HYGB.L vs. WING.L
HYGB.L (VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)) and WING.L (iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist)) are both exchange-traded funds - HYGB.L is a Emerging Markets Bonds fund tracking the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index, while WING.L is a High Yield Bonds fund tracking the Bloomberg Global Corporate ex EM Fallen Angels 3% Issuer Capped Index. Both are passively managed. Over the past 5 years, HYGB.L returned 3.29%/yr vs 2.87%/yr for WING.L. At a 0.42 correlation, their price movements are largely independent. HYGB.L charges 0.40%/yr vs 0.50%/yr for WING.L.
Performance
HYGB.L vs. WING.L - Performance Comparison
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Different Trading Currencies
HYGB.L is traded in GBP, while WING.L is traded in USD. To make them comparable, the WING.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 3.73% return, which is significantly higher than WING.L's 1.09% return.
HYGB.L
- 1D
- 0.36%
- 1M
- -0.41%
- 6M
- 2.50%
- YTD
- 3.73%
- 1Y
- 7.76%
- 3Y*
- 8.68%
- 5Y*
- 3.29%
- 10Y*
- —
WING.L
- 1D
- 0.54%
- 1M
- -1.55%
- 6M
- 0.37%
- YTD
- 1.09%
- 1Y
- 5.51%
- 3Y*
- 6.18%
- 5Y*
- 2.87%
- 10Y*
- 5.38%
HYGB.L vs. WING.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) | 3.73% | 1.56% | 13.72% | 1.66% | -2.52% | 0.59% | 1.90% | 10.99% | -23.28% |
WING.L iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) | 1.09% | 4.60% | 4.69% | 7.28% | -4.18% | 3.22% | 14.50% | 11.15% | 4.32% |
Correlation
The correlation between HYGB.L and WING.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.42 |
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Return for Risk
HYGB.L vs. WING.L — Risk / Return Rank
HYGB.L
WING.L
HYGB.L vs. WING.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.L) and iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) (WING.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 | WING.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.15 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 1.78 | +0.56 |
| Martin ratioReturn relative to average drawdown | 5.93 | 4.97 | +0.96 |
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Drawdowns
HYGB.L vs. WING.L - Drawdown Comparison
The maximum HYGB.L drawdown since its inception was -26.72%, which is greater than WING.L's maximum drawdown of -16.98%. Use the drawdown chart below to compare losses from any high point for HYGB.L and WING.L.
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Drawdown Indicators
| HYGB.L | WING.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.72% | -16.98% | -9.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -3.09% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -8.96% | -7.00% | -1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -23.02% | -10.87% | -12.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.98% | — |
Current DrawdownCurrent decline from peak | -1.93% | -2.00% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -14.28% | -2.59% | -11.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.10% | +0.20% |
Volatility
HYGB.L vs. WING.L - Volatility Comparison
The current volatility for VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.L) is 1.48%, while iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) (WING.L) has a volatility of 2.18%. This indicates that HYGB.L experiences smaller price fluctuations and is considered to be less risky than WING.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 | WING.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 2.18% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 4.96% | 5.11% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.52% | 6.29% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.18% | 8.06% | +10.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.40% | 10.16% | +7.24% |
HYGB.L vs. WING.L - Expense Ratio Comparison
HYGB.L has a 0.40% expense ratio, which is lower than WING.L's 0.50% expense ratio.
Dividends
HYGB.L vs. WING.L - Dividend Comparison
HYGB.L has not paid dividends to shareholders, while WING.L's dividend yield for the trailing twelve months is around 5.71%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HYGB.L VanEck Emerging Markets High Yield 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% |
WING.L iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) | 5.71% | 5.67% | 5.86% | 5.20% | 4.43% | 3.92% | 4.25% | 4.56% | 4.98% | 4.44% | 2.11% |
Frequently Asked Questions
HYGB.L and WING.L have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYGB.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYGB.L is cheaper with a 0.40% expense ratio, compared with 0.50% for WING.L.
HYGB.L is categorized as Emerging Markets Bonds, while WING.L is High Yield Bonds. HYGB.L tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index, while WING.L tracks Bloomberg Global Corporate ex EM Fallen Angels 3% Issuer Capped Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for HYGB.L and 0.50% for WING.L.
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