HYEA.L vs. UHYG.L

Last updated Jun 5, 2026

HYEA.L (iShares Global High Yield Corporate Bond UCITS ETF) and UHYG.L (Lyxor ESG USD High Yield (DR) UCITS ETF - Dist) are both High Yield Bonds funds - HYEA.L tracks the ICE BofA Gbl HY Constnd TR USD while UHYG.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 3.39%/yr for UHYG.L. A 0.75 correlation means they provide meaningful diversification when combined. HYEA.L charges 0.50%/yr vs 0.25%/yr for UHYG.L.

Performance

HYEA.L vs. UHYG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Global High Yield Corporate Bond UCITS ETF (HYEA.L) and Lyxor ESG USD High Yield (DR) UCITS ETF - Dist (UHYG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HYEA.L is traded in EUR, while UHYG.L is traded in GBP. To make them comparable, the UHYG.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, HYEA.L achieves a 1.74% return, which is significantly lower than UHYG.L's 2.37% return.

HYEA.L

• 1D: 0.03%
• 1M: 0.88%
• YTD: 1.74%
• 6M: 1.78%
• 1Y: 4.39%
• 3Y*: 6.09%
• 5Y*: 3.95%
• 10Y*: —

UHYG.L

• 1D: 0.07%
• 1M: 1.37%
• YTD: 2.37%
• 6M: -3.74%
• 1Y: -0.56%
• 3Y*: 3.62%
• 5Y*: 3.39%
• 10Y*: —

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

HYEA.L vs. UHYG.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%
UHYG.L Lyxor ESG USD High Yield (DR) UCITS ETF - Dist	2.37%	-9.27%	15.03%	7.88%	-6.75%	11.29%	-3.40%	16.56%	2.18%	-2.53%

Correlation

The correlation between HYEA.L and UHYG.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	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Oct 25, 2017	0.75

The correlation between HYEA.L and UHYG.L shifts across timeframes, from 0.64 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HYEA.L vs. UHYG.L — Risk / Return Rank

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

HYEA.L

HYEA.L Risk / Return Rank: 40
HYEA.L Sharpe Ratio Rank: 36
HYEA.L Sortino Ratio Rank: 36
HYEA.L Omega Ratio Rank: 34
HYEA.L Calmar Ratio Rank: 47
HYEA.L Martin Ratio Rank: 49

UHYG.L

UHYG.L Risk / Return Rank: 11
UHYG.L Sharpe Ratio Rank: 12
UHYG.L Sortino Ratio Rank: 11
UHYG.L Omega Ratio Rank: 12
UHYG.L Calmar Ratio Rank: 11
UHYG.L Martin Ratio Rank: 11

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.

HYEA.L vs. UHYG.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 Lyxor ESG USD High Yield (DR) UCITS ETF - Dist (UHYG.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	UHYG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.28	-0.11	+1.39
Sortino ratio: Return per unit of downside risk	1.86	-0.08	+1.95
Omega ratio: Gain probability vs. loss probability	1.23	0.98	+0.24
Calmar ratio: Return relative to maximum drawdown	2.25	-0.12	+2.37
Martin ratio: Return relative to average drawdown	8.04	-0.23	+8.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYEA.L vs. UHYG.L - Sharpe Ratio Comparison

The current HYEA.L Sharpe Ratio is 1.28, which is higher than the UHYG.L Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of HYEA.L and UHYG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HYEA.L	UHYG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	-0.11	+1.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.38	+0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.35	+0.20

Drawdowns

HYEA.L vs. UHYG.L - Drawdown Comparison

The maximum HYEA.L drawdown since its inception was -22.34%, roughly equal to the maximum UHYG.L drawdown of -21.75%. Use the drawdown chart below to compare losses from any high point for HYEA.L and UHYG.L.

Drawdown Indicators

	HYEA.L	UHYG.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.34%	-21.75%	-0.59%
Max Drawdown (1Y) Largest decline over 1 year	-1.89%	-7.67%	+5.78%
Max Drawdown (3Y) Largest decline over 3 years	-6.63%	-12.67%	+6.04%
Max Drawdown (5Y) Largest decline over 5 years	-9.74%	-12.67%	+2.93%
Current Drawdown Current decline from peak	0.00%	-9.35%	+9.35%
Average Drawdown Average peak-to-trough decline	-2.61%	-5.09%	+2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	4.07%	-3.54%

Volatility

HYEA.L vs. UHYG.L - Volatility Comparison

The current volatility for iShares Global High Yield Corporate Bond UCITS ETF (HYEA.L) is 0.89%, while Lyxor ESG USD High Yield (DR) UCITS ETF - Dist (UHYG.L) has a volatility of 1.03%. This indicates that HYEA.L experiences smaller price fluctuations and is considered to be less risky than UHYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYEA.L	UHYG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	1.03%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	2.38%	7.01%	-4.63%
Volatility (1Y) Calculated over the trailing 1-year period	3.35%	8.10%	-4.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.44%	8.82%	-3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.93%	9.47%	-2.54%

HYEA.L vs. UHYG.L - Expense Ratio Comparison

HYEA.L has a 0.50% expense ratio, which is higher than UHYG.L's 0.25% expense ratio.

Dividends

HYEA.L vs. UHYG.L - Dividend Comparison

Neither HYEA.L nor UHYG.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
UHYG.L Lyxor ESG USD High Yield (DR) UCITS ETF - Dist	0.00%	0.00%	3.44%	6.00%	5.93%	6.98%	6.98%	6.59%	5.42%	4.11%

Frequently Asked Questions

Can I hold both HYEA.L and UHYG.L in my portfolio?

HYEA.L and UHYG.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.

Which ETF is better, HYEA.L or UHYG.L?

On fees, UHYG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYEA.L or UHYG.L?

UHYG.L is cheaper with a 0.25% expense ratio, compared with 0.50% for HYEA.L.

What is the main difference between HYEA.L and UHYG.L?

HYEA.L tracks ICE BofA Gbl HY Constnd TR USD, while UHYG.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.50% for HYEA.L and 0.25% for UHYG.L.