HYLD.L vs. UHYG.L
HYLD.L (iShares Global High Yield Corp Bond UCITS ETF) and UHYG.L (Lyxor ESG USD High Yield (DR) UCITS ETF - Dist) are both High Yield Bonds funds - HYLD.L tracks the iShares Global High Yield Corp Bond UCITS ETF while UHYG.L tracks the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 10 years, HYLD.L returned 4.32%/yr vs 1.89%/yr for UHYG.L. At a 0.43 correlation, their price movements are largely independent. HYLD.L charges 0.50%/yr vs 0.25%/yr for UHYG.L.
Performance
HYLD.L vs. UHYG.L - Performance Comparison
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Different Trading Currencies
HYLD.L is traded in USD, while UHYG.L is traded in GBP. To make them comparable, the UHYG.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 0.82% return, which is significantly lower than UHYG.L's 2.17% return. Over the past 10 years, HYLD.L has outperformed UHYG.L with an annualized return of 4.32%, while UHYG.L has yielded a comparatively lower 1.89% annualized 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%
UHYG.L
- 1D
- 0.58%
- 1M
- 0.52%
- 6M
- 1.97%
- YTD
- 2.17%
- 1Y
- 6.58%
- 3Y*
- 8.38%
- 5Y*
- 3.55%
- 10Y*
- 1.89%
HYLD.L vs. UHYG.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% | 9.84% |
UHYG.L Lyxor ESG USD High Yield (DR) UCITS ETF - Dist | 2.17% | 8.93% | 7.93% | 11.21% | -12.20% | 3.55% | 5.28% | 13.98% | -2.40% | 6.48% |
Correlation
The correlation between HYLD.L and UHYG.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jul 5, 2016 | 0.43 |
The correlation between HYLD.L and UHYG.L shifts across timeframes, from 0.27 (1 year) to 0.47 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYLD.L vs. UHYG.L — Risk / Return Rank
HYLD.L
UHYG.L
HYLD.L vs. UHYG.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 Lyxor ESG USD High Yield (DR) UCITS ETF - Dist (UHYG.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 | UHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.22 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | 2.08 | -1.10 |
| Martin ratioReturn relative to average drawdown | 3.26 | 9.44 | -6.18 |
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Drawdowns
HYLD.L vs. UHYG.L - Drawdown Comparison
The maximum HYLD.L drawdown since its inception was -23.53%, smaller than the maximum UHYG.L drawdown of -29.08%. Use the drawdown chart below to compare losses from any high point for HYLD.L and UHYG.L.
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Drawdown Indicators
| HYLD.L | UHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.53% | -29.08% | +5.55% |
Max Drawdown (1Y)Largest decline over 1 year | -4.21% | -3.15% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -5.36% | -4.72% | -0.64% |
Max Drawdown (5Y)Largest decline over 5 years | -22.52% | -17.08% | -5.44% |
Max Drawdown (10Y)Largest decline over 10 years | -23.53% | -29.08% | +5.55% |
Current DrawdownCurrent decline from peak | -0.82% | -0.08% | -0.74% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -9.69% | +5.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 0.70% | +0.57% |
Volatility
HYLD.L vs. UHYG.L - Volatility Comparison
The current volatility for iShares Global High Yield Corp Bond UCITS ETF (HYLD.L) is 1.35%, while Lyxor ESG USD High Yield (DR) UCITS ETF - Dist (UHYG.L) has a volatility of 1.44%. This indicates that HYLD.L experiences smaller price fluctuations and is considered to be less risky than UHYG.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 | UHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.44% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.21% | 4.06% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.50% | 5.12% | +0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.31% | 7.66% | +0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.57% | 10.12% | -1.55% |
HYLD.L vs. UHYG.L - Expense Ratio Comparison
HYLD.L has a 0.50% expense ratio, which is higher than UHYG.L's 0.25% expense ratio.
Dividends
HYLD.L vs. UHYG.L - Dividend Comparison
HYLD.L's dividend yield for the trailing twelve months is around 7.08%, more than UHYG.L's 5.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
UHYG.L Lyxor ESG USD High Yield (DR) UCITS ETF - Dist | 5.75% | 5.84% | 3.44% | 6.01% | 5.93% | 6.98% | 6.97% | 6.59% | 5.42% | 4.11% | 0.00% | 0.00% |
Frequently Asked Questions
HYLD.L and UHYG.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UHYG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UHYG.L is cheaper with a 0.25% expense ratio, compared with 0.50% for HYLD.L.
HYLD.L tracks iShares Global High Yield Corp Bond UCITS ETF, while UHYG.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.50% for HYLD.L and 0.25% for UHYG.L.
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