HYUS.L vs. ^TNX
HYUS.L (iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)) is High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD, while ^TNX (Treasury Yield 10 Years) is an index. Over the past 3 years, HYUS.L returned 8.87%/yr vs 6.63%/yr for ^TNX. At a correlation of -0.33, they often move in opposite directions.
Performance
HYUS.L vs. ^TNX - Performance Comparison
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Returns By Period
In the year-to-date period, HYUS.L achieves a 1.22% return, which is significantly lower than ^TNX's 7.54% return.
HYUS.L
- 1D
- -0.00%
- 1M
- 0.51%
- YTD
- 1.22%
- 6M
- 2.18%
- 1Y
- 6.91%
- 3Y*
- 8.87%
- 5Y*
- —
- 10Y*
- —
^TNX
- 1D
- -0.31%
- 1M
- 1.38%
- YTD
- 7.54%
- 6M
- 8.98%
- 1Y
- 2.57%
- 3Y*
- 6.63%
- 5Y*
- 23.47%
- 10Y*
- 10.02%
HYUS.L vs. ^TNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYUS.L iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | 1.22% | 8.62% | 8.28% | 12.85% | -5.88% |
^TNX Treasury Yield 10 Years | 7.54% | -8.97% | 18.29% | -0.34% | 46.27% |
Correlation
The correlation between HYUS.L and ^TNX is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.37 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2022 | -0.33 |
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Return for Risk
HYUS.L vs. ^TNX — Risk / Return Rank
HYUS.L
^TNX
HYUS.L vs. ^TNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (HYUS.L) and Treasury Yield 10 Years (^TNX). 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.
| HYUS.L | ^TNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.67 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.04 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 0.21 | +2.80 |
| Martin ratioReturn relative to average drawdown | 12.39 | 0.37 | +12.02 |
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
| HYUS.L | ^TNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 0.17 | +1.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.73 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.21 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | -0.02 | +0.89 |
Drawdowns
HYUS.L vs. ^TNX - Drawdown Comparison
The maximum HYUS.L drawdown since its inception was -10.49%, smaller than the maximum ^TNX drawdown of -93.78%. Use the drawdown chart below to compare losses from any high point for HYUS.L and ^TNX.
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Drawdown Indicators
| HYUS.L | ^TNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.49% | -93.78% | +83.29% |
Max Drawdown (1Y)Largest decline over 1 year | -2.29% | -12.35% | +10.06% |
Max Drawdown (3Y)Largest decline over 3 years | -5.06% | -27.41% | +22.35% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.41% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -84.57% | — |
Current DrawdownCurrent decline from peak | -0.13% | -44.20% | +44.07% |
Average DrawdownAverage peak-to-trough decline | -1.67% | -51.34% | +49.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 6.97% | -6.41% |
Volatility
HYUS.L vs. ^TNX - Volatility Comparison
The current volatility for iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (HYUS.L) is 1.39%, while Treasury Yield 10 Years (^TNX) has a volatility of 5.04%. This indicates that HYUS.L experiences smaller price fluctuations and is considered to be less risky than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYUS.L | ^TNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 5.04% | -3.65% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 10.62% | -7.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 15.51% | -11.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.69% | 32.43% | -25.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 47.98% | -41.29% |
Frequently Asked Questions
HYUS.L and ^TNX have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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