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HYFA.L vs. SDHA.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

HYFA.L vs. SDHA.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco US High Yield Fallen Angels UCITS ETF Dist (HYFA.L) and iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) (SDHA.L).

HYFA.L and SDHA.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYFA.L is a passively managed fund by Invesco that tracks the performance of the FTSE Time-Weighted US Fallen Angel Bond Select Index. It was launched on Jul 27, 2022. SDHA.L is a passively managed fund by iShares that tracks the performance of the Bloomberg US Corporate High Yield TR USD. It was launched on Jun 29, 2018. Both HYFA.L and SDHA.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HYFA.L vs. SDHA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco US High Yield Fallen Angels UCITS ETF Dist (HYFA.L) and iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) (SDHA.L). The values are adjusted to include any dividend payments, if applicable.

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HYFA.L vs. SDHA.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
HYFA.L
Invesco US High Yield Fallen Angels UCITS ETF Dist		-1.96%9.60%5.20%10.21%-13.83%5.51%8.98%12.43%-4.98%
SDHA.L
iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc)		-0.13%8.87%6.63%8.90%-3.48%3.62%3.98%9.51%-0.74%

Returns By Period

In the year-to-date period, HYFA.L achieves a -1.96% return, which is significantly lower than SDHA.L's -0.13% return.

HYFA.L

1D
0.96%
1M
-2.19%
YTD
-1.96%
6M
-1.05%
1Y
5.35%
3Y*
6.92%
5Y*
2.41%
10Y*
—

SDHA.L

1D
0.31%
1M
-0.42%
YTD
-0.13%
6M
1.32%
1Y
6.88%
3Y*
7.19%
5Y*
4.51%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Invesco US High Yield Fallen Angels UCITS ETF Dist

iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc)

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Often compared with SDHA.L:
SDHA.L vs. ERNA.LSDHA.L vs. SDHG.LSDHA.L vs. LQDWSDHA.L vs. IWDA.LSDHA.L vs. VOOSDHA.L vs. SPYSDHA.L vs. ISAC.L

HYFA.L vs. SDHA.L - Expense Ratio Comparison

Both HYFA.L and SDHA.L have an expense ratio of 0.45%.

HYFA.L
Invesco US High Yield Fallen Angels UCITS ETF Dist
SDHA.L
iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc)

Return for Risk

HYFA.L vs. SDHA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYFA.L
HYFA.L Risk / Return Rank: 3838
Overall Rank
HYFA.L Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
HYFA.L Sortino Ratio Rank: 3838
Sortino Ratio Rank
HYFA.L Omega Ratio Rank: 4040
Omega Ratio Rank
HYFA.L Calmar Ratio Rank: 3232
Calmar Ratio Rank
HYFA.L Martin Ratio Rank: 3939
Martin Ratio Rank
SDHA.L
SDHA.L Risk / Return Rank: 7979
Overall Rank
SDHA.L Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SDHA.L Sortino Ratio Rank: 7373
Sortino Ratio Rank
SDHA.L Omega Ratio Rank: 8383
Omega Ratio Rank
SDHA.L Calmar Ratio Rank: 7272
Calmar Ratio Rank
SDHA.L Martin Ratio Rank: 9090
Martin Ratio Rank
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.

HYFA.L vs. SDHA.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 USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) (SDHA.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.LSDHA.LDifference

Sharpe ratio

Return per unit of total volatility

0.83

1.44

-0.62

Sortino ratio

Return per unit of downside risk

1.19

1.93

-0.74

Omega ratio

Gain probability vs. loss probability

1.17

1.34

-0.17

Calmar ratio

Return relative to maximum drawdown

0.98

2.05

-1.07

Martin ratio

Return relative to average drawdown

4.26

12.86

-8.60

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYFA.L vs. SDHA.L - Sharpe Ratio Comparison

The current HYFA.L Sharpe Ratio is 0.83, which is lower than the SDHA.L Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of HYFA.L and SDHA.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

HYFA.LSDHA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.83

1.44

-0.62

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.33

0.83

-0.50

Sharpe Ratio (All Time)

Calculated using the full available price history

0.49

0.73

-0.24

Correlation

The correlation between HYFA.L and SDHA.L is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HYFA.L vs. SDHA.L - Dividend Comparison

HYFA.L's dividend yield for the trailing twelve months is around 6.75%, while SDHA.L has not paid dividends to shareholders.

TTM2025202420232022202120202019201820172016
HYFA.L
Invesco US High Yield Fallen Angels UCITS ETF Dist		6.75%6.57%7.05%6.73%5.78%4.63%5.86%6.08%6.19%5.46%1.22%
SDHA.L
iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

HYFA.L vs. SDHA.L - Drawdown Comparison

The maximum HYFA.L drawdown since its inception was -29.37%, which is greater than SDHA.L's maximum drawdown of -17.77%. Use the drawdown chart below to compare losses from any high point for HYFA.L and SDHA.L.

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Drawdown Indicators

HYFA.LSDHA.LDifference

Max Drawdown

Largest peak-to-trough decline

-29.37%

-17.77%

-11.60%

Max Drawdown (1Y)

Largest decline over 1 year

-5.33%

-4.19%

-1.14%

Max Drawdown (5Y)

Largest decline over 5 years

-17.97%

-8.30%

-9.67%

Current Drawdown

Current decline from peak

-3.28%

-0.83%

-2.45%

Average Drawdown

Average peak-to-trough decline

-4.03%

-1.27%

-2.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.22%

0.53%

+0.69%

Volatility

HYFA.L vs. SDHA.L - Volatility Comparison

Invesco US High Yield Fallen Angels UCITS ETF Dist (HYFA.L) has a higher volatility of 3.29% compared to iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) (SDHA.L) at 1.55%. This indicates that HYFA.L's price experiences larger fluctuations and is considered to be riskier than SDHA.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.LSDHA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.29%

1.55%

+1.74%

Volatility (6M)

Calculated over the trailing 6-month period

4.15%

2.40%

+1.75%

Volatility (1Y)

Calculated over the trailing 1-year period

6.44%

4.77%

+1.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.35%

5.45%

+1.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.55%

6.43%

+2.12%