IHYE.L vs. IEAC.L
IHYE.L (iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist)) and IEAC.L (iShares Core € Corp Bond UCITS ETF EUR (Dist)) are both exchange-traded funds - IHYE.L is a Corporate Bonds fund tracking the iBoxx USD Liquid High Yield Capped (USD), while IEAC.L is a European Corporate Bonds fund tracking the BBG Euro Corporate Index (EUR). Both are passively managed. Over the past 5 years, IHYE.L returned 1.67%/yr vs -0.44%/yr for IEAC.L. At a 0.45 correlation, their price movements are largely independent. IHYE.L charges 0.55%/yr vs 0.09%/yr for IEAC.L.
Performance
IHYE.L vs. IEAC.L - Performance Comparison
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Returns By Period
In the year-to-date period, IHYE.L achieves a 0.98% return, which is significantly higher than IEAC.L's -1.30% 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*
- —
IEAC.L
- 1D
- 0.03%
- 1M
- -0.43%
- 6M
- 0.07%
- YTD
- -1.30%
- 1Y
- -0.34%
- 3Y*
- 3.69%
- 5Y*
- -0.44%
- 10Y*
- 0.64%
IHYE.L vs. IEAC.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% |
IEAC.L iShares Core € Corp Bond UCITS ETF EUR (Dist) | -1.30% | 3.22% | 4.32% | 7.42% | -13.36% | -1.07% | 2.60% | 6.20% | -0.99% |
Correlation
The correlation between IHYE.L and IEAC.L is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2018 | 0.45 |
The correlation between IHYE.L and IEAC.L shifts across timeframes, from 0.45 (all time) to 0.55 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IHYE.L vs. IEAC.L — Risk / Return Rank
IHYE.L
IEAC.L
IHYE.L vs. IEAC.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 Core € Corp Bond UCITS ETF EUR (Dist) (IEAC.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 | IEAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.15 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | -0.01 | +1.40 |
| Martin ratioReturn relative to average drawdown | 5.64 | -0.17 | +5.81 |
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Drawdowns
IHYE.L vs. IEAC.L - Drawdown Comparison
The maximum IHYE.L drawdown since its inception was -22.54%, smaller than the maximum IEAC.L drawdown of -24.28%. Use the drawdown chart below to compare losses from any high point for IHYE.L and IEAC.L.
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Drawdown Indicators
| IHYE.L | IEAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.54% | -24.28% | +1.74% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -23.42% | +20.64% |
Max Drawdown (3Y)Largest decline over 3 years | -4.70% | -23.42% | +18.72% |
Max Drawdown (5Y)Largest decline over 5 years | -15.54% | -24.28% | +8.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.28% | — |
Current DrawdownCurrent decline from peak | -0.00% | -2.79% | +2.79% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -3.03% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 2.02% | -1.34% |
Volatility
IHYE.L vs. IEAC.L - Volatility Comparison
The current volatility for iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IHYE.L) is 0.79%, while iShares Core € Corp Bond UCITS ETF EUR (Dist) (IEAC.L) has a volatility of 0.86%. This indicates that IHYE.L experiences smaller price fluctuations and is considered to be less risky than IEAC.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 | IEAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 0.86% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 36.11% | -33.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 36.42% | -32.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.81% | 16.86% | -10.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.12% | 12.32% | -4.20% |
IHYE.L vs. IEAC.L - Expense Ratio Comparison
IHYE.L has a 0.55% expense ratio, which is higher than IEAC.L's 0.09% expense ratio.
Dividends
IHYE.L vs. IEAC.L - Dividend Comparison
IHYE.L's dividend yield for the trailing twelve months is around 6.19%, more than IEAC.L's 1.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEAC.L iShares Core € Corp Bond UCITS ETF EUR (Dist) | 1.65% | 3.29% | 3.39% | 2.51% | 0.84% | 0.81% | 0.84% | 1.10% | 0.98% | 1.52% | 1.66% | 0.90% |
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% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IHYE.L and IEAC.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEAC.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEAC.L is cheaper with a 0.09% expense ratio, compared with 0.55% for IHYE.L.
IHYE.L is categorized as Corporate Bonds, while IEAC.L is European Corporate Bonds. IHYE.L tracks iBoxx USD Liquid High Yield Capped (USD), while IEAC.L tracks BBG Euro Corporate Index (EUR). Their fees differ too: 0.55% for IHYE.L and 0.09% for IEAC.L.
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