HYFC.L vs. IHYA.L
HYFC.L (Invesco US High Yield Fallen Angels UCITS ETF Acc) and IHYA.L (iShares USD High Yield Corporate Bond UCITS ETF USD (Acc)) are both High Yield Bonds funds - HYFC.L tracks the FTSE Time-Weighted US Fallen Angel Bond Select Index while IHYA.L tracks the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 3 years, HYFC.L returned 7.95%/yr vs 8.29%/yr for IHYA.L. Their correlation of 0.81 suggests significant overlap in exposure. HYFC.L charges 0.45%/yr vs 0.50%/yr for IHYA.L.
Performance
HYFC.L vs. IHYA.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYFC.L achieves a 0.64% return, which is significantly lower than IHYA.L's 1.10% return.
HYFC.L
- 1D
- 0.25%
- 1M
- 0.57%
- YTD
- 0.64%
- 6M
- 0.47%
- 1Y
- 7.82%
- 3Y*
- 7.95%
- 5Y*
- —
- 10Y*
- —
IHYA.L
- 1D
- 0.09%
- 1M
- 0.19%
- YTD
- 1.10%
- 6M
- 1.75%
- 1Y
- 6.94%
- 3Y*
- 8.29%
- 5Y*
- 3.99%
- 10Y*
- —
HYFC.L vs. IHYA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYFC.L Invesco US High Yield Fallen Angels UCITS ETF Acc | 0.64% | 9.62% | 5.17% | 10.23% | -3.05% |
IHYA.L iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) | 1.10% | 9.49% | 6.98% | 10.64% | -3.11% |
Correlation
The correlation between HYFC.L and IHYA.L is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2022 | 0.81 |
The correlation between HYFC.L and IHYA.L shifts across timeframes, from 0.69 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYFC.L vs. IHYA.L — Risk / Return Rank
HYFC.L
IHYA.L
HYFC.L vs. IHYA.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 iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.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 | IHYA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.38 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.31 | 2.45 | -1.14 |
| Martin ratioReturn relative to average drawdown | 4.28 | 12.30 | -8.02 |
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
| HYFC.L | IHYA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 1.93 | -0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.56 | +0.27 |
Drawdowns
HYFC.L vs. IHYA.L - Drawdown Comparison
The maximum HYFC.L drawdown since its inception was -8.42%, smaller than the maximum IHYA.L drawdown of -22.58%. Use the drawdown chart below to compare losses from any high point for HYFC.L and IHYA.L.
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Drawdown Indicators
| HYFC.L | IHYA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.42% | -22.58% | +14.16% |
Max Drawdown (1Y)Largest decline over 1 year | -5.95% | -2.82% | -3.13% |
Max Drawdown (3Y)Largest decline over 3 years | -5.95% | -4.83% | -1.12% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.68% | — |
Current DrawdownCurrent decline from peak | -2.06% | -0.31% | -1.75% |
Average DrawdownAverage peak-to-trough decline | -1.69% | -2.23% | +0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 0.56% | +1.27% |
Volatility
HYFC.L vs. IHYA.L - Volatility Comparison
Invesco US High Yield Fallen Angels UCITS ETF Acc (HYFC.L) has a higher volatility of 1.89% compared to iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.L) at 1.36%. This indicates that HYFC.L's price experiences larger fluctuations and is considered to be riskier than IHYA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYFC.L | IHYA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 1.36% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 4.83% | 2.87% | +1.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.61% | 3.58% | +2.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.90% | 6.81% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.90% | 7.89% | -0.99% |
HYFC.L vs. IHYA.L - Expense Ratio Comparison
HYFC.L has a 0.45% expense ratio, which is lower than IHYA.L's 0.50% expense ratio.
Dividends
HYFC.L vs. IHYA.L - Dividend Comparison
Neither HYFC.L nor IHYA.L has paid dividends to shareholders.
Frequently Asked Questions
HYFC.L and IHYA.L have a correlation of 0.69, 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 IHYA.L.
HYFC.L tracks FTSE Time-Weighted US Fallen Angel Bond Select Index, while IHYA.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.45% for HYFC.L and 0.50% for IHYA.L.
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