IGHY.L vs. IEMB.L
IGHY.L (iShares Global High Yield Corporate Bond UCITS ETF) and IEMB.L (iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist)) are both exchange-traded funds - IGHY.L is a High Yield Bonds fund tracking the ICE BofA Gbl HY Constnd TR USD, while IEMB.L is a Emerging Markets Bonds fund managed by iShares. Over the past 10 years, IGHY.L returned 0.37%/yr vs 4.09%/yr for IEMB.L. A 0.66 correlation means they provide meaningful diversification when combined. IGHY.L charges 0.50%/yr vs 0.45%/yr for IEMB.L.
Performance
IGHY.L vs. IEMB.L - Performance Comparison
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Different Trading Currencies
IGHY.L is traded in GBP, while IEMB.L is traded in USD. To make them comparable, the IEMB.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGHY.L achieves a -2.13% return, which is significantly lower than IEMB.L's 2.04% return. Over the past 10 years, IGHY.L has underperformed IEMB.L with an annualized return of 0.37%, while IEMB.L has yielded a comparatively higher 4.09% annualized return.
IGHY.L
- 1D
- 0.16%
- 1M
- 1.11%
- YTD
- -2.13%
- 6M
- -1.93%
- 1Y
- 1.29%
- 3Y*
- 0.50%
- 5Y*
- -0.88%
- 10Y*
- 0.37%
IEMB.L
- 1D
- 0.41%
- 1M
- 1.93%
- YTD
- 2.04%
- 6M
- 1.52%
- 1Y
- 12.28%
- 3Y*
- 6.96%
- 5Y*
- 3.01%
- 10Y*
- 4.09%
IGHY.L vs. IEMB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGHY.L iShares Global High Yield Corporate Bond UCITS ETF | -2.13% | 1.20% | -1.38% | 1.98% | -5.02% | -3.21% | -0.41% | 3.09% | -2.90% | -4.78% |
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 2.04% | 5.61% | 7.55% | 5.01% | -8.65% | -1.35% | 2.47% | 11.65% | 0.08% | 0.25% |
Correlation
The correlation between IGHY.L and IEMB.L is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2012 | 0.66 |
The correlation between IGHY.L and IEMB.L shifts across timeframes, from 0.55 (1 year) to 0.66 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGHY.L vs. IEMB.L — Risk / Return Rank
IGHY.L
IEMB.L
IGHY.L vs. IEMB.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 iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.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.L | IEMB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.30 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | 2.79 | -2.54 |
| Martin ratioReturn relative to average drawdown | 0.64 | 8.29 | -7.65 |
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
| IGHY.L | IEMB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.21 | 1.70 | -1.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.12 | 0.32 | -0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.04 | 0.37 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.19 | 0.58 | -0.77 |
Drawdowns
IGHY.L vs. IEMB.L - Drawdown Comparison
The maximum IGHY.L drawdown since its inception was -38.62%, which is greater than IEMB.L's maximum drawdown of -23.09%. Use the drawdown chart below to compare losses from any high point for IGHY.L and IEMB.L.
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Drawdown Indicators
| IGHY.L | IEMB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.62% | -23.09% | -15.53% |
Max Drawdown (1Y)Largest decline over 1 year | -5.16% | -4.38% | -0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -6.33% | -9.30% | +2.97% |
Max Drawdown (5Y)Largest decline over 5 years | -11.28% | -14.68% | +3.40% |
Max Drawdown (10Y)Largest decline over 10 years | -20.95% | -19.06% | -1.89% |
Current DrawdownCurrent decline from peak | -29.35% | 0.00% | -29.35% |
Average DrawdownAverage peak-to-trough decline | -27.58% | -6.04% | -21.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 1.48% | +0.52% |
Volatility
IGHY.L vs. IEMB.L - Volatility Comparison
The current volatility for iShares Global High Yield Corporate Bond UCITS ETF (IGHY.L) is 1.33%, while iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) has a volatility of 2.49%. This indicates that IGHY.L experiences smaller price fluctuations and is considered to be less risky than IEMB.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.L | IEMB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 2.49% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 4.95% | 5.86% | -0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.24% | 7.21% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.25% | 9.50% | -2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.12% | 11.12% | -2.00% |
IGHY.L vs. IEMB.L - Expense Ratio Comparison
IGHY.L has a 0.50% expense ratio, which is higher than IEMB.L's 0.45% expense ratio.
Dividends
IGHY.L vs. IEMB.L - Dividend Comparison
IGHY.L's dividend yield for the trailing twelve months is around 0.06%, less than IEMB.L's 5.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 5.83% | 5.85% | 5.80% | 5.65% | 5.55% | 3.95% | 3.86% | 4.73% | 4.82% | 4.79% | 5.57% | 4.78% |
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% |
Frequently Asked Questions
IGHY.L and IEMB.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEMB.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEMB.L is cheaper with a 0.45% expense ratio, compared with 0.50% for IGHY.L.
IGHY.L is categorized as High Yield Bonds, while IEMB.L is Emerging Markets Bonds. Their fees differ too: 0.50% for IGHY.L and 0.45% for IEMB.L.
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