GBHY.L vs. TAHY.L
GBHY.L (Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF Dist) and TAHY.L (Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc)) are both High Yield Bonds funds - GBHY.L tracks the Bloomberg MSCI Global High Yield Liquid Corporate Climate Transition ESG Bond Index while TAHY.L tracks the iBoxx MSCI Scored & Screened Tilted USD Asia ex-Japan High Yield Capped TCA Index. Both are passively managed. Over the past 3 years, GBHY.L returned 7.76%/yr vs 8.17%/yr for TAHY.L. At a 0.20 correlation, their price movements are largely independent. GBHY.L charges 0.25%/yr vs 0.60%/yr for TAHY.L.
Performance
GBHY.L vs. TAHY.L - Performance Comparison
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Returns By Period
In the year-to-date period, GBHY.L achieves a 1.20% return, which is significantly lower than TAHY.L's 3.88% return.
GBHY.L
- 1D
- 0.00%
- 1M
- -0.26%
- 6M
- 1.12%
- YTD
- 1.20%
- 1Y
- 4.93%
- 3Y*
- 7.76%
- 5Y*
- —
- 10Y*
- —
TAHY.L
- 1D
- 0.00%
- 1M
- 0.24%
- 6M
- 2.85%
- YTD
- 3.88%
- 1Y
- 6.69%
- 3Y*
- 8.17%
- 5Y*
- —
- 10Y*
- —
GBHY.L vs. TAHY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GBHY.L Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF Dist | 1.20% | 10.42% | 5.93% | 9.81% |
TAHY.L Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) | 3.88% | 7.26% | 17.54% | -17.08% |
Correlation
The correlation between GBHY.L and TAHY.L is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jan 10, 2023 | 0.20 |
The correlation between GBHY.L and TAHY.L shifts across timeframes, from 0.09 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GBHY.L vs. TAHY.L — Risk / Return Rank
GBHY.L
TAHY.L
GBHY.L vs. TAHY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF Dist (GBHY.L) and Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) (TAHY.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.
| GBHY.L | TAHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.38 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 2.59 | -1.10 |
| Martin ratioReturn relative to average drawdown | 5.84 | 7.38 | -1.54 |
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Drawdowns
GBHY.L vs. TAHY.L - Drawdown Comparison
The maximum GBHY.L drawdown since its inception was -5.09%, smaller than the maximum TAHY.L drawdown of -51.61%. Use the drawdown chart below to compare losses from any high point for GBHY.L and TAHY.L.
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Drawdown Indicators
| GBHY.L | TAHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.09% | -51.61% | +46.52% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -2.57% | -0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -4.17% | -9.81% | +5.64% |
Current DrawdownCurrent decline from peak | -0.35% | -17.10% | +16.75% |
Average DrawdownAverage peak-to-trough decline | -0.91% | -26.81% | +25.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.91% | -0.07% |
Volatility
GBHY.L vs. TAHY.L - Volatility Comparison
The current volatility for Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF Dist (GBHY.L) is 0.69%, while Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) (TAHY.L) has a volatility of 1.07%. This indicates that GBHY.L experiences smaller price fluctuations and is considered to be less risky than TAHY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBHY.L | TAHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 1.07% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 2.83% | +0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.49% | 3.64% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.61% | 13.09% | -7.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.61% | 13.09% | -7.48% |
GBHY.L vs. TAHY.L - Expense Ratio Comparison
GBHY.L has a 0.25% expense ratio, which is lower than TAHY.L's 0.60% expense ratio.
Dividends
GBHY.L vs. TAHY.L - Dividend Comparison
GBHY.L's dividend yield for the trailing twelve months is around 6.60%, while TAHY.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GBHY.L Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF Dist | 6.60% | 6.49% | 6.89% | 5.78% |
TAHY.L Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GBHY.L and TAHY.L have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GBHY.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GBHY.L is cheaper with a 0.25% expense ratio, compared with 0.60% for TAHY.L.
GBHY.L tracks Bloomberg MSCI Global High Yield Liquid Corporate Climate Transition ESG Bond Index, while TAHY.L tracks iBoxx MSCI Scored & Screened Tilted USD Asia ex-Japan High Yield Capped TCA Index. They also come from different issuers: Invesco and Janus Henderson. Their fees differ too: 0.25% for GBHY.L and 0.60% for TAHY.L.
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