GHYS.L vs. JGYH.L
GHYS.L (iShares Global High Yield Corp Bond GBP Hedged UCITS ETF) and JGYH.L (JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF (acc)) are both High Yield Bonds funds - GHYS.L tracks the Markit iBoxx Global Developed Markets Liquid High Yield Capped Index (GBP Hedged) while JGYH.L tracks the ICE BofA Gbl HY Constnd TR USD. Both are passively managed. Over the past 5 years, GHYS.L returned 3.51%/yr vs 4.89%/yr for JGYH.L. At a 0.24 correlation, their price movements are largely independent. GHYS.L charges 0.55%/yr vs 0.35%/yr for JGYH.L.
Performance
GHYS.L vs. JGYH.L - Performance Comparison
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Returns By Period
In the year-to-date period, GHYS.L achieves a 1.32% return, which is significantly lower than JGYH.L's 1.97% return.
GHYS.L
- 1D
- 0.09%
- 1M
- 0.42%
- YTD
- 1.32%
- 6M
- 1.62%
- 1Y
- 5.61%
- 3Y*
- 7.87%
- 5Y*
- 3.51%
- 10Y*
- 4.09%
JGYH.L
- 1D
- 0.17%
- 1M
- 1.39%
- YTD
- 1.97%
- 6M
- 2.21%
- 1Y
- 9.59%
- 3Y*
- 6.40%
- 5Y*
- 4.89%
- 10Y*
- —
GHYS.L vs. JGYH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GHYS.L iShares Global High Yield Corp Bond GBP Hedged UCITS ETF | 1.32% | 7.56% | 6.95% | 11.60% | -9.89% | 3.60% | 2.14% |
JGYH.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF (acc) | 1.97% | 4.09% | 7.92% | 5.18% | 0.63% | 3.10% | -0.09% |
Correlation
The correlation between GHYS.L and JGYH.L is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2020 | 0.24 |
The correlation between GHYS.L and JGYH.L shifts across timeframes, from 0.06 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GHYS.L vs. JGYH.L — Risk / Return Rank
GHYS.L
JGYH.L
GHYS.L vs. JGYH.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 JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF (acc) (JGYH.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.
| GHYS.L | JGYH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.36 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 3.97 | -2.08 |
| Martin ratioReturn relative to average drawdown | 8.55 | 11.86 | -3.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GHYS.L | JGYH.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.27 | 1.93 | -0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.71 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.42 | +0.16 |
Drawdowns
GHYS.L vs. JGYH.L - Drawdown Comparison
The maximum GHYS.L drawdown since its inception was -25.15%, which is greater than JGYH.L's maximum drawdown of -12.24%. Use the drawdown chart below to compare losses from any high point for GHYS.L and JGYH.L.
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Drawdown Indicators
| GHYS.L | JGYH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.15% | -12.24% | -12.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -2.41% | -0.56% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | -7.56% | +3.02% |
Max Drawdown (5Y)Largest decline over 5 years | -14.70% | -7.75% | -6.95% |
Max Drawdown (10Y)Largest decline over 10 years | -25.15% | — | — |
Current DrawdownCurrent decline from peak | -0.34% | 0.00% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -2.29% | -2.52% | +0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.81% | -0.16% |
Volatility
GHYS.L vs. JGYH.L - Volatility Comparison
iShares Global High Yield Corp Bond GBP Hedged UCITS ETF (GHYS.L) has a higher volatility of 1.48% compared to JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF (acc) (JGYH.L) at 1.22%. This indicates that GHYS.L's price experiences larger fluctuations and is considered to be riskier than JGYH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GHYS.L | JGYH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.22% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 3.79% | 3.56% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 4.94% | -0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.98% | 6.92% | -0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.15% | 8.60% | -1.45% |
GHYS.L vs. JGYH.L - Expense Ratio Comparison
GHYS.L has a 0.55% expense ratio, which is higher than JGYH.L's 0.35% expense ratio.
Dividends
GHYS.L vs. JGYH.L - Dividend Comparison
GHYS.L's dividend yield for the trailing twelve months is around 5.73%, while JGYH.L has not paid dividends to shareholders.
| 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 | 5.73% | 5.68% | 5.78% | 5.36% | 4.41% | 3.78% | 4.08% | 5.03% | 4.89% | 4.58% | 4.91% | 5.65% |
JGYH.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF (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% |
Frequently Asked Questions
GHYS.L and JGYH.L have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JGYH.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JGYH.L is cheaper with a 0.35% 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 JGYH.L tracks ICE BofA Gbl HY Constnd TR USD. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.55% for GHYS.L and 0.35% for JGYH.L.
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