HYLE.DE vs. PSWD.DE
HYLE.DE (iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist) and PSWD.DE (Invesco FTSE RAFI All World 3000 UCITS ETF) are both exchange-traded funds - HYLE.DE is a High Yield Bonds fund tracking the iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged), while PSWD.DE is a Global Equities fund tracking the FTSE RAFI All-World 3000. Both are passively managed. Over the past 5 years, HYLE.DE returned 2.18%/yr vs 13.34%/yr for PSWD.DE. A 0.56 correlation means they provide meaningful diversification when combined. HYLE.DE charges 0.55%/yr vs 0.39%/yr for PSWD.DE.
Performance
HYLE.DE vs. PSWD.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HYLE.DE achieves a 0.62% return, which is significantly lower than PSWD.DE's 16.46% return.
HYLE.DE
- 1D
- 0.17%
- 1M
- 0.41%
- YTD
- 0.62%
- 6M
- 1.13%
- 1Y
- 4.13%
- 3Y*
- 6.29%
- 5Y*
- 2.18%
- 10Y*
- —
PSWD.DE
- 1D
- -0.19%
- 1M
- 4.72%
- YTD
- 16.46%
- 6M
- 17.75%
- 1Y
- 32.88%
- 3Y*
- 18.93%
- 5Y*
- 13.34%
- 10Y*
- 11.86%
HYLE.DE vs. PSWD.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% |
PSWD.DE Invesco FTSE RAFI All World 3000 UCITS ETF | 16.46% | 14.64% | 17.68% | 12.73% | -3.63% | 31.90% | -3.90% | 8.05% |
Correlation
The correlation between HYLE.DE and PSWD.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2019 | 0.56 |
The correlation between HYLE.DE and PSWD.DE has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.
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
HYLE.DE vs. PSWD.DE — Risk / Return Rank
HYLE.DE
PSWD.DE
HYLE.DE vs. PSWD.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 FTSE RAFI All World 3000 UCITS ETF (PSWD.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 | PSWD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -2.27 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.58 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 5.56 | -4.10 |
| Martin ratioReturn relative to average drawdown | 6.60 | 22.39 | -15.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HYLE.DE | PSWD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 3.10 | -1.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 1.00 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.68 | -0.36 |
Drawdowns
HYLE.DE vs. PSWD.DE - Drawdown Comparison
The maximum HYLE.DE drawdown since its inception was -22.59%, smaller than the maximum PSWD.DE drawdown of -36.39%. Use the drawdown chart below to compare losses from any high point for HYLE.DE and PSWD.DE.
Loading charts...
Drawdown Indicators
| HYLE.DE | PSWD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -36.39% | +13.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -5.89% | +3.06% |
Max Drawdown (3Y)Largest decline over 3 years | -4.05% | -18.19% | +14.14% |
Max Drawdown (5Y)Largest decline over 5 years | -15.38% | -18.19% | +2.81% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.39% | — |
Current DrawdownCurrent decline from peak | -0.23% | -0.31% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -4.65% | +1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 1.46% | -0.83% |
Volatility
HYLE.DE vs. PSWD.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 FTSE RAFI All World 3000 UCITS ETF (PSWD.DE) has a volatility of 3.08%. This indicates that HYLE.DE experiences smaller price fluctuations and is considered to be less risky than PSWD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HYLE.DE | PSWD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 3.08% | -2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.83% | 7.86% | -5.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 10.54% | -7.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.85% | 13.16% | -7.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.39% | 15.19% | -6.80% |
HYLE.DE vs. PSWD.DE - Expense Ratio Comparison
HYLE.DE has a 0.55% expense ratio, which is higher than PSWD.DE's 0.39% expense ratio.
Dividends
HYLE.DE vs. PSWD.DE - Dividend Comparison
HYLE.DE's dividend yield for the trailing twelve months is around 5.36%, more than PSWD.DE's 1.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
PSWD.DE Invesco FTSE RAFI All World 3000 UCITS ETF | 1.75% | 2.03% | 2.27% | 2.48% | 2.66% | 1.92% | 1.98% | 2.37% | 2.56% | 2.06% | 1.97% | 2.02% |
Frequently Asked Questions
HYLE.DE and PSWD.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PSWD.DE is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PSWD.DE is cheaper with a 0.39% expense ratio, compared with 0.55% for HYLE.DE.
HYLE.DE is categorized as High Yield Bonds, while PSWD.DE is Global Equities. HYLE.DE tracks iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged), while PSWD.DE tracks FTSE RAFI All-World 3000. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.55% for HYLE.DE and 0.39% for PSWD.DE.
Find the right allocation for HYLE.DE and PSWD.DE
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