JGHY.L vs. HYGU.L
JGHY.L (JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc) and HYGU.L (iShares € High Yield Corp Bond UCITS ETF) are both High Yield Bonds funds. JGHY.L is actively managed, while HYGU.L is passively managed. Over the past 5 years, JGHY.L returned 3.74%/yr vs 4.58%/yr for HYGU.L. A 0.73 correlation means they provide meaningful diversification when combined. JGHY.L charges 0.35%/yr vs 0.55%/yr for HYGU.L.
Performance
JGHY.L vs. HYGU.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JGHY.L having a 2.09% return and HYGU.L slightly higher at 2.18%.
JGHY.L
- 1D
- -0.08%
- 1M
- -0.13%
- 6M
- 1.98%
- YTD
- 2.09%
- 1Y
- 7.41%
- 3Y*
- 8.58%
- 5Y*
- 3.74%
- 10Y*
- —
HYGU.L
- 1D
- -0.03%
- 1M
- 0.24%
- 6M
- 2.18%
- YTD
- 2.18%
- 1Y
- 5.22%
- 3Y*
- 8.18%
- 5Y*
- 4.58%
- 10Y*
- —
JGHY.L vs. HYGU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JGHY.L JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc | 2.09% | 11.61% | 6.10% | 11.41% | -10.11% | 1.82% | 6.24% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 2.18% | 7.24% | 7.29% | 13.55% | -7.14% | 3.72% | 2.46% |
Correlation
The correlation between JGHY.L and HYGU.L is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2020 | 0.73 |
The correlation between JGHY.L and HYGU.L has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.
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Return for Risk
JGHY.L vs. HYGU.L — Risk / Return Rank
JGHY.L
HYGU.L
JGHY.L vs. HYGU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc (JGHY.L) and iShares € High Yield Corp Bond UCITS ETF (HYGU.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.
| JGHY.L | HYGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.33 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 2.00 | +0.17 |
| Martin ratioReturn relative to average drawdown | 9.24 | 8.61 | +0.63 |
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Drawdowns
JGHY.L vs. HYGU.L - Drawdown Comparison
The maximum JGHY.L drawdown since its inception was -20.47%, smaller than the maximum HYGU.L drawdown of -25.03%. Use the drawdown chart below to compare losses from any high point for JGHY.L and HYGU.L.
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Drawdown Indicators
| JGHY.L | HYGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.47% | -25.03% | +4.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -2.60% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -4.31% | -3.62% | -0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -17.54% | -13.61% | -3.93% |
Current DrawdownCurrent decline from peak | -0.20% | -0.16% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -2.06% | -1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.61% | +0.17% |
Volatility
JGHY.L vs. HYGU.L - Volatility Comparison
JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc (JGHY.L) has a higher volatility of 0.98% compared to iShares € High Yield Corp Bond UCITS ETF (HYGU.L) at 0.62%. This indicates that JGHY.L's price experiences larger fluctuations and is considered to be riskier than HYGU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JGHY.L | HYGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.62% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 3.50% | 2.85% | +0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.21% | 3.33% | +0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.55% | 5.37% | +1.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.41% | 7.10% | +1.31% |
JGHY.L vs. HYGU.L - Expense Ratio Comparison
JGHY.L has a 0.35% expense ratio, which is lower than HYGU.L's 0.55% expense ratio.
Dividends
JGHY.L vs. HYGU.L - Dividend Comparison
Neither JGHY.L nor HYGU.L has paid dividends to shareholders.
Frequently Asked Questions
JGHY.L and HYGU.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JGHY.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JGHY.L is cheaper with a 0.35% expense ratio, compared with 0.55% for HYGU.L.
They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.35% for JGHY.L and 0.55% for HYGU.L.
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