HIGH.L vs. SHYG.L
HIGH.L (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc)) and SHYG.L (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) are both European High Yield Bonds funds from iShares tracking the Bloomberg Pan Euro HY Euro TR EUR. Both are passively managed. Over the past 5 years, HIGH.L returned 2.71%/yr vs 1.65%/yr for SHYG.L. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.
Performance
HIGH.L vs. SHYG.L - Performance Comparison
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Different Trading Currencies
HIGH.L is traded in EUR, while SHYG.L is traded in GBP. To make them comparable, the SHYG.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, HIGH.L achieves a 1.03% return, which is significantly higher than SHYG.L's -1.72% 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*
- —
SHYG.L
- 1D
- 0.15%
- 1M
- 1.04%
- YTD
- -1.72%
- 6M
- -1.00%
- 1Y
- -1.90%
- 3Y*
- 4.49%
- 5Y*
- 1.65%
- 10Y*
- 2.58%
HIGH.L vs. SHYG.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% |
SHYG.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | -1.72% | 2.08% | 5.84% | 11.62% | -9.35% | 2.57% | 0.81% | 11.09% | -3.82% | 0.22% |
Correlation
The correlation between HIGH.L and SHYG.L is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2017 | 0.70 |
The correlation between HIGH.L and SHYG.L shifts across timeframes, from 0.62 (1 year) to 0.73 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HIGH.L vs. SHYG.L — Risk / Return Rank
HIGH.L
SHYG.L
HIGH.L vs. SHYG.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 EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (SHYG.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 | SHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.27 | ||
| Sortino ratioReturn per unit of downside risk | +1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.94 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | -0.29 | +1.40 |
| Martin ratioReturn relative to average drawdown | 4.65 | -0.70 | +5.35 |
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 | SHYG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | -0.35 | +1.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.27 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.44 | -0.07 |
Drawdowns
HIGH.L vs. SHYG.L - Drawdown Comparison
The maximum HIGH.L drawdown since its inception was -25.42%, roughly equal to the maximum SHYG.L drawdown of -26.56%. Use the drawdown chart below to compare losses from any high point for HIGH.L and SHYG.L.
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Drawdown Indicators
| HIGH.L | SHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.42% | -26.56% | +1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -6.56% | +3.68% |
Max Drawdown (3Y)Largest decline over 3 years | -3.70% | -6.56% | +2.86% |
Max Drawdown (5Y)Largest decline over 5 years | -14.64% | -15.48% | +0.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.56% | — |
Current DrawdownCurrent decline from peak | -0.14% | -3.36% | +3.22% |
Average DrawdownAverage peak-to-trough decline | -2.72% | -2.37% | -0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 2.70% | -2.01% |
Volatility
HIGH.L vs. SHYG.L - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) (HIGH.L) is 1.09%, while iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (SHYG.L) has a volatility of 1.17%. This indicates that HIGH.L experiences smaller price fluctuations and is considered to be less risky than SHYG.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 | SHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.17% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.91% | 4.35% | -1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.46% | 5.43% | -1.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.32% | 6.19% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.15% | 7.65% | -0.50% |
HIGH.L vs. SHYG.L - Expense Ratio Comparison
Both HIGH.L and SHYG.L have an expense ratio of 0.50%.
Dividends
HIGH.L vs. SHYG.L - Dividend Comparison
Neither HIGH.L nor SHYG.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIGH.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (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% |
SHYG.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 0.00% | 2.75% | 6.24% | 5.39% | 3.58% | 3.13% | 3.66% | 3.86% | 3.65% | 3.74% | 3.83% | 4.55% |
Frequently Asked Questions
HIGH.L and SHYG.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
HIGH.L and SHYG.L have the same expense ratio: 0.50% per year.
Both ETFs track Bloomberg Pan Euro HY Euro TR EUR.
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