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IGHY.L vs. GFGB.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

IGHY.L vs. GFGB.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Global High Yield Corporate Bond UCITS ETF (IGHY.L) and VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFGB.L).

IGHY.L and GFGB.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IGHY.L is a passively managed fund by iShares that tracks the performance of the ICE BofA Gbl HY Constnd TR USD. It was launched on Nov 13, 2012. GFGB.L is a passively managed fund by VanEck that tracks the performance of the ICE BofA Gbl HY Constnd TR USD. It was launched on Mar 19, 2018. Both IGHY.L and GFGB.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IGHY.L vs. GFGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Global High Yield Corporate Bond UCITS ETF (IGHY.L) and VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFGB.L). The values are adjusted to include any dividend payments, if applicable.

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IGHY.L vs. GFGB.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IGHY.L
iShares Global High Yield Corporate Bond UCITS ETF		-3.09%1.20%-1.38%1.98%-5.02%-3.21%-0.41%3.09%3.96%
GFGB.L
VanEck Global Fallen Angel High Yield Bond UCITS ETF		0.85%2.41%7.87%4.27%-2.32%3.31%13.08%9.77%6.75%

Returns By Period

In the year-to-date period, IGHY.L achieves a -3.09% return, which is significantly lower than GFGB.L's 0.85% return.

IGHY.L

1D
0.22%
1M
-3.75%
YTD
-3.09%
6M
-1.75%
1Y
0.65%
3Y*
0.03%
5Y*
-1.07%
10Y*
0.40%

GFGB.L

1D
-0.16%
1M
-1.45%
YTD
0.85%
6M
1.64%
1Y
3.78%
3Y*
4.76%
5Y*
3.69%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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iShares Global High Yield Corporate Bond UCITS ETF

VanEck Global Fallen Angel High Yield Bond UCITS ETF

Often compared with IGHY.L:
IGHY.L vs. FSYDIGHY.L vs. CNDX.LIGHY.L vs. CSP1.LIGHY.L vs. DHYA.LIGHY.L vs. EHYG.LIGHY.L vs. EIMI.LIGHY.L vs. ISAC.L
Often compared with GFGB.L:
GFGB.L vs. PBDCGFGB.L vs. EHYG.LGFGB.L vs. IHYU.LGFGB.L vs. HYFC.LGFGB.L vs. JHYP.LGFGB.L vs. STHY.LGFGB.L vs. FAHY.L

IGHY.L vs. GFGB.L - Expense Ratio Comparison

IGHY.L has a 0.50% expense ratio, which is higher than GFGB.L's 0.40% expense ratio.

IGHY.L
iShares Global High Yield Corporate Bond UCITS ETF
GFGB.L
VanEck Global Fallen Angel High Yield Bond UCITS ETF

Return for Risk

IGHY.L vs. GFGB.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IGHY.L
IGHY.L Risk / Return Rank: 1313
Overall Rank
IGHY.L Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
IGHY.L Sortino Ratio Rank: 1212
Sortino Ratio Rank
IGHY.L Omega Ratio Rank: 1313
Omega Ratio Rank
IGHY.L Calmar Ratio Rank: 1414
Calmar Ratio Rank
IGHY.L Martin Ratio Rank: 1515
Martin Ratio Rank
GFGB.L
GFGB.L Risk / Return Rank: 3030
Overall Rank
GFGB.L Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
GFGB.L Sortino Ratio Rank: 2626
Sortino Ratio Rank
GFGB.L Omega Ratio Rank: 2525
Omega Ratio Rank
GFGB.L Calmar Ratio Rank: 4141
Calmar Ratio Rank
GFGB.L Martin Ratio Rank: 3030
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IGHY.L vs. GFGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corporate Bond UCITS ETF (IGHY.L) and VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFGB.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.

IGHY.LGFGB.LDifference

Sharpe ratio

Return per unit of total volatility

0.10

0.57

-0.47

Sortino ratio

Return per unit of downside risk

0.16

0.82

-0.66

Omega ratio

Gain probability vs. loss probability

1.03

1.11

-0.08

Calmar ratio

Return relative to maximum drawdown

0.13

1.20

-1.07

Martin ratio

Return relative to average drawdown

0.47

2.89

-2.43

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGHY.L vs. GFGB.L - Sharpe Ratio Comparison

The current IGHY.L Sharpe Ratio is 0.10, which is lower than the GFGB.L Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of IGHY.L and GFGB.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

IGHY.LGFGB.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.10

0.57

-0.47

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.15

0.48

-0.63

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.04

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.20

0.64

-0.84

Correlation

The correlation between IGHY.L and GFGB.L is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

IGHY.L vs. GFGB.L - Dividend Comparison

IGHY.L's dividend yield for the trailing twelve months is around 0.06%, while GFGB.L has not paid dividends to shareholders.

TTM20252024202320222021202020192018201720162015
IGHY.L
iShares Global High Yield Corporate Bond UCITS ETF		0.06%0.05%0.05%0.05%0.04%0.04%0.05%0.05%0.05%0.05%0.05%0.05%
GFGB.L
VanEck Global Fallen Angel High Yield Bond UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

IGHY.L vs. GFGB.L - Drawdown Comparison

The maximum IGHY.L drawdown since its inception was -38.62%, which is greater than GFGB.L's maximum drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for IGHY.L and GFGB.L.

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Drawdown Indicators

IGHY.LGFGB.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.62%

-15.95%

-22.67%

Max Drawdown (1Y)

Largest decline over 1 year

-5.16%

-4.20%

-0.96%

Max Drawdown (5Y)

Largest decline over 5 years

-11.28%

-10.36%

-0.92%

Max Drawdown (10Y)

Largest decline over 10 years

-20.95%

—

—

Current Drawdown

Current decline from peak

-30.04%

-1.45%

-28.59%

Average Drawdown

Average peak-to-trough decline

-27.56%

-2.55%

-25.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.42%

1.38%

+0.04%

Volatility

IGHY.L vs. GFGB.L - Volatility Comparison

iShares Global High Yield Corporate Bond UCITS ETF (IGHY.L) has a higher volatility of 4.03% compared to VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFGB.L) at 2.07%. This indicates that IGHY.L's price experiences larger fluctuations and is considered to be riskier than GFGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IGHY.LGFGB.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.03%

2.07%

+1.96%

Volatility (6M)

Calculated over the trailing 6-month period

4.97%

4.54%

+0.43%

Volatility (1Y)

Calculated over the trailing 1-year period

6.46%

6.60%

-0.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.30%

7.66%

-0.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.15%

8.76%

+0.39%