JGYH.L vs. GHYG.L
JGYH.L (JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF (acc)) and GHYG.L (iShares Global High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) are both High Yield Bonds funds - JGYH.L tracks the ICE BofA Gbl HY Constnd TR USD while GHYG.L tracks the ICE BofA Gbl HY Constnd TR HGBP. Both are passively managed. Over the past 5 years, JGYH.L returned 4.89%/yr vs 3.46%/yr for GHYG.L. At a 0.22 correlation, their price movements are largely independent. JGYH.L charges 0.35%/yr vs 0.55%/yr for GHYG.L.
Performance
JGYH.L vs. GHYG.L - Performance Comparison
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Returns By Period
In the year-to-date period, JGYH.L achieves a 1.97% return, which is significantly higher than GHYG.L's 0.87% return.
JGYH.L
- 1D
- 0.17%
- 1M
- 1.39%
- YTD
- 1.97%
- 6M
- 2.21%
- 1Y
- 9.59%
- 3Y*
- 6.40%
- 5Y*
- 4.89%
- 10Y*
- —
GHYG.L
- 1D
- -0.48%
- 1M
- 0.04%
- YTD
- 0.87%
- 6M
- 1.48%
- 1Y
- 5.47%
- 3Y*
- 7.81%
- 5Y*
- 3.46%
- 10Y*
- —
JGYH.L vs. GHYG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JGYH.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF (acc) | 1.97% | 4.09% | 7.92% | 5.18% | 0.63% | 3.10% | -0.09% |
GHYG.L iShares Global High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 0.87% | 7.92% | 6.96% | 11.12% | -9.49% | 3.39% | 1.92% |
Correlation
The correlation between JGYH.L and GHYG.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2020 | 0.22 |
The correlation between JGYH.L and GHYG.L shifts across timeframes, from 0.11 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JGYH.L vs. GHYG.L — Risk / Return Rank
JGYH.L
GHYG.L
JGYH.L vs. GHYG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF (acc) (JGYH.L) and iShares Global High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (GHYG.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.
| JGYH.L | GHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.30 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.97 | 2.15 | +1.82 |
| Martin ratioReturn relative to average drawdown | 11.86 | 9.23 | +2.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JGYH.L | GHYG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.93 | 1.52 | +0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.59 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.46 | -0.04 |
Drawdowns
JGYH.L vs. GHYG.L - Drawdown Comparison
The maximum JGYH.L drawdown since its inception was -12.24%, smaller than the maximum GHYG.L drawdown of -23.01%. Use the drawdown chart below to compare losses from any high point for JGYH.L and GHYG.L.
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Drawdown Indicators
| JGYH.L | GHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.24% | -23.01% | +10.77% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | -2.54% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -7.56% | -4.57% | -2.99% |
Max Drawdown (5Y)Largest decline over 5 years | -7.75% | -14.45% | +6.70% |
Current DrawdownCurrent decline from peak | 0.00% | -0.48% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -2.52% | -2.99% | +0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 0.59% | +0.22% |
Volatility
JGYH.L vs. GHYG.L - Volatility Comparison
JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF (acc) (JGYH.L) and iShares Global High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (GHYG.L) have volatilities of 1.22% and 1.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JGYH.L | GHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.28% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.56% | 3.00% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.94% | 3.60% | +1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.92% | 5.87% | +1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.60% | 7.88% | +0.72% |
JGYH.L vs. GHYG.L - Expense Ratio Comparison
JGYH.L has a 0.35% expense ratio, which is lower than GHYG.L's 0.55% expense ratio.
Dividends
JGYH.L vs. GHYG.L - Dividend Comparison
JGYH.L has not paid dividends to shareholders, while GHYG.L's dividend yield for the trailing twelve months is around 5.38%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GHYG.L iShares Global High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 5.38% | 5.34% | 5.26% | 4.69% | 4.15% | 3.73% | 4.54% | 1.79% |
JGYH.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF (acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JGYH.L and GHYG.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JGYH.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JGYH.L is cheaper with a 0.35% expense ratio, compared with 0.55% for GHYG.L.
JGYH.L tracks ICE BofA Gbl HY Constnd TR USD, while GHYG.L tracks ICE BofA Gbl HY Constnd TR HGBP. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.35% for JGYH.L and 0.55% for GHYG.L.
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