.L slightly higher at 1.91%.
DHYA.L
- 1D
- 0.00%
- 1M
- -0.00%
- 6M
- 1.52%
- YTD
- 1.83%
- 1Y
- 5.71%
- 3Y*
- 8.25%
- 5Y*
- 3.59%
- 10Y*
- —
HYSD.L
- 1D
- -0.21%
- 1M
- 1.52%
- 6M
- 1.83%
- YTD
- 1.91%
- 1Y
- 5.75%
- 3Y*
- 9.12%
- 5Y*
- —
- 10Y*
- —
DHYA.L vs. HYSD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DHYA.L iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc) | 1.83% | 8.46% | 8.26% | 12.33% | -3.24% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.91% | 16.41% | 5.80% | 17.64% | -4.06% |
Correlation
The correlation between DHYA.L and HYSD.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2022 | 0.56 |
The correlation between DHYA.L and HYSD.L has been stable across timeframes, ranging from 0.48 to 0.56 - a consistent structural relationship.
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Return for Risk
DHYA.L vs. HYSD.L — Risk / Return Rank
DHYA.L
HYSD.L
DHYA.L vs. HYSD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc) (DHYA.L) and iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.L). 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.
| DHYA.L | HYSD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.12 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 0.89 | +1.32 |
| Martin ratioReturn relative to average drawdown | 9.61 | 2.30 | +7.31 |
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Drawdowns
DHYA.L vs. HYSD.L - Drawdown Comparison
The maximum DHYA.L drawdown since its inception was -16.29%, smaller than the maximum HYSD.L drawdown of -20.02%. Use the drawdown chart below to compare losses from any high point for DHYA.L and HYSD.L.
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Drawdown Indicators
| DHYA.L | HYSD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.29% | -20.02% | +3.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.58% | -6.47% | +3.89% |
Max Drawdown (3Y)Largest decline over 3 years | -5.20% | -9.26% | +4.06% |
Max Drawdown (5Y)Largest decline over 5 years | -16.29% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | -1.59% | +1.29% |
Average DrawdownAverage peak-to-trough decline | -3.46% | -3.24% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 2.49% | -1.90% |
Volatility
DHYA.L vs. HYSD.L - Volatility Comparison
The current volatility for iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc) (DHYA.L) is 0.88%, while iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.L) has a volatility of 2.10%. This indicates that DHYA.L experiences smaller price fluctuations and is considered to be less risky than HYSD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DHYA.L | HYSD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 2.10% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 3.61% | 6.56% | -2.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.26% | 8.56% | -4.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.33% | 12.07% | -4.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.83% | 12.07% | -4.24% |
DHYA.L vs. HYSD.L - Expense Ratio Comparison
DHYA.L has a 0.25% expense ratio, which is higher than HYSD.L's 0.22% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
DHYA.L vs. HYSD.L - Dividend Comparison
DHYA.L has not paid dividends to shareholders, while HYSD.L's dividend yield for the trailing twelve months is around 7.39%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
DHYA.L iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 7.39% | 7.39% | 7.39% | 5.61% |
Frequently Asked Questions
DHYA.L and HYSD.L have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYSD.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYSD.L is cheaper with a 0.22% expense ratio, compared with 0.25% for DHYA.L.
DHYA.L tracks Bloomberg US Corporate High Yield TR USD, while HYSD.L tracks ICE BofA US High Yield Constrained Index. Their fees differ too: 0.25% for DHYA.L and 0.22% for HYSD.L.
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