IS3M.DE vs. HYLE.DE
IS3M.DE (iShares € Ultrashort Bond UCITS ETF) and HYLE.DE (iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist) are both exchange-traded funds - IS3M.DE is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR), while HYLE.DE is a High Yield Bonds fund tracking the iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged). Both are passively managed. Over the past 5 years, IS3M.DE returned 2.10%/yr vs 2.18%/yr for HYLE.DE. At a 0.05 correlation, their price movements are largely independent. IS3M.DE charges 0.09%/yr vs 0.55%/yr for HYLE.DE.
Performance
IS3M.DE vs. HYLE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS3M.DE achieves a 0.92% return, which is significantly higher than HYLE.DE's 0.62% return.
IS3M.DE
- 1D
- 0.04%
- 1M
- 0.34%
- YTD
- 0.92%
- 6M
- 1.01%
- 1Y
- 2.26%
- 3Y*
- 3.34%
- 5Y*
- 2.10%
- 10Y*
- 1.01%
HYLE.DE
- 1D
- 0.17%
- 1M
- 0.41%
- YTD
- 0.62%
- 6M
- 1.13%
- 1Y
- 4.13%
- 3Y*
- 6.29%
- 5Y*
- 2.18%
- 10Y*
- —
IS3M.DE vs. HYLE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IS3M.DE iShares € Ultrashort Bond UCITS ETF | 0.92% | 2.61% | 4.12% | 3.42% | -0.29% | -0.36% | 0.09% | 0.03% |
HYLE.DE iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist | 0.62% | 5.98% | 5.45% | 9.62% | -10.62% | 3.02% | 2.52% | 3.53% |
Correlation
The correlation between IS3M.DE and HYLE.DE is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2019 | 0.05 |
The correlation between IS3M.DE and HYLE.DE shifts across timeframes, from -0.04 (1 year) to 0.06 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IS3M.DE vs. HYLE.DE — Risk / Return Rank
IS3M.DE
HYLE.DE
IS3M.DE vs. HYLE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Ultrashort Bond UCITS ETF (IS3M.DE) and iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist (HYLE.DE). 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.
| IS3M.DE | HYLE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.75 | ||
| Sortino ratioReturn per unit of downside risk | +2.78 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.23 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 7.59 | 1.45 | +6.14 |
| Martin ratioReturn relative to average drawdown | 49.96 | 6.60 | +43.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IS3M.DE | HYLE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.95 | 1.20 | +1.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.74 | 0.37 | +2.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.31 | +0.54 |
Drawdowns
IS3M.DE vs. HYLE.DE - Drawdown Comparison
The maximum IS3M.DE drawdown since its inception was -3.80%, smaller than the maximum HYLE.DE drawdown of -22.59%. Use the drawdown chart below to compare losses from any high point for IS3M.DE and HYLE.DE.
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Drawdown Indicators
| IS3M.DE | HYLE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.80% | -22.59% | +18.79% |
Max Drawdown (1Y)Largest decline over 1 year | -0.30% | -2.83% | +2.53% |
Max Drawdown (3Y)Largest decline over 3 years | -0.47% | -4.05% | +3.58% |
Max Drawdown (5Y)Largest decline over 5 years | -1.21% | -15.38% | +14.17% |
Max Drawdown (10Y)Largest decline over 10 years | -3.80% | — | — |
Current DrawdownCurrent decline from peak | -0.01% | -0.23% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -0.29% | -3.47% | +3.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.63% | -0.58% |
Volatility
IS3M.DE vs. HYLE.DE - Volatility Comparison
The current volatility for iShares € Ultrashort Bond UCITS ETF (IS3M.DE) is 0.29%, while iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist (HYLE.DE) has a volatility of 1.06%. This indicates that IS3M.DE experiences smaller price fluctuations and is considered to be less risky than HYLE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS3M.DE | HYLE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.29% | 1.06% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 0.59% | 2.83% | -2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.76% | 3.43% | -2.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.76% | 5.85% | -5.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.11% | 8.39% | -7.28% |
IS3M.DE vs. HYLE.DE - Expense Ratio Comparison
IS3M.DE has a 0.09% expense ratio, which is lower than HYLE.DE's 0.55% expense ratio.
Dividends
IS3M.DE vs. HYLE.DE - Dividend Comparison
IS3M.DE's dividend yield for the trailing twelve months is around 3.29%, less than HYLE.DE's 5.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYLE.DE iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist | 5.36% | 5.34% | 5.38% | 4.76% | 4.17% | 3.83% | 4.50% | 1.75% | 0.00% | 0.00% | 0.00% | 0.00% |
IS3M.DE iShares € Ultrashort Bond UCITS ETF | 3.29% | 2.74% | 3.80% | 2.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.13% |
Frequently Asked Questions
IS3M.DE and HYLE.DE have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS3M.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS3M.DE is cheaper with a 0.09% expense ratio, compared with 0.55% for HYLE.DE.
IS3M.DE is categorized as Ultrashort Bond, while HYLE.DE is High Yield Bonds. IS3M.DE tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR), while HYLE.DE tracks iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged). Their fees differ too: 0.09% for IS3M.DE and 0.55% for HYLE.DE.
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