HYLE.DE vs. IBC2.DE
HYLE.DE (iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist) and IBC2.DE (iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist)) are both High Yield Bonds funds from iShares - HYLE.DE tracks the iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged) while IBC2.DE tracks the Markit iBoxx USD Liquid High Yield Capped Index (EUR Hedged). Both are passively managed. Over the past 5 years, HYLE.DE returned 2.18%/yr vs 1.62%/yr for IBC2.DE. A 0.75 correlation means they provide meaningful diversification when combined. Both charge a 0.55% expense ratio.
Performance
HYLE.DE vs. IBC2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HYLE.DE achieves a 1.31% return, which is significantly higher than IBC2.DE's 0.98% return.
HYLE.DE
- 1D
- 0.00%
- 1M
- 0.77%
- 6M
- 1.54%
- YTD
- 1.31%
- 1Y
- 3.63%
- 3Y*
- 6.45%
- 5Y*
- 2.18%
- 10Y*
- —
IBC2.DE
- 1D
- 0.00%
- 1M
- 0.52%
- 6M
- 0.98%
- YTD
- 0.98%
- 1Y
- 3.60%
- 3Y*
- 6.22%
- 5Y*
- 1.62%
- 10Y*
- —
HYLE.DE vs. IBC2.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 | 1.31% | 5.99% | 5.32% | 9.83% | -10.71% | 3.04% | 2.41% | 3.61% |
IBC2.DE iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) | 0.98% | 7.02% | 4.85% | 8.05% | -11.78% | 3.08% | 2.84% | 2.76% |
Correlation
The correlation between HYLE.DE and IBC2.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2019 | 0.75 |
The correlation between HYLE.DE and IBC2.DE shifts across timeframes, from 0.57 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYLE.DE vs. IBC2.DE — Risk / Return Rank
HYLE.DE
IBC2.DE
HYLE.DE vs. IBC2.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 iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IBC2.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.
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.
| HYLE.DE | IBC2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.18 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.18 | +0.06 |
| Martin ratioReturn relative to average drawdown | 5.62 | 5.24 | +0.38 |
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Drawdowns
HYLE.DE vs. IBC2.DE - Drawdown Comparison
The maximum HYLE.DE drawdown since its inception was -22.51%, roughly equal to the maximum IBC2.DE drawdown of -22.54%. Use the drawdown chart below to compare losses from any high point for HYLE.DE and IBC2.DE.
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Drawdown Indicators
| HYLE.DE | IBC2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.51% | -22.54% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -3.03% | +0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -3.96% | -4.22% | +0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -15.44% | -15.71% | +0.27% |
Current DrawdownCurrent decline from peak | 0.00% | -0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.48% | -3.57% | +0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.69% | -0.05% |
Volatility
HYLE.DE vs. IBC2.DE - Volatility Comparison
iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist (HYLE.DE) and iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IBC2.DE) have volatilities of 0.88% and 0.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLE.DE | IBC2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 0.91% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 3.27% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.81% | 4.16% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.96% | 6.95% | -0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.27% | 8.21% | +0.06% |
HYLE.DE vs. IBC2.DE - Expense Ratio Comparison
Both HYLE.DE and IBC2.DE have an expense ratio of 0.55%.
Dividends
HYLE.DE vs. IBC2.DE - Dividend Comparison
HYLE.DE's dividend yield for the trailing twelve months is around 6.87%, more than IBC2.DE's 6.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HYLE.DE iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist | 6.87% | 5.34% | 5.38% | 4.76% | 4.17% | 3.83% | 4.50% | 1.75% | 0.00% |
IBC2.DE iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) | 6.19% | 6.07% | 6.33% | 5.59% | 5.13% | 4.34% | 4.82% | 5.58% | 3.90% |
Frequently Asked Questions
HYLE.DE and IBC2.DE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
HYLE.DE and IBC2.DE have the same expense ratio: 0.55% per year.
HYLE.DE tracks iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged), while IBC2.DE tracks Markit iBoxx USD Liquid High Yield Capped Index (EUR Hedged).
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