HYLA.L vs. HYUS.L
HYLA.L (iShares Global High Yield Corp Bond UCITS ETF) and HYUS.L (iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)) are both High Yield Bonds funds from iShares - HYLA.L tracks the iShares Global High Yield Corp Bond UCITS ETF while HYUS.L tracks the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 3 years, HYLA.L returned 7.76%/yr vs 8.37%/yr for HYUS.L. A 0.66 correlation means they provide meaningful diversification when combined. HYLA.L charges 0.50%/yr vs 0.20%/yr for HYUS.L.
Performance
HYLA.L vs. HYUS.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYLA.L achieves a 0.70% return, which is significantly lower than HYUS.L's 1.44% return.
HYLA.L
- 1D
- 0.12%
- 1M
- -0.32%
- 6M
- 0.56%
- YTD
- 0.70%
- 1Y
- 4.54%
- 3Y*
- 7.76%
- 5Y*
- 3.15%
- 10Y*
- —
HYUS.L
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.44%
- YTD
- 1.44%
- 1Y
- 5.89%
- 3Y*
- 8.37%
- 5Y*
- —
- 10Y*
- —
HYLA.L vs. HYUS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYLA.L iShares Global High Yield Corp Bond UCITS ETF | 0.70% | 14.45% | 2.59% | 13.39% | -6.80% |
HYUS.L iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | 1.44% | 8.55% | 8.46% | 12.87% | -6.58% |
Correlation
The correlation between HYLA.L and HYUS.L is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.66 |
The correlation between HYLA.L and HYUS.L shifts across timeframes, from 0.51 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYLA.L vs. HYUS.L — Risk / Return Rank
HYLA.L
HYUS.L
HYLA.L vs. HYUS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corp Bond UCITS ETF (HYLA.L) and iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (HYUS.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.
| HYLA.L | HYUS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.26 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 2.79 | -1.92 |
| Martin ratioReturn relative to average drawdown | 2.95 | 10.82 | -7.88 |
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Drawdowns
HYLA.L vs. HYUS.L - Drawdown Comparison
The maximum HYLA.L drawdown since its inception was -24.42%, which is greater than HYUS.L's maximum drawdown of -11.00%. Use the drawdown chart below to compare losses from any high point for HYLA.L and HYUS.L.
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Drawdown Indicators
| HYLA.L | HYUS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.42% | -11.00% | -13.42% |
Max Drawdown (1Y)Largest decline over 1 year | -4.62% | -2.10% | -2.52% |
Max Drawdown (3Y)Largest decline over 3 years | -5.65% | -5.23% | -0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -22.93% | — | — |
Current DrawdownCurrent decline from peak | -1.04% | -0.63% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -4.11% | -1.84% | -2.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 0.54% | +0.84% |
Volatility
HYLA.L vs. HYUS.L - Volatility Comparison
iShares Global High Yield Corp Bond UCITS ETF (HYLA.L) has a higher volatility of 1.39% compared to iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (HYUS.L) at 1.17%. This indicates that HYLA.L's price experiences larger fluctuations and is considered to be riskier than HYUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLA.L | HYUS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.17% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 4.67% | 3.27% | +1.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.86% | 4.29% | +1.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.19% | 6.86% | +1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.25% | 6.86% | +2.39% |
HYLA.L vs. HYUS.L - Expense Ratio Comparison
HYLA.L has a 0.50% expense ratio, which is higher than HYUS.L's 0.20% expense ratio.
Dividends
HYLA.L vs. HYUS.L - Dividend Comparison
HYLA.L has not paid dividends to shareholders, while HYUS.L's dividend yield for the trailing twelve months is around 9.19%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYLA.L iShares Global High Yield Corp Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYUS.L iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | 9.19% | 7.38% | 7.53% | 6.31% | 1.53% |
Frequently Asked Questions
HYLA.L and HYUS.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYUS.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYUS.L is cheaper with a 0.20% expense ratio, compared with 0.50% for HYLA.L.
HYLA.L tracks iShares Global High Yield Corp Bond UCITS ETF, while HYUS.L tracks Bloomberg US Corporate High Yield TR USD. Their fees differ too: 0.50% for HYLA.L and 0.20% for HYUS.L.
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