IHYG.L vs. LVHI

Last updated Apr 3, 2026

Compare and contrast key facts about iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L) and Legg Mason International Low Volatility High Dividend ETF (LVHI).

IHYG.L and LVHI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IHYG.L is a passively managed fund by iShares that tracks the performance of the Markit iBoxx Euro Liquid High Yield Index. It was launched on Sep 22, 2023. LVHI is a passively managed fund by Franklin Templeton that tracks the performance of the QS International Low Volatility High Dividend Hedged Index. It was launched on Jul 27, 2016. Both IHYG.L and LVHI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IHYG.L vs. LVHI - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L) and Legg Mason International Low Volatility High Dividend ETF (LVHI). The values are adjusted to include any dividend payments, if applicable.

IHYG.L vs. LVHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IHYG.L iShares € High Yield Corp Bond UCITS ETF EUR (Dist)	-1.22%	5.32%	5.71%	11.34%	-9.47%	3.04%	1.14%	9.71%	-3.57%	4.81%
LVHI Legg Mason International Low Volatility High Dividend ETF	13.32%	12.03%	22.39%	13.93%	10.27%	27.03%	-16.28%	21.02%	-0.77%	-1.53%

Different Trading Currencies

IHYG.L is traded in EUR, while LVHI is traded in USD. To make them comparable, the LVHI values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IHYG.L achieves a -1.22% return, which is significantly lower than LVHI's 13.32% return.

IHYG.L

• 1D: 0.18%
• 1M: -0.43%
• YTD: -1.22%
• 6M: -0.37%
• 1Y: 3.26%
• 3Y*: 5.89%
• 5Y*: 2.41%
• 10Y*: 3.04%

LVHI

• 1D: 0.75%
• 1M: 1.92%
• YTD: 13.32%
• 6M: 21.92%
• 1Y: 25.10%
• 3Y*: 19.24%
• 5Y*: 16.84%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IHYG.L vs. LVHI - Expense Ratio Comparison

IHYG.L has a 0.50% expense ratio, which is higher than LVHI's 0.40% expense ratio.

IHYG.L

iShares € High Yield Corp Bond UCITS ETF EUR (Dist)

LVHI

Legg Mason International Low Volatility High Dividend ETF

Return for Risk

IHYG.L vs. LVHI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IHYG.L

IHYG.L Risk / Return Rank: 41
IHYG.L Sharpe Ratio Rank: 38
IHYG.L Sortino Ratio Rank: 36
IHYG.L Omega Ratio Rank: 36
IHYG.L Calmar Ratio Rank: 44
IHYG.L Martin Ratio Rank: 51

LVHI

LVHI Risk / Return Rank: 94
LVHI Sharpe Ratio Rank: 95
LVHI Sortino Ratio Rank: 95
LVHI Omega Ratio Rank: 97
LVHI Calmar Ratio Rank: 88
LVHI Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IHYG.L vs. LVHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L) and Legg Mason International Low Volatility High Dividend ETF (LVHI). 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.

	IHYG.L	LVHI	Difference
Sharpe ratio Return per unit of total volatility	0.78	1.58	-0.81
Sortino ratio Return per unit of downside risk	1.14	2.06	-0.92
Omega ratio Gain probability vs. loss probability	1.16	1.33	-0.17
Calmar ratio Return relative to maximum drawdown	1.41	1.99	-0.57
Martin ratio Return relative to average drawdown	6.06	7.78	-1.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IHYG.L vs. LVHI - Sharpe Ratio Comparison

The current IHYG.L Sharpe Ratio is 0.78, which is lower than the LVHI Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of IHYG.L and LVHI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IHYG.L	LVHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	1.58	-0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	1.39	-0.94
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.71	-0.10

Correlation

The correlation between IHYG.L and LVHI is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IHYG.L vs. LVHI - Dividend Comparison

IHYG.L's dividend yield for the trailing twelve months is around 5.27%, more than LVHI's 4.52% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IHYG.L iShares € High Yield Corp Bond UCITS ETF EUR (Dist)	5.27%	5.44%	6.10%	5.41%	3.70%	3.07%	3.67%	3.76%	3.68%	3.77%	4.03%	4.59%
LVHI Legg Mason International Low Volatility High Dividend ETF	4.52%	4.92%	3.98%	8.12%	7.74%	4.13%	3.97%	6.67%	10.67%	3.38%	2.02%	0.00%

Drawdowns

IHYG.L vs. LVHI - Drawdown Comparison

The maximum IHYG.L drawdown since its inception was -25.61%, smaller than the maximum LVHI drawdown of -34.69%. Use the drawdown chart below to compare losses from any high point for IHYG.L and LVHI.

Drawdown Indicators

	IHYG.L	LVHI	Difference
Max Drawdown Largest peak-to-trough decline	-25.61%	-32.31%	+6.70%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-8.63%	+5.87%
Max Drawdown (5Y) Largest decline over 5 years	-14.59%	-11.99%	-2.60%
Max Drawdown (10Y) Largest decline over 10 years	-25.61%	—	—
Current Drawdown Current decline from peak	-1.50%	-1.44%	-0.06%
Average Drawdown Average peak-to-trough decline	-2.06%	-3.56%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.64%	2.05%	-1.41%

Volatility

IHYG.L vs. LVHI - Volatility Comparison

The current volatility for iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L) is 1.84%, while Legg Mason International Low Volatility High Dividend ETF (LVHI) has a volatility of 4.20%. This indicates that IHYG.L experiences smaller price fluctuations and is considered to be less risky than LVHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHYG.L	LVHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.84%	4.20%	-2.36%
Volatility (6M) Calculated over the trailing 6-month period	2.63%	7.95%	-5.32%
Volatility (1Y) Calculated over the trailing 1-year period	4.18%	15.96%	-11.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.37%	12.17%	-6.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.77%	15.34%	-8.57%