HYFC.L vs. FWRG.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco US High Yield Fallen Angels UCITS ETF Acc (HYFC.L) and Invesco FTSE All-World UCITS ETF Acc (FWRG.L).

HYFC.L and FWRG.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYFC.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. FWRG.L is a passively managed fund by Invesco that tracks the performance of the FTSE All-World Index. It was launched on Feb 20, 2024. Both HYFC.L and FWRG.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

HYFC.L vs. FWRG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco US High Yield Fallen Angels UCITS ETF Acc (HYFC.L) and Invesco FTSE All-World UCITS ETF Acc (FWRG.L). The values are adjusted to include any dividend payments, if applicable.

HYFC.L vs. FWRG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HYFC.L Invesco US High Yield Fallen Angels UCITS ETF Acc	-1.65%	9.62%	5.17%	7.57%
FWRG.L Invesco FTSE All-World UCITS ETF Acc	-0.40%	13.84%	20.11%	8.08%

Returns By Period

In the year-to-date period, HYFC.L achieves a -1.65% return, which is significantly lower than FWRG.L's -0.40% return.

HYFC.L

• 1D: 1.20%
• 1M: -1.81%
• YTD: -1.65%
• 6M: -0.60%
• 1Y: 5.63%
• 3Y*: 7.05%
• 5Y*: —
• 10Y*: —

FWRG.L

• 1D: 2.14%
• 1M: -3.63%
• YTD: -0.40%
• 6M: 3.32%
• 1Y: 18.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYFC.L vs. FWRG.L - Expense Ratio Comparison

HYFC.L has a 0.45% expense ratio, which is higher than FWRG.L's 0.15% expense ratio.

HYFC.L

Invesco US High Yield Fallen Angels UCITS ETF Acc

FWRG.L

Invesco FTSE All-World UCITS ETF Acc

Return for Risk

HYFC.L vs. FWRG.L — Risk / Return Rank

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

HYFC.L

HYFC.L Risk / Return Rank: 39
HYFC.L Sharpe Ratio Rank: 45
HYFC.L Sortino Ratio Rank: 41
HYFC.L Omega Ratio Rank: 45
HYFC.L Calmar Ratio Rank: 31
HYFC.L Martin Ratio Rank: 34

FWRG.L

FWRG.L Risk / Return Rank: 76
FWRG.L Sharpe Ratio Rank: 72
FWRG.L Sortino Ratio Rank: 71
FWRG.L Omega Ratio Rank: 71
FWRG.L Calmar Ratio Rank: 84
FWRG.L Martin Ratio Rank: 83

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.

HYFC.L vs. FWRG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US High Yield Fallen Angels UCITS ETF Acc (HYFC.L) and Invesco FTSE All-World UCITS ETF Acc (FWRG.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.

	HYFC.L	FWRG.L	Difference
Sharpe ratio Return per unit of total volatility	0.89	1.32	-0.43
Sortino ratio Return per unit of downside risk	1.24	1.84	-0.60
Omega ratio Gain probability vs. loss probability	1.19	1.27	-0.08
Calmar ratio Return relative to maximum drawdown	0.93	2.59	-1.65
Martin ratio Return relative to average drawdown	3.62	9.85	-6.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYFC.L vs. FWRG.L - Sharpe Ratio Comparison

The current HYFC.L Sharpe Ratio is 0.89, which is lower than the FWRG.L Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of HYFC.L and FWRG.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.

Sharpe Ratios by Period

	HYFC.L	FWRG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	1.32	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	1.20	-0.42

Correlation

The correlation between HYFC.L and FWRG.L is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HYFC.L vs. FWRG.L - Dividend Comparison

Neither HYFC.L nor FWRG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

HYFC.L vs. FWRG.L - Drawdown Comparison

The maximum HYFC.L drawdown since its inception was -8.42%, smaller than the maximum FWRG.L drawdown of -18.88%. Use the drawdown chart below to compare losses from any high point for HYFC.L and FWRG.L.

Drawdown Indicators

	HYFC.L	FWRG.L	Difference
Max Drawdown Largest peak-to-trough decline	-8.42%	-18.88%	+10.46%
Max Drawdown (1Y) Largest decline over 1 year	-5.95%	-10.04%	+4.09%
Current Drawdown Current decline from peak	-4.28%	-4.18%	-0.10%
Average Drawdown Average peak-to-trough decline	-1.64%	-2.37%	+0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	1.87%	-0.34%

Volatility

HYFC.L vs. FWRG.L - Volatility Comparison

The current volatility for Invesco US High Yield Fallen Angels UCITS ETF Acc (HYFC.L) is 2.23%, while Invesco FTSE All-World UCITS ETF Acc (FWRG.L) has a volatility of 4.54%. This indicates that HYFC.L experiences smaller price fluctuations and is considered to be less risky than FWRG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYFC.L	FWRG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.23%	4.54%	-2.31%
Volatility (6M) Calculated over the trailing 6-month period	4.52%	8.25%	-3.73%
Volatility (1Y) Calculated over the trailing 1-year period	6.30%	13.92%	-7.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.92%	12.48%	-5.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.92%	12.48%	-5.56%