FLUC.L vs. HYGB.L
FLUC.L (Franklin USD Investment Grade Corporate Bond UCITS ETF USD (Dist)) and HYGB.L (VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)) are both exchange-traded funds - FLUC.L is a Corporate Bonds fund tracking the Bloomberg US Corporate - Investment Grade Index, while HYGB.L is a Emerging Markets Bonds fund tracking the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, FLUC.L returned -0.29%/yr vs 2.83%/yr for HYGB.L. At a 0.14 correlation, their price movements are largely independent. FLUC.L charges 0.35%/yr vs 0.40%/yr for HYGB.L.
Performance
FLUC.L vs. HYGB.L - Performance Comparison
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Different Trading Currencies
FLUC.L is traded in USD, while HYGB.L is traded in GBP. To make them comparable, the HYGB.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, FLUC.L achieves a -0.38% return, which is significantly lower than HYGB.L's 3.68% return.
FLUC.L
- 1D
- 0.08%
- 1M
- -0.38%
- 6M
- -0.09%
- YTD
- -0.38%
- 1Y
- 4.18%
- 3Y*
- 4.44%
- 5Y*
- -0.29%
- 10Y*
- —
HYGB.L
- 1D
- 0.14%
- 1M
- 0.78%
- 6M
- 3.05%
- YTD
- 3.68%
- 1Y
- 8.03%
- 3Y*
- 10.31%
- 5Y*
- 2.83%
- 10Y*
- —
FLUC.L vs. HYGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLUC.L Franklin USD Investment Grade Corporate Bond UCITS ETF USD (Dist) | -0.38% | 7.46% | 2.08% | 7.77% | -15.53% | -2.24% | 9.76% | 14.52% | 0.68% |
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) | 3.68% | 9.22% | 11.83% | 7.02% | -12.94% | -0.32% | 5.02% | 15.45% | -0.20% |
Correlation
The correlation between FLUC.L and HYGB.L is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2018 | 0.14 |
The correlation between FLUC.L and HYGB.L shifts across timeframes, from 0.02 (1 year) to 0.16 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FLUC.L vs. HYGB.L — Risk / Return Rank
FLUC.L
HYGB.L
FLUC.L vs. HYGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin USD Investment Grade Corporate Bond UCITS ETF USD (Dist) (FLUC.L) and VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.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.
| FLUC.L | HYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.29 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 2.75 | -1.15 |
| Martin ratioReturn relative to average drawdown | 4.39 | 12.04 | -7.66 |
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Drawdowns
FLUC.L vs. HYGB.L - Drawdown Comparison
The maximum FLUC.L drawdown since its inception was -22.30%, smaller than the maximum HYGB.L drawdown of -37.51%. Use the drawdown chart below to compare losses from any high point for FLUC.L and HYGB.L.
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Drawdown Indicators
| FLUC.L | HYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.30% | -37.51% | +15.21% |
Max Drawdown (1Y)Largest decline over 1 year | -2.61% | -2.91% | +0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -6.03% | -4.72% | -1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -22.12% | -25.04% | +2.92% |
Current DrawdownCurrent decline from peak | -2.74% | -3.40% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -6.53% | -21.18% | +14.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.67% | +0.28% |
Volatility
FLUC.L vs. HYGB.L - Volatility Comparison
Franklin USD Investment Grade Corporate Bond UCITS ETF USD (Dist) (FLUC.L) and VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.L) have volatilities of 1.37% and 1.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLUC.L | HYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 1.31% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.75% | 4.67% | -0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.93% | 5.35% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.76% | 17.85% | -11.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.08% | 17.17% | -10.09% |
FLUC.L vs. HYGB.L - Expense Ratio Comparison
FLUC.L has a 0.35% expense ratio, which is lower than HYGB.L's 0.40% expense ratio.
Dividends
FLUC.L vs. HYGB.L - Dividend Comparison
FLUC.L's dividend yield for the trailing twelve months is around 4.22%, while HYGB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FLUC.L Franklin USD Investment Grade Corporate Bond UCITS ETF USD (Dist) | 4.22% | 4.01% | 4.26% | 3.38% | 2.76% | 2.17% | 2.29% | 3.37% | 1.61% |
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FLUC.L and HYGB.L have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLUC.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLUC.L is cheaper with a 0.35% expense ratio, compared with 0.40% for HYGB.L.
FLUC.L is categorized as Corporate Bonds, while HYGB.L is Emerging Markets Bonds. FLUC.L tracks Bloomberg US Corporate - Investment Grade Index, while HYGB.L tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: Franklin and VanEck. Their fees differ too: 0.35% for FLUC.L and 0.40% for HYGB.L.
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