GFGB.L vs. HYSD.L
GFGB.L (VanEck Global Fallen Angel High Yield Bond UCITS ETF) and HYSD.L (iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) are both High Yield Bonds funds - GFGB.L tracks the ICE BofA Gbl HY Constnd TR USD while HYSD.L tracks the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 3 years, GFGB.L returned 7.30%/yr vs 7.99%/yr for HYSD.L. At a 0.21 correlation, their price movements are largely independent. GFGB.L charges 0.40%/yr vs 0.22%/yr for HYSD.L.
Performance
GFGB.L vs. HYSD.L - Performance Comparison
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Returns By Period
In the year-to-date period, GFGB.L achieves a 3.33% return, which is significantly higher than HYSD.L's 1.97% return.
GFGB.L
- 1D
- -0.53%
- 1M
- -1.21%
- 6M
- 2.63%
- YTD
- 3.33%
- 1Y
- 6.24%
- 3Y*
- 7.30%
- 5Y*
- 3.45%
- 10Y*
- —
HYSD.L
- 1D
- 0.00%
- 1M
- 0.31%
- 6M
- 1.29%
- YTD
- 1.97%
- 1Y
- 5.49%
- 3Y*
- 7.99%
- 5Y*
- —
- 10Y*
- —
GFGB.L vs. HYSD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GFGB.L VanEck Global Fallen Angel High Yield Bond UCITS ETF | 3.33% | 2.41% | 7.86% | 4.28% | 2.19% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.97% | 8.24% | 7.60% | 11.75% | -3.60% |
Correlation
The correlation between GFGB.L and HYSD.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2022 | 0.21 |
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Return for Risk
GFGB.L vs. HYSD.L — Risk / Return Rank
GFGB.L
HYSD.L
GFGB.L vs. HYSD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFGB.L) and iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.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.
| GFGB.L | HYSD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.28 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 2.26 | -0.27 |
| Martin ratioReturn relative to average drawdown | 4.97 | 9.94 | -4.97 |
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Drawdowns
GFGB.L vs. HYSD.L - Drawdown Comparison
The maximum GFGB.L drawdown since its inception was -28.88%, which is greater than HYSD.L's maximum drawdown of -9.53%. Use the drawdown chart below to compare losses from any high point for GFGB.L and HYSD.L.
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Drawdown Indicators
| GFGB.L | HYSD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.88% | -9.53% | -19.35% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -2.42% | -0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -7.55% | -5.02% | -2.53% |
Max Drawdown (5Y)Largest decline over 5 years | -10.36% | — | — |
Current DrawdownCurrent decline from peak | -2.51% | -0.10% | -2.41% |
Average DrawdownAverage peak-to-trough decline | -9.25% | -1.50% | -7.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 0.55% | +0.67% |
Volatility
GFGB.L vs. HYSD.L - Volatility Comparison
VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFGB.L) has a higher volatility of 2.13% compared to iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.L) at 0.91%. This indicates that GFGB.L's price experiences larger fluctuations and is considered to be riskier than HYSD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GFGB.L | HYSD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.13% | 0.91% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 6.04% | 3.13% | +2.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.08% | 3.88% | +3.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.86% | 6.08% | +1.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.07% | 6.08% | +6.99% |
GFGB.L vs. HYSD.L - Expense Ratio Comparison
GFGB.L has a 0.40% expense ratio, which is higher than HYSD.L's 0.22% expense ratio.
Dividends
GFGB.L vs. HYSD.L - Dividend Comparison
GFGB.L has not paid dividends to shareholders, while HYSD.L's dividend yield for the trailing twelve months is around 7.39%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GFGB.L VanEck Global Fallen Angel High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 7.39% | 7.39% | 7.39% | 5.61% |
Frequently Asked Questions
GFGB.L and HYSD.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYSD.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYSD.L is cheaper with a 0.22% expense ratio, compared with 0.40% for GFGB.L.
GFGB.L tracks ICE BofA Gbl HY Constnd TR USD, while HYSD.L tracks ICE BofA US High Yield Constrained Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for GFGB.L and 0.22% for HYSD.L.
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