IHHG.L vs. V3GP.L
IHHG.L (iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) and V3GP.L (Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing) are both exchange-traded funds - IHHG.L is a Corporate Bonds fund tracking the iBoxx USD Liquid High Yield Capped (USD), while V3GP.L is a Global Corporate Bonds fund tracking the Bloomberg Gbl Agg Corp TR Hdg GBP. Both are passively managed. Over the past 5 years, IHHG.L returned 3.11%/yr vs 0.19%/yr for V3GP.L. A 0.52 correlation means they provide meaningful diversification when combined. IHHG.L charges 0.55%/yr vs 0.15%/yr for V3GP.L.
Performance
IHHG.L vs. V3GP.L - Performance Comparison
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Returns By Period
In the year-to-date period, IHHG.L achieves a 1.59% return, which is significantly higher than V3GP.L's 0.39% return.
IHHG.L
- 1D
- -0.23%
- 1M
- 0.23%
- 6M
- 1.12%
- YTD
- 1.59%
- 1Y
- 5.78%
- 3Y*
- 7.40%
- 5Y*
- 3.11%
- 10Y*
- —
V3GP.L
- 1D
- 0.23%
- 1M
- -0.49%
- 6M
- 0.30%
- YTD
- 0.39%
- 1Y
- 3.62%
- 3Y*
- 4.98%
- 5Y*
- 0.19%
- 10Y*
- —
IHHG.L vs. V3GP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IHHG.L iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.59% | 9.03% | 6.38% | 9.77% | -10.41% | 2.44% |
V3GP.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing | 0.39% | 6.28% | 3.50% | 7.55% | -14.46% | 1.52% |
Correlation
The correlation between IHHG.L and V3GP.L is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since May 20, 2021 | 0.52 |
The correlation between IHHG.L and V3GP.L has been stable across timeframes, ranging from 0.52 to 0.56 - a consistent structural relationship.
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Return for Risk
IHHG.L vs. V3GP.L — Risk / Return Rank
IHHG.L
V3GP.L
IHHG.L vs. V3GP.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 Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing (V3GP.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 | V3GP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.19 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 1.39 | +0.88 |
| Martin ratioReturn relative to average drawdown | 10.12 | 4.49 | +5.63 |
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Drawdowns
IHHG.L vs. V3GP.L - Drawdown Comparison
The maximum IHHG.L drawdown since its inception was -23.51%, which is greater than V3GP.L's maximum drawdown of -20.08%. Use the drawdown chart below to compare losses from any high point for IHHG.L and V3GP.L.
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Drawdown Indicators
| IHHG.L | V3GP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.51% | -20.08% | -3.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.54% | -2.60% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -4.38% | -3.67% | -0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -14.78% | -20.08% | +5.30% |
Current DrawdownCurrent decline from peak | -0.23% | -0.82% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -7.55% | +4.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 0.81% | -0.24% |
Volatility
IHHG.L vs. V3GP.L - Volatility Comparison
The current volatility for iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (IHHG.L) is 0.79%, while Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing (V3GP.L) has a volatility of 0.89%. This indicates that IHHG.L experiences smaller price fluctuations and is considered to be less risky than V3GP.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 | V3GP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 0.89% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.83% | 2.86% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 3.72% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 5.53% | +1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.01% | 5.48% | +2.53% |
IHHG.L vs. V3GP.L - Expense Ratio Comparison
IHHG.L has a 0.55% expense ratio, which is higher than V3GP.L's 0.15% expense ratio.
Dividends
IHHG.L vs. V3GP.L - Dividend Comparison
IHHG.L's dividend yield for the trailing twelve months is around 6.15%, more than V3GP.L's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
V3GP.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing | 4.32% | 4.43% | 4.36% | 4.10% | 2.48% | 0.71% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IHHG.L and V3GP.L have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, V3GP.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
V3GP.L is cheaper with a 0.15% expense ratio, compared with 0.55% for IHHG.L.
IHHG.L is categorized as Corporate Bonds, while V3GP.L is Global Corporate Bonds. IHHG.L tracks iBoxx USD Liquid High Yield Capped (USD), while V3GP.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.55% for IHHG.L and 0.15% for V3GP.L.
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