HYSD.L vs. GFGB.L
HYSD.L (iShares Broad $ High Yield Corp Bond UCITS ETF) and GFGB.L (VanEck Global Fallen Angel High Yield Bond UCITS ETF) are both High Yield Bonds funds - HYSD.L tracks the iShares Broad $ High Yield Corp Bond UCITS ETF while GFGB.L tracks the ICE BofA Gbl HY Constnd TR USD. Both are passively managed. Over the past 3 years, HYSD.L returned 8.23%/yr vs 7.30%/yr for GFGB.L. At a 0.21 correlation, their price movements are largely independent.
Performance
HYSD.L vs. GFGB.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYSD.L achieves a 2.22% return, which is significantly lower than GFGB.L's 3.33% return.
HYSD.L
- 1D
- 0.36%
- 1M
- 0.36%
- 6M
- 1.62%
- YTD
- 2.22%
- 1Y
- 6.13%
- 3Y*
- 8.23%
- 5Y*
- —
- 10Y*
- —
GFGB.L
- 1D
- -0.53%
- 1M
- -0.85%
- 6M
- 3.14%
- YTD
- 3.33%
- 1Y
- 6.10%
- 3Y*
- 7.30%
- 5Y*
- 3.45%
- 10Y*
- —
HYSD.L vs. GFGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF | 2.22% | 8.24% | 7.60% | 11.75% | -3.60% |
GFGB.L VanEck Global Fallen Angel High Yield Bond UCITS ETF | 3.33% | 2.41% | 7.86% | 4.28% | 2.19% |
Correlation
The correlation between HYSD.L and GFGB.L 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 (All Time) Calculated using the full available price history since Aug 3, 2022 | 0.21 |
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Return for Risk
HYSD.L vs. GFGB.L — Risk / Return Rank
HYSD.L
GFGB.L
HYSD.L vs. GFGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Broad $ High Yield Corp Bond UCITS ETF (HYSD.L) and VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFGB.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 | GFGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.17 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 1.99 | +0.53 |
| Martin ratioReturn relative to average drawdown | 11.10 | 4.97 | +6.13 |
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Drawdowns
HYSD.L vs. GFGB.L - Drawdown Comparison
The maximum HYSD.L drawdown since its inception was -9.53%, smaller than the maximum GFGB.L drawdown of -28.88%. Use the drawdown chart below to compare losses from any high point for HYSD.L and GFGB.L.
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Drawdown Indicators
| HYSD.L | GFGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.53% | -28.88% | +19.35% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -3.05% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | -7.55% | +2.53% |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.36% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.51% | +2.51% |
Average DrawdownAverage peak-to-trough decline | -1.50% | -9.25% | +7.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 1.22% | -0.67% |
Volatility
HYSD.L vs. GFGB.L - Volatility Comparison
The current volatility for iShares Broad $ High Yield Corp Bond UCITS ETF (HYSD.L) is 0.97%, while VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFGB.L) has a volatility of 2.13%. This indicates that HYSD.L experiences smaller price fluctuations and is considered to be less risky than GFGB.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 | GFGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 2.13% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.15% | 6.04% | -2.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.89% | 7.08% | -3.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 7.86% | -1.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.09% | 13.07% | -6.98% |
Dividends
HYSD.L vs. GFGB.L - Dividend Comparison
HYSD.L's dividend yield for the trailing twelve months is around 11.04%, while GFGB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GFGB.L VanEck Global Fallen Angel High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF | 11.04% | 7.39% | 7.39% | 5.61% |
Frequently Asked Questions
HYSD.L and GFGB.L 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.
HYSD.L tracks iShares Broad $ High Yield Corp Bond UCITS ETF, while GFGB.L tracks ICE BofA Gbl HY Constnd TR USD. They also come from different issuers: iShares and VanEck.
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