IHYE.L vs. HYLA.L
IHYE.L (iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist)) and HYLA.L (iShares Global High Yield Corp Bond UCITS ETF USD (Acc)) are both exchange-traded funds - IHYE.L is a Corporate Bonds fund tracking the iBoxx USD Liquid High Yield Capped (USD), while HYLA.L is a Global Corporate Bonds fund tracking the Markit iBoxx Global Developed Markets Liquid High Yield Capped (USD) Index. Both are passively managed. Over the past 5 years, IHYE.L returned 1.67%/yr vs 3.72%/yr for HYLA.L. A 0.51 correlation means they provide meaningful diversification when combined. IHYE.L charges 0.55%/yr vs 0.50%/yr for HYLA.L.
Performance
IHYE.L vs. HYLA.L - Performance Comparison
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Different Trading Currencies
IHYE.L is traded in EUR, while HYLA.L is traded in USD. To make them comparable, the HYLA.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 0.98% return, which is significantly lower than HYLA.L's 2.99% return.
IHYE.L
- 1D
- 0.00%
- 1M
- 0.26%
- 6M
- 0.48%
- YTD
- 0.98%
- 1Y
- 3.87%
- 3Y*
- 5.78%
- 5Y*
- 1.67%
- 10Y*
- —
HYLA.L
- 1D
- -0.11%
- 1M
- 0.26%
- 6M
- 2.00%
- YTD
- 2.99%
- 1Y
- 5.38%
- 3Y*
- 6.89%
- 5Y*
- 3.72%
- 10Y*
- —
IHYE.L vs. HYLA.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) | 0.98% | 6.77% | 5.11% | 8.05% | -11.60% | 2.86% | 3.05% | 9.11% | -3.03% |
HYLA.L iShares Global High Yield Corp Bond UCITS ETF USD (Acc) | 2.99% | 0.87% | 9.36% | 9.99% | -6.34% | 7.33% | -1.30% | 14.36% | 3.16% |
Correlation
The correlation between IHYE.L and HYLA.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2018 | 0.51 |
The correlation between IHYE.L and HYLA.L shifts across timeframes, from 0.39 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IHYE.L vs. HYLA.L — Risk / Return Rank
IHYE.L
HYLA.L
IHYE.L vs. HYLA.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 Corp Bond UCITS ETF USD (Acc) (HYLA.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 | HYLA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.18 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 2.67 | -1.28 |
| Martin ratioReturn relative to average drawdown | 5.64 | 8.39 | -2.75 |
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Drawdowns
IHYE.L vs. HYLA.L - Drawdown Comparison
The maximum IHYE.L drawdown since its inception was -22.54%, roughly equal to the maximum HYLA.L drawdown of -23.46%. Use the drawdown chart below to compare losses from any high point for IHYE.L and HYLA.L.
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Drawdown Indicators
| IHYE.L | HYLA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.54% | -23.46% | +0.92% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -2.01% | -0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -4.70% | -7.50% | +2.80% |
Max Drawdown (5Y)Largest decline over 5 years | -15.54% | -10.28% | -5.26% |
Current DrawdownCurrent decline from peak | -0.00% | -0.77% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -2.68% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.64% | +0.04% |
Volatility
IHYE.L vs. HYLA.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 Corp Bond UCITS ETF USD (Acc) (HYLA.L) has a volatility of 1.51%. This indicates that IHYE.L experiences smaller price fluctuations and is considered to be less risky than HYLA.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 | HYLA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 1.51% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 4.34% | -1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 5.36% | -1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.81% | 7.09% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.12% | 8.97% | -0.85% |
IHYE.L vs. HYLA.L - Expense Ratio Comparison
IHYE.L has a 0.55% expense ratio, which is higher than HYLA.L's 0.50% expense ratio.
Dividends
IHYE.L vs. HYLA.L - Dividend Comparison
IHYE.L's dividend yield for the trailing twelve months is around 6.19%, while HYLA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HYLA.L iShares Global High Yield Corp Bond UCITS ETF USD (Acc) | 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 HYLA.L have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYLA.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYLA.L is cheaper with a 0.50% expense ratio, compared with 0.55% for IHYE.L.
IHYE.L is categorized as Corporate Bonds, while HYLA.L is Global Corporate Bonds. IHYE.L tracks iBoxx USD Liquid High Yield Capped (USD), while HYLA.L tracks Markit iBoxx Global Developed Markets Liquid High Yield Capped (USD) Index. Their fees differ too: 0.55% for IHYE.L and 0.50% for HYLA.L.
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