IBC9.DE vs. UDHY.DE
IBC9.DE (iShares Global High Yield Corporate Bond UCITS ETF) and UDHY.DE (iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)) are both High Yield Bonds funds from iShares - IBC9.DE tracks the iBoxx® Global Developed Markets Liquid High Yield Capped while UDHY.DE tracks the ICE BofAML US High Yield Constrained. Both are passively managed. Over the past 3 years, IBC9.DE returned 6.02%/yr vs 3.98%/yr for UDHY.DE. A 0.71 correlation means they provide meaningful diversification when combined. IBC9.DE charges 0.50%/yr vs 0.20%/yr for UDHY.DE.
Performance
IBC9.DE vs. UDHY.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBC9.DE achieves a 1.87% return, which is significantly higher than UDHY.DE's -1.14% return.
IBC9.DE
- 1D
- -0.13%
- 1M
- 0.64%
- YTD
- 1.87%
- 6M
- 1.54%
- 1Y
- 4.30%
- 3Y*
- 6.02%
- 5Y*
- 3.91%
- 10Y*
- 4.28%
UDHY.DE
- 1D
- 0.01%
- 1M
- 1.21%
- YTD
- -1.14%
- 6M
- -1.88%
- 1Y
- 0.71%
- 3Y*
- 3.98%
- 5Y*
- —
- 10Y*
- —
IBC9.DE vs. UDHY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBC9.DE iShares Global High Yield Corporate Bond UCITS ETF | 1.87% | 1.08% | 9.31% | 9.25% | -3.06% |
UDHY.DE iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | -1.14% | -3.92% | 13.24% | 8.32% | -4.04% |
Correlation
The correlation between IBC9.DE and UDHY.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2022 | 0.71 |
The correlation between IBC9.DE and UDHY.DE has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
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Return for Risk
IBC9.DE vs. UDHY.DE — Risk / Return Rank
IBC9.DE
UDHY.DE
IBC9.DE vs. UDHY.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corporate Bond UCITS ETF (IBC9.DE) and iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (UDHY.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.
| IBC9.DE | UDHY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.02 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 0.08 | +1.79 |
| Martin ratioReturn relative to average drawdown | 6.58 | 0.19 | +6.39 |
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
| IBC9.DE | UDHY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.10 | 0.08 | +1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.34 | +0.22 |
Drawdowns
IBC9.DE vs. UDHY.DE - Drawdown Comparison
The maximum IBC9.DE drawdown since its inception was -22.34%, which is greater than UDHY.DE's maximum drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for IBC9.DE and UDHY.DE.
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Drawdown Indicators
| IBC9.DE | UDHY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.34% | -12.23% | -10.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.13% | -6.17% | +4.04% |
Max Drawdown (3Y)Largest decline over 3 years | -6.78% | -12.23% | +5.45% |
Max Drawdown (5Y)Largest decline over 5 years | -10.01% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.34% | — | — |
Current DrawdownCurrent decline from peak | -0.13% | -7.76% | +7.63% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -4.84% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 2.67% | -2.06% |
Volatility
IBC9.DE vs. UDHY.DE - Volatility Comparison
The current volatility for iShares Global High Yield Corporate Bond UCITS ETF (IBC9.DE) is 0.84%, while iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (UDHY.DE) has a volatility of 0.99%. This indicates that IBC9.DE experiences smaller price fluctuations and is considered to be less risky than UDHY.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBC9.DE | UDHY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 0.99% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.76% | 4.73% | -1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.64% | 6.32% | -2.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.64% | 8.04% | -2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.85% | 8.04% | -0.19% |
IBC9.DE vs. UDHY.DE - Expense Ratio Comparison
IBC9.DE has a 0.50% expense ratio, which is higher than UDHY.DE's 0.20% expense ratio.
Dividends
IBC9.DE vs. UDHY.DE - Dividend Comparison
IBC9.DE's dividend yield for the trailing twelve months is around 5.56%, more than UDHY.DE's 4.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBC9.DE iShares Global High Yield Corporate Bond UCITS ETF | 5.56% | 5.55% | 5.32% | 4.88% | 4.06% | 3.76% | 4.80% | 4.78% | 4.77% | 5.03% | 4.78% | 5.18% |
UDHY.DE iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | 4.67% | 7.37% | 6.63% | 5.74% | 1.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBC9.DE and UDHY.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UDHY.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UDHY.DE is cheaper with a 0.20% expense ratio, compared with 0.50% for IBC9.DE.
IBC9.DE tracks iBoxx® Global Developed Markets Liquid High Yield Capped, while UDHY.DE tracks ICE BofAML US High Yield Constrained. Their fees differ too: 0.50% for IBC9.DE and 0.20% for UDHY.DE.
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