EUHY vs. USHY
EUHY (iShares Euro High Yield Corporate Bond USD Hedged ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds from iShares - EUHY tracks the BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index while USHY tracks the ICE BofA US High Yield Constrained. Both are passively managed. Over the past 5 years, EUHY returned 1.94%/yr vs 4.24%/yr for USHY. A 0.52 correlation means they provide meaningful diversification when combined. EUHY charges 0.35%/yr vs 0.15%/yr for USHY.
Performance
EUHY vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, EUHY achieves a 1.93% return, which is significantly higher than USHY's 1.42% 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%
USHY
- 1D
- -0.27%
- 1M
- 0.40%
- YTD
- 1.42%
- 6M
- 1.77%
- 1Y
- 7.02%
- 3Y*
- 8.91%
- 5Y*
- 4.24%
- 10Y*
- —
EUHY vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 2.66% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.42% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 6.17% | 14.24% | -2.41% | 0.16% |
Correlation
The correlation between EUHY and USHY is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.52 |
The correlation between EUHY and USHY shifts across timeframes, from 0.52 (all time) to 0.62 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EUHY vs. USHY — Risk / Return Rank
EUHY
USHY
EUHY vs. USHY - 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 Broad USD High Yield Corporate Bond ETF (USHY). 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.
| EUHY | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.37 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 2.90 | -1.17 |
| Martin ratioReturn relative to average drawdown | 4.14 | 13.03 | -8.89 |
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
| EUHY | USHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.10 | 1.93 | -0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.58 | -0.39 |
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 | 0.58 | -0.24 |
Drawdowns
EUHY vs. USHY - Drawdown Comparison
The maximum EUHY drawdown since its inception was -32.45%, which is greater than USHY's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for EUHY and USHY.
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Drawdown Indicators
| EUHY | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.45% | -22.44% | -10.01% |
Max Drawdown (1Y)Largest decline over 1 year | -3.50% | -2.43% | -1.07% |
Max Drawdown (3Y)Largest decline over 3 years | -8.23% | -4.66% | -3.57% |
Max Drawdown (5Y)Largest decline over 5 years | -32.45% | -15.56% | -16.89% |
Max Drawdown (10Y)Largest decline over 10 years | -32.45% | — | — |
Current DrawdownCurrent decline from peak | -0.15% | -0.27% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -8.59% | -2.67% | -5.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 0.54% | +0.92% |
Volatility
EUHY vs. USHY - Volatility Comparison
The current volatility for iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) is 1.07%, while iShares Broad USD High Yield Corporate Bond ETF (USHY) has a volatility of 1.13%. This indicates that EUHY experiences smaller price fluctuations and is considered to be less risky than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUHY | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.13% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.88% | 2.91% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.54% | 3.65% | +1.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.00% | 7.34% | +2.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.43% | 8.25% | +2.18% |
EUHY vs. USHY - Expense Ratio Comparison
EUHY has a 0.35% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
EUHY vs. USHY - Dividend Comparison
EUHY's dividend yield for the trailing twelve months is around 5.33%, less than USHY's 6.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.92% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% | 0.00% | 0.00% |
Frequently Asked Questions
EUHY and USHY have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USHY has higher volatility (1.13%) compared to EUHY (1.07%). In terms of maximum drawdown, EUHY dropped -32.45% vs USHY's -22.44%.
On 5-year performance, USHY leads with 4.24% vs 1.94% for EUHY. On fees, USHY is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USHY has performed better with a 4.24% return vs 1.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USHY is cheaper with a 0.15% expense ratio, compared with 0.35% for EUHY.
USHY has the higher dividend yield at 6.92%, compared with 5.33% for EUHY.
EUHY tracks BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index, while USHY tracks ICE BofA US High Yield Constrained. Their fees differ too: 0.35% for EUHY and 0.15% for USHY.
USHY currently has the higher Sharpe Ratio (1.93 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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