HYLD.L vs. IHHG.L
HYLD.L (iShares Global High Yield Corp Bond UCITS ETF USD (Dist)) and IHHG.L (iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - HYLD.L is a Global Corporate Bonds fund tracking the Markit iBoxx Global Developed Markets Liquid High Yield Capped (USD) Index, while IHHG.L is a Corporate Bonds fund tracking the iBoxx USD Liquid High Yield Capped (USD). Both are passively managed. Over the past 5 years, HYLD.L returned 3.03%/yr vs 2.64%/yr for IHHG.L. A 0.69 correlation means they provide meaningful diversification when combined. HYLD.L charges 0.50%/yr vs 0.55%/yr for IHHG.L.
Performance
HYLD.L vs. IHHG.L - Performance Comparison
Loading charts...
Different Trading Currencies
HYLD.L is traded in USD, while IHHG.L is traded in GBP. To make them comparable, the IHHG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HYLD.L achieves a 0.39% return, which is significantly lower than IHHG.L's 1.53% return.
HYLD.L
- 1D
- -0.18%
- 1M
- -0.54%
- 6M
- 0.72%
- YTD
- 0.39%
- 1Y
- 4.18%
- 3Y*
- 7.53%
- 5Y*
- 3.03%
- 10Y*
- 4.32%
IHHG.L
- 1D
- -0.45%
- 1M
- 1.44%
- 6M
- 1.67%
- YTD
- 1.53%
- 1Y
- 6.04%
- 3Y*
- 8.52%
- 5Y*
- 2.64%
- 10Y*
- —
HYLD.L vs. IHHG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYLD.L iShares Global High Yield Corp Bond UCITS ETF USD (Dist) | 0.39% | 14.42% | 2.61% | 13.55% | -11.99% | -0.90% | 8.32% | 11.99% | -4.11% |
IHHG.L iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.53% | 17.26% | 4.61% | 15.56% | -19.99% | 2.50% | 5.69% | 14.97% | -11.41% |
Correlation
The correlation between HYLD.L and IHHG.L is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2018 | 0.69 |
The correlation between HYLD.L and IHHG.L shifts across timeframes, from 0.62 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HYLD.L vs. IHHG.L — Risk / Return Rank
HYLD.L
IHHG.L
HYLD.L vs. IHHG.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 (Dist) (HYLD.L) and iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (IHHG.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 | IHHG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.12 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | 0.90 | +0.09 |
| Martin ratioReturn relative to average drawdown | 3.27 | 2.38 | +0.89 |
Loading charts...
Drawdowns
HYLD.L vs. IHHG.L - Drawdown Comparison
The maximum HYLD.L drawdown since its inception was -23.53%, smaller than the maximum IHHG.L drawdown of -34.42%. Use the drawdown chart below to compare losses from any high point for HYLD.L and IHHG.L.
Loading charts...
Drawdown Indicators
| HYLD.L | IHHG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.53% | -34.42% | +10.89% |
Max Drawdown (1Y)Largest decline over 1 year | -4.21% | -6.71% | +2.50% |
Max Drawdown (3Y)Largest decline over 3 years | -5.36% | -9.62% | +4.26% |
Max Drawdown (5Y)Largest decline over 5 years | -22.52% | -33.92% | +11.40% |
Max Drawdown (10Y)Largest decline over 10 years | -23.53% | — | — |
Current DrawdownCurrent decline from peak | -1.25% | -1.76% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -8.65% | +4.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 2.54% | -1.26% |
Volatility
HYLD.L vs. IHHG.L - Volatility Comparison
The current volatility for iShares Global High Yield Corp Bond UCITS ETF USD (Dist) (HYLD.L) is 1.25%, while iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (IHHG.L) has a volatility of 1.98%. This indicates that HYLD.L experiences smaller price fluctuations and is considered to be less risky than IHHG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HYLD.L | IHHG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.98% | -0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 4.20% | 6.40% | -2.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.49% | 8.56% | -3.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.30% | 12.65% | -4.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.57% | 13.56% | -4.99% |
HYLD.L vs. IHHG.L - Expense Ratio Comparison
HYLD.L has a 0.50% expense ratio, which is lower than IHHG.L's 0.55% expense ratio.
Dividends
HYLD.L vs. IHHG.L - Dividend Comparison
HYLD.L's dividend yield for the trailing twelve months is around 7.11%, more than IHHG.L's 6.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYLD.L iShares Global High Yield Corp Bond UCITS ETF USD (Dist) | 7.11% | 5.32% | 5.61% | 4.70% | 4.01% | 3.95% | 4.42% | 4.77% | 4.98% | 4.73% | 5.08% | 5.31% |
IHHG.L iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 6.15% | 6.06% | 6.23% | 5.55% | 5.21% | 4.25% | 4.89% | 5.47% | 3.58% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYLD.L and IHHG.L have a correlation of 0.62, 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 IHHG.L.
HYLD.L is categorized as Global Corporate Bonds, while IHHG.L is Corporate Bonds. HYLD.L tracks Markit iBoxx Global Developed Markets Liquid High Yield Capped (USD) Index, while IHHG.L tracks iBoxx USD Liquid High Yield Capped (USD). Their fees differ too: 0.50% for HYLD.L and 0.55% for IHHG.L.
Find the right allocation for HYLD.L and IHHG.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer