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EUHY vs. HYGI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EUHY vs. HYGI

Last updated Jun 9, 2026

EUHY (iShares Euro High Yield Corporate Bond USD Hedged ETF) and HYGI (iShares Inflation Hedged High Yield Bond 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 HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Both are passively managed. A 0.54 correlation means they provide meaningful diversification when combined. EUHY charges 0.35%/yr vs 0.52%/yr for HYGI.

Performance

EUHY vs. HYGI - 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 Inflation Hedged High Yield Bond ETF (HYGI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

EUHY

1D
-0.12%
1M
0.05%
YTD
1.70%
6M
2.27%
1Y
5.47%
3Y*
9.44%
5Y*
1.82%
10Y*
3.68%

HYGI

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EUHY vs. HYGI - Yearly Performance Comparison

2026 (YTD)2025202420232022
EUHY
iShares Euro High Yield Corporate Bond USD Hedged ETF		1.70%17.41%-0.55%16.06%4.11%
HYGI
iShares Inflation Hedged High Yield Bond ETF		0.00%6.20%9.16%11.71%0.65%

Correlation

The correlation between EUHY and HYGI is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.22

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

0.44

Correlation (All Time)
Calculated using the full available price history since Jun 27, 2022

0.54

Over the past year, the correlation between EUHY and HYGI has dropped to 0.22 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

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iShares Euro High Yield Corporate Bond USD Hedged ETF

iShares Inflation Hedged High Yield Bond ETF

Often compared with EUHY:
EUHY vs. XHYHEUHY vs. LDRHEUHY vs. USHYEUHY vs. SGOVEUHY vs. IBHDEUHY vs. IWMEUHY vs. THY
Often compared with HYGI:
HYGI vs. HYGHYGI vs. SHYGHYGI vs. SHVHYGI vs. AGGHYGI vs. FIPDXHYGI vs. SPHYHYGI vs. LNG

Return for Risk

EUHY vs. HYGI — 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: 3030
Sharpe Ratio Rank
EUHY Sortino Ratio Rank: 2929
Sortino Ratio Rank
EUHY Omega Ratio Rank: 3131
Omega Ratio Rank
EUHY Calmar Ratio Rank: 3535
Calmar Ratio Rank
EUHY Martin Ratio Rank: 2929
Martin Ratio Rank
HYGI
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. HYGI - 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 Inflation Hedged High Yield Bond ETF (HYGI). 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.

EUHYHYGIDifference
Sharpe ratioReturn per unit of total volatility
1.00

—

—

Sortino ratioReturn per unit of downside risk
1.45

—

—

Omega ratioGain probability vs. loss probability

1.19

—

—

Calmar ratioReturn relative to maximum drawdown

1.57

—

—

Martin ratioReturn relative to average drawdown

3.75

—

—

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. HYGI - Sharpe Ratio Comparison

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Sharpe Ratios by Period

EUHYHYGIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.00

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.18

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.35

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

—

—

Drawdowns

EUHY vs. HYGI - Drawdown Comparison

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Drawdown Indicators

EUHYHYGIDifference

Max Drawdown

Largest peak-to-trough decline

-32.45%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-3.50%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-8.23%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-32.45%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-32.45%

—

—

Current Drawdown

Current decline from peak

-0.38%

—

—

Average Drawdown

Average peak-to-trough decline

-8.58%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.46%

—

—

Volatility

EUHY vs. HYGI - Volatility Comparison

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Volatility by Period

EUHYHYGIDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.03%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

2.89%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

5.51%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.00%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.42%

—

—

EUHY vs. HYGI - Expense Ratio Comparison

EUHY has a 0.35% expense ratio, which is lower than HYGI's 0.52% expense ratio.

Dividends

EUHY vs. HYGI - Dividend Comparison

EUHY's dividend yield for the trailing twelve months is around 5.35%, while HYGI has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
EUHY
iShares Euro High Yield Corporate Bond USD Hedged ETF		5.35%3.56%5.11%3.38%0.61%3.07%1.45%1.19%4.01%0.69%1.70%3.24%
HYGI
iShares Inflation Hedged High Yield Bond ETF		0.97%3.41%6.08%6.22%3.19%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

EUHY and HYGI have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, EUHY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EUHY is cheaper with a 0.35% expense ratio, compared with 0.52% for HYGI.

EUHY has the higher dividend yield at 5.35%, compared with 0.97% for HYGI.

EUHY is categorized as High Yield Bonds, while HYGI is Inflation-Protected Bonds. EUHY tracks BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index, while HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Their fees differ too: 0.35% for EUHY and 0.52% for HYGI.

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