HYGB.L vs. DHYA.L
HYGB.L (VanEck Emerging Markets High Yield Bond UCITS ETF) and DHYA.L (iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc)) are both High Yield Bonds funds - HYGB.L tracks the VanEck Emerging Markets High Yield Bond UCITS ETF while DHYA.L tracks the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 5 years, HYGB.L returned 3.23%/yr vs 3.92%/yr for DHYA.L. At a 0.48 correlation, their price movements are largely independent. HYGB.L charges 0.40%/yr vs 0.25%/yr for DHYA.L.
Performance
HYGB.L vs. DHYA.L - Performance Comparison
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Different Trading Currencies
HYGB.L is traded in GBP, while DHYA.L is traded in USD. To make them comparable, the DHYA.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, HYGB.L achieves a 3.41% return, which is significantly higher than DHYA.L's 1.27% return.
HYGB.L
- 1D
- -0.56%
- 1M
- -0.50%
- 6M
- 2.88%
- YTD
- 3.41%
- 1Y
- 7.65%
- 3Y*
- 8.57%
- 5Y*
- 3.23%
- 10Y*
- —
DHYA.L
- 1D
- -1.04%
- 1M
- -1.17%
- 6M
- 0.76%
- YTD
- 1.27%
- 1Y
- 4.77%
- 3Y*
- 7.02%
- 5Y*
- 3.92%
- 10Y*
- —
HYGB.L vs. DHYA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF | 3.41% | 1.56% | 13.72% | 1.66% | -2.52% | 0.59% | 8.90% |
DHYA.L iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc) | 1.27% | 0.73% | 10.15% | 6.72% | -1.55% | 4.81% | 4.46% |
Correlation
The correlation between HYGB.L and DHYA.L is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since May 4, 2020 | 0.48 |
The correlation between HYGB.L and DHYA.L shifts across timeframes, from 0.47 (5 years) to 0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HYGB.L vs. DHYA.L — Risk / Return Rank
HYGB.L
DHYA.L
HYGB.L vs. DHYA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Emerging Markets High Yield Bond UCITS ETF (HYGB.L) and iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc) (DHYA.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HYGB.L | DHYA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.13 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 1.21 | +1.09 |
| Martin ratioReturn relative to average drawdown | 5.91 | 3.61 | +2.30 |
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Drawdowns
HYGB.L vs. DHYA.L - Drawdown Comparison
The maximum HYGB.L drawdown since its inception was -26.72%, which is greater than DHYA.L's maximum drawdown of -10.45%. Use the drawdown chart below to compare losses from any high point for HYGB.L and DHYA.L.
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Drawdown Indicators
| HYGB.L | DHYA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.72% | -10.45% | -16.27% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -3.93% | +0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -8.96% | -9.50% | +0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -23.02% | -10.45% | -12.57% |
Current DrawdownCurrent decline from peak | -2.23% | -2.66% | +0.43% |
Average DrawdownAverage peak-to-trough decline | -14.29% | -3.52% | -10.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 1.32% | -0.03% |
Volatility
HYGB.L vs. DHYA.L - Volatility Comparison
The current volatility for VanEck Emerging Markets High Yield Bond UCITS ETF (HYGB.L) is 1.95%, while iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc) (DHYA.L) has a volatility of 2.18%. This indicates that HYGB.L experiences smaller price fluctuations and is considered to be less risky than DHYA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYGB.L | DHYA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.95% | 2.18% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 4.98% | 5.18% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.52% | 6.58% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 9.08% | +9.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.41% | 9.72% | +7.69% |
HYGB.L vs. DHYA.L - Expense Ratio Comparison
HYGB.L has a 0.40% expense ratio, which is higher than DHYA.L's 0.25% expense ratio.
Dividends
HYGB.L vs. DHYA.L - Dividend Comparison
Neither HYGB.L nor DHYA.L has paid dividends to shareholders.
Frequently Asked Questions
HYGB.L and DHYA.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DHYA.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DHYA.L is cheaper with a 0.25% expense ratio, compared with 0.40% for HYGB.L.
HYGB.L tracks VanEck Emerging Markets High Yield Bond UCITS ETF, while DHYA.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for HYGB.L and 0.25% for DHYA.L.
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