HYFA.L vs. HYEA.L
HYFA.L (Invesco US High Yield Fallen Angels UCITS ETF Dist) and HYEA.L (iShares Global High Yield Corporate Bond UCITS ETF) are both High Yield Bonds funds - HYFA.L tracks the FTSE Time-Weighted US Fallen Angel Bond Select Index while HYEA.L tracks the ICE BofA Gbl HY Constnd TR USD. Both are passively managed. Over the past 5 years, HYFA.L returned 2.59%/yr vs 2.99%/yr for HYEA.L. A 0.59 correlation means they provide meaningful diversification when combined. HYFA.L charges 0.45%/yr vs 0.50%/yr for HYEA.L.
Performance
HYFA.L vs. HYEA.L - Performance Comparison
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Different Trading Currencies
HYFA.L is traded in USD, while HYEA.L is traded in EUR. To make them comparable, the HYEA.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with HYFA.L having a 0.62% return and HYEA.L slightly lower at 0.59%.
HYFA.L
- 1D
- 0.21%
- 1M
- 0.39%
- YTD
- 0.62%
- 6M
- 0.45%
- 1Y
- 7.57%
- 3Y*
- 7.90%
- 5Y*
- 2.59%
- 10Y*
- —
HYEA.L
- 1D
- 0.16%
- 1M
- 0.22%
- YTD
- 0.59%
- 6M
- 1.68%
- 1Y
- 6.08%
- 3Y*
- 8.98%
- 5Y*
- 2.99%
- 10Y*
- —
HYFA.L vs. HYEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYFA.L Invesco US High Yield Fallen Angels UCITS ETF Dist | 0.62% | 9.60% | 5.20% | 10.21% | -13.83% | 5.51% | 8.98% | 12.43% | -5.11% | 0.23% |
HYEA.L iShares Global High Yield Corporate Bond UCITS ETF | 0.59% | 15.17% | 2.47% | 12.66% | -12.07% | 0.88% | 6.94% | 11.93% | -3.98% | 0.14% |
Correlation
The correlation between HYFA.L and HYEA.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2017 | 0.59 |
The correlation between HYFA.L and HYEA.L shifts across timeframes, from 0.44 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYFA.L vs. HYEA.L — Risk / Return Rank
HYFA.L
HYEA.L
HYFA.L vs. HYEA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US High Yield Fallen Angels UCITS ETF Dist (HYFA.L) and iShares Global High Yield Corporate Bond UCITS ETF (HYEA.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.
| HYFA.L | HYEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.19 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.26 | +0.15 |
| Martin ratioReturn relative to average drawdown | 6.03 | 4.18 | +1.85 |
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
| HYFA.L | HYEA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 1.07 | +0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.37 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.43 | +0.09 |
Drawdowns
HYFA.L vs. HYEA.L - Drawdown Comparison
The maximum HYFA.L drawdown since its inception was -29.37%, which is greater than HYEA.L's maximum drawdown of -23.34%. Use the drawdown chart below to compare losses from any high point for HYFA.L and HYEA.L.
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Drawdown Indicators
| HYFA.L | HYEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.37% | -23.34% | -6.03% |
Max Drawdown (1Y)Largest decline over 1 year | -5.33% | -4.79% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | -5.05% | -0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -17.97% | -22.62% | +4.65% |
Current DrawdownCurrent decline from peak | -0.73% | -1.36% | +0.63% |
Average DrawdownAverage peak-to-trough decline | -3.98% | -4.18% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 1.45% | -0.20% |
Volatility
HYFA.L vs. HYEA.L - Volatility Comparison
Invesco US High Yield Fallen Angels UCITS ETF Dist (HYFA.L) has a higher volatility of 2.14% compared to iShares Global High Yield Corporate Bond UCITS ETF (HYEA.L) at 1.49%. This indicates that HYFA.L's price experiences larger fluctuations and is considered to be riskier than HYEA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYFA.L | HYEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.14% | 1.49% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 4.55% | 3.98% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.48% | 5.69% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.44% | 8.12% | -0.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.52% | 8.70% | -0.18% |
HYFA.L vs. HYEA.L - Expense Ratio Comparison
HYFA.L has a 0.45% expense ratio, which is lower than HYEA.L's 0.50% expense ratio.
Dividends
HYFA.L vs. HYEA.L - Dividend Comparison
HYFA.L's dividend yield for the trailing twelve months is around 6.57%, while HYEA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
HYFA.L Invesco US High Yield Fallen Angels UCITS ETF Dist | 6.57% | 6.57% | 7.05% | 6.73% | 5.78% | 4.63% | 5.86% | 6.08% | 6.19% | 5.46% | 1.22% |
Frequently Asked Questions
HYFA.L and HYEA.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYFA.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYFA.L is cheaper with a 0.45% expense ratio, compared with 0.50% for HYEA.L.
HYFA.L tracks FTSE Time-Weighted US Fallen Angel Bond Select Index, while HYEA.L tracks ICE BofA Gbl HY Constnd TR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.45% for HYFA.L and 0.50% for HYEA.L.
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