HYSD.L vs. DHYG.L
HYSD.L (iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) and DHYG.L (iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist)) are both High Yield Bonds funds from iShares - HYSD.L tracks the ICE BofA US High Yield Constrained Index while DHYG.L tracks the Bloomberg MSCI US Corporate High Yield ESG SRI Bond Index (USD). Both are passively managed. Over the past 3 years, HYSD.L returned 7.99%/yr vs 7.76%/yr for DHYG.L. A 0.78 correlation means they provide meaningful diversification when combined. HYSD.L charges 0.22%/yr vs 0.27%/yr for DHYG.L.
Performance
HYSD.L vs. DHYG.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYSD.L achieves a 1.97% return, which is significantly higher than DHYG.L's 1.35% return.
HYSD.L
- 1D
- 0.00%
- 1M
- 0.31%
- 6M
- 1.29%
- YTD
- 1.97%
- 1Y
- 5.49%
- 3Y*
- 7.99%
- 5Y*
- —
- 10Y*
- —
DHYG.L
- 1D
- -0.24%
- 1M
- 0.00%
- 6M
- 1.12%
- YTD
- 1.35%
- 1Y
- 5.44%
- 3Y*
- 7.76%
- 5Y*
- —
- 10Y*
- —
HYSD.L vs. DHYG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.97% | 8.24% | 7.60% | 11.75% | -3.60% |
DHYG.L iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist) | 1.35% | 8.70% | 7.73% | 10.76% | -4.08% |
Correlation
The correlation between HYSD.L and DHYG.L is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2022 | 0.78 |
The correlation between HYSD.L and DHYG.L shifts across timeframes, from 0.67 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYSD.L vs. DHYG.L — Risk / Return Rank
HYSD.L
DHYG.L
HYSD.L vs. DHYG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.L) and iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist) (DHYG.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.
| HYSD.L | DHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.26 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 2.03 | +0.23 |
| Martin ratioReturn relative to average drawdown | 9.94 | 8.62 | +1.32 |
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Drawdowns
HYSD.L vs. DHYG.L - Drawdown Comparison
The maximum HYSD.L drawdown since its inception was -9.53%, smaller than the maximum DHYG.L drawdown of -17.27%. Use the drawdown chart below to compare losses from any high point for HYSD.L and DHYG.L.
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Drawdown Indicators
| HYSD.L | DHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.53% | -17.27% | +7.74% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -2.67% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | -4.39% | -0.63% |
Current DrawdownCurrent decline from peak | -0.10% | -0.47% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -1.50% | -4.90% | +3.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.63% | -0.08% |
Volatility
HYSD.L vs. DHYG.L - Volatility Comparison
iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.L) has a higher volatility of 0.91% compared to iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist) (DHYG.L) at 0.80%. This indicates that HYSD.L's price experiences larger fluctuations and is considered to be riskier than DHYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYSD.L | DHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 0.80% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 3.09% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | 4.05% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 6.88% | -0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.08% | 6.88% | -0.80% |
HYSD.L vs. DHYG.L - Expense Ratio Comparison
HYSD.L has a 0.22% expense ratio, which is lower than DHYG.L's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HYSD.L vs. DHYG.L - Dividend Comparison
HYSD.L's dividend yield for the trailing twelve months is around 7.39%, more than DHYG.L's 6.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DHYG.L iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist) | 6.81% | 6.70% | 7.02% | 6.41% | 6.51% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 7.39% | 7.39% | 7.39% | 5.61% | 0.00% |
Frequently Asked Questions
HYSD.L and DHYG.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYSD.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYSD.L is cheaper with a 0.22% expense ratio, compared with 0.27% for DHYG.L.
HYSD.L tracks ICE BofA US High Yield Constrained Index, while DHYG.L tracks Bloomberg MSCI US Corporate High Yield ESG SRI Bond Index (USD). Their fees differ too: 0.22% for HYSD.L and 0.27% for DHYG.L.
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