HYUS.L vs. HYGU.L
HYUS.L (iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)) and HYGU.L (iShares € High Yield Corp Bond UCITS ETF) are both High Yield Bonds funds from iShares - HYUS.L tracks the Bloomberg US Corporate High Yield TR USD while HYGU.L tracks the iShares € High Yield Corp Bond UCITS ETF. Both are passively managed. Over the past 3 years, HYUS.L returned 8.37%/yr vs 8.18%/yr for HYGU.L. A 0.60 correlation means they provide meaningful diversification when combined. HYUS.L charges 0.20%/yr vs 0.55%/yr for HYGU.L.
Performance
HYUS.L vs. HYGU.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYUS.L achieves a 1.44% return, which is significantly lower than HYGU.L's 2.18% return.
HYUS.L
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.44%
- YTD
- 1.44%
- 1Y
- 5.89%
- 3Y*
- 8.37%
- 5Y*
- —
- 10Y*
- —
HYGU.L
- 1D
- -0.03%
- 1M
- 0.24%
- 6M
- 2.18%
- YTD
- 2.18%
- 1Y
- 5.22%
- 3Y*
- 8.18%
- 5Y*
- 4.58%
- 10Y*
- —
HYUS.L vs. HYGU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYUS.L iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | 1.44% | 8.55% | 8.46% | 12.87% | -6.58% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 2.18% | 7.24% | 7.29% | 13.55% | -3.54% |
Correlation
The correlation between HYUS.L and HYGU.L is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.60 |
The correlation between HYUS.L and HYGU.L has been stable across timeframes, ranging from 0.55 to 0.60 - a consistent structural relationship.
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Return for Risk
HYUS.L vs. HYGU.L — Risk / Return Rank
HYUS.L
HYGU.L
HYUS.L vs. HYGU.L - 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 iShares € High Yield Corp Bond UCITS ETF (HYGU.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.
| HYUS.L | HYGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.33 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 2.00 | +0.80 |
| Martin ratioReturn relative to average drawdown | 10.82 | 8.61 | +2.22 |
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Drawdowns
HYUS.L vs. HYGU.L - Drawdown Comparison
The maximum HYUS.L drawdown since its inception was -11.00%, smaller than the maximum HYGU.L drawdown of -25.03%. Use the drawdown chart below to compare losses from any high point for HYUS.L and HYGU.L.
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Drawdown Indicators
| HYUS.L | HYGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.00% | -25.03% | +14.03% |
Max Drawdown (1Y)Largest decline over 1 year | -2.10% | -2.60% | +0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -5.23% | -3.62% | -1.61% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.61% | — |
Current DrawdownCurrent decline from peak | -0.63% | -0.16% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -1.84% | -2.06% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 0.61% | -0.07% |
Volatility
HYUS.L vs. HYGU.L - Volatility Comparison
iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (HYUS.L) has a higher volatility of 1.17% compared to iShares € High Yield Corp Bond UCITS ETF (HYGU.L) at 0.62%. This indicates that HYUS.L's price experiences larger fluctuations and is considered to be riskier than HYGU.L 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 | HYGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.62% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 3.27% | 2.85% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.29% | 3.33% | +0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.86% | 5.37% | +1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.86% | 7.10% | -0.24% |
HYUS.L vs. HYGU.L - Expense Ratio Comparison
HYUS.L has a 0.20% expense ratio, which is lower than HYGU.L's 0.55% expense ratio.
Dividends
HYUS.L vs. HYGU.L - Dividend Comparison
HYUS.L's dividend yield for the trailing twelve months is around 9.19%, while HYGU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYUS.L iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | 9.19% | 7.38% | 7.53% | 6.31% | 1.53% |
Frequently Asked Questions
HYUS.L and HYGU.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYUS.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYUS.L is cheaper with a 0.20% expense ratio, compared with 0.55% for HYGU.L.
HYUS.L tracks Bloomberg US Corporate High Yield TR USD, while HYGU.L tracks iShares € High Yield Corp Bond UCITS ETF. Their fees differ too: 0.20% for HYUS.L and 0.55% for HYGU.L.
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