IGHY.L vs. MXWO.L
IGHY.L (iShares Global High Yield Corporate Bond UCITS ETF) and MXWO.L (Invesco MSCI World UCITS ETF) are both exchange-traded funds - IGHY.L is a High Yield Bonds fund tracking the ICE BofA Gbl HY Constnd TR USD, while MXWO.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, IGHY.L returned 0.37%/yr vs 13.96%/yr for MXWO.L. At a 0.49 correlation, their price movements are largely independent. IGHY.L charges 0.50%/yr vs 0.19%/yr for MXWO.L.
Performance
IGHY.L vs. MXWO.L - Performance Comparison
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Different Trading Currencies
IGHY.L is traded in GBP, while MXWO.L is traded in USD. To make them comparable, the MXWO.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 MXWO.L's 10.44% return. Over the past 10 years, IGHY.L has underperformed MXWO.L with an annualized return of 0.37%, while MXWO.L has yielded a comparatively higher 13.96% 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%
MXWO.L
- 1D
- 0.04%
- 1M
- 5.16%
- YTD
- 10.44%
- 6M
- 10.33%
- 1Y
- 27.36%
- 3Y*
- 17.83%
- 5Y*
- 13.13%
- 10Y*
- 13.96%
IGHY.L vs. MXWO.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% |
MXWO.L Invesco MSCI World UCITS ETF | 10.44% | 12.22% | 21.28% | 18.33% | -8.34% | 23.27% | 12.86% | 22.56% | -3.69% | 12.17% |
Correlation
The correlation between IGHY.L and MXWO.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2012 | 0.49 |
The correlation between IGHY.L and MXWO.L shifts across timeframes, from 0.36 (1 year) to 0.50 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGHY.L vs. MXWO.L — Risk / Return Rank
IGHY.L
MXWO.L
IGHY.L vs. MXWO.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 Invesco MSCI World UCITS ETF (MXWO.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 | MXWO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.15 | ||
| Sortino ratioReturn per unit of downside risk | -2.97 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.44 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | 4.18 | -3.93 |
| Martin ratioReturn relative to average drawdown | 0.64 | 15.92 | -15.27 |
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 | MXWO.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.21 | 2.36 | -2.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.12 | 0.90 | -1.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.04 | 0.90 | -0.86 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.19 | 0.95 | -1.14 |
Drawdowns
IGHY.L vs. MXWO.L - Drawdown Comparison
The maximum IGHY.L drawdown since its inception was -38.62%, which is greater than MXWO.L's maximum drawdown of -25.97%. Use the drawdown chart below to compare losses from any high point for IGHY.L and MXWO.L.
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Drawdown Indicators
| IGHY.L | MXWO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.62% | -25.97% | -12.65% |
Max Drawdown (1Y)Largest decline over 1 year | -5.16% | -6.51% | +1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -6.33% | -19.17% | +12.84% |
Max Drawdown (5Y)Largest decline over 5 years | -11.28% | -19.17% | +7.89% |
Max Drawdown (10Y)Largest decline over 10 years | -20.95% | -25.97% | +5.02% |
Current DrawdownCurrent decline from peak | -29.35% | -0.10% | -29.25% |
Average DrawdownAverage peak-to-trough decline | -27.58% | -3.33% | -24.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 1.71% | +0.29% |
Volatility
IGHY.L vs. MXWO.L - Volatility Comparison
The current volatility for iShares Global High Yield Corporate Bond UCITS ETF (IGHY.L) is 1.33%, while Invesco MSCI World UCITS ETF (MXWO.L) has a volatility of 3.35%. This indicates that IGHY.L experiences smaller price fluctuations and is considered to be less risky than MXWO.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 | MXWO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 3.35% | -2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 4.95% | 8.84% | -3.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.24% | 11.54% | -5.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.25% | 14.58% | -7.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.12% | 15.55% | -6.43% |
IGHY.L vs. MXWO.L - Expense Ratio Comparison
IGHY.L has a 0.50% expense ratio, which is higher than MXWO.L's 0.19% expense ratio.
Dividends
IGHY.L vs. MXWO.L - Dividend Comparison
IGHY.L's dividend yield for the trailing twelve months is around 0.06%, while MXWO.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MXWO.L Invesco MSCI World 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% |
Frequently Asked Questions
IGHY.L and MXWO.L have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MXWO.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MXWO.L is cheaper with a 0.19% expense ratio, compared with 0.50% for IGHY.L.
IGHY.L is categorized as High Yield Bonds, while MXWO.L is Global Equities. IGHY.L tracks ICE BofA Gbl HY Constnd TR USD, while MXWO.L tracks MSCI ACWI NR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.50% for IGHY.L and 0.19% for MXWO.L.
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