HYGU.L vs. XHYG.L
HYGU.L (iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc)) and XHYG.L (Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D) are both European High Yield Bonds funds - HYGU.L tracks the Markit iBoxx Euro Liquid High Yield Index (EUR) while XHYG.L tracks the Bloomberg Pan Euro HY Euro TR EUR. Both are passively managed. Over the past 5 years, HYGU.L returned 4.56%/yr vs 2.12%/yr for XHYG.L. A 0.54 correlation means they provide meaningful diversification when combined. HYGU.L charges 0.55%/yr vs 0.20%/yr for XHYG.L.
Performance
HYGU.L vs. XHYG.L - Performance Comparison
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Different Trading Currencies
HYGU.L is traded in USD, while XHYG.L is traded in EUR. To make them comparable, the XHYG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HYGU.L achieves a 2.07% return, which is significantly higher than XHYG.L's -1.39% 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*
- —
XHYG.L
- 1D
- -0.17%
- 1M
- -0.55%
- 6M
- -0.20%
- YTD
- -1.39%
- 1Y
- 1.82%
- 3Y*
- 6.88%
- 5Y*
- 2.12%
- 10Y*
- —
HYGU.L vs. XHYG.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% |
XHYG.L Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D | -1.39% | 18.86% | -0.57% | 14.97% | -14.67% | -3.86% | 10.59% | 7.57% | -8.11% | 2.50% |
Correlation
The correlation between HYGU.L and XHYG.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | 0.54 |
The correlation between HYGU.L and XHYG.L shifts across timeframes, from 0.44 (3 years) to 0.57 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYGU.L vs. XHYG.L — Risk / Return Rank
HYGU.L
XHYG.L
HYGU.L vs. XHYG.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 Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D (XHYG.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 | XHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.05 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 0.24 | +1.71 |
| Martin ratioReturn relative to average drawdown | 8.42 | 0.63 | +7.78 |
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Drawdowns
HYGU.L vs. XHYG.L - Drawdown Comparison
The maximum HYGU.L drawdown since its inception was -25.03%, smaller than the maximum XHYG.L drawdown of -31.39%. Use the drawdown chart below to compare losses from any high point for HYGU.L and XHYG.L.
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Drawdown Indicators
| HYGU.L | XHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.03% | -31.39% | +6.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.60% | -7.51% | +4.91% |
Max Drawdown (3Y)Largest decline over 3 years | -3.62% | -7.54% | +3.92% |
Max Drawdown (5Y)Largest decline over 5 years | -13.61% | -30.08% | +16.47% |
Current DrawdownCurrent decline from peak | -0.27% | -4.23% | +3.96% |
Average DrawdownAverage peak-to-trough decline | -2.06% | -8.24% | +6.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 2.87% | -2.26% |
Volatility
HYGU.L vs. XHYG.L - Volatility Comparison
The current volatility for iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) (HYGU.L) is 0.62%, while Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D (XHYG.L) has a volatility of 1.49%. This indicates that HYGU.L experiences smaller price fluctuations and is considered to be less risky than XHYG.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 | XHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 1.49% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 6.02% | -3.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.34% | 7.57% | -4.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 10.48% | -5.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.10% | 10.72% | -3.62% |
HYGU.L vs. XHYG.L - Expense Ratio Comparison
HYGU.L has a 0.55% expense ratio, which is higher than XHYG.L's 0.20% expense ratio.
Dividends
HYGU.L vs. XHYG.L - Dividend Comparison
HYGU.L has not paid dividends to shareholders, while XHYG.L's dividend yield for the trailing twelve months is around 4.92%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
XHYG.L Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D | 4.92% | 4.75% | 5.49% | 3.95% | 3.70% | 5.70% | 2.27% | 3.55% | 5.11% |
Frequently Asked Questions
HYGU.L and XHYG.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XHYG.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XHYG.L is cheaper with a 0.20% expense ratio, compared with 0.55% for HYGU.L.
HYGU.L tracks Markit iBoxx Euro Liquid High Yield Index (EUR), while XHYG.L tracks Bloomberg Pan Euro HY Euro TR EUR. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.55% for HYGU.L and 0.20% for XHYG.L.
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