IHYA.L vs. HYGB.L
IHYA.L (iShares USD High Yield Corporate Bond UCITS ETF USD (Acc)) and HYGB.L (VanEck Emerging Markets High Yield Bond UCITS ETF) are both High Yield Bonds funds - IHYA.L tracks the Bloomberg US Corporate High Yield TR USD while HYGB.L tracks the VanEck Emerging Markets High Yield Bond UCITS ETF. Both are passively managed. Over the past 5 years, IHYA.L returned 3.90%/yr vs 2.90%/yr for HYGB.L. At a 0.17 correlation, their price movements are largely independent. IHYA.L charges 0.50%/yr vs 0.40%/yr for HYGB.L.
Performance
IHYA.L vs. HYGB.L - Performance Comparison
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Different Trading Currencies
IHYA.L is traded in USD, while HYGB.L is traded in GBP. To make them comparable, the HYGB.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IHYA.L achieves a 1.76% return, which is significantly lower than HYGB.L's 4.01% return.
IHYA.L
- 1D
- 0.13%
- 1M
- 0.13%
- 6M
- 1.49%
- YTD
- 1.76%
- 1Y
- 6.37%
- 3Y*
- 7.95%
- 5Y*
- 3.90%
- 10Y*
- —
HYGB.L
- 1D
- 0.58%
- 1M
- 0.40%
- 6M
- 3.60%
- YTD
- 4.01%
- 1Y
- 8.89%
- 3Y*
- 10.43%
- 5Y*
- 2.90%
- 10Y*
- —
IHYA.L vs. HYGB.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) | 1.76% | 9.50% | 6.98% | 10.62% | -8.87% | 3.72% | 5.07% | 12.66% | -0.39% |
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF | 4.01% | 9.22% | 11.83% | 7.02% | -12.94% | -0.32% | 5.02% | 15.45% | -30.18% |
Correlation
The correlation between IHYA.L and HYGB.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.17 |
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Return for Risk
IHYA.L vs. HYGB.L — Risk / Return Rank
IHYA.L
HYGB.L
IHYA.L vs. HYGB.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 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.
| IHYA.L | HYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.32 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 3.04 | -0.79 |
| Martin ratioReturn relative to average drawdown | 11.11 | 13.36 | -2.25 |
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Drawdowns
IHYA.L vs. HYGB.L - Drawdown Comparison
The maximum IHYA.L drawdown since its inception was -22.58%, smaller than the maximum HYGB.L drawdown of -37.51%. Use the drawdown chart below to compare losses from any high point for IHYA.L and HYGB.L.
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Drawdown Indicators
| IHYA.L | HYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.58% | -37.51% | +14.93% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -2.91% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -4.93% | -4.72% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -13.68% | -25.04% | +11.36% |
Current DrawdownCurrent decline from peak | -0.13% | -3.08% | +2.95% |
Average DrawdownAverage peak-to-trough decline | -2.19% | -21.20% | +19.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 0.66% | -0.09% |
Volatility
IHYA.L vs. HYGB.L - Volatility Comparison
The current volatility for iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.L) is 0.80%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HYGB.L) has a volatility of 1.59%. This indicates that IHYA.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
| IHYA.L | HYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 1.59% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 2.99% | 4.63% | -1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 5.32% | -1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.85% | 17.85% | -11.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.87% | 17.18% | -9.31% |
IHYA.L vs. HYGB.L - Expense Ratio Comparison
IHYA.L has a 0.50% expense ratio, which is higher than HYGB.L's 0.40% expense ratio.
Dividends
IHYA.L vs. HYGB.L - Dividend Comparison
Neither IHYA.L nor HYGB.L has paid dividends to shareholders.
Frequently Asked Questions
IHYA.L and HYGB.L have a correlation of 0.13, 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 0.50% for IHYA.L.
IHYA.L tracks Bloomberg US Corporate High Yield TR USD, 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: 0.50% for IHYA.L and 0.40% for HYGB.L.
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