FAHY.L vs. IHYU.L
FAHY.L (Invesco US High Yield Fallen Angels UCITS ETF Dist) and IHYU.L (iShares USD High Yield Corporate Bond UCITS ETF) are both High Yield Bonds funds - FAHY.L tracks the Bloomberg US Corporate High Yield TR USD while IHYU.L tracks the Markit iBoxx USD Liquid High Yield Capped Index. Both are passively managed. Over the past 5 years, FAHY.L returned 3.70%/yr vs 5.09%/yr for IHYU.L. A 0.75 correlation means they provide meaningful diversification when combined. FAHY.L charges 0.45%/yr vs 0.50%/yr for IHYU.L.
Performance
FAHY.L vs. IHYU.L - Performance Comparison
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Different Trading Currencies
FAHY.L is traded in GBp, while IHYU.L is traded in USD. To make them comparable, the IHYU.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 IHYU.L's 1.36% 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*
- —
IHYU.L
- 1D
- 0.01%
- 1M
- 1.21%
- YTD
- 1.36%
- 6M
- 1.10%
- 1Y
- 8.07%
- 3Y*
- 5.56%
- 5Y*
- 5.09%
- 10Y*
- 5.81%
FAHY.L vs. IHYU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAHY.L Invesco US High Yield Fallen Angels UCITS ETF Dist | 0.89% | 2.08% | 6.93% | 4.14% | -3.51% | 6.81% | 5.36% | 9.22% | 0.08% | -0.79% |
IHYU.L iShares USD High Yield Corporate Bond UCITS ETF | 1.33% | 1.71% | 8.79% | 5.44% | 1.78% | 4.90% | 1.67% | 8.70% | 4.34% | -3.74% |
Correlation
The correlation between FAHY.L and IHYU.L is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2016 | 0.75 |
The correlation between FAHY.L and IHYU.L has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.
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Return for Risk
FAHY.L vs. IHYU.L — Risk / Return Rank
FAHY.L
IHYU.L
FAHY.L vs. IHYU.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 USD High Yield Corporate Bond UCITS ETF (IHYU.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 | IHYU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.23 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 2.06 | +0.18 |
| Martin ratioReturn relative to average drawdown | 5.82 | 6.56 | -0.74 |
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 | IHYU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 1.26 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.59 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.64 | -0.20 |
Drawdowns
FAHY.L vs. IHYU.L - Drawdown Comparison
The maximum FAHY.L drawdown since its inception was -23.91%, which is greater than IHYU.L's maximum drawdown of -15.37%. Use the drawdown chart below to compare losses from any high point for FAHY.L and IHYU.L.
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Drawdown Indicators
| FAHY.L | IHYU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.91% | -15.37% | -8.54% |
Max Drawdown (1Y)Largest decline over 1 year | -3.99% | -3.91% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -9.89% | -8.76% | -1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -11.66% | -10.84% | -0.82% |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.37% | — |
Current DrawdownCurrent decline from peak | -0.91% | -0.45% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -4.15% | -3.90% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 1.23% | +0.30% |
Volatility
FAHY.L vs. IHYU.L - Volatility Comparison
The current volatility for Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.L) is 1.51%, while iShares USD High Yield Corporate Bond UCITS ETF (IHYU.L) has a volatility of 1.78%. This indicates that FAHY.L experiences smaller price fluctuations and is considered to be less risky than IHYU.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 | IHYU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 1.78% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 4.22% | 4.92% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.78% | 6.38% | -0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.27% | 8.55% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.96% | 10.44% | -0.48% |
FAHY.L vs. IHYU.L - Expense Ratio Comparison
FAHY.L has a 0.45% expense ratio, which is lower than IHYU.L's 0.50% expense ratio.
Dividends
FAHY.L vs. IHYU.L - Dividend Comparison
FAHY.L's dividend yield for the trailing twelve months is around 6.55%, more than IHYU.L's 6.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
IHYU.L iShares USD High Yield Corporate Bond UCITS ETF | 6.24% | 6.14% | 6.39% | 5.62% | 4.81% | 4.35% | 4.79% | 5.42% | 5.68% | 5.54% | 5.61% | 6.06% |
Frequently Asked Questions
FAHY.L and IHYU.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FAHY.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FAHY.L is cheaper with a 0.45% expense ratio, compared with 0.50% for IHYU.L.
FAHY.L tracks Bloomberg US Corporate High Yield TR USD, while IHYU.L tracks Markit iBoxx USD Liquid High Yield Capped Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.45% for FAHY.L and 0.50% for IHYU.L.
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