HYGU.L vs. WING.L
HYGU.L (iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc)) and WING.L (iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist)) are both exchange-traded funds - HYGU.L is a European High Yield Bonds fund tracking the Markit iBoxx Euro Liquid High Yield Index (EUR), 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, HYGU.L returned 4.56%/yr vs 2.41%/yr for WING.L. A 0.64 correlation means they provide meaningful diversification when combined. HYGU.L charges 0.55%/yr vs 0.50%/yr for WING.L.
Performance
HYGU.L vs. WING.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYGU.L achieves a 2.07% return, which is significantly higher than WING.L's 0.95% return.
HYGU.L
- 1D
- -0.13%
- 1M
- 0.14%
- 6M
- 2.07%
- YTD
- 2.07%
- 1Y
- 5.11%
- 3Y*
- 8.01%
- 5Y*
- 4.56%
- 10Y*
- —
WING.L
- 1D
- 0.37%
- 1M
- -0.32%
- 6M
- 0.95%
- YTD
- 0.95%
- 1Y
- 5.80%
- 3Y*
- 7.30%
- 5Y*
- 2.41%
- 10Y*
- 5.66%
HYGU.L vs. WING.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYGU.L iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) | 2.07% | 7.24% | 7.29% | 13.55% | -7.14% | 3.72% | 2.16% | 12.83% | -0.86% | 0.71% |
WING.L iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) | 0.95% | 12.63% | 2.89% | 12.92% | -14.36% | 2.26% | 17.97% | 15.54% | -5.11% | 2.08% |
Correlation
The correlation between HYGU.L and WING.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | 0.64 |
The correlation between HYGU.L and WING.L has been stable across timeframes, ranging from 0.58 to 0.68 - a consistent structural relationship.
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Return for Risk
HYGU.L vs. WING.L — Risk / Return Rank
HYGU.L
WING.L
HYGU.L vs. WING.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) (HYGU.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.
| HYGU.L | WING.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.22 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 1.33 | +0.63 |
| Martin ratioReturn relative to average drawdown | 8.42 | 5.23 | +3.19 |
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Drawdowns
HYGU.L vs. WING.L - Drawdown Comparison
The maximum HYGU.L drawdown since its inception was -25.03%, roughly equal to the maximum WING.L drawdown of -25.18%. Use the drawdown chart below to compare losses from any high point for HYGU.L and WING.L.
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Drawdown Indicators
| HYGU.L | WING.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.03% | -25.18% | +0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.60% | -4.36% | +1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -3.62% | -5.02% | +1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -13.61% | -21.62% | +8.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.18% | — |
Current DrawdownCurrent decline from peak | -0.27% | -0.50% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -2.06% | -3.97% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 1.11% | -0.50% |
Volatility
HYGU.L vs. WING.L - Volatility Comparison
The current volatility for iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) (HYGU.L) is 0.62%, while iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) (WING.L) has a volatility of 1.58%. This indicates that HYGU.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
| HYGU.L | WING.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 1.58% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 3.86% | -1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.34% | 4.84% | -1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 7.47% | -2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.10% | 9.09% | -1.99% |
HYGU.L vs. WING.L - Expense Ratio Comparison
HYGU.L has a 0.55% expense ratio, which is higher than WING.L's 0.50% expense ratio.
Dividends
HYGU.L vs. WING.L - Dividend Comparison
HYGU.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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HYGU.L iShares € High Yield Corp Bond UCITS ETF USD Hedged (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
HYGU.L and WING.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WING.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WING.L is cheaper with a 0.50% expense ratio, compared with 0.55% for HYGU.L.
HYGU.L is categorized as European High Yield Bonds, while WING.L is High Yield Bonds. HYGU.L tracks Markit iBoxx Euro Liquid High Yield Index (EUR), while WING.L tracks Bloomberg Global Corporate ex EM Fallen Angels 3% Issuer Capped Index. Their fees differ too: 0.55% for HYGU.L and 0.50% for WING.L.
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