HIGH.L vs. IEAA.L
HIGH.L (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc)) and IEAA.L (iShares Core Euro Corporate Bond UCITS ETF (Acc)) are both exchange-traded funds - HIGH.L is a European High Yield Bonds fund tracking the Bloomberg Pan Euro HY Euro TR EUR, while IEAA.L is a European Corporate Bonds fund tracking the Bloomberg Euro Corp TR EUR. Both are passively managed. Over the past 5 years, HIGH.L returned 2.71%/yr vs 0.09%/yr for IEAA.L. At a 0.46 correlation, their price movements are largely independent. HIGH.L charges 0.50%/yr vs 0.20%/yr for IEAA.L.
Performance
HIGH.L vs. IEAA.L - Performance Comparison
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Returns By Period
In the year-to-date period, HIGH.L achieves a 1.03% return, which is significantly higher than IEAA.L's 0.56% return.
HIGH.L
- 1D
- 0.13%
- 1M
- 0.90%
- YTD
- 1.03%
- 6M
- 1.37%
- 1Y
- 3.20%
- 3Y*
- 6.34%
- 5Y*
- 2.71%
- 10Y*
- —
IEAA.L
- 1D
- 0.13%
- 1M
- 0.79%
- YTD
- 0.56%
- 6M
- 0.43%
- 1Y
- 1.97%
- 3Y*
- 4.59%
- 5Y*
- 0.09%
- 10Y*
- —
HIGH.L vs. IEAA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HIGH.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) | 1.03% | 4.81% | 5.78% | 11.51% | -9.32% | 2.82% | 1.10% | 9.76% | -3.46% | 0.37% |
IEAA.L iShares Core Euro Corporate Bond UCITS ETF (Acc) | 0.56% | 3.10% | 4.31% | 7.51% | -13.40% | -1.11% | 2.70% | 6.24% | -1.48% | 0.45% |
Correlation
The correlation between HIGH.L and IEAA.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2017 | 0.46 |
The correlation between HIGH.L and IEAA.L has been stable across timeframes, ranging from 0.46 to 0.54 - a consistent structural relationship.
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Return for Risk
HIGH.L vs. IEAA.L — Risk / Return Rank
HIGH.L
IEAA.L
HIGH.L vs. IEAA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) (HIGH.L) and iShares Core Euro Corporate Bond UCITS ETF (Acc) (IEAA.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.
| HIGH.L | IEAA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.12 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 0.72 | +0.39 |
| Martin ratioReturn relative to average drawdown | 4.65 | 2.55 | +2.10 |
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
| HIGH.L | IEAA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 0.63 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.02 | +0.49 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.18 | +0.19 |
Drawdowns
HIGH.L vs. IEAA.L - Drawdown Comparison
The maximum HIGH.L drawdown since its inception was -25.42%, which is greater than IEAA.L's maximum drawdown of -17.29%. Use the drawdown chart below to compare losses from any high point for HIGH.L and IEAA.L.
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Drawdown Indicators
| HIGH.L | IEAA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.42% | -17.29% | -8.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -2.73% | -0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -3.70% | -2.73% | -0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -14.64% | -17.29% | +2.65% |
Current DrawdownCurrent decline from peak | -0.14% | -1.07% | +0.93% |
Average DrawdownAverage peak-to-trough decline | -2.72% | -4.56% | +1.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.77% | -0.08% |
Volatility
HIGH.L vs. IEAA.L - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) (HIGH.L) is 1.09%, while iShares Core Euro Corporate Bond UCITS ETF (Acc) (IEAA.L) has a volatility of 1.30%. This indicates that HIGH.L experiences smaller price fluctuations and is considered to be less risky than IEAA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIGH.L | IEAA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.30% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.91% | 2.78% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.46% | 3.11% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.32% | 4.47% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.15% | 4.68% | +2.47% |
HIGH.L vs. IEAA.L - Expense Ratio Comparison
HIGH.L has a 0.50% expense ratio, which is higher than IEAA.L's 0.20% expense ratio.
Dividends
HIGH.L vs. IEAA.L - Dividend Comparison
Neither HIGH.L nor IEAA.L has paid dividends to shareholders.
Frequently Asked Questions
HIGH.L and IEAA.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEAA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEAA.L is cheaper with a 0.20% expense ratio, compared with 0.50% for HIGH.L.
HIGH.L is categorized as European High Yield Bonds, while IEAA.L is European Corporate Bonds. HIGH.L tracks Bloomberg Pan Euro HY Euro TR EUR, while IEAA.L tracks Bloomberg Euro Corp TR EUR. Their fees differ too: 0.50% for HIGH.L and 0.20% for IEAA.L.
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