IBC2.DE vs. FAHY.DE
IBC2.DE (iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist)) and FAHY.DE (Invesco US High Yield Fallen Angels UCITS ETF Dist) are both High Yield Bonds funds - IBC2.DE tracks the Markit iBoxx USD Liquid High Yield Capped Index (EUR Hedged) while FAHY.DE tracks the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 5 years, IBC2.DE returned 1.61%/yr vs 2.99%/yr for FAHY.DE. At a 0.33 correlation, their price movements are largely independent. IBC2.DE charges 0.55%/yr vs 0.45%/yr for FAHY.DE.
Performance
IBC2.DE vs. FAHY.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBC2.DE achieves a 0.72% return, which is significantly lower than FAHY.DE's 4.46% return.
IBC2.DE
- 1D
- 0.00%
- 1M
- -0.00%
- 6M
- 0.22%
- YTD
- 0.72%
- 1Y
- 3.60%
- 3Y*
- 5.68%
- 5Y*
- 1.61%
- 10Y*
- —
FAHY.DE
- 1D
- -0.05%
- 1M
- 2.18%
- 6M
- 2.15%
- YTD
- 4.46%
- 1Y
- 7.51%
- 3Y*
- 6.55%
- 5Y*
- 2.99%
- 10Y*
- —
IBC2.DE vs. FAHY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IBC2.DE iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) | 0.72% | 7.02% | 4.85% | 8.05% | -11.78% | 3.08% | 2.84% | 10.03% | -3.66% |
FAHY.DE Invesco US High Yield Fallen Angels UCITS ETF Dist | 4.46% | -2.30% | 10.83% | 6.42% | -8.70% | 14.53% | -0.82% | 16.15% | 2.10% |
Correlation
The correlation between IBC2.DE and FAHY.DE is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2018 | 0.33 |
Over the past year, the correlation between IBC2.DE and FAHY.DE has dropped to 0.12 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.
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Return for Risk
IBC2.DE vs. FAHY.DE — Risk / Return Rank
IBC2.DE
FAHY.DE
IBC2.DE vs. FAHY.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IBC2.DE) and Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.DE). 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.
| IBC2.DE | FAHY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.21 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 2.26 | -1.08 |
| Martin ratioReturn relative to average drawdown | 5.26 | 5.71 | -0.45 |
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Drawdowns
IBC2.DE vs. FAHY.DE - Drawdown Comparison
The maximum IBC2.DE drawdown since its inception was -22.54%, smaller than the maximum FAHY.DE drawdown of -28.24%. Use the drawdown chart below to compare losses from any high point for IBC2.DE and FAHY.DE.
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Drawdown Indicators
| IBC2.DE | FAHY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.54% | -28.24% | +5.70% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -3.31% | +0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -4.22% | -12.30% | +8.08% |
Max Drawdown (5Y)Largest decline over 5 years | -15.71% | -12.30% | -3.41% |
Current DrawdownCurrent decline from peak | -0.26% | -0.88% | +0.62% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -5.83% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 1.31% | -0.63% |
Volatility
IBC2.DE vs. FAHY.DE - Volatility Comparison
The current volatility for iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IBC2.DE) is 0.83%, while Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.DE) has a volatility of 1.83%. This indicates that IBC2.DE experiences smaller price fluctuations and is considered to be less risky than FAHY.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBC2.DE | FAHY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 1.83% | -1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 3.28% | 4.76% | -1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.17% | 6.58% | -2.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.95% | 8.46% | -1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.20% | 13.81% | -5.61% |
IBC2.DE vs. FAHY.DE - Expense Ratio Comparison
IBC2.DE has a 0.55% expense ratio, which is higher than FAHY.DE's 0.45% expense ratio.
Dividends
IBC2.DE vs. FAHY.DE - Dividend Comparison
IBC2.DE's dividend yield for the trailing twelve months is around 6.21%, less than FAHY.DE's 6.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FAHY.DE Invesco US High Yield Fallen Angels UCITS ETF Dist | 6.46% | 6.75% | 6.86% | 6.89% | 5.82% | 4.47% | 6.24% | 6.07% | 6.09% | 5.71% | 1.23% |
IBC2.DE iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) | 6.21% | 6.07% | 6.33% | 5.59% | 5.13% | 4.34% | 4.82% | 5.58% | 3.90% | 0.00% | 0.00% |
Frequently Asked Questions
IBC2.DE and FAHY.DE have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FAHY.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FAHY.DE is cheaper with a 0.45% expense ratio, compared with 0.55% for IBC2.DE.
IBC2.DE tracks Markit iBoxx USD Liquid High Yield Capped Index (EUR Hedged), while FAHY.DE tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.55% for IBC2.DE and 0.45% for FAHY.DE.
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