HYHG vs. GLTL.L

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares High Yield-Interest Rate Hedged (HYHG) and SPDR Bloomberg 15+ Year Gilt UCITS ETF (GLTL.L).

HYHG and GLTL.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYHG is a passively managed fund by ProShares that tracks the performance of the Citi High Yield (Treasury Rate-Hedged) Index. It was launched on May 21, 2013. GLTL.L is a passively managed fund by State Street that tracks the performance of the FTSE Act UK Cnvt Gilts All Stocks TR GBP. It was launched on May 17, 2012. Both HYHG and GLTL.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

HYHG vs. GLTL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares High Yield-Interest Rate Hedged (HYHG) and SPDR Bloomberg 15+ Year Gilt UCITS ETF (GLTL.L). The values are adjusted to include any dividend payments, if applicable.

HYHG vs. GLTL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYHG ProShares High Yield-Interest Rate Hedged	0.76%	5.31%	11.41%	14.69%	-1.71%	5.75%	0.16%	12.02%	-1.95%	3.76%
GLTL.L SPDR Bloomberg 15+ Year Gilt UCITS ETF	-3.95%	10.95%	-186.92%	6.60%	-47.01%	-7.42%	17.08%	16.03%	-5.47%	13.16%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, HYHG achieves a 0.76% return, which is significantly higher than GLTL.L's -3.95% return.

HYHG

• 1D: 0.75%
• 1M: 0.37%
• YTD: 0.76%
• 6M: 2.21%
• 1Y: 7.49%
• 3Y*: 9.53%
• 5Y*: 6.54%
• 10Y*: 6.25%

GLTL.L

• 1D: 1.49%
• 1M: -6.31%
• YTD: -3.95%
• 6M: 1.19%
• 1Y: 3.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYHG vs. GLTL.L - Expense Ratio Comparison

HYHG has a 0.50% expense ratio, which is higher than GLTL.L's 0.15% expense ratio.

HYHG

ProShares High Yield-Interest Rate Hedged

GLTL.L

SPDR Bloomberg 15+ Year Gilt UCITS ETF

Return for Risk

HYHG vs. GLTL.L — Risk / Return Rank

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

HYHG

HYHG Risk / Return Rank: 57
HYHG Sharpe Ratio Rank: 49
HYHG Sortino Ratio Rank: 50
HYHG Omega Ratio Rank: 49
HYHG Calmar Ratio Rank: 64
HYHG Martin Ratio Rank: 75

GLTL.L

GLTL.L Risk / Return Rank: 13
GLTL.L Sharpe Ratio Rank: 13
GLTL.L Sortino Ratio Rank: 11
GLTL.L Omega Ratio Rank: 12
GLTL.L Calmar Ratio Rank: 14
GLTL.L Martin Ratio Rank: 13

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.

HYHG vs. GLTL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) and SPDR Bloomberg 15+ Year Gilt UCITS ETF (GLTL.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.

	HYHG	GLTL.L	Difference
Sharpe ratio Return per unit of total volatility	0.93	0.22	+0.71
Sortino ratio Return per unit of downside risk	1.40	0.41	+0.99
Omega ratio Gain probability vs. loss probability	1.20	1.05	+0.14
Calmar ratio Return relative to maximum drawdown	1.74	0.33	+1.41
Martin ratio Return relative to average drawdown	8.32	0.80	+7.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYHG vs. GLTL.L - Sharpe Ratio Comparison

The current HYHG Sharpe Ratio is 0.93, which is higher than the GLTL.L Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of HYHG and GLTL.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

	HYHG	GLTL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	0.22	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	—	—

Correlation

The correlation between HYHG and GLTL.L is -0.09. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

HYHG vs. GLTL.L - Dividend Comparison

HYHG's dividend yield for the trailing twelve months is around 6.92%, more than GLTL.L's 5.09% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYHG ProShares High Yield-Interest Rate Hedged	6.92%	6.97%	6.57%	6.07%	5.58%	4.54%	5.21%	6.06%	6.45%	5.57%	5.37%	6.37%
GLTL.L SPDR Bloomberg 15+ Year Gilt UCITS ETF	5.09%	4.77%	227.97%	2.97%	1.63%	0.87%	1.01%	1.43%	1.55%	1.86%	1.99%	2.51%

Drawdowns

HYHG vs. GLTL.L - Drawdown Comparison

The maximum HYHG drawdown since its inception was -25.71%, smaller than the maximum GLTL.L drawdown of -153.58%. Use the drawdown chart below to compare losses from any high point for HYHG and GLTL.L.

Drawdown Indicators

	HYHG	GLTL.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.71%	-153.21%	+127.50%
Max Drawdown (1Y) Largest decline over 1 year	-4.25%	-8.12%	+3.87%
Max Drawdown (5Y) Largest decline over 5 years	-9.21%	-155.81%	+146.60%
Max Drawdown (10Y) Largest decline over 10 years	-25.71%	-153.21%	+127.50%
Current Drawdown Current decline from peak	-0.57%	-147.68%	+147.11%
Average Drawdown Average peak-to-trough decline	-3.08%	-31.66%	+28.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	3.31%	-2.42%

Volatility

HYHG vs. GLTL.L - Volatility Comparison

The current volatility for ProShares High Yield-Interest Rate Hedged (HYHG) is 2.37%, while SPDR Bloomberg 15+ Year Gilt UCITS ETF (GLTL.L) has a volatility of 6.43%. This indicates that HYHG experiences smaller price fluctuations and is considered to be less risky than GLTL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYHG	GLTL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	6.43%	-4.06%
Volatility (6M) Calculated over the trailing 6-month period	4.49%	10.35%	-5.86%
Volatility (1Y) Calculated over the trailing 1-year period	8.09%	16.27%	-8.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.12%	91.21%	-83.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.20%	65.39%	-56.19%