FAEU.DE vs. HYLE.DE
FAEU.DE (Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg)) and HYLE.DE (iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist) are both High Yield Bonds funds - FAEU.DE tracks the FTSE Time-Weighted US Fallen Angel Bond Select Index while HYLE.DE tracks the iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged). Both are passively managed. Over the past 5 years, FAEU.DE returned 0.19%/yr vs 2.18%/yr for HYLE.DE. A 0.72 correlation means they provide meaningful diversification when combined. FAEU.DE charges 0.50%/yr vs 0.55%/yr for HYLE.DE.
Performance
FAEU.DE vs. HYLE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FAEU.DE achieves a 0.54% return, which is significantly lower than HYLE.DE's 1.31% return.
FAEU.DE
- 1D
- 0.04%
- 1M
- 0.87%
- 6M
- 0.61%
- YTD
- 0.54%
- 1Y
- 3.10%
- 3Y*
- 5.35%
- 5Y*
- 0.19%
- 10Y*
- —
HYLE.DE
- 1D
- 0.00%
- 1M
- 0.77%
- 6M
- 1.54%
- YTD
- 1.31%
- 1Y
- 3.63%
- 3Y*
- 6.45%
- 5Y*
- 2.18%
- 10Y*
- —
FAEU.DE vs. HYLE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FAEU.DE Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) | 0.54% | 7.55% | 2.62% | 7.66% | -16.29% | 4.49% | 6.43% | 0.40% |
HYLE.DE iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist | 1.31% | 5.99% | 5.32% | 9.83% | -10.71% | 3.04% | 2.41% | 3.61% |
Correlation
The correlation between FAEU.DE and HYLE.DE is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2019 | 0.72 |
The correlation between FAEU.DE and HYLE.DE shifts across timeframes, from 0.53 (1 year) to 0.72 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FAEU.DE vs. HYLE.DE — Risk / Return Rank
FAEU.DE
HYLE.DE
FAEU.DE vs. HYLE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) (FAEU.DE) and iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist (HYLE.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.
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.
| FAEU.DE | HYLE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.20 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 1.24 | -0.67 |
| Martin ratioReturn relative to average drawdown | 1.87 | 5.62 | -3.75 |
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Drawdowns
FAEU.DE vs. HYLE.DE - Drawdown Comparison
The maximum FAEU.DE drawdown since its inception was -29.94%, which is greater than HYLE.DE's maximum drawdown of -22.51%. Use the drawdown chart below to compare losses from any high point for FAEU.DE and HYLE.DE.
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Drawdown Indicators
| FAEU.DE | HYLE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.94% | -22.51% | -7.43% |
Max Drawdown (1Y)Largest decline over 1 year | -5.38% | -2.91% | -2.47% |
Max Drawdown (3Y)Largest decline over 3 years | -5.63% | -3.96% | -1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -19.80% | -15.44% | -4.36% |
Current DrawdownCurrent decline from peak | -1.17% | 0.00% | -1.17% |
Average DrawdownAverage peak-to-trough decline | -6.40% | -3.48% | -2.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 0.64% | +1.01% |
Volatility
FAEU.DE vs. HYLE.DE - Volatility Comparison
Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) (FAEU.DE) has a higher volatility of 1.15% compared to iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist (HYLE.DE) at 0.88%. This indicates that FAEU.DE's price experiences larger fluctuations and is considered to be riskier than HYLE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAEU.DE | HYLE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 0.88% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 4.29% | 3.03% | +1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.28% | 3.81% | +1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.44% | 5.96% | +1.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.55% | 8.27% | +2.28% |
FAEU.DE vs. HYLE.DE - Expense Ratio Comparison
FAEU.DE has a 0.50% expense ratio, which is lower than HYLE.DE's 0.55% expense ratio.
Dividends
FAEU.DE vs. HYLE.DE - Dividend Comparison
FAEU.DE has not paid dividends to shareholders, while HYLE.DE's dividend yield for the trailing twelve months is around 6.87%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FAEU.DE Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 0.00% | 8.14% |
HYLE.DE iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist | 6.87% | 5.34% | 5.38% | 4.76% | 4.17% | 3.83% | 4.50% | 1.75% | 0.00% |
Frequently Asked Questions
FAEU.DE and HYLE.DE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FAEU.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FAEU.DE is cheaper with a 0.50% expense ratio, compared with 0.55% for HYLE.DE.
FAEU.DE tracks FTSE Time-Weighted US Fallen Angel Bond Select Index, while HYLE.DE tracks iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.50% for FAEU.DE and 0.55% for HYLE.DE.
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