IHYA.L vs. IUAA.L
IHYA.L (iShares USD High Yield Corporate Bond UCITS ETF USD (Acc)) and IUAA.L (iShares US Aggregate 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 IUAA.L is a Total Bond Market fund tracking the Bloomberg US Aggregate Bond Index. Both are passively managed. Over the past 5 years, IHYA.L returned 3.99%/yr vs -0.05%/yr for IUAA.L. At a 0.28 correlation, their price movements are largely independent. IHYA.L charges 0.50%/yr vs 0.25%/yr for IUAA.L.
Performance
IHYA.L vs. IUAA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IHYA.L achieves a 1.10% return, which is significantly higher than IUAA.L's -0.10% return.
IHYA.L
- 1D
- 0.09%
- 1M
- -0.11%
- YTD
- 1.10%
- 6M
- 1.70%
- 1Y
- 6.95%
- 3Y*
- 8.29%
- 5Y*
- 3.99%
- 10Y*
- —
IUAA.L
- 1D
- 0.33%
- 1M
- -0.17%
- YTD
- -0.10%
- 6M
- 0.60%
- 1Y
- 4.62%
- 3Y*
- 3.74%
- 5Y*
- -0.05%
- 10Y*
- —
IHYA.L vs. IUAA.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) | 1.10% | 9.49% | 6.98% | 10.64% | -8.87% | 3.72% | 5.07% | 12.63% | -1.30% | 2.90% |
IUAA.L iShares US Aggregate Bond UCITS ETF USD Acc | -0.10% | 7.27% | 1.28% | 4.87% | -12.82% | -2.02% | 7.08% | 8.70% | -0.38% | 1.62% |
Correlation
The correlation between IHYA.L and IUAA.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017 | 0.28 |
Over the past year, IHYA.L and IUAA.L have become more correlated (0.60) than their long-term average of 0.28, meaning their price movements have been converging.
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Return for Risk
IHYA.L vs. IUAA.L — Risk / Return Rank
IHYA.L
IUAA.L
IHYA.L vs. IUAA.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 US Aggregate Bond UCITS ETF USD Acc (IUAA.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.
| IHYA.L | IUAA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.21 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 1.53 | +0.92 |
| Martin ratioReturn relative to average drawdown | 12.30 | 4.92 | +7.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IHYA.L | IUAA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.93 | 1.19 | +0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | -0.01 | +0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.28 | +0.28 |
Drawdowns
IHYA.L vs. IUAA.L - Drawdown Comparison
The maximum IHYA.L drawdown since its inception was -22.58%, which is greater than IUAA.L's maximum drawdown of -19.02%. Use the drawdown chart below to compare losses from any high point for IHYA.L and IUAA.L.
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Drawdown Indicators
| IHYA.L | IUAA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.58% | -19.02% | -3.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -3.03% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -4.83% | -5.90% | +1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -13.68% | -18.11% | +4.43% |
Current DrawdownCurrent decline from peak | -0.31% | -3.38% | +3.07% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -5.58% | +3.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.95% | -0.39% |
Volatility
IHYA.L vs. IUAA.L - Volatility Comparison
The current volatility for iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.L) is 1.36%, while iShares US Aggregate Bond UCITS ETF USD Acc (IUAA.L) has a volatility of 1.61%. This indicates that IHYA.L experiences smaller price fluctuations and is considered to be less risky than IUAA.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 | IUAA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.61% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 2.95% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 3.91% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.81% | 5.99% | +0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.89% | 5.30% | +2.59% |
IHYA.L vs. IUAA.L - Expense Ratio Comparison
IHYA.L has a 0.50% expense ratio, which is higher than IUAA.L's 0.25% expense ratio.
Dividends
IHYA.L vs. IUAA.L - Dividend Comparison
Neither IHYA.L nor IUAA.L has paid dividends to shareholders.
Frequently Asked Questions
IHYA.L and IUAA.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUAA.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUAA.L is cheaper with a 0.25% expense ratio, compared with 0.50% for IHYA.L.
IHYA.L is categorized as High Yield Bonds, while IUAA.L is Total Bond Market. IHYA.L tracks Bloomberg US Corporate High Yield TR USD, while IUAA.L tracks Bloomberg US Aggregate Bond Index. Their fees differ too: 0.50% for IHYA.L and 0.25% for IUAA.L.
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