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IHYA.L vs. SDHY.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IHYA.L vs. SDHY.L

Last updated Jun 5, 2026

IHYA.L (iShares USD High Yield Corporate Bond UCITS ETF USD (Acc)) and SDHY.L ( iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist) are both High Yield Bonds funds from iShares - IHYA.L tracks the Bloomberg US Corporate High Yield TR USD while SDHY.L tracks the Markit iBoxx USD Liquid High Yield 0-5 Capped Index. Both are passively managed. Over the past 5 years, IHYA.L returned 3.99%/yr vs 4.61%/yr for SDHY.L. Their correlation of 0.82 suggests significant overlap in exposure. IHYA.L charges 0.50%/yr vs 0.45%/yr for SDHY.L.

Performance

IHYA.L vs. SDHY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.L) and iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IHYA.L achieves a 1.10% return, which is significantly lower than SDHY.L's 1.43% 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*
—

SDHY.L

1D
0.13%
1M
0.07%
YTD
1.43%
6M
2.13%
1Y
6.97%
3Y*
7.61%
5Y*
4.61%
10Y*
4.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IHYA.L vs. SDHY.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
SDHY.L
iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist		1.43%8.90%6.50%8.75%-3.27%3.42%4.07%9.61%0.27%2.26%

Correlation

The correlation between IHYA.L and SDHY.L is 0.75, 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

0.75

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.84

Correlation (All Time)
Calculated using the full available price history since Apr 18, 2017

0.82

The correlation between IHYA.L and SDHY.L has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.

IHYA.L vs. SDHY.L - Sectors Allocation Comparison

Sectors
IHYA.L
SDHY.L

Utilities

83.6%
77.9%

Real Estate

16.4%
22.1%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

IHYA.L
83.6%
SDHY.L
77.9%

Real Estate

IHYA.L
16.4%
SDHY.L
22.1%

Basic Materials

IHYA.L

-

SDHY.L

-

Communication Services

IHYA.L

-

SDHY.L

-

Consumer Cyclical

IHYA.L

-

SDHY.L

-

Consumer Defensive

IHYA.L

-

SDHY.L

-

Energy

IHYA.L

-

SDHY.L

-

Financial Services

IHYA.L

-

SDHY.L

-

Healthcare

IHYA.L

-

SDHY.L

-

Industrials

IHYA.L

-

SDHY.L

-

Technology

IHYA.L

-

SDHY.L

-

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iShares USD High Yield Corporate Bond UCITS ETF USD (Acc)

iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist

Often compared with IHYA.L:
IHYA.L vs. HYGIHYA.L vs. XUHY.LIHYA.L vs. BRHYXIHYA.L vs. DHYA.LIHYA.L vs. SLXX.LIHYA.L vs. IS0R.DEIHYA.L vs. QQQ
Often compared with SDHY.L:
SDHY.L vs. JHYU.LSDHY.L vs. JNKS.LSDHY.L vs. STHE.LSDHY.L vs. EHYG.LSDHY.L vs. GLDSDHY.L vs. GHYU.LSDHY.L vs. JGYH.L

Return for Risk

IHYA.L vs. SDHY.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IHYA.L
IHYA.L Risk / Return Rank: 6161
Overall Rank
IHYA.L Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
IHYA.L Sortino Ratio Rank: 6767
Sortino Ratio Rank
IHYA.L Omega Ratio Rank: 6464
Omega Ratio Rank
IHYA.L Calmar Ratio Rank: 5050
Calmar Ratio Rank
IHYA.L Martin Ratio Rank: 6868
Martin Ratio Rank
SDHY.L
SDHY.L Risk / Return Rank: 7373
Overall Rank
SDHY.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
SDHY.L Sortino Ratio Rank: 7272
Sortino Ratio Rank
SDHY.L Omega Ratio Rank: 6666
Omega Ratio Rank
SDHY.L Calmar Ratio Rank: 7878
Calmar Ratio Rank
SDHY.L Martin Ratio Rank: 8585
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IHYA.L vs. SDHY.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 $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.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.LSDHY.LDifference
Sharpe ratioReturn per unit of total volatility
1.93
2.09

-0.16

Sortino ratioReturn per unit of downside risk
3.03
3.19

-0.16

Omega ratioGain probability vs. loss probability

1.38

1.39

-0.01

Calmar ratioReturn relative to maximum drawdown

2.45

3.91

-1.46

Martin ratioReturn relative to average drawdown

12.30

17.14

-4.83

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IHYA.L vs. SDHY.L - Sharpe Ratio Comparison

The current IHYA.L Sharpe Ratio is 1.93, which is comparable to the SDHY.L Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of IHYA.L and SDHY.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IHYA.LSDHY.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.93

2.09

-0.16

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.59

0.84

-0.26

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.78

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.56

0.69

-0.13

Drawdowns

IHYA.L vs. SDHY.L - Drawdown Comparison

The maximum IHYA.L drawdown since its inception was -22.58%, which is greater than SDHY.L's maximum drawdown of -18.94%. Use the drawdown chart below to compare losses from any high point for IHYA.L and SDHY.L.

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Drawdown Indicators

IHYA.LSDHY.LDifference

Max Drawdown

Largest peak-to-trough decline

-22.58%

-18.94%

-3.64%

Max Drawdown (1Y)

Largest decline over 1 year

-2.82%

-1.83%

-0.99%

Max Drawdown (3Y)

Largest decline over 3 years

-4.83%

-4.51%

-0.32%

Max Drawdown (5Y)

Largest decline over 5 years

-13.68%

-8.41%

-5.27%

Max Drawdown (10Y)

Largest decline over 10 years

—

-18.94%

—

Current Drawdown

Current decline from peak

-0.31%

-0.19%

-0.12%

Average Drawdown

Average peak-to-trough decline

-2.23%

-1.28%

-0.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.56%

0.42%

+0.14%

Volatility

IHYA.L vs. SDHY.L - Volatility Comparison

iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.L) has a higher volatility of 1.36% compared to iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.L) at 1.16%. This indicates that IHYA.L's price experiences larger fluctuations and is considered to be riskier than SDHY.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.LSDHY.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.36%

1.16%

+0.20%

Volatility (6M)

Calculated over the trailing 6-month period

2.87%

2.69%

+0.18%

Volatility (1Y)

Calculated over the trailing 1-year period

3.58%

3.43%

+0.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.81%

5.46%

+1.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.89%

6.33%

+1.56%

IHYA.L vs. SDHY.L - Expense Ratio Comparison

IHYA.L has a 0.50% expense ratio, which is higher than SDHY.L's 0.45% expense ratio.

Dividends

IHYA.L vs. SDHY.L - Dividend Comparison

IHYA.L has not paid dividends to shareholders, while SDHY.L's dividend yield for the trailing twelve months is around 8.31%.

PositionTTM20252024202320222021202020192018201720162015
IHYA.L
iShares USD High Yield Corporate Bond UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SDHY.L
iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist		8.31%6.59%6.41%5.64%4.31%4.24%4.80%5.26%5.48%5.42%5.68%5.05%

Frequently Asked Questions

IHYA.L and SDHY.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SDHY.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SDHY.L is cheaper with a 0.45% expense ratio, compared with 0.50% for IHYA.L.

IHYA.L tracks Bloomberg US Corporate High Yield TR USD, while SDHY.L tracks Markit iBoxx USD Liquid High Yield 0-5 Capped Index. Their fees differ too: 0.50% for IHYA.L and 0.45% for SDHY.L.

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