FLO5.L vs. SHYU.L

Last updated Jun 5, 2026

FLO5.L (iShares USD Floating Rate Bond UCITS ETF) and SHYU.L (iShares $ High Yield Corp Bond UCITS ETF) are both Corporate Bonds funds from iShares - FLO5.L tracks the Bloomberg US Corp Bond TR USD while SHYU.L tracks the Markit iBoxx USD Liquid High Yield Capped Index. Both are passively managed. Over the past 5 years, FLO5.L returned 1.22%/yr vs 3.17%/yr for SHYU.L. A 0.71 correlation means they provide meaningful diversification when combined. FLO5.L charges 0.10%/yr vs 0.50%/yr for SHYU.L.

Performance

FLO5.L vs. SHYU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares USD Floating Rate Bond UCITS ETF (FLO5.L) and iShares $ High Yield Corp Bond UCITS ETF (SHYU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FLO5.L is traded in GBp, while SHYU.L is traded in GBP. To make them comparable, the SHYU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, FLO5.L achieves a -0.05% return, which is significantly higher than SHYU.L's -1.70% return.

FLO5.L

• 1D: 0.03%
• 1M: -0.74%
• YTD: -0.05%
• 6M: -0.55%
• 1Y: 1.25%
• 3Y*: -2.38%
• 5Y*: 1.22%
• 10Y*: —

SHYU.L

• 1D: 0.16%
• 1M: -0.19%
• YTD: -1.70%
• 6M: -1.85%
• 1Y: 1.64%
• 3Y*: 2.26%
• 5Y*: 3.17%
• 10Y*: 4.84%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FLO5.L vs. SHYU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLO5.L iShares USD Floating Rate Bond UCITS ETF	-0.05%	-6.83%	1.88%	-4.56%	11.92%	1.15%	-4.18%	-2.07%	4.95%	0.57%
SHYU.L iShares $ High Yield Corp Bond UCITS ETF	-1.70%	-4.17%	8.56%	4.72%	2.04%	4.96%	1.60%	9.12%	4.39%	0.86%

Correlation

The correlation between FLO5.L and SHYU.L is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Sep 18, 2017	0.71

The correlation between FLO5.L and SHYU.L shifts across timeframes, from 0.69 (5 years) to 0.85 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FLO5.L vs. SHYU.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLO5.L

FLO5.L Risk / Return Rank: 11
FLO5.L Sharpe Ratio Rank: 12
FLO5.L Sortino Ratio Rank: 10
FLO5.L Omega Ratio Rank: 11
FLO5.L Calmar Ratio Rank: 11
FLO5.L Martin Ratio Rank: 11

SHYU.L

SHYU.L Risk / Return Rank: 12
SHYU.L Sharpe Ratio Rank: 13
SHYU.L Sortino Ratio Rank: 11
SHYU.L Omega Ratio Rank: 12
SHYU.L Calmar Ratio Rank: 12
SHYU.L Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FLO5.L vs. SHYU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares USD Floating Rate Bond UCITS ETF (FLO5.L) and iShares $ High Yield Corp Bond UCITS ETF (SHYU.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.

	FLO5.L	SHYU.L	Difference
Sharpe ratio: Return per unit of total volatility	0.17	0.24	-0.07
Sortino ratio: Return per unit of downside risk	0.27	0.34	-0.07
Omega ratio: Gain probability vs. loss probability	1.04	1.05	-0.01
Calmar ratio: Return relative to maximum drawdown	0.19	0.25	-0.06
Martin ratio: Return relative to average drawdown	0.38	0.43	-0.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLO5.L vs. SHYU.L - Sharpe Ratio Comparison

The current FLO5.L Sharpe Ratio is 0.17, which is comparable to the SHYU.L Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of FLO5.L and SHYU.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FLO5.L	SHYU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.17	0.24	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.39	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.59	-0.57

Drawdowns

FLO5.L vs. SHYU.L - Drawdown Comparison

The maximum FLO5.L drawdown since its inception was -20.77%, which is greater than SHYU.L's maximum drawdown of -15.01%. Use the drawdown chart below to compare losses from any high point for FLO5.L and SHYU.L.

Drawdown Indicators

	FLO5.L	SHYU.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.77%	-15.01%	-5.76%
Max Drawdown (1Y) Largest decline over 1 year	-6.65%	-6.61%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-13.32%	-11.08%	-2.24%
Max Drawdown (5Y) Largest decline over 5 years	-20.77%	-11.08%	-9.69%
Max Drawdown (10Y) Largest decline over 10 years	—	-15.01%	—
Current Drawdown Current decline from peak	-19.14%	-9.14%	-10.00%
Average Drawdown Average peak-to-trough decline	-9.77%	-4.14%	-5.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	3.83%	-0.53%

Volatility

FLO5.L vs. SHYU.L - Volatility Comparison

iShares USD Floating Rate Bond UCITS ETF (FLO5.L) has a higher volatility of 2.80% compared to iShares $ High Yield Corp Bond UCITS ETF (SHYU.L) at 1.72%. This indicates that FLO5.L's price experiences larger fluctuations and is considered to be riskier than SHYU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLO5.L	SHYU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	1.72%	+1.08%
Volatility (6M) Calculated over the trailing 6-month period	5.01%	4.34%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	7.27%	6.89%	+0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.03%	8.13%	+0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.16%	9.74%	-0.58%

FLO5.L vs. SHYU.L - Expense Ratio Comparison

FLO5.L has a 0.10% expense ratio, which is lower than SHYU.L's 0.50% expense ratio.

Dividends

FLO5.L vs. SHYU.L - Dividend Comparison

FLO5.L's dividend yield for the trailing twelve months is around 0.05%, while SHYU.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLO5.L iShares USD Floating Rate Bond UCITS ETF	0.05%	0.05%	0.06%	0.06%	0.01%	0.01%	0.02%	0.03%	0.02%	0.00%	0.00%	0.00%
SHYU.L iShares $ High Yield Corp Bond UCITS ETF	0.00%	0.00%	6.32%	5.76%	4.82%	4.27%	5.16%	5.58%	5.52%	5.74%	5.16%	5.87%

Frequently Asked Questions

Can I hold both FLO5.L and SHYU.L in my portfolio?

FLO5.L and SHYU.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLO5.L or SHYU.L?

On fees, FLO5.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLO5.L or SHYU.L?

FLO5.L is cheaper with a 0.10% expense ratio, compared with 0.50% for SHYU.L.

What is the main difference between FLO5.L and SHYU.L?

FLO5.L tracks Bloomberg US Corp Bond TR USD, while SHYU.L tracks Markit iBoxx USD Liquid High Yield Capped Index. Their fees differ too: 0.10% for FLO5.L and 0.50% for SHYU.L.