GLDV.MI vs. GHYG
GLDV.MI (SPDR S&P Global Dividend Aristocrats UCITS) and GHYG (iShares US & Intl High Yield Corp Bond ETF) are both exchange-traded funds - GLDV.MI is a Global Equity Income fund tracking the S&P Global BMI Index, while GHYG is a High Yield Bonds fund tracking the Markit iBoxx Global Developed Markets High Yield Index. Both are passively managed. Over the past 10 years, GLDV.MI returned 6.23%/yr vs 4.53%/yr for GHYG. At a 0.39 correlation, their price movements are largely independent. GLDV.MI charges 0.45%/yr vs 0.40%/yr for GHYG.
Performance
GLDV.MI vs. GHYG - Performance Comparison
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Different Trading Currencies
GLDV.MI is traded in EUR, while GHYG is traded in USD. To make them comparable, the GHYG values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLDV.MI achieves a 7.40% return, which is significantly higher than GHYG's 1.72% return. Over the past 10 years, GLDV.MI has outperformed GHYG with an annualized return of 6.23%, while GHYG has yielded a comparatively lower 4.53% annualized return.
GLDV.MI
- 1D
- 0.51%
- 1M
- 0.26%
- YTD
- 7.40%
- 6M
- 8.14%
- 1Y
- 15.47%
- 3Y*
- 11.60%
- 5Y*
- 6.54%
- 10Y*
- 6.23%
GHYG
- 1D
- -0.18%
- 1M
- 0.98%
- YTD
- 1.72%
- 6M
- 1.68%
- 1Y
- 4.50%
- 3Y*
- 6.05%
- 5Y*
- 4.23%
- 10Y*
- 4.53%
GLDV.MI vs. GHYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLDV.MI SPDR S&P Global Dividend Aristocrats UCITS | 7.40% | 4.55% | 14.31% | 3.25% | -1.62% | 25.05% | -16.89% | 22.98% | -4.10% | 4.11% |
GHYG iShares US & Intl High Yield Corp Bond ETF | 1.72% | -1.93% | 12.84% | 9.90% | -6.71% | 9.23% | -2.12% | 16.04% | 0.72% | -4.42% |
Correlation
The correlation between GLDV.MI and GHYG is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2014 | 0.39 |
The correlation between GLDV.MI and GHYG shifts across timeframes, from 0.27 (3 years) to 0.39 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GLDV.MI vs. GHYG — Risk / Return Rank
GLDV.MI
GHYG
GLDV.MI vs. GHYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Global Dividend Aristocrats UCITS (GLDV.MI) and iShares US & Intl High Yield Corp Bond ETF (GHYG). 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.
| GLDV.MI | GHYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.16 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 1.74 | +1.07 |
| Martin ratioReturn relative to average drawdown | 9.02 | 4.86 | +4.16 |
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
| GLDV.MI | GHYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 0.87 | +0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.59 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.50 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.57 | -0.09 |
Drawdowns
GLDV.MI vs. GHYG - Drawdown Comparison
The maximum GLDV.MI drawdown since its inception was -41.02%, which is greater than GHYG's maximum drawdown of -26.69%. Use the drawdown chart below to compare losses from any high point for GLDV.MI and GHYG.
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Drawdown Indicators
| GLDV.MI | GHYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.02% | -26.69% | -14.33% |
Max Drawdown (1Y)Largest decline over 1 year | -5.51% | -2.61% | -2.90% |
Max Drawdown (3Y)Largest decline over 3 years | -16.81% | -9.94% | -6.87% |
Max Drawdown (5Y)Largest decline over 5 years | -18.38% | -9.94% | -8.44% |
Max Drawdown (10Y)Largest decline over 10 years | -41.02% | -26.69% | -14.33% |
Current DrawdownCurrent decline from peak | -1.29% | -2.35% | +1.06% |
Average DrawdownAverage peak-to-trough decline | -6.84% | -3.62% | -3.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 0.93% | +0.79% |
Volatility
GLDV.MI vs. GHYG - Volatility Comparison
SPDR S&P Global Dividend Aristocrats UCITS (GLDV.MI) has a higher volatility of 2.37% compared to iShares US & Intl High Yield Corp Bond ETF (GHYG) at 1.27%. This indicates that GLDV.MI's price experiences larger fluctuations and is considered to be riskier than GHYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDV.MI | GHYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 1.27% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 6.50% | 3.65% | +2.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.03% | 5.20% | +3.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.35% | 7.23% | +5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.78% | 9.02% | +5.76% |
GLDV.MI vs. GHYG - Expense Ratio Comparison
GLDV.MI has a 0.45% expense ratio, which is higher than GHYG's 0.40% expense ratio.
Dividends
GLDV.MI vs. GHYG - Dividend Comparison
GLDV.MI's dividend yield for the trailing twelve months is around 3.89%, less than GHYG's 6.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYG iShares US & Intl High Yield Corp Bond ETF | 6.24% | 6.03% | 6.11% | 5.60% | 4.64% | 4.57% | 4.36% | 4.61% | 5.62% | 4.60% | 4.61% | 4.79% |
GLDV.MI SPDR S&P Global Dividend Aristocrats UCITS | 3.89% | 4.25% | 3.73% | 4.25% | 4.51% | 3.57% | 3.97% | 3.46% | 5.10% | 3.36% | 3.62% | 3.80% |
Frequently Asked Questions
GLDV.MI and GHYG have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GHYG is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GHYG is cheaper with a 0.40% expense ratio, compared with 0.45% for GLDV.MI.
GLDV.MI is categorized as Global Equity Income, while GHYG is High Yield Bonds. GLDV.MI tracks S&P Global BMI Index, while GHYG tracks Markit iBoxx Global Developed Markets High Yield Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.45% for GLDV.MI and 0.40% for GHYG.
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