HYUS.L vs. JHYP.L
HYUS.L (iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)) and JHYP.L (JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist)) are both High Yield Bonds funds - HYUS.L tracks the Bloomberg US Corporate High Yield TR USD while JHYP.L tracks the ICE BofA Gbl HY Constnd TR HGBP. Both are passively managed. Over the past 3 years, HYUS.L returned 8.87%/yr vs 11.55%/yr for JHYP.L. A 0.55 correlation means they provide meaningful diversification when combined. HYUS.L charges 0.20%/yr vs 0.35%/yr for JHYP.L.
Performance
HYUS.L vs. JHYP.L - Performance Comparison
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Different Trading Currencies
HYUS.L is traded in USD, while JHYP.L is traded in GBP. To make them comparable, the JHYP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HYUS.L achieves a 1.22% return, which is significantly lower than JHYP.L's 1.89% return.
HYUS.L
- 1D
- -0.00%
- 1M
- 0.51%
- YTD
- 1.22%
- 6M
- 2.18%
- 1Y
- 6.91%
- 3Y*
- 8.87%
- 5Y*
- —
- 10Y*
- —
JHYP.L
- 1D
- 0.18%
- 1M
- -0.21%
- YTD
- 1.89%
- 6M
- 3.64%
- 1Y
- 7.39%
- 3Y*
- 11.55%
- 5Y*
- 2.60%
- 10Y*
- —
HYUS.L vs. JHYP.L - 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% |
JHYP.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) | 1.89% | 17.50% | 5.90% | 15.59% | -12.49% |
Correlation
The correlation between HYUS.L and JHYP.L is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2022 | 0.55 |
The correlation between HYUS.L and JHYP.L has been stable across timeframes, ranging from 0.49 to 0.55 - a consistent structural relationship.
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Return for Risk
HYUS.L vs. JHYP.L — Risk / Return Rank
HYUS.L
JHYP.L
HYUS.L vs. JHYP.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 JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.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.
| HYUS.L | JHYP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.15 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 1.11 | +1.89 |
| Martin ratioReturn relative to average drawdown | 12.39 | 3.30 | +9.09 |
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 | JHYP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 0.86 | +0.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.58 | +0.29 |
Drawdowns
HYUS.L vs. JHYP.L - Drawdown Comparison
The maximum HYUS.L drawdown since its inception was -10.49%, smaller than the maximum JHYP.L drawdown of -34.73%. Use the drawdown chart below to compare losses from any high point for HYUS.L and JHYP.L.
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Drawdown Indicators
| HYUS.L | JHYP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.49% | -34.73% | +24.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.29% | -6.61% | +4.32% |
Max Drawdown (3Y)Largest decline over 3 years | -5.06% | -10.10% | +5.04% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.73% | — |
Current DrawdownCurrent decline from peak | -0.13% | -1.48% | +1.35% |
Average DrawdownAverage peak-to-trough decline | -1.67% | -8.44% | +6.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 2.23% | -1.67% |
Volatility
HYUS.L vs. JHYP.L - Volatility Comparison
The current volatility for iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (HYUS.L) is 1.39%, while JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.L) has a volatility of 2.38%. This indicates that HYUS.L experiences smaller price fluctuations and is considered to be less risky than JHYP.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 | JHYP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 2.38% | -0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 6.02% | -3.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 8.54% | -4.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.69% | 11.85% | -5.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 11.73% | -5.04% |
HYUS.L vs. JHYP.L - Expense Ratio Comparison
HYUS.L has a 0.20% expense ratio, which is lower than JHYP.L's 0.35% expense ratio.
Dividends
HYUS.L vs. JHYP.L - Dividend Comparison
HYUS.L's dividend yield for the trailing twelve months is around 9.21%, more than JHYP.L's 5.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
HYUS.L iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | 9.21% | 7.38% | 7.54% | 6.30% | 1.52% | 0.00% | 0.00% |
JHYP.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) | 5.97% | 6.58% | 5.96% | 8.55% | 5.62% | 4.37% | 0.69% |
Frequently Asked Questions
HYUS.L and JHYP.L have a correlation of 0.52, 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 0.35% for JHYP.L.
HYUS.L tracks Bloomberg US Corporate High Yield TR USD, while JHYP.L tracks ICE BofA Gbl HY Constnd TR HGBP. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.20% for HYUS.L and 0.35% for JHYP.L.
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