IESE.AS vs. HYG
IESE.AS (iShares MSCI Europe SRI UCITS ETF EUR (Acc)) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both exchange-traded funds - IESE.AS is a Europe Equities fund tracking the MSCI Europe NR EUR, while HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index. Both are passively managed. Over the past 10 years, IESE.AS returned 7.82%/yr vs 4.72%/yr for HYG. At a 0.29 correlation, their price movements are largely independent. IESE.AS charges 0.20%/yr vs 0.49%/yr for HYG.
Performance
IESE.AS vs. HYG - Performance Comparison
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Different Trading Currencies
IESE.AS is traded in EUR, while HYG is traded in USD. To make them comparable, the HYG values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IESE.AS achieves a 6.26% return, which is significantly higher than HYG's 2.54% return. Over the past 10 years, IESE.AS has outperformed HYG with an annualized return of 7.82%, while HYG has yielded a comparatively lower 4.72% annualized return.
IESE.AS
- 1D
- -0.98%
- 1M
- 4.02%
- YTD
- 6.26%
- 6M
- 8.13%
- 1Y
- 5.45%
- 3Y*
- 6.57%
- 5Y*
- 5.21%
- 10Y*
- 7.82%
HYG
- 1D
- -0.06%
- 1M
- 0.94%
- YTD
- 2.54%
- 6M
- 1.98%
- 1Y
- 4.58%
- 3Y*
- 5.60%
- 5Y*
- 4.75%
- 10Y*
- 4.72%
IESE.AS vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IESE.AS iShares MSCI Europe SRI UCITS ETF EUR (Acc) | 6.26% | 2.40% | 6.46% | 16.38% | -14.87% | 27.26% | 3.74% | 29.04% | -6.71% | 11.41% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2.54% | -4.29% | 15.09% | 8.19% | -5.46% | 11.52% | -4.14% | 16.67% | 2.58% | -6.96% |
Correlation
The correlation between IESE.AS and HYG is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jun 2, 2011 | 0.29 |
The correlation between IESE.AS and HYG shifts across timeframes, from 0.15 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IESE.AS vs. HYG — Risk / Return Rank
IESE.AS
HYG
IESE.AS vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
| IESE.AS | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.14 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.54 | 1.23 | -0.69 |
| Martin ratioReturn relative to average drawdown | 1.41 | 4.10 | -2.69 |
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
| IESE.AS | HYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.40 | 0.73 | -0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.55 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.48 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.49 | +0.01 |
Drawdowns
IESE.AS vs. HYG - Drawdown Comparison
The maximum IESE.AS drawdown since its inception was -33.34%, which is greater than HYG's maximum drawdown of -31.22%. Use the drawdown chart below to compare losses from any high point for IESE.AS and HYG.
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Drawdown Indicators
| IESE.AS | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.34% | -31.22% | -2.12% |
Max Drawdown (1Y)Largest decline over 1 year | -10.05% | -3.58% | -6.47% |
Max Drawdown (3Y)Largest decline over 3 years | -15.79% | -12.22% | -3.57% |
Max Drawdown (5Y)Largest decline over 5 years | -23.66% | -12.22% | -11.44% |
Max Drawdown (10Y)Largest decline over 10 years | -33.34% | -21.61% | -11.73% |
Current DrawdownCurrent decline from peak | -1.88% | -3.90% | +2.02% |
Average DrawdownAverage peak-to-trough decline | -6.13% | -5.45% | -0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.84% | 1.10% | +2.74% |
Volatility
IESE.AS vs. HYG - Volatility Comparison
iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) has a higher volatility of 4.74% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 0.94%. This indicates that IESE.AS's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IESE.AS | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.74% | 0.94% | +3.80% |
Volatility (6M)Calculated over the trailing 6-month period | 10.86% | 4.17% | +6.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.40% | 6.05% | +7.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.49% | 8.60% | +5.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.29% | 9.79% | +5.50% |
IESE.AS vs. HYG - Expense Ratio Comparison
IESE.AS has a 0.20% expense ratio, which is lower than HYG's 0.49% expense ratio.
Dividends
IESE.AS vs. HYG - Dividend Comparison
IESE.AS has not paid dividends to shareholders, while HYG's dividend yield for the trailing twelve months is around 5.92%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.92% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
IESE.AS iShares MSCI Europe SRI UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IESE.AS and HYG have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IESE.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IESE.AS is cheaper with a 0.20% expense ratio, compared with 0.49% for HYG.
IESE.AS is categorized as Europe Equities, while HYG is High Yield Bonds. IESE.AS tracks MSCI Europe NR EUR, while HYG tracks Markit iBoxx USD Liquid High Yield Index. Their fees differ too: 0.20% for IESE.AS and 0.49% for HYG.
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