IGEA.L vs. HYGB.L
IGEA.L (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist)) and HYGB.L (VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds - IGEA.L tracks the BBG EM Asia Local Currency Govt Country Cap NET Index while HYGB.L tracks the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, IGEA.L returned -0.40%/yr vs 2.90%/yr for HYGB.L. At a 0.15 correlation, their price movements are largely independent. IGEA.L charges 0.50%/yr vs 0.40%/yr for HYGB.L.
Performance
IGEA.L vs. HYGB.L - Performance Comparison
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Different Trading Currencies
IGEA.L is traded in USD, while HYGB.L is traded in GBP. To make them comparable, the HYGB.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGEA.L achieves a -5.77% return, which is significantly lower than HYGB.L's 3.78% return.
IGEA.L
- 1D
- 0.26%
- 1M
- 0.09%
- 6M
- -3.15%
- YTD
- -5.77%
- 1Y
- -6.44%
- 3Y*
- 1.08%
- 5Y*
- -0.40%
- 10Y*
- 1.10%
- ALL TIME*
- 1.07%
HYGB.L
- 1D
- 0.10%
- 1M
- -0.08%
- 6M
- 3.19%
- YTD
- 3.78%
- 1Y
- 8.30%
- 3Y*
- 10.05%
- 5Y*
- 2.90%
- 10Y*
- —
- ALL TIME*
- -0.04%
IGEA.L vs. HYGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IGEA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | -5.77% | 5.84% | 1.57% | 4.77% | -7.79% | -4.40% | 9.11% | 8.96% | -1.65% |
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) | 3.78% | 9.22% | 11.83% | 7.02% | -12.94% | -0.32% | 5.02% | 15.45% | -30.18% |
Correlation
The correlation between IGEA.L and HYGB.L is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.15 |
The correlation between IGEA.L and HYGB.L shifts across timeframes, from 0.01 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IGEA.L vs. HYGB.L — Risk / Return Rank
IGEA.L
HYGB.L
IGEA.L vs. HYGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (IGEA.L) and VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.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.
| IGEA.L | HYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.61 | ||
| Sortino ratioReturn per unit of downside risk | -3.60 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.30 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 2.84 | -3.59 |
| Martin ratioReturn relative to average drawdown | -1.40 | 12.45 | -13.84 |
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Drawdowns
IGEA.L vs. HYGB.L - Drawdown Comparison
The maximum IGEA.L drawdown since its inception was -21.51%, smaller than the maximum HYGB.L drawdown of -37.51%. Use the drawdown chart below to compare losses from any high point for IGEA.L and HYGB.L.
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Drawdown Indicators
| IGEA.L | HYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.51% | -37.51% | +16.00% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -2.91% | -5.68% |
Max Drawdown (3Y)Largest decline over 3 years | -8.59% | -4.72% | -3.87% |
Max Drawdown (5Y)Largest decline over 5 years | -18.81% | -25.04% | +6.23% |
Max Drawdown (10Y)Largest decline over 10 years | -21.51% | — | — |
Current DrawdownCurrent decline from peak | -7.56% | -3.30% | -4.26% |
Average DrawdownAverage peak-to-trough decline | -5.95% | -21.18% | +15.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 0.67% | +3.94% |
Volatility
IGEA.L vs. HYGB.L - Volatility Comparison
The current volatility for iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (IGEA.L) is 1.02%, while VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.L) has a volatility of 1.26%. This indicates that IGEA.L experiences smaller price fluctuations and is considered to be less risky than HYGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGEA.L | HYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 1.26% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 4.82% | 4.67% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.06% | 5.34% | +0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 17.85% | -11.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.32% | 17.17% | -10.85% |
IGEA.L vs. HYGB.L - Expense Ratio Comparison
IGEA.L has a 0.50% expense ratio, which is higher than HYGB.L's 0.40% expense ratio.
Dividends
IGEA.L vs. HYGB.L - Dividend Comparison
IGEA.L's dividend yield for the trailing twelve months is around 1.77%, while HYGB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (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% |
IGEA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | 1.77% | 3.24% | 3.07% | 2.87% | 2.96% | 2.42% | 2.80% | 2.46% | 2.57% | 2.02% | 3.01% | 1.18% |
Frequently Asked Questions
IGEA.L and HYGB.L have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYGB.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYGB.L is cheaper with a 0.40% expense ratio, compared with 0.50% for IGEA.L.
IGEA.L tracks BBG EM Asia Local Currency Govt Country Cap NET Index, while HYGB.L tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.50% for IGEA.L and 0.40% for HYGB.L.
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