IGBE.L vs. HYGU.L
IGBE.L (Invesco GBP Corporate Bond ESG UCITS ETF Dist) and HYGU.L (iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc)) are both exchange-traded funds - IGBE.L is a European Corporate Bonds fund tracking the Markit iBoxx GBP NonGilts TR, while HYGU.L is a European High Yield Bonds fund tracking the Markit iBoxx Euro Liquid High Yield Index (EUR). Both are passively managed. Over the past 5 years, IGBE.L returned -0.72%/yr vs 5.04%/yr for HYGU.L. At a 0.09 correlation, their price movements are largely independent. IGBE.L charges 0.10%/yr vs 0.55%/yr for HYGU.L.
Performance
IGBE.L vs. HYGU.L - Performance Comparison
Loading charts...
Different Trading Currencies
IGBE.L is traded in GBp, while HYGU.L is traded in USD. To make them comparable, the HYGU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGBE.L achieves a -0.16% return, which is significantly lower than HYGU.L's 2.21% return.
IGBE.L
- 1D
- 0.02%
- 1M
- -0.89%
- 6M
- -0.74%
- YTD
- -0.16%
- 1Y
- 4.00%
- 3Y*
- 6.21%
- 5Y*
- -0.72%
- 10Y*
- —
HYGU.L
- 1D
- 0.03%
- 1M
- -1.09%
- 6M
- 1.48%
- YTD
- 2.21%
- 1Y
- 4.82%
- 3Y*
- 6.89%
- 5Y*
- 5.04%
- 10Y*
- —
IGBE.L vs. HYGU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IGBE.L Invesco GBP Corporate Bond ESG UCITS ETF Dist | -0.16% | 7.23% | 2.45% | 9.16% | -18.23% | -3.62% | 6.31% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) | 2.21% | -0.40% | 9.16% | 7.87% | 3.91% | 4.70% | -2.39% |
Correlation
The correlation between IGBE.L and HYGU.L is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2020 | 0.09 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IGBE.L vs. HYGU.L — Risk / Return Rank
IGBE.L
HYGU.L
IGBE.L vs. HYGU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco GBP Corporate Bond ESG UCITS ETF Dist (IGBE.L) and iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) (HYGU.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.
| IGBE.L | HYGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.13 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 1.12 | -0.09 |
| Martin ratioReturn relative to average drawdown | 3.11 | 2.79 | +0.32 |
Loading charts...
Drawdowns
IGBE.L vs. HYGU.L - Drawdown Comparison
The maximum IGBE.L drawdown since its inception was -30.19%, which is greater than HYGU.L's maximum drawdown of -19.14%. Use the drawdown chart below to compare losses from any high point for IGBE.L and HYGU.L.
Loading charts...
Drawdown Indicators
| IGBE.L | HYGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.19% | -19.14% | -11.05% |
Max Drawdown (1Y)Largest decline over 1 year | -3.86% | -4.27% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -3.86% | -8.35% | +4.49% |
Max Drawdown (5Y)Largest decline over 5 years | -29.11% | -9.08% | -20.03% |
Current DrawdownCurrent decline from peak | -6.06% | -1.99% | -4.07% |
Average DrawdownAverage peak-to-trough decline | -10.65% | -3.90% | -6.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 1.72% | -0.44% |
Volatility
IGBE.L vs. HYGU.L - Volatility Comparison
The current volatility for Invesco GBP Corporate Bond ESG UCITS ETF Dist (IGBE.L) is 1.41%, while iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) (HYGU.L) has a volatility of 1.62%. This indicates that IGBE.L experiences smaller price fluctuations and is considered to be less risky than HYGU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IGBE.L | HYGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 1.62% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 4.37% | 5.11% | -0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.06% | 6.78% | -1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.44% | 8.40% | -0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.56% | 9.42% | -1.86% |
IGBE.L vs. HYGU.L - Expense Ratio Comparison
IGBE.L has a 0.10% expense ratio, which is lower than HYGU.L's 0.55% expense ratio.
Dividends
IGBE.L vs. HYGU.L - Dividend Comparison
IGBE.L's dividend yield for the trailing twelve months is around 5.02%, while HYGU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
HYGU.L iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGBE.L Invesco GBP Corporate Bond ESG UCITS ETF Dist | 5.02% | 4.81% | 4.59% | 3.85% | 2.47% | 1.76% | 1.31% |
Frequently Asked Questions
IGBE.L and HYGU.L have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGBE.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGBE.L is cheaper with a 0.10% expense ratio, compared with 0.55% for HYGU.L.
IGBE.L is categorized as European Corporate Bonds, while HYGU.L is European High Yield Bonds. IGBE.L tracks Markit iBoxx GBP NonGilts TR, while HYGU.L tracks Markit iBoxx Euro Liquid High Yield Index (EUR). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.10% for IGBE.L and 0.55% for HYGU.L.
Find the right allocation for IGBE.L and HYGU.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer