HYLA.L vs. V3GS.L
HYLA.L (iShares Global High Yield Corp Bond UCITS ETF USD (Acc)) and V3GS.L (Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating) are both Global Corporate Bonds funds - HYLA.L tracks the Markit iBoxx Global Developed Markets Liquid High Yield Capped (USD) Index while V3GS.L tracks the Bloomberg Gbl Agg Corp TR Hdg GBP. Both are passively managed. Over the past 5 years, HYLA.L returned 3.07%/yr vs 2.95%/yr for V3GS.L. A 0.64 correlation means they provide meaningful diversification when combined. HYLA.L charges 0.50%/yr vs 0.15%/yr for V3GS.L.
Performance
HYLA.L vs. V3GS.L - Performance Comparison
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Different Trading Currencies
HYLA.L is traded in USD, while V3GS.L is traded in GBP. To make them comparable, the V3GS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HYLA.L achieves a 0.29% return, which is significantly lower than V3GS.L's 1.11% return.
HYLA.L
- 1D
- -0.15%
- 1M
- -0.29%
- 6M
- 0.59%
- YTD
- 0.29%
- 1Y
- 3.96%
- 3Y*
- 7.55%
- 5Y*
- 3.07%
- 10Y*
- —
V3GS.L
- 1D
- -0.02%
- 1M
- 0.61%
- 6M
- 1.51%
- YTD
- 1.11%
- 1Y
- 6.57%
- 3Y*
- 9.93%
- 5Y*
- 2.95%
- 10Y*
- —
HYLA.L vs. V3GS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HYLA.L iShares Global High Yield Corp Bond UCITS ETF USD (Acc) | 0.29% | 14.45% | 2.59% | 13.39% | -11.81% | -1.35% |
V3GS.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating | 1.11% | 18.80% | 6.00% | 18.18% | -21.88% | -2.52% |
Correlation
The correlation between HYLA.L and V3GS.L is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since May 20, 2021 | 0.64 |
The correlation between HYLA.L and V3GS.L has been stable across timeframes, ranging from 0.63 to 0.65 - a consistent structural relationship.
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Return for Risk
HYLA.L vs. V3GS.L — Risk / Return Rank
HYLA.L
V3GS.L
HYLA.L vs. V3GS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corp Bond UCITS ETF USD (Acc) (HYLA.L) and Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating (V3GS.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 | V3GS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.13 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 1.24 | -0.39 |
| Martin ratioReturn relative to average drawdown | 2.86 | 3.22 | -0.36 |
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Drawdowns
HYLA.L vs. V3GS.L - Drawdown Comparison
The maximum HYLA.L drawdown since its inception was -24.42%, smaller than the maximum V3GS.L drawdown of -36.25%. Use the drawdown chart below to compare losses from any high point for HYLA.L and V3GS.L.
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Drawdown Indicators
| HYLA.L | V3GS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.42% | -36.25% | +11.83% |
Max Drawdown (1Y)Largest decline over 1 year | -4.62% | -5.28% | +0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -5.65% | -10.59% | +4.94% |
Max Drawdown (5Y)Largest decline over 5 years | -22.93% | -36.18% | +13.25% |
Current DrawdownCurrent decline from peak | -1.44% | -1.91% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -4.10% | -10.24% | +6.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 2.04% | -0.66% |
Volatility
HYLA.L vs. V3GS.L - Volatility Comparison
The current volatility for iShares Global High Yield Corp Bond UCITS ETF USD (Acc) (HYLA.L) is 1.37%, while Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating (V3GS.L) has a volatility of 2.08%. This indicates that HYLA.L experiences smaller price fluctuations and is considered to be less risky than V3GS.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 | V3GS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 2.08% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 6.61% | -1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.85% | 8.70% | -2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.19% | 11.70% | -3.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.25% | 11.57% | -2.32% |
HYLA.L vs. V3GS.L - Expense Ratio Comparison
HYLA.L has a 0.50% expense ratio, which is higher than V3GS.L's 0.15% expense ratio.
Dividends
HYLA.L vs. V3GS.L - Dividend Comparison
HYLA.L has not paid dividends to shareholders, while V3GS.L's dividend yield for the trailing twelve months is around 2.53%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HYLA.L iShares Global High Yield Corp Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
V3GS.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating | 2.53% | 3.59% | 4.25% | 4.00% | 2.43% | 0.59% |
Frequently Asked Questions
HYLA.L and V3GS.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, V3GS.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
V3GS.L is cheaper with a 0.15% expense ratio, compared with 0.50% for HYLA.L.
HYLA.L tracks Markit iBoxx Global Developed Markets Liquid High Yield Capped (USD) Index, while V3GS.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.50% for HYLA.L and 0.15% for V3GS.L.
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