HYEA.L vs. FAHY.L
HYEA.L (iShares Global High Yield Corporate Bond UCITS ETF) and FAHY.L (Invesco US High Yield Fallen Angels UCITS ETF Dist) are both High Yield Bonds funds - HYEA.L tracks the ICE BofA Gbl HY Constnd TR USD while FAHY.L tracks the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 5 years, HYEA.L returned 3.95%/yr vs 3.57%/yr for FAHY.L. A 0.73 correlation means they provide meaningful diversification when combined. HYEA.L charges 0.50%/yr vs 0.45%/yr for FAHY.L.
Performance
HYEA.L vs. FAHY.L - Performance Comparison
Loading charts...
Different Trading Currencies
HYEA.L is traded in EUR, while FAHY.L is traded in GBp. To make them comparable, the FAHY.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with HYEA.L having a 1.74% return and FAHY.L slightly higher at 1.81%.
HYEA.L
- 1D
- 0.03%
- 1M
- 0.88%
- YTD
- 1.74%
- 6M
- 1.78%
- 1Y
- 4.39%
- 3Y*
- 6.09%
- 5Y*
- 3.95%
- 10Y*
- —
FAHY.L
- 1D
- 0.22%
- 1M
- 1.13%
- YTD
- 1.81%
- 6M
- 0.73%
- 1Y
- 6.08%
- 3Y*
- 4.98%
- 5Y*
- 3.57%
- 10Y*
- —
HYEA.L vs. FAHY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYEA.L iShares Global High Yield Corporate Bond UCITS ETF | 1.74% | 1.53% | 9.22% | 9.21% | -6.45% | 8.26% | -1.76% | 14.15% | 0.72% | -1.89% |
FAHY.L Invesco US High Yield Fallen Angels UCITS ETF Dist | 1.81% | -3.24% | 12.09% | 6.35% | -8.48% | 13.76% | -0.36% | 16.17% | -1.15% | -1.91% |
Correlation
The correlation between HYEA.L and FAHY.L is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2017 | 0.73 |
The correlation between HYEA.L and FAHY.L has been stable across timeframes, ranging from 0.64 to 0.73 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HYEA.L vs. FAHY.L — Risk / Return Rank
HYEA.L
FAHY.L
HYEA.L vs. FAHY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corporate Bond UCITS ETF (HYEA.L) and Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.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.
| HYEA.L | FAHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.18 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 1.73 | +0.52 |
| Martin ratioReturn relative to average drawdown | 8.04 | 4.85 | +3.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HYEA.L | FAHY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 1.02 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.42 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.40 | +0.15 |
Drawdowns
HYEA.L vs. FAHY.L - Drawdown Comparison
The maximum HYEA.L drawdown since its inception was -22.34%, smaller than the maximum FAHY.L drawdown of -27.61%. Use the drawdown chart below to compare losses from any high point for HYEA.L and FAHY.L.
Loading charts...
Drawdown Indicators
| HYEA.L | FAHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.34% | -27.61% | +5.27% |
Max Drawdown (1Y)Largest decline over 1 year | -1.89% | -3.52% | +1.63% |
Max Drawdown (3Y)Largest decline over 3 years | -6.63% | -12.24% | +5.61% |
Max Drawdown (5Y)Largest decline over 5 years | -9.74% | -12.24% | +2.50% |
Current DrawdownCurrent decline from peak | 0.00% | -3.19% | +3.19% |
Average DrawdownAverage peak-to-trough decline | -2.61% | -4.43% | +1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 1.26% | -0.73% |
Volatility
HYEA.L vs. FAHY.L - Volatility Comparison
The current volatility for iShares Global High Yield Corporate Bond UCITS ETF (HYEA.L) is 0.89%, while Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.L) has a volatility of 1.21%. This indicates that HYEA.L experiences smaller price fluctuations and is considered to be less risky than FAHY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HYEA.L | FAHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 1.21% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 4.27% | -1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 5.96% | -2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.44% | 8.43% | -2.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 9.92% | -2.99% |
HYEA.L vs. FAHY.L - Expense Ratio Comparison
HYEA.L has a 0.50% expense ratio, which is higher than FAHY.L's 0.45% expense ratio.
Dividends
HYEA.L vs. FAHY.L - Dividend Comparison
HYEA.L has not paid dividends to shareholders, while FAHY.L's dividend yield for the trailing twelve months is around 6.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FAHY.L Invesco US High Yield Fallen Angels UCITS ETF Dist | 6.55% | 6.61% | 6.89% | 6.85% | 5.66% | 4.54% | 6.26% | 6.22% | 6.01% | 5.63% | 1.23% |
HYEA.L iShares Global High Yield Corporate Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYEA.L and FAHY.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FAHY.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FAHY.L is cheaper with a 0.45% expense ratio, compared with 0.50% for HYEA.L.
HYEA.L tracks ICE BofA Gbl HY Constnd TR USD, while FAHY.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.50% for HYEA.L and 0.45% for FAHY.L.
Find the right allocation for HYEA.L and FAHY.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer