FAGB.L vs. HYGU.L
FAGB.L (Invesco US High Yield Fallen Angels UCITS ETF GBP Hedged (Acc)) and HYGU.L (iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc)) are both exchange-traded funds - FAGB.L is a High Yield Bonds fund tracking the FTSE Time-Weighted US Fallen Angel Bond Select Index, while HYGU.L is a European High Yield Bonds fund tracking the Markit iBoxx Euro Liquid High Yield Index (EUR). Both are passively managed. Over the past 5 years, FAGB.L returned 1.50%/yr vs 5.04%/yr for HYGU.L. At a 0.11 correlation, their price movements are largely independent. FAGB.L charges 0.50%/yr vs 0.55%/yr for HYGU.L.
Performance
FAGB.L vs. HYGU.L - Performance Comparison
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Different Trading Currencies
FAGB.L is traded in GBp, while HYGU.L is traded in USD. To make them comparable, the HYGU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, FAGB.L achieves a 1.09% return, which is significantly lower than HYGU.L's 2.21% return.
FAGB.L
- 1D
- -0.15%
- 1M
- 0.11%
- 6M
- 0.46%
- YTD
- 1.09%
- 1Y
- 5.50%
- 3Y*
- 6.70%
- 5Y*
- 1.50%
- 10Y*
- —
HYGU.L
- 1D
- 0.03%
- 1M
- -1.09%
- 6M
- 1.48%
- YTD
- 2.21%
- 1Y
- 4.82%
- 3Y*
- 6.89%
- 5Y*
- 5.04%
- 10Y*
- —
FAGB.L vs. HYGU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAGB.L Invesco US High Yield Fallen Angels UCITS ETF GBP Hedged (Acc) | 1.09% | 9.31% | 4.50% | 9.02% | -15.12% | 5.18% | 6.43% | 10.50% | -7.23% | 1.40% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) | 2.21% | -0.40% | 9.16% | 7.87% | 3.91% | 4.70% | -0.84% | 8.53% | 5.02% | -1.67% |
Correlation
The correlation between FAGB.L and HYGU.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | 0.11 |
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Return for Risk
FAGB.L vs. HYGU.L — Risk / Return Rank
FAGB.L
HYGU.L
FAGB.L vs. HYGU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US High Yield Fallen Angels UCITS ETF GBP Hedged (Acc) (FAGB.L) and iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) (HYGU.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.
| FAGB.L | HYGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.13 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.12 | +0.05 |
| Martin ratioReturn relative to average drawdown | 4.35 | 2.79 | +1.56 |
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Drawdowns
FAGB.L vs. HYGU.L - Drawdown Comparison
The maximum FAGB.L drawdown since its inception was -30.30%, which is greater than HYGU.L's maximum drawdown of -19.14%. Use the drawdown chart below to compare losses from any high point for FAGB.L and HYGU.L.
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Drawdown Indicators
| FAGB.L | HYGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.30% | -19.14% | -11.16% |
Max Drawdown (1Y)Largest decline over 1 year | -4.75% | -4.27% | -0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -5.31% | -8.35% | +3.04% |
Max Drawdown (5Y)Largest decline over 5 years | -18.92% | -9.08% | -9.84% |
Current DrawdownCurrent decline from peak | -0.62% | -1.99% | +1.37% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -3.90% | -1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 1.72% | -0.43% |
Volatility
FAGB.L vs. HYGU.L - Volatility Comparison
The current volatility for Invesco US High Yield Fallen Angels UCITS ETF GBP Hedged (Acc) (FAGB.L) is 1.19%, while iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) (HYGU.L) has a volatility of 1.62%. This indicates that FAGB.L experiences smaller price fluctuations and is considered to be less risky than HYGU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAGB.L | HYGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.62% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 3.84% | 5.11% | -1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.65% | 6.78% | -2.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.13% | 8.40% | -1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.53% | 9.42% | -0.89% |
FAGB.L vs. HYGU.L - Expense Ratio Comparison
FAGB.L has a 0.50% expense ratio, which is lower than HYGU.L's 0.55% expense ratio.
Dividends
FAGB.L vs. HYGU.L - Dividend Comparison
Neither FAGB.L nor HYGU.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FAGB.L Invesco US High Yield Fallen Angels UCITS ETF GBP Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FAGB.L and HYGU.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FAGB.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FAGB.L is cheaper with a 0.50% expense ratio, compared with 0.55% for HYGU.L.
FAGB.L is categorized as High Yield Bonds, while HYGU.L is European High Yield Bonds. FAGB.L tracks FTSE Time-Weighted US Fallen Angel Bond Select Index, while HYGU.L tracks Markit iBoxx Euro Liquid High Yield Index (EUR). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.50% for FAGB.L and 0.55% for HYGU.L.
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