IESG.L vs. DHYG.L
IESG.L (iShares MSCI Europe SRI UCITS ETF) and DHYG.L (iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - IESG.L is a ESG fund tracking the MSCI Europe SRI Select Reduced Fossil Fuel Index, while DHYG.L is a High Yield Bonds fund tracking the Bloomberg MSCI US Corporate High Yield ESG SRI Bond Index (USD). Both are passively managed. Over the past 3 years, IESG.L returned 7.76%/yr vs 7.76%/yr for DHYG.L. At a 0.50 correlation, their price movements are largely independent. IESG.L charges 0.20%/yr vs 0.27%/yr for DHYG.L.
Performance
IESG.L vs. DHYG.L - Performance Comparison
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Different Trading Currencies
IESG.L is traded in GBp, while DHYG.L is traded in GBP. To make them comparable, the DHYG.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IESG.L achieves a 7.43% return, which is significantly higher than DHYG.L's 1.35% return.
IESG.L
- 1D
- -0.35%
- 1M
- -1.16%
- 6M
- 4.35%
- YTD
- 7.43%
- 1Y
- 9.06%
- 3Y*
- 7.76%
- 5Y*
- 5.24%
- 10Y*
- 8.44%
DHYG.L
- 1D
- -0.24%
- 1M
- 0.00%
- 6M
- 1.12%
- YTD
- 1.35%
- 1Y
- 5.44%
- 3Y*
- 7.76%
- 5Y*
- —
- 10Y*
- —
IESG.L vs. DHYG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IESG.L iShares MSCI Europe SRI UCITS ETF | 7.43% | 8.44% | 0.88% | 14.27% | -9.89% | 2.77% |
DHYG.L iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist) | 1.35% | 8.70% | 7.73% | 10.76% | -13.39% | -0.20% |
Correlation
The correlation between IESG.L and DHYG.L is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2021 | 0.50 |
The correlation between IESG.L and DHYG.L shifts across timeframes, from 0.45 (3 years) to 0.56 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IESG.L vs. DHYG.L — Risk / Return Rank
IESG.L
DHYG.L
IESG.L vs. DHYG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe SRI UCITS ETF (IESG.L) and iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist) (DHYG.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.
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.
| IESG.L | DHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.26 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 2.03 | -1.23 |
| Martin ratioReturn relative to average drawdown | 2.63 | 8.62 | -5.99 |
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Drawdowns
IESG.L vs. DHYG.L - Drawdown Comparison
The maximum IESG.L drawdown since its inception was -33.61%, which is greater than DHYG.L's maximum drawdown of -17.27%. Use the drawdown chart below to compare losses from any high point for IESG.L and DHYG.L.
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Drawdown Indicators
| IESG.L | DHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.61% | -17.27% | -16.34% |
Max Drawdown (1Y)Largest decline over 1 year | -11.32% | -2.67% | -8.65% |
Max Drawdown (3Y)Largest decline over 3 years | -15.07% | -4.39% | -10.68% |
Max Drawdown (5Y)Largest decline over 5 years | -20.77% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.95% | — | — |
Current DrawdownCurrent decline from peak | -2.33% | -0.47% | -1.86% |
Average DrawdownAverage peak-to-trough decline | -6.95% | -4.90% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 0.63% | +2.81% |
Volatility
IESG.L vs. DHYG.L - Volatility Comparison
iShares MSCI Europe SRI UCITS ETF (IESG.L) has a higher volatility of 3.49% compared to iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist) (DHYG.L) at 0.80%. This indicates that IESG.L's price experiences larger fluctuations and is considered to be riskier than DHYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IESG.L | DHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 0.80% | +2.69% |
Volatility (6M)Calculated over the trailing 6-month period | 10.90% | 3.09% | +7.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.93% | 4.05% | +8.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.26% | 6.88% | +9.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.78% | 6.88% | +8.90% |
IESG.L vs. DHYG.L - Expense Ratio Comparison
IESG.L has a 0.20% expense ratio, which is lower than DHYG.L's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IESG.L vs. DHYG.L - Dividend Comparison
IESG.L has not paid dividends to shareholders, while DHYG.L's dividend yield for the trailing twelve months is around 6.81%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DHYG.L iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist) | 6.81% | 6.70% | 7.02% | 6.41% | 6.51% |
IESG.L iShares MSCI Europe SRI UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IESG.L and DHYG.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IESG.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IESG.L is cheaper with a 0.20% expense ratio, compared with 0.27% for DHYG.L.
IESG.L is categorized as ESG, while DHYG.L is High Yield Bonds. IESG.L tracks MSCI Europe SRI Select Reduced Fossil Fuel Index, while DHYG.L tracks Bloomberg MSCI US Corporate High Yield ESG SRI Bond Index (USD). Their fees differ too: 0.20% for IESG.L and 0.27% for DHYG.L.
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