IHYE.L vs. HYEA.L
IHYE.L (iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist)) and HYEA.L (iShares Global High Yield Corporate Bond UCITS ETF) are both High Yield Bonds funds from iShares - IHYE.L tracks the iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) while HYEA.L tracks the ICE BofA Gbl HY Constnd TR USD. Both are passively managed. Over the past 5 years, IHYE.L returned 1.67%/yr vs 3.75%/yr for HYEA.L. A 0.52 correlation means they provide meaningful diversification when combined. IHYE.L charges 0.55%/yr vs 0.50%/yr for HYEA.L.
Performance
IHYE.L vs. HYEA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IHYE.L achieves a 1.01% return, which is significantly lower than HYEA.L's 3.05% return.
IHYE.L
- 1D
- 0.03%
- 1M
- 0.03%
- 6M
- 0.50%
- YTD
- 1.01%
- 1Y
- 4.16%
- 3Y*
- 5.96%
- 5Y*
- 1.67%
- 10Y*
- —
HYEA.L
- 1D
- 0.00%
- 1M
- 0.90%
- 6M
- 2.38%
- YTD
- 3.05%
- 1Y
- 5.75%
- 3Y*
- 6.96%
- 5Y*
- 3.75%
- 10Y*
- —
IHYE.L vs. HYEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IHYE.L iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) | 1.01% | 6.77% | 5.11% | 8.05% | -11.60% | 2.86% | 3.05% | 9.11% | -3.03% |
HYEA.L iShares Global High Yield Corporate Bond UCITS ETF | 3.05% | 1.53% | 9.22% | 9.21% | -6.45% | 8.26% | -1.76% | 14.15% | 3.31% |
Correlation
The correlation between IHYE.L and HYEA.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2018 | 0.52 |
Over the past year, the correlation between IHYE.L and HYEA.L has dropped to 0.29 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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Return for Risk
IHYE.L vs. HYEA.L — Risk / Return Rank
IHYE.L
HYEA.L
IHYE.L vs. HYEA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IHYE.L) and iShares Global High Yield Corporate Bond UCITS ETF (HYEA.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.
| IHYE.L | HYEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.30 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 3.05 | -1.46 |
| Martin ratioReturn relative to average drawdown | 6.44 | 11.25 | -4.80 |
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Drawdowns
IHYE.L vs. HYEA.L - Drawdown Comparison
The maximum IHYE.L drawdown since its inception was -22.54%, roughly equal to the maximum HYEA.L drawdown of -22.83%. Use the drawdown chart below to compare losses from any high point for IHYE.L and HYEA.L.
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Drawdown Indicators
| IHYE.L | HYEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.54% | -22.83% | +0.29% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -1.89% | -0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -4.70% | -6.63% | +1.93% |
Max Drawdown (5Y)Largest decline over 5 years | -15.54% | -9.74% | -5.80% |
Current DrawdownCurrent decline from peak | 0.00% | -0.48% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -5.34% | +1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.51% | +0.17% |
Volatility
IHYE.L vs. HYEA.L - Volatility Comparison
The current volatility for iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IHYE.L) is 0.79%, while iShares Global High Yield Corporate Bond UCITS ETF (HYEA.L) has a volatility of 1.40%. This indicates that IHYE.L experiences smaller price fluctuations and is considered to be less risky than HYEA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IHYE.L | HYEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 1.40% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 2.59% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.78% | 3.53% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.81% | 5.45% | +1.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.12% | 8.49% | -0.37% |
IHYE.L vs. HYEA.L - Expense Ratio Comparison
IHYE.L has a 0.55% expense ratio, which is higher than HYEA.L's 0.50% expense ratio.
Dividends
IHYE.L vs. HYEA.L - Dividend Comparison
IHYE.L's dividend yield for the trailing twelve months is around 6.19%, while HYEA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HYEA.L iShares Global High Yield Corporate Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IHYE.L iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) | 6.19% | 6.07% | 6.32% | 5.59% | 5.13% | 4.35% | 4.82% | 5.59% | 3.88% |
Frequently Asked Questions
IHYE.L and HYEA.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYEA.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYEA.L is cheaper with a 0.50% expense ratio, compared with 0.55% for IHYE.L.
IHYE.L tracks iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist), while HYEA.L tracks ICE BofA Gbl HY Constnd TR USD. Their fees differ too: 0.55% for IHYE.L and 0.50% for HYEA.L.
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