IHYA.L vs. FLOA.L
IHYA.L (iShares USD High Yield Corporate Bond UCITS ETF USD (Acc)) and FLOA.L (iShares USD Floating Rate Bond UCITS ETF USD (Acc)) are both exchange-traded funds - IHYA.L is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD, while FLOA.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, IHYA.L returned 3.88%/yr vs 4.32%/yr for FLOA.L. At a 0.14 correlation, their price movements are largely independent. IHYA.L charges 0.50%/yr vs 0.10%/yr for FLOA.L.
Performance
IHYA.L vs. FLOA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IHYA.L achieves a 1.36% return, which is significantly lower than FLOA.L's 2.33% return.
IHYA.L
- 1D
- 0.00%
- 1M
- 0.40%
- YTD
- 1.36%
- 6M
- 1.63%
- 1Y
- 6.10%
- 3Y*
- 8.48%
- 5Y*
- 3.88%
- 10Y*
- —
FLOA.L
- 1D
- 0.15%
- 1M
- 0.61%
- YTD
- 2.33%
- 6M
- 2.33%
- 1Y
- 4.94%
- 3Y*
- 5.65%
- 5Y*
- 4.32%
- 10Y*
- —
IHYA.L vs. FLOA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IHYA.L iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) | 1.36% | 9.50% | 6.98% | 10.62% | -8.87% | 3.72% | 5.07% | 12.66% | -0.59% |
FLOA.L iShares USD Floating Rate Bond UCITS ETF USD (Acc) | 2.33% | 4.89% | 6.42% | 6.65% | 1.35% | 0.42% | 0.86% | 4.17% | 1.01% |
Correlation
The correlation between IHYA.L and FLOA.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2018 | 0.14 |
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Return for Risk
IHYA.L vs. FLOA.L — Risk / Return Rank
IHYA.L
FLOA.L
IHYA.L vs. FLOA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.L) and iShares USD Floating Rate Bond UCITS ETF USD (Acc) (FLOA.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.
| IHYA.L | FLOA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 2.01 | -0.68 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 10.69 | -8.53 |
| Martin ratioReturn relative to average drawdown | 10.53 | 45.20 | -34.67 |
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Drawdowns
IHYA.L vs. FLOA.L - Drawdown Comparison
The maximum IHYA.L drawdown since its inception was -22.58%, which is greater than FLOA.L's maximum drawdown of -14.96%. Use the drawdown chart below to compare losses from any high point for IHYA.L and FLOA.L.
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Drawdown Indicators
| IHYA.L | FLOA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.58% | -14.96% | -7.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -0.46% | -2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -4.93% | -1.77% | -3.16% |
Max Drawdown (5Y)Largest decline over 5 years | -13.68% | -2.53% | -11.15% |
Current DrawdownCurrent decline from peak | -0.27% | 0.00% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -2.21% | -0.22% | -1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.11% | +0.47% |
Volatility
IHYA.L vs. FLOA.L - Volatility Comparison
iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.L) has a higher volatility of 0.98% compared to iShares USD Floating Rate Bond UCITS ETF USD (Acc) (FLOA.L) at 0.44%. This indicates that IHYA.L's price experiences larger fluctuations and is considered to be riskier than FLOA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IHYA.L | FLOA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.44% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 1.36% | +1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.66% | 1.61% | +2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.84% | 2.10% | +4.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.89% | 4.28% | +3.61% |
IHYA.L vs. FLOA.L - Expense Ratio Comparison
IHYA.L has a 0.50% expense ratio, which is higher than FLOA.L's 0.10% expense ratio.
Dividends
IHYA.L vs. FLOA.L - Dividend Comparison
Neither IHYA.L nor FLOA.L has paid dividends to shareholders.
Frequently Asked Questions
IHYA.L and FLOA.L have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLOA.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLOA.L is cheaper with a 0.10% expense ratio, compared with 0.50% for IHYA.L.
IHYA.L is categorized as High Yield Bonds, while FLOA.L is Corporate Bonds. IHYA.L tracks Bloomberg US Corporate High Yield TR USD, while FLOA.L tracks Bloomberg US Corp Bond TR USD. Their fees differ too: 0.50% for IHYA.L and 0.10% for FLOA.L.
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