FAHY.L vs. EHYG.L
FAHY.L (Invesco US High Yield Fallen Angels UCITS ETF Dist) and EHYG.L (iShares € High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Acc)) are both High Yield Bonds funds - FAHY.L tracks the Bloomberg US Corporate High Yield TR USD while EHYG.L tracks the Bloomberg MSCI Euro Corporate High Yield ESG SRI Bond Index (EUR). Both are passively managed. Over the past 3 years, FAHY.L returned 5.13%/yr vs 8.61%/yr for EHYG.L. At a 0.14 correlation, their price movements are largely independent. FAHY.L charges 0.45%/yr vs 0.27%/yr for EHYG.L.
Performance
FAHY.L vs. EHYG.L - Performance Comparison
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Different Trading Currencies
FAHY.L is traded in GBp, while EHYG.L is traded in GBP. To make them comparable, the EHYG.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, FAHY.L achieves a 0.89% return, which is significantly lower than EHYG.L's 1.51% return.
FAHY.L
- 1D
- 0.30%
- 1M
- 1.23%
- YTD
- 0.89%
- 6M
- -0.21%
- 1Y
- 8.81%
- 3Y*
- 5.13%
- 5Y*
- 3.70%
- 10Y*
- —
EHYG.L
- 1D
- 0.08%
- 1M
- 1.15%
- YTD
- 1.51%
- 6M
- 2.00%
- 1Y
- 5.85%
- 3Y*
- 8.61%
- 5Y*
- —
- 10Y*
- —
FAHY.L vs. EHYG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FAHY.L Invesco US High Yield Fallen Angels UCITS ETF Dist | 0.89% | 2.08% | 6.93% | 6.30% |
EHYG.L iShares € High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Acc) | 1.51% | 7.84% | 7.83% | 9.46% |
Correlation
The correlation between FAHY.L and EHYG.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since May 2, 2023 | 0.14 |
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Return for Risk
FAHY.L vs. EHYG.L — Risk / Return Rank
FAHY.L
EHYG.L
FAHY.L vs. EHYG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.L) and iShares € High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Acc) (EHYG.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.
| FAHY.L | EHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.32 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 2.05 | +0.18 |
| Martin ratioReturn relative to average drawdown | 5.82 | 9.04 | -3.21 |
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
| FAHY.L | EHYG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 1.63 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 2.41 | -1.97 |
Drawdowns
FAHY.L vs. EHYG.L - Drawdown Comparison
The maximum FAHY.L drawdown since its inception was -23.91%, which is greater than EHYG.L's maximum drawdown of -3.19%. Use the drawdown chart below to compare losses from any high point for FAHY.L and EHYG.L.
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Drawdown Indicators
| FAHY.L | EHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.91% | -3.19% | -20.72% |
Max Drawdown (1Y)Largest decline over 1 year | -3.99% | -2.85% | -1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -9.89% | -3.19% | -6.70% |
Max Drawdown (5Y)Largest decline over 5 years | -11.66% | — | — |
Current DrawdownCurrent decline from peak | -0.91% | -0.14% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -4.15% | -0.32% | -3.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 0.65% | +0.88% |
Volatility
FAHY.L vs. EHYG.L - Volatility Comparison
Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.L) has a higher volatility of 1.51% compared to iShares € High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Acc) (EHYG.L) at 1.04%. This indicates that FAHY.L's price experiences larger fluctuations and is considered to be riskier than EHYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAHY.L | EHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 1.04% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 4.22% | 3.05% | +1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.78% | 3.58% | +2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.27% | 3.58% | +4.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.96% | 3.58% | +6.38% |
FAHY.L vs. EHYG.L - Expense Ratio Comparison
FAHY.L has a 0.45% expense ratio, which is higher than EHYG.L's 0.27% expense ratio.
Dividends
FAHY.L vs. EHYG.L - Dividend Comparison
FAHY.L's dividend yield for the trailing twelve months is around 6.55%, while EHYG.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
EHYG.L iShares € High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FAHY.L Invesco US High Yield Fallen Angels UCITS ETF Dist | 6.55% | 6.61% | 6.89% | 6.85% | 5.66% | 4.54% | 6.26% | 6.22% | 6.01% | 5.63% | 1.23% |
Frequently Asked Questions
FAHY.L and EHYG.L have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EHYG.L is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EHYG.L is cheaper with a 0.27% expense ratio, compared with 0.45% for FAHY.L.
FAHY.L tracks Bloomberg US Corporate High Yield TR USD, while EHYG.L tracks Bloomberg MSCI Euro Corporate High Yield ESG SRI Bond Index (EUR). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.45% for FAHY.L and 0.27% for EHYG.L.
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