IEAC.AS vs. IHYG.L
IEAC.AS (iShares Core € Corp Bond UCITS ETF) and IHYG.L (iShares € High Yield Corp Bond UCITS ETF EUR (Dist)) are both exchange-traded funds - IEAC.AS is a Corporate Bonds fund tracking the Bloomberg Euro Corporate Bond Index, while IHYG.L is a European High Yield Bonds fund tracking the Markit iBoxx Euro Liquid High Yield Index. Both are passively managed. Over the past 10 years, IEAC.AS returned 1.02%/yr vs 3.09%/yr for IHYG.L. At a 0.38 correlation, their price movements are largely independent. IEAC.AS charges 0.20%/yr vs 0.50%/yr for IHYG.L.
Performance
IEAC.AS vs. IHYG.L - Performance Comparison
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Returns By Period
In the year-to-date period, IEAC.AS achieves a 0.58% return, which is significantly lower than IHYG.L's 0.69% return. Over the past 10 years, IEAC.AS has underperformed IHYG.L with an annualized return of 1.02%, while IHYG.L has yielded a comparatively higher 3.09% annualized return.
IEAC.AS
- 1D
- 0.10%
- 1M
- 0.34%
- YTD
- 0.58%
- 6M
- 0.54%
- 1Y
- 2.23%
- 3Y*
- 4.59%
- 5Y*
- 0.07%
- 10Y*
- 1.02%
IHYG.L
- 1D
- 0.07%
- 1M
- 0.48%
- YTD
- 0.69%
- 6M
- 1.34%
- 1Y
- 3.29%
- 3Y*
- 6.31%
- 5Y*
- 2.68%
- 10Y*
- 3.09%
IEAC.AS vs. IHYG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEAC.AS iShares Core € Corp Bond UCITS ETF | 0.58% | 3.05% | 4.40% | 7.74% | -13.63% | -1.02% | 2.55% | 6.29% | -1.52% | 2.20% |
IHYG.L iShares € High Yield Corp Bond UCITS ETF EUR (Dist) | 0.69% | 5.32% | 5.71% | 11.34% | -9.47% | 3.04% | 1.14% | 9.71% | -3.57% | 4.81% |
Correlation
The correlation between IEAC.AS and IHYG.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2010 | 0.38 |
Over the past year, IEAC.AS and IHYG.L have become more correlated (0.60) than their long-term average of 0.38, meaning their price movements have been converging.
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Return for Risk
IEAC.AS vs. IHYG.L — Risk / Return Rank
IEAC.AS
IHYG.L
IEAC.AS vs. IHYG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core € Corp Bond UCITS ETF (IEAC.AS) and iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.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.
| IEAC.AS | IHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.17 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 1.14 | -0.37 |
| Martin ratioReturn relative to average drawdown | 2.68 | 4.71 | -2.03 |
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
| IEAC.AS | IHYG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 0.88 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.49 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.45 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.63 | +0.15 |
Drawdowns
IEAC.AS vs. IHYG.L - Drawdown Comparison
The maximum IEAC.AS drawdown since its inception was -17.26%, smaller than the maximum IHYG.L drawdown of -25.61%. Use the drawdown chart below to compare losses from any high point for IEAC.AS and IHYG.L.
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Drawdown Indicators
| IEAC.AS | IHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.26% | -25.61% | +8.35% |
Max Drawdown (1Y)Largest decline over 1 year | -2.65% | -2.76% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -2.65% | -3.89% | +1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -17.26% | -14.59% | -2.67% |
Max Drawdown (10Y)Largest decline over 10 years | -17.26% | -25.61% | +8.35% |
Current DrawdownCurrent decline from peak | -0.99% | -0.16% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -2.73% | -2.05% | -0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 0.67% | +0.09% |
Volatility
IEAC.AS vs. IHYG.L - Volatility Comparison
iShares Core € Corp Bond UCITS ETF (IEAC.AS) has a higher volatility of 1.15% compared to iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L) at 1.01%. This indicates that IEAC.AS's price experiences larger fluctuations and is considered to be riskier than IHYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEAC.AS | IHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.01% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.67% | 3.07% | -0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.02% | 3.56% | -0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.42% | 5.44% | -1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.34% | 6.79% | -2.45% |
IEAC.AS vs. IHYG.L - Expense Ratio Comparison
IEAC.AS has a 0.20% expense ratio, which is lower than IHYG.L's 0.50% expense ratio.
Dividends
IEAC.AS vs. IHYG.L - Dividend Comparison
IEAC.AS's dividend yield for the trailing twelve months is around 3.33%, less than IHYG.L's 5.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEAC.AS iShares Core € Corp Bond UCITS ETF | 3.33% | 3.29% | 3.39% | 2.51% | 0.84% | 0.81% | 0.84% | 1.10% | 0.98% | 1.52% | 1.66% | 0.90% |
IHYG.L iShares € High Yield Corp Bond UCITS ETF EUR (Dist) | 5.17% | 5.44% | 6.10% | 5.41% | 3.70% | 3.07% | 3.67% | 3.76% | 3.68% | 3.77% | 4.03% | 4.59% |
Frequently Asked Questions
IEAC.AS and IHYG.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEAC.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEAC.AS is cheaper with a 0.20% expense ratio, compared with 0.50% for IHYG.L.
IEAC.AS is categorized as Corporate Bonds, while IHYG.L is European High Yield Bonds. IEAC.AS tracks Bloomberg Euro Corporate Bond Index, while IHYG.L tracks Markit iBoxx Euro Liquid High Yield Index. Their fees differ too: 0.20% for IEAC.AS and 0.50% for IHYG.L.
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