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ITM.L vs. GHYS.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ITM.L vs. GHYS.L

Last updated Jul 21, 2026
Documentation

ITM.L (ITM Power) is a stock, while GHYS.L (iShares Global High Yield Corp Bond GBP Hedged UCITS ETF) is High Yield Bonds fund tracking the Markit iBoxx Global Developed Markets Liquid High Yield Capped Index (GBP Hedged). Over the past 10 years, ITM.L returned 19.72%/yr vs 3.84%/yr for GHYS.L. At a 0.22 correlation, their price movements are largely independent.

Performance

ITM.L vs. GHYS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in ITM Power (ITM.L) and iShares Global High Yield Corp Bond GBP Hedged UCITS ETF (GHYS.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ITM.L is traded in GBp, while GHYS.L is traded in GBP. To make them comparable, the GHYS.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, ITM.L achieves a 70.47% return, which is significantly higher than GHYS.L's 1.86% return. Over the past 10 years, ITM.L has outperformed GHYS.L with an annualized return of 19.72%, while GHYS.L has yielded a comparatively lower 3.84% annualized return.

ITM.L

1D
3.01%
1M
-19.12%
6M
63.38%
YTD
70.47%
1Y
39.55%
3Y*
3.52%
5Y*
-23.40%
10Y*
19.72%
ALL TIME*
-0.24%

GHYS.L

1D
-0.20%
1M
0.46%
6M
1.48%
YTD
1.86%
1Y
5.05%
3Y*
7.68%
5Y*
3.51%
10Y*
3.84%
ALL TIME*
4.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ITM.L vs. GHYS.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ITM.L
ITM Power		70.47%74.51%-39.90%-35.18%-76.74%-23.64%626.11%204.91%-39.02%69.61%
GHYS.L
iShares Global High Yield Corp Bond GBP Hedged UCITS ETF		1.86%7.56%6.95%11.60%-9.89%3.60%2.70%11.10%-3.21%4.61%

Correlation

The correlation between ITM.L and GHYS.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.22

Correlation (3Y)
Calculated over the trailing 3-year period

0.23

Correlation (5Y)
Calculated over the trailing 5-year period

0.29

Correlation (10Y)
Calculated over the trailing 10-year period

0.25

Correlation (All Time)
Calculated using the full available price history since Jun 25, 2013

0.22

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ITM Power

iShares Global High Yield Corp Bond GBP Hedged UCITS ETF

Often compared with ITM.L:
ITM.L vs. PLUGITM.L vs. VITM.L vs. VDPG.LITM.L vs. VUKG.LITM.L vs. HMCH.L
Often compared with GHYS.L:
GHYS.L vs. IS15.LGHYS.L vs. HYGWGHYS.L vs. VHYL.ASGHYS.L vs. TDGB.LGHYS.L vs. HYEA.LGHYS.L vs. GHYG.LGHYS.L vs. GFGB.L

Return for Risk

ITM.L vs. GHYS.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ITM.L
ITM.L Risk / Return Rank: 6464
Overall Rank
ITM.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
ITM.L Sortino Ratio Rank: 6969
Sortino Ratio Rank
ITM.L Omega Ratio Rank: 6565
Omega Ratio Rank
ITM.L Calmar Ratio Rank: 6363
Calmar Ratio Rank
ITM.L Martin Ratio Rank: 6363
Martin Ratio Rank
GHYS.L
GHYS.L Risk / Return Rank: 4545
Overall Rank
GHYS.L Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
GHYS.L Sortino Ratio Rank: 4242
Sortino Ratio Rank
GHYS.L Omega Ratio Rank: 4141
Omega Ratio Rank
GHYS.L Calmar Ratio Rank: 4444
Calmar Ratio Rank
GHYS.L Martin Ratio Rank: 5858
Martin Ratio Rank
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.

ITM.L vs. GHYS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ITM Power (ITM.L) and iShares Global High Yield Corp Bond GBP Hedged UCITS ETF (GHYS.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.

ITM.LGHYS.LDifference
Sharpe ratioReturn per unit of total volatility
0.49
1.09

-0.60

Sortino ratioReturn per unit of downside risk
1.43
1.65

-0.22

Omega ratioGain probability vs. loss probability

1.16

1.21

-0.05

Calmar ratioReturn relative to maximum drawdown

0.78

1.70

-0.92

Martin ratioReturn relative to average drawdown

1.64

7.45

-5.81

ITM.L vs. GHYS.L - Sharpe Ratio Comparison

The current ITM.L Sharpe Ratio is 0.49, which is lower than the GHYS.L Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of ITM.L and GHYS.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.

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Drawdowns

ITM.L vs. GHYS.L - Drawdown Comparison

The maximum ITM.L drawdown since its inception was -96.43%, which is greater than GHYS.L's maximum drawdown of -25.16%. Use the drawdown chart below to compare losses from any high point for ITM.L and GHYS.L.

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Drawdown Indicators

ITM.LGHYS.LDifference

Max Drawdown

Largest peak-to-trough decline

-96.43%

-25.16%

-71.27%

Max Drawdown (1Y)

Largest decline over 1 year

-50.72%

-2.97%

-47.75%

Max Drawdown (3Y)

Largest decline over 3 years

-74.01%

-4.54%

-69.47%

Max Drawdown (5Y)

Largest decline over 5 years

-95.08%

-14.71%

-80.37%

Max Drawdown (10Y)

Largest decline over 10 years

-96.43%

-25.16%

-71.27%

Current Drawdown

Current decline from peak

-85.19%

-0.50%

-84.69%

Average Drawdown

Average peak-to-trough decline

-73.03%

-2.27%

-70.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

23.95%

0.68%

+23.27%

Volatility

ITM.L vs. GHYS.L - Volatility Comparison

ITM Power (ITM.L) has a higher volatility of 22.01% compared to iShares Global High Yield Corp Bond GBP Hedged UCITS ETF (GHYS.L) at 0.95%. This indicates that ITM.L's price experiences larger fluctuations and is considered to be riskier than GHYS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ITM.LGHYS.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

22.01%

0.95%

+21.06%

Volatility (6M)

Calculated over the trailing 6-month period

64.30%

4.07%

+60.23%

Volatility (1Y)

Calculated over the trailing 1-year period

80.26%

4.64%

+75.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

73.56%

6.03%

+67.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

76.83%

7.11%

+69.72%

Dividends

ITM.L vs. GHYS.L - Dividend Comparison

ITM.L has not paid dividends to shareholders, while GHYS.L's dividend yield for the trailing twelve months is around 7.26%.

PositionTTM20252024202320222021202020192018201720162015
GHYS.L
iShares Global High Yield Corp Bond GBP Hedged UCITS ETF		7.26%5.68%5.77%5.36%4.41%3.78%4.08%5.03%4.89%4.58%4.91%5.65%
ITM.L
ITM Power		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

ITM.L and GHYS.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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