GLIN.AX vs. IHHY.AX

Last updated Jul 18, 2026

GLIN.AX (iShares Core FTSE Global Infrastructure (AUD Hedged) ETF) and IHHY.AX (iShares Global High Yield Bond (AUD Hedged) ETF) are both exchange-traded funds - GLIN.AX is a Global Equities fund tracking the iShares Core FTSE Global Infrastructure (AUD Hedged) Index, while IHHY.AX is a Total Bond Market fund tracking the iShares Global High Yield Bond (AUD Hedged) Index. Both are passively managed. Over the past 3 years, GLIN.AX returned 13.04%/yr vs 7.17%/yr for IHHY.AX. At a 0.13 correlation, their price movements are largely independent.

Performance

GLIN.AX vs. IHHY.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in iShares Core FTSE Global Infrastructure (AUD Hedged) ETF (GLIN.AX) and iShares Global High Yield Bond (AUD Hedged) ETF (IHHY.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLIN.AX achieves a 13.94% return, which is significantly higher than IHHY.AX's 1.70% return.

GLIN.AX

• 1D: 1.33%
• 1M: 2.38%
• 6M: 12.31%
• YTD: 13.94%
• 1Y: 19.56%
• 3Y*: 13.04%
• 5Y*: —
• 10Y*: —

IHHY.AX

• 1D: -0.38%
• 1M: -0.09%
• 6M: 1.39%
• YTD: 1.70%
• 1Y: 4.88%
• 3Y*: 7.17%
• 5Y*: 2.97%
• 10Y*: 3.65%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GLIN.AX vs. IHHY.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GLIN.AX iShares Core FTSE Global Infrastructure (AUD Hedged) ETF	13.94%	12.04%	12.01%	0.06%
IHHY.AX iShares Global High Yield Bond (AUD Hedged) ETF	1.70%	7.65%	6.11%	7.76%

Correlation

The correlation between GLIN.AX and IHHY.AX is 0.01, 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	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (All Time) Calculated using the full available price history since May 19, 2023	0.13

The correlation between GLIN.AX and IHHY.AX shifts across timeframes, from 0.01 (1 year) to 0.14 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

GLIN.AX vs. IHHY.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GLIN.AX

GLIN.AX Risk / Return Rank: 75
GLIN.AX Sharpe Ratio Rank: 74
GLIN.AX Sortino Ratio Rank: 73
GLIN.AX Omega Ratio Rank: 70
GLIN.AX Calmar Ratio Rank: 83
GLIN.AX Martin Ratio Rank: 75

IHHY.AX

IHHY.AX Risk / Return Rank: 40
IHHY.AX Sharpe Ratio Rank: 33
IHHY.AX Sortino Ratio Rank: 32
IHHY.AX Omega Ratio Rank: 34
IHHY.AX Calmar Ratio Rank: 45
IHHY.AX Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GLIN.AX vs. IHHY.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core FTSE Global Infrastructure (AUD Hedged) ETF (GLIN.AX) and iShares Global High Yield Bond (AUD Hedged) ETF (IHHY.AX). 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.

	GLIN.AX	IHHY.AX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	0.91	+0.86
Sortino ratio: Return per unit of downside risk	2.49	1.35	+1.14
Omega ratio: Gain probability vs. loss probability	1.31	1.18	+0.13
Calmar ratio: Return relative to maximum drawdown	3.30	1.77	+1.53
Martin ratio: Return relative to average drawdown	10.27	6.77	+3.50

GLIN.AX vs. IHHY.AX - Sharpe Ratio Comparison

The current GLIN.AX Sharpe Ratio is 1.77, which is higher than the IHHY.AX Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of GLIN.AX and IHHY.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GLIN.AX vs. IHHY.AX - Drawdown Comparison

The maximum GLIN.AX drawdown since its inception was -12.66%, smaller than the maximum IHHY.AX drawdown of -31.56%. Use the drawdown chart below to compare losses from any high point for GLIN.AX and IHHY.AX.

Drawdown Indicators

	GLIN.AX	IHHY.AX	Difference
Max Drawdown Largest peak-to-trough decline	-12.66%	-31.56%	+18.90%
Max Drawdown (1Y) Largest decline over 1 year	-5.76%	-2.68%	-3.08%
Max Drawdown (3Y) Largest decline over 3 years	-12.66%	-6.82%	-5.84%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.99%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.56%	—
Current Drawdown Current decline from peak	0.00%	-0.41%	+0.41%
Average Drawdown Average peak-to-trough decline	-2.24%	-2.78%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	0.71%	+1.16%

Volatility

GLIN.AX vs. IHHY.AX - Volatility Comparison

iShares Core FTSE Global Infrastructure (AUD Hedged) ETF (GLIN.AX) has a higher volatility of 3.11% compared to iShares Global High Yield Bond (AUD Hedged) ETF (IHHY.AX) at 1.73%. This indicates that GLIN.AX's price experiences larger fluctuations and is considered to be riskier than IHHY.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLIN.AX	IHHY.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	1.73%	+1.38%
Volatility (6M) Calculated over the trailing 6-month period	8.89%	4.75%	+4.14%
Volatility (1Y) Calculated over the trailing 1-year period	10.75%	5.21%	+5.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.34%	8.07%	+4.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.34%	10.03%	+2.31%

Dividends

GLIN.AX vs. IHHY.AX - Dividend Comparison

GLIN.AX's dividend yield for the trailing twelve months is around 5.85%, less than IHHY.AX's 6.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GLIN.AX iShares Core FTSE Global Infrastructure (AUD Hedged) ETF	5.85%	2.94%	2.60%	1.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IHHY.AX iShares Global High Yield Bond (AUD Hedged) ETF	6.90%	5.59%	5.87%	4.99%	3.70%	3.95%	5.24%	2.29%	3.11%	6.98%	2.71%

Frequently Asked Questions

Can I hold both GLIN.AX and IHHY.AX in my portfolio?

GLIN.AX and IHHY.AX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between GLIN.AX and IHHY.AX?

GLIN.AX is categorized as Global Equities, while IHHY.AX is Total Bond Market. GLIN.AX tracks iShares Core FTSE Global Infrastructure (AUD Hedged) Index, while IHHY.AX tracks iShares Global High Yield Bond (AUD Hedged) Index.