IHHG.L vs. HYGB.L
IHHG.L (iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) and HYGB.L (VanEck Emerging Markets High Yield Bond UCITS ETF) are both High Yield Bonds funds - IHHG.L tracks the iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) while HYGB.L tracks the VanEck Emerging Markets High Yield Bond UCITS ETF. Both are passively managed. Over the past 5 years, IHHG.L returned 3.13%/yr vs 3.23%/yr for HYGB.L. At a correlation of -0.11, they often move in opposite directions. IHHG.L charges 0.55%/yr vs 0.40%/yr for HYGB.L.
Performance
IHHG.L vs. HYGB.L - Performance Comparison
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Returns By Period
In the year-to-date period, IHHG.L achieves a 1.69% return, which is significantly lower than HYGB.L's 3.41% return.
IHHG.L
- 1D
- 0.10%
- 1M
- 0.10%
- 6M
- 1.46%
- YTD
- 1.69%
- 1Y
- 5.89%
- 3Y*
- 7.61%
- 5Y*
- 3.13%
- 10Y*
- —
HYGB.L
- 1D
- -0.56%
- 1M
- -0.50%
- 6M
- 2.88%
- YTD
- 3.41%
- 1Y
- 7.65%
- 3Y*
- 8.57%
- 5Y*
- 3.23%
- 10Y*
- —
IHHG.L vs. HYGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IHHG.L iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.69% | 9.03% | 6.38% | 9.77% | -10.41% | 3.44% | 2.55% | 10.54% | -1.67% |
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF | 3.41% | 1.56% | 13.72% | 1.66% | -2.52% | 0.59% | 1.90% | 10.99% | -23.28% |
Correlation
The correlation between IHHG.L and HYGB.L is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2018 | -0.11 |
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Return for Risk
IHHG.L vs. HYGB.L — Risk / Return Rank
IHHG.L
HYGB.L
IHHG.L vs. HYGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (IHHG.L) and VanEck Emerging Markets High Yield Bond UCITS ETF (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.
| IHHG.L | HYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.21 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.30 | +0.10 |
| Martin ratioReturn relative to average drawdown | 10.74 | 5.91 | +4.83 |
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Drawdowns
IHHG.L vs. HYGB.L - Drawdown Comparison
The maximum IHHG.L drawdown since its inception was -23.51%, smaller than the maximum HYGB.L drawdown of -26.72%. Use the drawdown chart below to compare losses from any high point for IHHG.L and HYGB.L.
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Drawdown Indicators
| IHHG.L | HYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.51% | -26.72% | +3.21% |
Max Drawdown (1Y)Largest decline over 1 year | -2.54% | -3.31% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -4.38% | -8.96% | +4.58% |
Max Drawdown (5Y)Largest decline over 5 years | -14.78% | -23.02% | +8.24% |
Current DrawdownCurrent decline from peak | 0.00% | -2.23% | +2.23% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -14.29% | +11.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 1.29% | -0.72% |
Volatility
IHHG.L vs. HYGB.L - Volatility Comparison
The current volatility for iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (IHHG.L) is 0.72%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HYGB.L) has a volatility of 1.95%. This indicates that IHHG.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
| IHHG.L | HYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 1.95% | -1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 4.98% | -2.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 6.52% | -2.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 18.19% | -11.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.01% | 17.41% | -9.40% |
IHHG.L vs. HYGB.L - Expense Ratio Comparison
IHHG.L has a 0.55% expense ratio, which is higher than HYGB.L's 0.40% expense ratio.
Dividends
IHHG.L vs. HYGB.L - Dividend Comparison
IHHG.L's dividend yield for the trailing twelve months is around 6.15%, while HYGB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IHHG.L iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 6.15% | 6.06% | 6.23% | 5.55% | 5.21% | 4.25% | 4.89% | 5.47% | 3.58% |
Frequently Asked Questions
IHHG.L and HYGB.L have a correlation of -0.17, 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 0.55% for IHHG.L.
IHHG.L tracks iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist), while HYGB.L tracks VanEck Emerging Markets High Yield Bond UCITS ETF. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.55% for IHHG.L and 0.40% for HYGB.L.
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