IHYG.L vs. MEUD.L

Last updated Jun 9, 2026

IHYG.L (iShares € High Yield Corp Bond UCITS ETF EUR (Dist)) and MEUD.L (Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc) are both exchange-traded funds - IHYG.L is a European High Yield Bonds fund tracking the Markit iBoxx Euro Liquid High Yield Index, while MEUD.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, IHYG.L returned 3.09%/yr vs 9.51%/yr for MEUD.L. A 0.62 correlation means they provide meaningful diversification when combined. IHYG.L charges 0.50%/yr vs 0.15%/yr for MEUD.L.

Performance

IHYG.L vs. MEUD.L - 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 Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc (MEUD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IHYG.L is traded in EUR, while MEUD.L is traded in GBp. To make them comparable, the MEUD.L 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 0.54% return, which is significantly lower than MEUD.L's 7.18% return. Over the past 10 years, IHYG.L has underperformed MEUD.L with an annualized return of 3.09%, while MEUD.L has yielded a comparatively higher 9.51% annualized return.

IHYG.L

• 1D: -0.07%
• 1M: 0.31%
• YTD: 0.54%
• 6M: 1.38%
• 1Y: 2.99%
• 3Y*: 6.08%
• 5Y*: 2.59%
• 10Y*: 3.09%

MEUD.L

• 1D: -0.01%
• 1M: 2.27%
• YTD: 7.18%
• 6M: 9.73%
• 1Y: 15.48%
• 3Y*: 13.79%
• 5Y*: 9.53%
• 10Y*: 9.51%

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

IHYG.L vs. MEUD.L - 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)	0.54%	5.32%	5.71%	11.34%	-9.47%	3.04%	1.14%	9.70%	-3.57%	4.81%
MEUD.L Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc	7.18%	19.91%	8.66%	15.89%	-9.94%	24.68%	-1.79%	28.06%	-10.71%	10.88%

Correlation

The correlation between IHYG.L and MEUD.L is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Apr 4, 2013	0.62

The correlation between IHYG.L and MEUD.L has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.

IHYG.L vs. MEUD.L - Sectors Allocation Comparison

Sectors	IHYG.L	MEUD.L
Financial Services	100.0%	23.9%
Basic Materials	-	5.1%
Communication Services	-	3.0%
Consumer Cyclical	-	7.1%
Consumer Defensive	-	7.7%
Energy	-	5.3%
Healthcare	-	12.6%
Industrials	-	20.3%
Real Estate	-	1.2%
Technology	-	9.4%
Utilities	-	4.4%

Return for Risk

IHYG.L vs. MEUD.L — 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: 28
IHYG.L Sharpe Ratio Rank: 26
IHYG.L Sortino Ratio Rank: 28
IHYG.L Omega Ratio Rank: 26
IHYG.L Calmar Ratio Rank: 25
IHYG.L Martin Ratio Rank: 33

MEUD.L

MEUD.L Risk / Return Rank: 46
MEUD.L Sharpe Ratio Rank: 49
MEUD.L Sortino Ratio Rank: 48
MEUD.L Omega Ratio Rank: 51
MEUD.L Calmar Ratio Rank: 39
MEUD.L Martin Ratio Rank: 43

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. MEUD.L - 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 Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc (MEUD.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.

	IHYG.L	MEUD.L	Difference
Sharpe ratio: Return per unit of total volatility	0.84	1.23	-0.39
Sortino ratio: Return per unit of downside risk	1.36	1.81	-0.45
Omega ratio: Gain probability vs. loss probability	1.16	1.23	-0.07
Calmar ratio: Return relative to maximum drawdown	1.08	1.62	-0.54
Martin ratio: Return relative to average drawdown	4.47	6.11	-1.64
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. MEUD.L - Sharpe Ratio Comparison

The current IHYG.L Sharpe Ratio is 0.84, which is lower than the MEUD.L Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of IHYG.L and MEUD.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IHYG.L	MEUD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	1.23	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.58	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.54	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.42	+0.22

Drawdowns

IHYG.L vs. MEUD.L - Drawdown Comparison

The maximum IHYG.L drawdown since its inception was -25.61%, smaller than the maximum MEUD.L drawdown of -36.19%. Use the drawdown chart below to compare losses from any high point for IHYG.L and MEUD.L.

Drawdown Indicators

	IHYG.L	MEUD.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.61%	-36.19%	+10.58%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-9.53%	+6.77%
Max Drawdown (3Y) Largest decline over 3 years	-3.89%	-15.58%	+11.69%
Max Drawdown (5Y) Largest decline over 5 years	-14.59%	-20.75%	+6.16%
Max Drawdown (10Y) Largest decline over 10 years	-25.61%	-36.19%	+10.58%
Current Drawdown Current decline from peak	-0.32%	-1.08%	+0.76%
Average Drawdown Average peak-to-trough decline	-2.04%	-7.57%	+5.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	2.52%	-1.85%

Volatility

IHYG.L vs. MEUD.L - Volatility Comparison

The current volatility for iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L) is 0.94%, while Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc (MEUD.L) has a volatility of 3.26%. This indicates that IHYG.L experiences smaller price fluctuations and is considered to be less risky than MEUD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHYG.L	MEUD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	3.26%	-2.32%
Volatility (6M) Calculated over the trailing 6-month period	3.07%	10.26%	-7.19%
Volatility (1Y) Calculated over the trailing 1-year period	3.56%	12.58%	-9.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.44%	16.41%	-10.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.79%	17.61%	-10.82%

IHYG.L vs. MEUD.L - Expense Ratio Comparison

IHYG.L has a 0.50% expense ratio, which is higher than MEUD.L's 0.15% expense ratio.

Dividends

IHYG.L vs. MEUD.L - Dividend Comparison

IHYG.L's dividend yield for the trailing twelve months is around 5.18%, while MEUD.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IHYG.L iShares € High Yield Corp Bond UCITS ETF EUR (Dist)	5.18%	5.44%	6.10%	5.41%	3.70%	3.07%	3.67%	3.76%	3.68%	3.77%	4.03%	4.59%
MEUD.L Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IHYG.L and MEUD.L in my portfolio?

IHYG.L and MEUD.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IHYG.L or MEUD.L?

On fees, MEUD.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IHYG.L or MEUD.L?

MEUD.L is cheaper with a 0.15% expense ratio, compared with 0.50% for IHYG.L.

What is the main difference between IHYG.L and MEUD.L?

IHYG.L is categorized as European High Yield Bonds, while MEUD.L is Europe Equities. IHYG.L tracks Markit iBoxx Euro Liquid High Yield Index, while MEUD.L tracks MSCI Europe NR EUR. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.50% for IHYG.L and 0.15% for MEUD.L.