HYGB.L vs. UHYG.L
HYGB.L (VanEck Emerging Markets High Yield Bond UCITS ETF) and UHYG.L (Lyxor ESG USD High Yield (DR) UCITS ETF - Dist) are both High Yield Bonds funds - HYGB.L tracks the VanEck Emerging Markets High Yield Bond UCITS ETF while UHYG.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 3.89%/yr for UHYG.L. A 0.69 correlation means they provide meaningful diversification when combined. HYGB.L charges 0.40%/yr vs 0.25%/yr for UHYG.L.
Performance
HYGB.L vs. UHYG.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYGB.L achieves a 3.41% return, which is significantly higher than UHYG.L's 1.58% 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*
- —
UHYG.L
- 1D
- -0.56%
- 1M
- -0.38%
- 6M
- 1.25%
- YTD
- 1.58%
- 1Y
- 5.37%
- 3Y*
- 7.19%
- 5Y*
- 3.89%
- 10Y*
- 1.61%
HYGB.L vs. UHYG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF | 3.41% | 1.56% | 13.72% | 1.66% | -2.52% | 0.59% | 1.90% | 10.99% | -23.28% |
UHYG.L Lyxor ESG USD High Yield (DR) UCITS ETF - Dist | 1.58% | 1.29% | 9.76% | 5.64% | -1.69% | 4.49% | 2.15% | 9.59% | 8.23% |
Correlation
The correlation between HYGB.L and UHYG.L is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.69 |
The correlation between HYGB.L and UHYG.L shifts across timeframes, from 0.68 (5 years) to 0.83 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HYGB.L vs. UHYG.L — Risk / Return Rank
HYGB.L
UHYG.L
HYGB.L vs. UHYG.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 Lyxor ESG USD High Yield (DR) UCITS ETF - Dist (UHYG.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 | UHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.17 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 1.50 | +0.81 |
| Martin ratioReturn relative to average drawdown | 5.91 | 4.35 | +1.56 |
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Drawdowns
HYGB.L vs. UHYG.L - Drawdown Comparison
The maximum HYGB.L drawdown since its inception was -26.72%, roughly equal to the maximum UHYG.L drawdown of -25.48%. Use the drawdown chart below to compare losses from any high point for HYGB.L and UHYG.L.
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Drawdown Indicators
| HYGB.L | UHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.72% | -25.48% | -1.24% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -3.57% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -8.96% | -9.52% | +0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -23.02% | -10.49% | -12.53% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.48% | — |
Current DrawdownCurrent decline from peak | -2.23% | -2.27% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -14.29% | -8.61% | -5.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 1.23% | +0.06% |
Volatility
HYGB.L vs. UHYG.L - Volatility Comparison
VanEck Emerging Markets High Yield Bond UCITS ETF (HYGB.L) has a higher volatility of 1.95% compared to Lyxor ESG USD High Yield (DR) UCITS ETF - Dist (UHYG.L) at 1.75%. This indicates that HYGB.L's price experiences larger fluctuations and is considered to be riskier than UHYG.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 | UHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.95% | 1.75% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 4.98% | 4.16% | +0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.52% | 5.74% | +0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 8.05% | +10.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.41% | 10.63% | +6.78% |
HYGB.L vs. UHYG.L - Expense Ratio Comparison
HYGB.L has a 0.40% expense ratio, which is higher than UHYG.L's 0.25% expense ratio.
Dividends
HYGB.L vs. UHYG.L - Dividend Comparison
HYGB.L has not paid dividends to shareholders, while UHYG.L's dividend yield for the trailing twelve months is around 5.75%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UHYG.L Lyxor ESG USD High Yield (DR) UCITS ETF - Dist | 5.75% | 5.84% | 3.44% | 6.01% | 5.93% | 6.98% | 6.97% | 6.59% | 5.42% | 4.11% |
Frequently Asked Questions
HYGB.L and UHYG.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UHYG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UHYG.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 UHYG.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: VanEck and Amundi. Their fees differ too: 0.40% for HYGB.L and 0.25% for UHYG.L.
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