GHYS.L vs. HYSD.L
GHYS.L (iShares Global High Yield Corp Bond GBP Hedged UCITS ETF) and HYSD.L (iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) are both High Yield Bonds funds from iShares - GHYS.L tracks the Markit iBoxx Global Developed Markets Liquid High Yield Capped Index (GBP Hedged) while HYSD.L tracks the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 3 years, GHYS.L returned 7.68%/yr vs 7.92%/yr for HYSD.L. A 0.66 correlation means they provide meaningful diversification when combined. GHYS.L charges 0.55%/yr vs 0.22%/yr for HYSD.L.
Performance
GHYS.L vs. HYSD.L - Performance Comparison
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Returns By Period
In the year-to-date period, GHYS.L achieves a 1.86% return, which is significantly higher than HYSD.L's 1.76% return.
GHYS.L
- 1D
- -0.20%
- 1M
- 0.46%
- 6M
- 1.48%
- YTD
- 1.86%
- 1Y
- 5.05%
- 3Y*
- 7.68%
- 5Y*
- 3.51%
- 10Y*
- 3.84%
- ALL TIME*
- 4.09%
HYSD.L
- 1D
- -0.21%
- 1M
- 0.10%
- 6M
- 1.29%
- YTD
- 1.76%
- 1Y
- 5.27%
- 3Y*
- 7.92%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.36%
GHYS.L vs. HYSD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GHYS.L iShares Global High Yield Corp Bond GBP Hedged UCITS ETF | 1.86% | 7.56% | 6.95% | 11.60% | -2.21% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.76% | 8.24% | 7.60% | 11.75% | -3.60% |
Correlation
The correlation between GHYS.L and HYSD.L is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2022 | 0.66 |
The correlation between GHYS.L and HYSD.L shifts across timeframes, from 0.52 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GHYS.L vs. HYSD.L — Risk / Return Rank
GHYS.L
HYSD.L
GHYS.L vs. HYSD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corp Bond GBP Hedged UCITS ETF (GHYS.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.
| GHYS.L | HYSD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.27 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 2.17 | -0.47 |
| Martin ratioReturn relative to average drawdown | 7.45 | 9.54 | -2.09 |
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Drawdowns
GHYS.L vs. HYSD.L - Drawdown Comparison
The maximum GHYS.L drawdown since its inception was -25.16%, 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 GHYS.L and HYSD.L.
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Drawdown Indicators
| GHYS.L | HYSD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.16% | -9.53% | -15.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -2.42% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | -5.02% | +0.48% |
Max Drawdown (5Y)Largest decline over 5 years | -14.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.16% | — | — |
Current DrawdownCurrent decline from peak | -0.50% | -0.30% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -1.50% | -0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.55% | +0.13% |
Volatility
GHYS.L vs. HYSD.L - Volatility Comparison
iShares Global High Yield Corp Bond GBP Hedged UCITS ETF (GHYS.L) and iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.L) have volatilities of 0.95% and 0.94%, 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
| GHYS.L | HYSD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 0.94% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.07% | 3.13% | +0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.64% | 3.88% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 6.08% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.11% | 6.08% | +1.03% |
GHYS.L vs. HYSD.L - Expense Ratio Comparison
GHYS.L has a 0.55% expense ratio, which is higher than HYSD.L's 0.22% expense ratio.
Dividends
GHYS.L vs. HYSD.L - Dividend Comparison
GHYS.L's dividend yield for the trailing twelve months is around 7.26%, less than HYSD.L's 7.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYS.L iShares Global High Yield Corp Bond GBP Hedged UCITS ETF | 7.26% | 5.68% | 5.77% | 5.36% | 4.41% | 3.78% | 4.08% | 5.03% | 4.89% | 4.58% | 4.91% | 5.65% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 7.40% | 7.39% | 7.39% | 5.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GHYS.L and HYSD.L have a correlation of 0.52, 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 0.55% for GHYS.L.
GHYS.L tracks Markit iBoxx Global Developed Markets Liquid High Yield Capped Index (GBP Hedged), while HYSD.L tracks ICE BofA US High Yield Constrained Index. Their fees differ too: 0.55% for GHYS.L and 0.22% for HYSD.L.
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