GHYS.L vs. JHYP.L
GHYS.L (iShares Global High Yield Corp Bond GBP Hedged UCITS ETF) and JHYP.L (JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist)) are both High Yield Bonds funds - GHYS.L tracks the Markit iBoxx Global Developed Markets Liquid High Yield Capped Index (GBP Hedged) while JHYP.L tracks the ICE BofA Gbl HY Constnd TR HGBP. Both are passively managed. Over the past 5 years, GHYS.L returned 3.51%/yr vs 3.69%/yr for JHYP.L. A 0.74 correlation means they provide meaningful diversification when combined. GHYS.L charges 0.55%/yr vs 0.35%/yr for JHYP.L.
Performance
GHYS.L vs. JHYP.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 JHYP.L's 2.14% 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%
JHYP.L
- 1D
- 0.13%
- 1M
- 0.65%
- YTD
- 2.14%
- 6M
- 2.89%
- 1Y
- 8.43%
- 3Y*
- 8.74%
- 5Y*
- 3.69%
- 10Y*
- —
GHYS.L vs. JHYP.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% | 13.30% |
JHYP.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) | 2.14% | 9.26% | 7.69% | 9.79% | -10.02% | 2.97% | 14.80% |
Correlation
The correlation between GHYS.L and JHYP.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since May 1, 2020 | 0.74 |
Over the past year, the correlation between GHYS.L and JHYP.L has dropped to 0.44 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.
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Return for Risk
GHYS.L vs. JHYP.L — Risk / Return Rank
GHYS.L
JHYP.L
GHYS.L vs. JHYP.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 - GBP Hedged (dist) (JHYP.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 | JHYP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.38 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 3.41 | -1.53 |
| Martin ratioReturn relative to average drawdown | 8.55 | 14.15 | -5.60 |
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 | JHYP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.27 | 2.05 | -0.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.66 | -0.07 |
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 | 1.01 | -0.42 |
Drawdowns
GHYS.L vs. JHYP.L - Drawdown Comparison
The maximum GHYS.L drawdown since its inception was -25.15%, which is greater than JHYP.L's maximum drawdown of -15.44%. Use the drawdown chart below to compare losses from any high point for GHYS.L and JHYP.L.
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Drawdown Indicators
| GHYS.L | JHYP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.15% | -15.44% | -9.71% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -2.46% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | -4.58% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -14.70% | -15.44% | +0.74% |
Max Drawdown (10Y)Largest decline over 10 years | -25.15% | — | — |
Current DrawdownCurrent decline from peak | -0.34% | -0.03% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -2.29% | -3.22% | +0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.59% | +0.06% |
Volatility
GHYS.L vs. JHYP.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 - GBP Hedged (dist) (JHYP.L) at 1.06%. This indicates that GHYS.L's price experiences larger fluctuations and is considered to be riskier than JHYP.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 | JHYP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.06% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 3.79% | 2.73% | +1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 4.10% | +0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.98% | 5.62% | +0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.15% | 5.68% | +1.47% |
GHYS.L vs. JHYP.L - Expense Ratio Comparison
GHYS.L has a 0.55% expense ratio, which is higher than JHYP.L's 0.35% expense ratio.
Dividends
GHYS.L vs. JHYP.L - Dividend Comparison
GHYS.L's dividend yield for the trailing twelve months is around 5.73%, less than JHYP.L's 5.97% 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 | 5.73% | 5.68% | 5.78% | 5.36% | 4.41% | 3.78% | 4.08% | 5.03% | 4.89% | 4.58% | 4.91% | 5.65% |
JHYP.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) | 5.97% | 6.58% | 5.96% | 8.55% | 5.62% | 4.37% | 0.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GHYS.L and JHYP.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JHYP.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JHYP.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 JHYP.L tracks ICE BofA Gbl HY Constnd TR HGBP. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.55% for GHYS.L and 0.35% for JHYP.L.
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