GAAA.L vs. HYG
Compare and contrast key facts about iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc) (GAAA.L) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG).
GAAA.L and HYG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GAAA.L is a passively managed fund by iShares that tracks the performance of the Bloomberg Global Aggregate TR USD. It was launched on Jun 29, 2018. HYG is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid High Yield Index. It was launched on Apr 11, 2007. Both GAAA.L and HYG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
GAAA.L vs. HYG - Performance Comparison
Loading graphics...
GAAA.L vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GAAA.L iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc) | -0.80% | 10.43% | -5.07% | 8.26% | -20.61% | -8.76% | 12.37% | 4.92% | -1.16% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | -0.11% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -1.71% |
Returns By Period
In the year-to-date period, GAAA.L achieves a -0.80% return, which is significantly lower than HYG's -0.11% return.
GAAA.L
- 1D
- 0.79%
- 1M
- -2.48%
- YTD
- -0.80%
- 6M
- -0.44%
- 1Y
- 6.78%
- 3Y*
- 2.93%
- 5Y*
- -2.78%
- 10Y*
- —
HYG
- 1D
- 0.24%
- 1M
- -0.65%
- YTD
- -0.11%
- 6M
- 0.93%
- 1Y
- 6.91%
- 3Y*
- 7.99%
- 5Y*
- 3.66%
- 10Y*
- 5.16%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
GAAA.L vs. HYG - Expense Ratio Comparison
GAAA.L has a 0.20% expense ratio, which is lower than HYG's 0.49% expense ratio.
Return for Risk
GAAA.L vs. HYG — Risk / Return Rank
GAAA.L
HYG
GAAA.L vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc) (GAAA.L) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
| GAAA.L | HYG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.89 | 1.25 | -0.35 |
Sortino ratioReturn per unit of downside risk | 1.34 | 1.87 | -0.53 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.29 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | 1.31 | 1.82 | -0.51 |
Martin ratioReturn relative to average drawdown | 4.01 | 9.57 | -5.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| GAAA.L | HYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 1.25 | -0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.32 | 0.49 | -0.81 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.62 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.08 | 0.45 | -0.53 |
Correlation
The correlation between GAAA.L and HYG is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
GAAA.L vs. HYG - Dividend Comparison
GAAA.L has not paid dividends to shareholders, while HYG's dividend yield for the trailing twelve months is around 5.88%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAAA.L iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.88% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
Drawdowns
GAAA.L vs. HYG - Drawdown Comparison
The maximum GAAA.L drawdown since its inception was -33.06%, roughly equal to the maximum HYG drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for GAAA.L and HYG.
Loading graphics...
Drawdown Indicators
| GAAA.L | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.06% | -34.25% | +1.19% |
Max Drawdown (1Y)Largest decline over 1 year | -5.08% | -3.93% | -1.15% |
Max Drawdown (5Y)Largest decline over 5 years | -30.55% | -15.79% | -14.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.03% | — |
Current DrawdownCurrent decline from peak | -18.45% | -1.05% | -17.40% |
Average DrawdownAverage peak-to-trough decline | -13.72% | -3.27% | -10.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.66% | 0.75% | +0.91% |
Volatility
GAAA.L vs. HYG - Volatility Comparison
iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc) (GAAA.L) has a higher volatility of 2.84% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 2.30%. This indicates that GAAA.L's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| GAAA.L | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.84% | 2.30% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 4.76% | 2.93% | +1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.58% | 5.57% | +2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.80% | 7.51% | +1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.94% | 8.31% | -0.37% |