HYGW vs. SEGA.L

Last updated Apr 3, 2026

Compare and contrast key facts about iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and iShares Core Euro Government Bond UCITS ETF (Dist) (SEGA.L).

HYGW and SEGA.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYGW is a passively managed fund by iShares that tracks the performance of the Cboe HYG BuyWrite Index. It was launched on Aug 18, 2022. SEGA.L is a passively managed fund by iShares that tracks the performance of the Bloomberg Euro Agg Govt TR EUR. It was launched on Apr 17, 2009. Both HYGW and SEGA.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HYGW vs. SEGA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and iShares Core Euro Government Bond UCITS ETF (Dist) (SEGA.L). The values are adjusted to include any dividend payments, if applicable.

HYGW vs. SEGA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	0.37%	6.19%	6.99%	7.31%	-0.12%
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist)	-3.47%	13.87%	-4.56%	10.29%	-0.05%

Different Trading Currencies

HYGW is traded in USD, while SEGA.L is traded in GBP. To make them comparable, the SEGA.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HYGW achieves a 0.37% return, which is significantly higher than SEGA.L's -3.47% return.

HYGW

• 1D: 0.04%
• 1M: -0.16%
• YTD: 0.37%
• 6M: 2.03%
• 1Y: 5.42%
• 3Y*: 5.63%
• 5Y*: —
• 10Y*: —

SEGA.L

• 1D: -0.37%
• 1M: -2.12%
• YTD: -3.47%
• 6M: -2.97%
• 1Y: 6.18%
• 3Y*: 3.47%
• 5Y*: -3.21%
• 10Y*: -0.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HYGW vs. SEGA.L - Expense Ratio Comparison

HYGW has a 0.69% expense ratio, which is higher than SEGA.L's 0.09% expense ratio.

HYGW

iShares High Yield Corporate Bond Buywrite Strategy ETF

SEGA.L

iShares Core Euro Government Bond UCITS ETF (Dist)

Return for Risk

HYGW vs. SEGA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYGW

HYGW Risk / Return Rank: 68
HYGW Sharpe Ratio Rank: 68
HYGW Sortino Ratio Rank: 66
HYGW Omega Ratio Rank: 77
HYGW Calmar Ratio Rank: 57
HYGW Martin Ratio Rank: 74

SEGA.L

SEGA.L Risk / Return Rank: 27
SEGA.L Sharpe Ratio Rank: 34
SEGA.L Sortino Ratio Rank: 33
SEGA.L Omega Ratio Rank: 28
SEGA.L Calmar Ratio Rank: 22
SEGA.L Martin Ratio Rank: 20

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HYGW vs. SEGA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and iShares Core Euro Government Bond UCITS ETF (Dist) (SEGA.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.

	HYGW	SEGA.L	Difference
Sharpe ratio Return per unit of total volatility	1.28	0.65	+0.62
Sortino ratio Return per unit of downside risk	1.76	1.00	+0.76
Omega ratio Gain probability vs. loss probability	1.31	1.12	+0.19
Calmar ratio Return relative to maximum drawdown	1.70	0.65	+1.05
Martin ratio Return relative to average drawdown	8.93	2.07	+6.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYGW vs. SEGA.L - Sharpe Ratio Comparison

The current HYGW Sharpe Ratio is 1.28, which is higher than the SEGA.L Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of HYGW and SEGA.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HYGW	SEGA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	0.65	+0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.31	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.04	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	0.01	+1.20

Correlation

The correlation between HYGW and SEGA.L is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HYGW vs. SEGA.L - Dividend Comparison

HYGW's dividend yield for the trailing twelve months is around 12.82%, more than SEGA.L's 1.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	12.82%	12.53%	12.30%	15.98%	8.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist)	1.19%	2.25%	1.82%	0.97%	0.26%	0.25%	0.45%	0.68%	0.65%	0.69%	0.86%	0.60%

Drawdowns

HYGW vs. SEGA.L - Drawdown Comparison

The maximum HYGW drawdown since its inception was -5.49%, smaller than the maximum SEGA.L drawdown of -38.19%. Use the drawdown chart below to compare losses from any high point for HYGW and SEGA.L.

Drawdown Indicators

	HYGW	SEGA.L	Difference
Max Drawdown Largest peak-to-trough decline	-5.49%	-26.75%	+21.26%
Max Drawdown (1Y) Largest decline over 1 year	-2.42%	-5.13%	+2.71%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.75%	—
Current Drawdown Current decline from peak	-0.70%	-19.66%	+18.96%
Average Drawdown Average peak-to-trough decline	-0.63%	-10.29%	+9.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	1.98%	-1.37%

Volatility

HYGW vs. SEGA.L - Volatility Comparison

The current volatility for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) is 1.66%, while iShares Core Euro Government Bond UCITS ETF (Dist) (SEGA.L) has a volatility of 3.43%. This indicates that HYGW experiences smaller price fluctuations and is considered to be less risky than SEGA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYGW	SEGA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	3.43%	-1.77%
Volatility (6M) Calculated over the trailing 6-month period	2.38%	6.05%	-3.67%
Volatility (1Y) Calculated over the trailing 1-year period	4.25%	9.41%	-5.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.76%	10.41%	-5.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.76%	9.59%	-4.83%