GFEA.DE vs. FAEU.DE

Last updated Jul 16, 2026

GFEA.DE (VanEck Global Fallen Angel High Yield Bond UCITS ETF) and FAEU.DE (Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg)) are both High Yield Bonds funds - GFEA.DE tracks the ICE Global Fallen Angel High Yield 10% Constrained while FAEU.DE tracks the FTSE Time-Weighted US Fallen Angel Bond Select Index. Both are passively managed. Over the past 5 years, GFEA.DE returned 3.70%/yr vs 0.06%/yr for FAEU.DE. At a 0.40 correlation, their price movements are largely independent. GFEA.DE charges 0.40%/yr vs 0.50%/yr for FAEU.DE.

Performance

GFEA.DE vs. FAEU.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.DE) and Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) (FAEU.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GFEA.DE achieves a 6.88% return, which is significantly higher than FAEU.DE's 0.40% return.

GFEA.DE

• 1D: 0.21%
• 1M: 0.94%
• 6M: 6.78%
• YTD: 6.88%
• 1Y: 8.93%
• 3Y*: 7.74%
• 5Y*: 3.70%
• 10Y*: —

FAEU.DE

• 1D: 0.14%
• 1M: 0.18%
• 6M: -0.29%
• YTD: 0.40%
• 1Y: 3.87%
• 3Y*: 5.02%
• 5Y*: 0.06%
• 10Y*: —

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

GFEA.DE vs. FAEU.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GFEA.DE VanEck Global Fallen Angel High Yield Bond UCITS ETF	6.88%	-2.31%	12.21%	6.69%	-7.67%	10.64%	6.81%	16.29%	-16.16%
FAEU.DE Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg)	0.40%	7.55%	2.62%	7.66%	-16.29%	4.49%	6.43%	10.22%	1.64%

Correlation

The correlation between GFEA.DE and FAEU.DE is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Mar 19, 2018	0.40

Over the past year, the correlation between GFEA.DE and FAEU.DE has dropped to 0.19 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

Return for Risk

GFEA.DE vs. FAEU.DE — Risk / Return Rank

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

GFEA.DE

GFEA.DE Risk / Return Rank: 59
GFEA.DE Sharpe Ratio Rank: 43
GFEA.DE Sortino Ratio Rank: 46
GFEA.DE Omega Ratio Rank: 43
GFEA.DE Calmar Ratio Rank: 84
GFEA.DE Martin Ratio Rank: 77

FAEU.DE

FAEU.DE Risk / Return Rank: 23
FAEU.DE Sharpe Ratio Rank: 24
FAEU.DE Sortino Ratio Rank: 23
FAEU.DE Omega Ratio Rank: 24
FAEU.DE Calmar Ratio Rank: 20
FAEU.DE Martin Ratio Rank: 23

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.

GFEA.DE vs. FAEU.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.DE) and Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) (FAEU.DE). 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.

	GFEA.DE	FAEU.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.27	0.74	+0.53
Sortino ratio: Return per unit of downside risk	1.96	1.11	+0.84
Omega ratio: Gain probability vs. loss probability	1.24	1.15	+0.09
Calmar ratio: Return relative to maximum drawdown	3.63	0.72	+2.91
Martin ratio: Return relative to average drawdown	11.55	2.32	+9.24

GFEA.DE vs. FAEU.DE - Sharpe Ratio Comparison

The current GFEA.DE Sharpe Ratio is 1.27, which is higher than the FAEU.DE Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of GFEA.DE and FAEU.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GFEA.DE vs. FAEU.DE - Drawdown Comparison

The maximum GFEA.DE drawdown since its inception was -22.88%, smaller than the maximum FAEU.DE drawdown of -29.94%. Use the drawdown chart below to compare losses from any high point for GFEA.DE and FAEU.DE.

Drawdown Indicators

	GFEA.DE	FAEU.DE	Difference
Max Drawdown Largest peak-to-trough decline	-22.88%	-29.94%	+7.06%
Max Drawdown (1Y) Largest decline over 1 year	-2.45%	-5.38%	+2.93%
Max Drawdown (3Y) Largest decline over 3 years	-9.97%	-5.63%	-4.34%
Max Drawdown (5Y) Largest decline over 5 years	-10.96%	-19.80%	+8.84%
Current Drawdown Current decline from peak	-1.20%	-1.31%	+0.11%
Average Drawdown Average peak-to-trough decline	-4.99%	-6.38%	+1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	1.67%	-0.90%

Volatility

GFEA.DE vs. FAEU.DE - Volatility Comparison

VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.DE) has a higher volatility of 3.15% compared to Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) (FAEU.DE) at 0.94%. This indicates that GFEA.DE's price experiences larger fluctuations and is considered to be riskier than FAEU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GFEA.DE	FAEU.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	0.94%	+2.21%
Volatility (6M) Calculated over the trailing 6-month period	5.40%	4.27%	+1.13%
Volatility (1Y) Calculated over the trailing 1-year period	7.01%	5.25%	+1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.85%	7.44%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.56%	10.53%	+0.03%

GFEA.DE vs. FAEU.DE - Expense Ratio Comparison

GFEA.DE has a 0.40% expense ratio, which is lower than FAEU.DE's 0.50% expense ratio.

Dividends

GFEA.DE vs. FAEU.DE - Dividend Comparison

Neither GFEA.DE nor FAEU.DE has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FAEU.DE Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	0.00%	8.14%
GFEA.DE VanEck Global Fallen Angel High Yield Bond UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GFEA.DE and FAEU.DE in my portfolio?

GFEA.DE and FAEU.DE have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GFEA.DE or FAEU.DE?

On fees, GFEA.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GFEA.DE or FAEU.DE?

GFEA.DE is cheaper with a 0.40% expense ratio, compared with 0.50% for FAEU.DE.

What is the main difference between GFEA.DE and FAEU.DE?

GFEA.DE tracks ICE Global Fallen Angel High Yield 10% Constrained, while FAEU.DE tracks FTSE Time-Weighted US Fallen Angel Bond Select Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.40% for GFEA.DE and 0.50% for FAEU.DE.