IHYE.L vs. HYGB.L
IHYE.L (iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist)) and HYGB.L (VanEck Emerging Markets High Yield Bond UCITS ETF) are both High Yield Bonds funds - IHYE.L tracks the iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) while HYGB.L tracks the VanEck Emerging Markets High Yield Bond UCITS ETF. Both are passively managed. Over the past 5 years, IHYE.L returned 1.67%/yr vs 3.49%/yr for HYGB.L. At a correlation of -0.06, they often move in opposite directions. IHYE.L charges 0.55%/yr vs 0.40%/yr for HYGB.L.
Performance
IHYE.L vs. HYGB.L - Performance Comparison
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Different Trading Currencies
IHYE.L is traded in EUR, while HYGB.L is traded in GBP. To make them comparable, the HYGB.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IHYE.L achieves a 1.01% return, which is significantly lower than HYGB.L's 6.51% 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*
- —
HYGB.L
- 1D
- 0.11%
- 1M
- 1.43%
- 6M
- 5.17%
- YTD
- 6.51%
- 1Y
- 10.11%
- 3Y*
- 8.89%
- 5Y*
- 3.49%
- 10Y*
- —
IHYE.L vs. HYGB.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% | -2.84% |
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF | 6.51% | -3.74% | 19.21% | 3.81% | -7.55% | 7.13% | -3.64% | 18.06% | -25.42% |
Correlation
The correlation between IHYE.L and HYGB.L is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | -0.06 |
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Return for Risk
IHYE.L vs. HYGB.L — Risk / Return Rank
IHYE.L
HYGB.L
IHYE.L vs. HYGB.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 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.
| IHYE.L | HYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.29 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 3.78 | -2.20 |
| Martin ratioReturn relative to average drawdown | 6.44 | 9.86 | -3.42 |
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Drawdowns
IHYE.L vs. HYGB.L - Drawdown Comparison
The maximum IHYE.L drawdown since its inception was -22.54%, smaller than the maximum HYGB.L drawdown of -30.21%. Use the drawdown chart below to compare losses from any high point for IHYE.L and HYGB.L.
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Drawdown Indicators
| IHYE.L | HYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.54% | -30.21% | +7.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -2.66% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -4.70% | -12.15% | +7.45% |
Max Drawdown (5Y)Largest decline over 5 years | -15.54% | -22.82% | +7.28% |
Current DrawdownCurrent decline from peak | 0.00% | -0.50% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -14.58% | +11.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 1.02% | -0.34% |
Volatility
IHYE.L vs. HYGB.L - Volatility Comparison
The current volatility for iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IHYE.L) is 0.79%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HYGB.L) has a volatility of 1.60%. This indicates that IHYE.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
| IHYE.L | HYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 1.60% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 4.67% | -1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.78% | 6.38% | -2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.81% | 18.14% | -11.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.12% | 17.29% | -9.17% |
IHYE.L vs. HYGB.L - Expense Ratio Comparison
IHYE.L has a 0.55% expense ratio, which is higher than HYGB.L's 0.40% expense ratio.
Dividends
IHYE.L vs. HYGB.L - Dividend Comparison
IHYE.L's dividend yield for the trailing twelve months is around 6.19%, while HYGB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HYGB.L VanEck Emerging Markets High Yield 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 HYGB.L have a correlation of -0.12, 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 0.55% for IHYE.L.
IHYE.L tracks iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist), 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: 0.55% for IHYE.L and 0.40% for HYGB.L.
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