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EUHY vs. ACWI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EUHY vs. ACWI

Last updated Jun 4, 2026

EUHY (iShares Euro High Yield Corporate Bond USD Hedged ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - EUHY is a High Yield Bonds fund tracking the BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 10 years, EUHY returned 3.65%/yr vs 12.85%/yr for ACWI. At a 0.43 correlation, their price movements are largely independent. EUHY charges 0.35%/yr vs 0.32%/yr for ACWI.

Performance

EUHY vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EUHY achieves a 1.93% return, which is significantly lower than ACWI's 12.13% return. Over the past 10 years, EUHY has underperformed ACWI with an annualized return of 3.65%, while ACWI has yielded a comparatively higher 12.85% annualized return.

EUHY

1D
-0.14%
1M
1.00%
YTD
1.93%
6M
2.44%
1Y
6.03%
3Y*
9.87%
5Y*
1.94%
10Y*
3.65%

ACWI

1D
-0.83%
1M
5.28%
YTD
12.13%
6M
12.96%
1Y
29.18%
3Y*
21.15%
5Y*
11.28%
10Y*
12.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EUHY vs. ACWI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EUHY
iShares Euro High Yield Corporate Bond USD Hedged ETF		1.93%17.41%-0.55%16.06%-15.59%-3.78%10.69%8.60%-7.71%19.68%
ACWI
iShares MSCI ACWI ETF		12.13%22.41%17.45%22.27%-18.39%18.66%16.34%26.59%-9.19%24.33%

Correlation

The correlation between EUHY and ACWI is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.57

Correlation (3Y)
Calculated over the trailing 3-year period

0.53

Correlation (5Y)
Calculated over the trailing 5-year period

0.58

Correlation (10Y)
Calculated over the trailing 10-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Apr 4, 2012

0.43

The correlation between EUHY and ACWI shifts across timeframes, from 0.43 (all time) to 0.58 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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iShares Euro High Yield Corporate Bond USD Hedged ETF

iShares MSCI ACWI ETF

Often compared with EUHY:
EUHY vs. XHYHEUHY vs. LDRHEUHY vs. IBHDEUHY vs. SGOVEUHY vs. USHYEUHY vs. IWMEUHY vs. THY
Often compared with ACWI:
ACWI vs. VTACWI vs. SPYACWI vs. VWRL.LACWI vs. ACWXACWI vs. ACWI.LACWI vs. VOOACWI vs. VTI

Return for Risk

EUHY vs. ACWI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EUHY
EUHY Risk / Return Rank: 3131
Overall Rank
EUHY Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
EUHY Sortino Ratio Rank: 3030
Sortino Ratio Rank
EUHY Omega Ratio Rank: 3131
Omega Ratio Rank
EUHY Calmar Ratio Rank: 3636
Calmar Ratio Rank
EUHY Martin Ratio Rank: 2929
Martin Ratio Rank
ACWI
ACWI Risk / Return Rank: 6666
Overall Rank
ACWI Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
ACWI Sortino Ratio Rank: 6767
Sortino Ratio Rank
ACWI Omega Ratio Rank: 6767
Omega Ratio Rank
ACWI Calmar Ratio Rank: 5959
Calmar Ratio Rank
ACWI Martin Ratio Rank: 7171
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EUHY vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) and iShares MSCI ACWI ETF (ACWI). 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.

EUHYACWIDifference
Sharpe ratioReturn per unit of total volatility
1.10
2.29

-1.19

Sortino ratioReturn per unit of downside risk
1.59
3.17

-1.58

Omega ratioGain probability vs. loss probability

1.21

1.41

-0.21

Calmar ratioReturn relative to maximum drawdown

1.73

3.01

-1.28

Martin ratioReturn relative to average drawdown

4.14

13.53

-9.39

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUHY vs. ACWI - Sharpe Ratio Comparison

The current EUHY Sharpe Ratio is 1.10, which is lower than the ACWI Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of EUHY and ACWI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

EUHYACWIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.10

2.29

-1.19

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.20

0.71

-0.51

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.35

0.75

-0.40

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

0.43

-0.08

Drawdowns

EUHY vs. ACWI - Drawdown Comparison

The maximum EUHY drawdown since its inception was -32.45%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for EUHY and ACWI.

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Drawdown Indicators

EUHYACWIDifference

Max Drawdown

Largest peak-to-trough decline

-32.45%

-56.00%

+23.55%

Max Drawdown (1Y)

Largest decline over 1 year

-3.50%

-9.73%

+6.23%

Max Drawdown (3Y)

Largest decline over 3 years

-8.23%

-16.55%

+8.32%

Max Drawdown (5Y)

Largest decline over 5 years

-32.45%

-26.42%

-6.03%

Max Drawdown (10Y)

Largest decline over 10 years

-32.45%

-33.53%

+1.08%

Current Drawdown

Current decline from peak

-0.15%

-0.83%

+0.68%

Average Drawdown

Average peak-to-trough decline

-8.59%

-8.61%

+0.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.46%

2.16%

-0.70%

Volatility

EUHY vs. ACWI - Volatility Comparison

The current volatility for iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) is 1.07%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 3.93%. This indicates that EUHY experiences smaller price fluctuations and is considered to be less risky than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EUHYACWIDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.07%

3.93%

-2.86%

Volatility (6M)

Calculated over the trailing 6-month period

2.88%

10.29%

-7.41%

Volatility (1Y)

Calculated over the trailing 1-year period

5.54%

12.78%

-7.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.00%

16.05%

-6.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.43%

17.11%

-6.68%

EUHY vs. ACWI - Expense Ratio Comparison

EUHY has a 0.35% expense ratio, which is higher than ACWI's 0.32% expense ratio.

Dividends

EUHY vs. ACWI - Dividend Comparison

EUHY's dividend yield for the trailing twelve months is around 5.33%, more than ACWI's 1.38% yield.

PositionTTM20252024202320222021202020192018201720162015
ACWI
iShares MSCI ACWI ETF		1.38%1.55%1.70%1.88%1.79%1.71%1.43%2.33%2.18%1.94%2.19%2.56%
EUHY
iShares Euro High Yield Corporate Bond USD Hedged ETF		5.33%3.56%5.11%3.38%0.61%3.07%1.45%1.19%4.01%0.69%1.70%3.24%

Frequently Asked Questions

EUHY and ACWI have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ACWI has higher volatility (3.93%) compared to EUHY (1.07%). In terms of maximum drawdown, EUHY dropped -32.45% vs ACWI's -56.00%.

On 10-year performance, ACWI leads with 12.85% vs 3.65% for EUHY. On fees, ACWI is cheaper at 0.32% per year. On volatility, EUHY has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ACWI has performed better with a 12.85% return vs 3.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ACWI is cheaper with a 0.32% expense ratio, compared with 0.35% for EUHY.

EUHY has the higher dividend yield at 5.33%, compared with 1.38% for ACWI.

EUHY is categorized as High Yield Bonds, while ACWI is Global Equities. EUHY tracks BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.35% for EUHY and 0.32% for ACWI.

ACWI currently has the higher Sharpe Ratio (2.29 vs 1.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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