HYLE.DE vs. FAHY.DE
HYLE.DE (iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist) and FAHY.DE (Invesco US High Yield Fallen Angels UCITS ETF Dist) are both High Yield Bonds funds - HYLE.DE tracks the iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged) while FAHY.DE tracks the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 5 years, HYLE.DE returned 2.18%/yr vs 3.51%/yr for FAHY.DE. At a 0.32 correlation, their price movements are largely independent. HYLE.DE charges 0.55%/yr vs 0.45%/yr for FAHY.DE.
Performance
HYLE.DE vs. FAHY.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HYLE.DE achieves a 0.62% return, which is significantly lower than FAHY.DE's 1.84% return.
HYLE.DE
- 1D
- 0.17%
- 1M
- -0.03%
- YTD
- 0.62%
- 6M
- 0.96%
- 1Y
- 3.91%
- 3Y*
- 6.29%
- 5Y*
- 2.18%
- 10Y*
- —
FAHY.DE
- 1D
- -0.16%
- 1M
- 1.51%
- YTD
- 1.84%
- 6M
- 0.61%
- 1Y
- 5.71%
- 3Y*
- 4.93%
- 5Y*
- 3.51%
- 10Y*
- —
HYLE.DE vs. FAHY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HYLE.DE iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist | 0.62% | 5.98% | 5.45% | 9.62% | -10.62% | 3.02% | 2.52% | 3.53% |
FAHY.DE Invesco US High Yield Fallen Angels UCITS ETF Dist | 1.84% | -2.35% | 10.86% | 6.42% | -8.72% | 14.53% | -0.80% | 2.06% |
Correlation
The correlation between HYLE.DE and FAHY.DE is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2019 | 0.32 |
Over the past year, the correlation between HYLE.DE and FAHY.DE has dropped to 0.11 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.
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Return for Risk
HYLE.DE vs. FAHY.DE — Risk / Return Rank
HYLE.DE
FAHY.DE
HYLE.DE vs. FAHY.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist (HYLE.DE) and Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.DE). 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.
| HYLE.DE | FAHY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.17 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 1.76 | -0.30 |
| Martin ratioReturn relative to average drawdown | 6.60 | 4.39 | +2.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYLE.DE | FAHY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 0.92 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.41 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.37 | -0.05 |
Drawdowns
HYLE.DE vs. FAHY.DE - Drawdown Comparison
The maximum HYLE.DE drawdown since its inception was -22.59%, smaller than the maximum FAHY.DE drawdown of -28.23%. Use the drawdown chart below to compare losses from any high point for HYLE.DE and FAHY.DE.
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Drawdown Indicators
| HYLE.DE | FAHY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -28.23% | +5.64% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -3.28% | +0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -4.05% | -12.29% | +8.24% |
Max Drawdown (5Y)Largest decline over 5 years | -15.38% | -12.29% | -3.09% |
Current DrawdownCurrent decline from peak | -0.23% | -3.38% | +3.15% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -4.48% | +1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 1.32% | -0.69% |
Volatility
HYLE.DE vs. FAHY.DE - Volatility Comparison
The current volatility for iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist (HYLE.DE) is 1.06%, while Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.DE) has a volatility of 1.87%. This indicates that HYLE.DE experiences smaller price fluctuations and is considered to be less risky than FAHY.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLE.DE | FAHY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.87% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 2.83% | 4.40% | -1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 6.29% | -2.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.85% | 8.44% | -2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.39% | 9.67% | -1.28% |
HYLE.DE vs. FAHY.DE - Expense Ratio Comparison
HYLE.DE has a 0.55% expense ratio, which is higher than FAHY.DE's 0.45% expense ratio.
Dividends
HYLE.DE vs. FAHY.DE - Dividend Comparison
HYLE.DE's dividend yield for the trailing twelve months is around 5.36%, less than FAHY.DE's 6.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FAHY.DE Invesco US High Yield Fallen Angels UCITS ETF Dist | 6.57% | 6.75% | 6.86% | 6.89% | 5.82% | 4.47% | 6.24% | 6.07% | 6.09% | 5.71% | 1.23% |
HYLE.DE iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist | 5.36% | 5.34% | 5.38% | 4.76% | 4.17% | 3.83% | 4.50% | 1.75% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYLE.DE and FAHY.DE have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FAHY.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FAHY.DE is cheaper with a 0.45% expense ratio, compared with 0.55% for HYLE.DE.
HYLE.DE tracks iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged), while FAHY.DE tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.55% for HYLE.DE and 0.45% for FAHY.DE.
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