IHYA.L vs. HYGU.L
IHYA.L (iShares USD High Yield Corporate Bond UCITS ETF USD (Acc)) and HYGU.L (iShares € High Yield Corp Bond UCITS ETF) are both High Yield Bonds funds from iShares - IHYA.L tracks the Bloomberg US Corporate High Yield TR USD while HYGU.L tracks the iShares € High Yield Corp Bond UCITS ETF. Both are passively managed. Over the past 5 years, IHYA.L returned 3.90%/yr vs 4.58%/yr for HYGU.L. A 0.61 correlation means they provide meaningful diversification when combined. IHYA.L charges 0.50%/yr vs 0.55%/yr for HYGU.L.
Performance
IHYA.L vs. HYGU.L - Performance Comparison
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Returns By Period
In the year-to-date period, IHYA.L achieves a 1.76% return, which is significantly lower than HYGU.L's 2.18% 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*
- —
HYGU.L
- 1D
- -0.03%
- 1M
- 0.24%
- 6M
- 2.18%
- YTD
- 2.18%
- 1Y
- 5.22%
- 3Y*
- 8.18%
- 5Y*
- 4.58%
- 10Y*
- —
IHYA.L vs. HYGU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | -1.36% | 1.78% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 2.18% | 7.24% | 7.29% | 13.55% | -7.14% | 3.72% | 2.16% | 12.83% | -0.86% | 0.71% |
Correlation
The correlation between IHYA.L and HYGU.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | 0.61 |
The correlation between IHYA.L and HYGU.L has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.
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Return for Risk
IHYA.L vs. HYGU.L — Risk / Return Rank
IHYA.L
HYGU.L
IHYA.L vs. HYGU.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 € High Yield Corp Bond UCITS ETF (HYGU.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 | HYGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.33 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.00 | +0.25 |
| Martin ratioReturn relative to average drawdown | 11.11 | 8.61 | +2.50 |
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Drawdowns
IHYA.L vs. HYGU.L - Drawdown Comparison
The maximum IHYA.L drawdown since its inception was -22.58%, smaller than the maximum HYGU.L drawdown of -25.03%. Use the drawdown chart below to compare losses from any high point for IHYA.L and HYGU.L.
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Drawdown Indicators
| IHYA.L | HYGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.58% | -25.03% | +2.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -2.60% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -4.93% | -3.62% | -1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -13.68% | -13.61% | -0.07% |
Current DrawdownCurrent decline from peak | -0.13% | -0.16% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -2.19% | -2.06% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 0.61% | -0.04% |
Volatility
IHYA.L vs. HYGU.L - Volatility Comparison
iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.L) has a higher volatility of 0.80% compared to iShares € High Yield Corp Bond UCITS ETF (HYGU.L) at 0.62%. This indicates that IHYA.L's price experiences larger fluctuations and is considered to be riskier than HYGU.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 | HYGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 0.62% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.99% | 2.85% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 3.33% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.85% | 5.37% | +1.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.87% | 7.10% | +0.77% |
IHYA.L vs. HYGU.L - Expense Ratio Comparison
IHYA.L has a 0.50% expense ratio, which is lower than HYGU.L's 0.55% expense ratio.
Dividends
IHYA.L vs. HYGU.L - Dividend Comparison
Neither IHYA.L nor HYGU.L has paid dividends to shareholders.
Frequently Asked Questions
IHYA.L and HYGU.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IHYA.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IHYA.L is cheaper with a 0.50% expense ratio, compared with 0.55% for HYGU.L.
IHYA.L tracks Bloomberg US Corporate High Yield TR USD, while HYGU.L tracks iShares € High Yield Corp Bond UCITS ETF. Their fees differ too: 0.50% for IHYA.L and 0.55% for HYGU.L.
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