FAHY.L vs. SDHY.L
FAHY.L (Invesco US High Yield Fallen Angels UCITS ETF Dist) and SDHY.L ( iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist) are both High Yield Bonds funds - FAHY.L tracks the Bloomberg US Corporate High Yield TR USD while SDHY.L tracks the Markit iBoxx USD Liquid High Yield 0-5 Capped Index. Both are passively managed. Over the past 5 years, FAHY.L returned 3.70%/yr vs 5.73%/yr for SDHY.L. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.45% expense ratio.
Performance
FAHY.L vs. SDHY.L - Performance Comparison
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Different Trading Currencies
FAHY.L is traded in GBp, while SDHY.L is traded in USD. To make them comparable, the SDHY.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 SDHY.L's 1.81% 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*
- —
SDHY.L
- 1D
- 0.09%
- 1M
- 1.33%
- YTD
- 1.81%
- 6M
- 1.42%
- 1Y
- 8.16%
- 3Y*
- 4.90%
- 5Y*
- 5.73%
- 10Y*
- 5.73%
FAHY.L vs. SDHY.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% |
SDHY.L iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist | 1.81% | 1.14% | 8.36% | 3.31% | 8.23% | 4.40% | 1.01% | 5.44% | 6.21% | -4.75% |
Correlation
The correlation between FAHY.L and SDHY.L is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2016 | 0.74 |
The correlation between FAHY.L and SDHY.L has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.
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Return for Risk
FAHY.L vs. SDHY.L — Risk / Return Rank
FAHY.L
SDHY.L
FAHY.L vs. SDHY.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 $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.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 | SDHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.23 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 2.07 | +0.16 |
| Martin ratioReturn relative to average drawdown | 5.82 | 6.44 | -0.62 |
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 | SDHY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 1.31 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.69 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.59 | -0.15 |
Drawdowns
FAHY.L vs. SDHY.L - Drawdown Comparison
The maximum FAHY.L drawdown since its inception was -23.91%, which is greater than SDHY.L's maximum drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for FAHY.L and SDHY.L.
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Drawdown Indicators
| FAHY.L | SDHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.91% | -13.12% | -10.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.99% | -3.94% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -9.89% | -8.65% | -1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -11.66% | -11.99% | +0.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.12% | — |
Current DrawdownCurrent decline from peak | -0.91% | -0.64% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -4.15% | -4.07% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 1.27% | +0.26% |
Volatility
FAHY.L vs. SDHY.L - Volatility Comparison
The current volatility for Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.L) is 1.51%, while iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.L) has a volatility of 1.95%. This indicates that FAHY.L experiences smaller price fluctuations and is considered to be less risky than SDHY.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 | SDHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 1.95% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 4.22% | 4.74% | -0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.78% | 6.24% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.27% | 8.31% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.96% | 9.85% | +0.11% |
FAHY.L vs. SDHY.L - Expense Ratio Comparison
Both FAHY.L and SDHY.L have an expense ratio of 0.45%.
Dividends
FAHY.L vs. SDHY.L - Dividend Comparison
FAHY.L's dividend yield for the trailing twelve months is around 6.55%, less than SDHY.L's 8.31% 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% |
SDHY.L iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist | 8.31% | 6.59% | 6.41% | 5.64% | 4.31% | 4.24% | 4.80% | 5.26% | 5.48% | 5.42% | 5.68% | 5.05% |
Frequently Asked Questions
FAHY.L and SDHY.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
FAHY.L and SDHY.L have the same expense ratio: 0.45% per year.
FAHY.L tracks Bloomberg US Corporate High Yield TR USD, while SDHY.L tracks Markit iBoxx USD Liquid High Yield 0-5 Capped Index. They also come from different issuers: Invesco and iShares.
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