HYLD.L vs. HYGU.L
HYLD.L (iShares Global High Yield Corp Bond UCITS ETF) and HYGU.L (iShares € High Yield Corp Bond UCITS ETF) are both High Yield Bonds funds from iShares - HYLD.L tracks the iShares Global High Yield Corp Bond UCITS ETF while HYGU.L tracks the iShares € High Yield Corp Bond UCITS ETF. Both are passively managed. Over the past 5 years, HYLD.L returned 3.12%/yr vs 4.58%/yr for HYGU.L. A 0.62 correlation means they provide meaningful diversification when combined. HYLD.L charges 0.50%/yr vs 0.55%/yr for HYGU.L.
Performance
HYLD.L vs. HYGU.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYLD.L achieves a 0.82% return, which is significantly lower than HYGU.L's 2.18% return.
HYLD.L
- 1D
- 0.32%
- 1M
- -0.25%
- 6M
- 0.92%
- YTD
- 0.82%
- 1Y
- 4.53%
- 3Y*
- 7.76%
- 5Y*
- 3.12%
- 10Y*
- 4.32%
HYGU.L
- 1D
- -0.03%
- 1M
- 0.24%
- 6M
- 2.18%
- YTD
- 2.18%
- 1Y
- 5.22%
- 3Y*
- 8.18%
- 5Y*
- 4.58%
- 10Y*
- —
HYLD.L vs. HYGU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYLD.L iShares Global High Yield Corp Bond UCITS ETF | 0.82% | 14.42% | 2.61% | 13.55% | -11.99% | -0.90% | 8.32% | 11.99% | -4.23% | 1.94% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 2.18% | 7.24% | 7.29% | 13.55% | -7.14% | 3.72% | 2.16% | 12.83% | -0.86% | 0.71% |
Correlation
The correlation between HYLD.L and HYGU.L is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | 0.62 |
The correlation between HYLD.L and HYGU.L shifts across timeframes, from 0.52 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYLD.L vs. HYGU.L — Risk / Return Rank
HYLD.L
HYGU.L
HYLD.L vs. HYGU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corp Bond UCITS ETF (HYLD.L) and iShares € High Yield Corp Bond UCITS ETF (HYGU.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.
| HYLD.L | HYGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.33 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | 2.00 | -1.01 |
| Martin ratioReturn relative to average drawdown | 3.26 | 8.61 | -5.34 |
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Drawdowns
HYLD.L vs. HYGU.L - Drawdown Comparison
The maximum HYLD.L drawdown since its inception was -23.53%, smaller than the maximum HYGU.L drawdown of -25.03%. Use the drawdown chart below to compare losses from any high point for HYLD.L and HYGU.L.
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Drawdown Indicators
| HYLD.L | HYGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.53% | -25.03% | +1.50% |
Max Drawdown (1Y)Largest decline over 1 year | -4.21% | -2.60% | -1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -5.36% | -3.62% | -1.74% |
Max Drawdown (5Y)Largest decline over 5 years | -22.52% | -13.61% | -8.91% |
Max Drawdown (10Y)Largest decline over 10 years | -23.53% | — | — |
Current DrawdownCurrent decline from peak | -0.82% | -0.16% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -2.06% | -1.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 0.61% | +0.66% |
Volatility
HYLD.L vs. HYGU.L - Volatility Comparison
iShares Global High Yield Corp Bond UCITS ETF (HYLD.L) has a higher volatility of 1.35% compared to iShares € High Yield Corp Bond UCITS ETF (HYGU.L) at 0.62%. This indicates that HYLD.L's price experiences larger fluctuations and is considered to be riskier than HYGU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLD.L | HYGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 0.62% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 4.21% | 2.85% | +1.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.50% | 3.33% | +2.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.31% | 5.37% | +2.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.57% | 7.10% | +1.47% |
HYLD.L vs. HYGU.L - Expense Ratio Comparison
HYLD.L has a 0.50% expense ratio, which is lower than HYGU.L's 0.55% expense ratio.
Dividends
HYLD.L vs. HYGU.L - Dividend Comparison
HYLD.L's dividend yield for the trailing twelve months is around 7.08%, while HYGU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYLD.L iShares Global High Yield Corp Bond UCITS ETF | 7.08% | 5.32% | 5.61% | 4.70% | 4.01% | 3.95% | 4.42% | 4.77% | 4.98% | 4.73% | 5.08% | 5.31% |
Frequently Asked Questions
HYLD.L and HYGU.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYLD.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYLD.L is cheaper with a 0.50% expense ratio, compared with 0.55% for HYGU.L.
HYLD.L tracks iShares Global High Yield Corp Bond UCITS ETF, while HYGU.L tracks iShares € High Yield Corp Bond UCITS ETF. Their fees differ too: 0.50% for HYLD.L and 0.55% for HYGU.L.
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