IHYE.L vs. HYGU.L
IHYE.L (iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist)) and HYGU.L (iShares € High Yield Corp 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 HYGU.L tracks the iShares € High Yield Corp Bond UCITS ETF. Both are passively managed. Over the past 5 years, IHYE.L returned 1.67%/yr vs 5.19%/yr for HYGU.L. At a 0.19 correlation, their price movements are largely independent. Both charge a 0.55% expense ratio.
Performance
IHYE.L vs. HYGU.L - Performance Comparison
Loading charts...
Different Trading Currencies
IHYE.L is traded in EUR, while HYGU.L is traded in USD. To make them comparable, the HYGU.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 HYGU.L's 4.65% 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*
- —
HYGU.L
- 1D
- 0.00%
- 1M
- 1.30%
- 6M
- 3.75%
- YTD
- 4.65%
- 1Y
- 6.43%
- 3Y*
- 7.44%
- 5Y*
- 5.19%
- 10Y*
- —
IHYE.L vs. HYGU.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% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 4.65% | -5.49% | 14.37% | 10.15% | -1.38% | 11.48% | -6.26% | 15.37% | 7.18% |
Correlation
The correlation between IHYE.L and HYGU.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2018 | 0.19 |
The correlation between IHYE.L and HYGU.L shifts across timeframes, from 0.07 (3 years) to 0.19 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IHYE.L vs. HYGU.L — Risk / Return Rank
IHYE.L
HYGU.L
IHYE.L vs. HYGU.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 € 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.
| IHYE.L | HYGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.19 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 2.02 | -0.43 |
| Martin ratioReturn relative to average drawdown | 6.44 | 5.23 | +1.21 |
Loading charts...
Drawdowns
IHYE.L vs. HYGU.L - Drawdown Comparison
The maximum IHYE.L drawdown since its inception was -22.54%, smaller than the maximum HYGU.L drawdown of -25.92%. Use the drawdown chart below to compare losses from any high point for IHYE.L and HYGU.L.
Loading charts...
Drawdown Indicators
| IHYE.L | HYGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.54% | -25.92% | +3.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -3.35% | +0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -4.70% | -11.30% | +6.60% |
Max Drawdown (5Y)Largest decline over 5 years | -15.54% | -11.30% | -4.24% |
Current DrawdownCurrent decline from peak | 0.00% | -2.69% | +2.69% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -3.94% | +0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 1.29% | -0.61% |
Volatility
IHYE.L vs. HYGU.L - Volatility Comparison
The current volatility for iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IHYE.L) is 0.79%, while iShares € High Yield Corp Bond UCITS ETF (HYGU.L) has a volatility of 1.34%. This indicates that IHYE.L experiences smaller price fluctuations and is considered to be less risky than HYGU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IHYE.L | HYGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 1.34% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 4.52% | -1.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.78% | 6.44% | -2.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.81% | 8.00% | -1.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.12% | 9.31% | -1.19% |
IHYE.L vs. HYGU.L - Expense Ratio Comparison
Both IHYE.L and HYGU.L have an expense ratio of 0.55%.
Dividends
IHYE.L vs. HYGU.L - Dividend Comparison
IHYE.L's dividend yield for the trailing twelve months is around 6.19%, while HYGU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HYGU.L iShares € High Yield Corp 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 HYGU.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IHYE.L and HYGU.L have the same expense ratio: 0.55% per year.
IHYE.L tracks iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist), while HYGU.L tracks iShares € High Yield Corp Bond UCITS ETF.
Find the right allocation for IHYE.L and HYGU.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer