HYEA.L vs. HYFC.L
HYEA.L (iShares Global High Yield Corporate Bond UCITS ETF) and HYFC.L (Invesco US High Yield Fallen Angels UCITS ETF Acc) are both High Yield Bonds funds - HYEA.L tracks the ICE BofA Gbl HY Constnd TR USD while HYFC.L tracks the FTSE Time-Weighted US Fallen Angel Bond Select Index. Both are passively managed. Over the past 3 years, HYEA.L returned 6.09%/yr vs 5.07%/yr for HYFC.L. A 0.65 correlation means they provide meaningful diversification when combined. HYEA.L charges 0.50%/yr vs 0.45%/yr for HYFC.L.
Performance
HYEA.L vs. HYFC.L - Performance Comparison
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Different Trading Currencies
HYEA.L is traded in EUR, while HYFC.L is traded in USD. To make them comparable, the HYFC.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 HYFC.L slightly higher at 1.78%.
HYEA.L
- 1D
- 0.03%
- 1M
- 0.88%
- YTD
- 1.74%
- 6M
- 1.78%
- 1Y
- 4.39%
- 3Y*
- 6.09%
- 5Y*
- 3.95%
- 10Y*
- —
HYFC.L
- 1D
- 0.11%
- 1M
- 1.24%
- YTD
- 1.78%
- 6M
- 0.74%
- 1Y
- 6.01%
- 3Y*
- 5.07%
- 5Y*
- —
- 10Y*
- —
HYEA.L vs. HYFC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYEA.L iShares Global High Yield Corporate Bond UCITS ETF | 1.74% | 1.53% | 9.22% | 9.21% | -3.97% |
HYFC.L Invesco US High Yield Fallen Angels UCITS ETF Acc | 1.79% | -3.38% | 12.11% | 6.92% | -7.11% |
Correlation
The correlation between HYEA.L and HYFC.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 | 0.65 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2022 | 0.65 |
The correlation between HYEA.L and HYFC.L has been stable across timeframes, ranging from 0.62 to 0.65 - a consistent structural relationship.
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Return for Risk
HYEA.L vs. HYFC.L — Risk / Return Rank
HYEA.L
HYFC.L
HYEA.L vs. HYFC.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 Acc (HYFC.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 | HYFC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.15 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 1.49 | +0.76 |
| Martin ratioReturn relative to average drawdown | 8.04 | 3.95 | +4.09 |
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
| HYEA.L | HYFC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 0.82 | +0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.28 | +0.27 |
Drawdowns
HYEA.L vs. HYFC.L - Drawdown Comparison
The maximum HYEA.L drawdown since its inception was -22.34%, which is greater than HYFC.L's maximum drawdown of -12.58%. Use the drawdown chart below to compare losses from any high point for HYEA.L and HYFC.L.
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Drawdown Indicators
| HYEA.L | HYFC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.34% | -12.58% | -9.76% |
Max Drawdown (1Y)Largest decline over 1 year | -1.89% | -4.01% | +2.12% |
Max Drawdown (3Y)Largest decline over 3 years | -6.63% | -12.58% | +5.95% |
Max Drawdown (5Y)Largest decline over 5 years | -9.74% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.27% | +3.27% |
Average DrawdownAverage peak-to-trough decline | -2.61% | -4.64% | +2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 1.52% | -0.99% |
Volatility
HYEA.L vs. HYFC.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 Acc (HYFC.L) has a volatility of 1.63%. This indicates that HYEA.L experiences smaller price fluctuations and is considered to be less risky than HYFC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYEA.L | HYFC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 1.63% | -0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 5.91% | -3.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 7.29% | -3.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.44% | 8.51% | -3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 8.51% | -1.58% |
HYEA.L vs. HYFC.L - Expense Ratio Comparison
HYEA.L has a 0.50% expense ratio, which is higher than HYFC.L's 0.45% expense ratio.
Dividends
HYEA.L vs. HYFC.L - Dividend Comparison
Neither HYEA.L nor HYFC.L has paid dividends to shareholders.
Frequently Asked Questions
HYEA.L and HYFC.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.
On fees, HYFC.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYFC.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 HYFC.L tracks FTSE Time-Weighted US Fallen Angel Bond Select Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.50% for HYEA.L and 0.45% for HYFC.L.
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