JGYH.L vs. HYGU.L
JGYH.L (JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF (acc)) and HYGU.L (iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc)) are both exchange-traded funds - JGYH.L is a High Yield Bonds fund tracking the ICE BofA Gbl HY Constnd TR USD, while HYGU.L is a European High Yield Bonds fund tracking the Markit iBoxx Euro Liquid High Yield Index (EUR). Both are passively managed. Over the past 5 years, JGYH.L returned 4.22%/yr vs 5.03%/yr for HYGU.L. A 0.71 correlation means they provide meaningful diversification when combined. JGYH.L charges 0.35%/yr vs 0.55%/yr for HYGU.L.
Performance
JGYH.L vs. HYGU.L - Performance Comparison
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Different Trading Currencies
JGYH.L is traded in GBP, while HYGU.L is traded in USD. To make them comparable, the HYGU.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, JGYH.L achieves a 1.93% return, which is significantly lower than HYGU.L's 2.17% return.
JGYH.L
- 1D
- -0.45%
- 1M
- -0.44%
- 6M
- 1.33%
- YTD
- 1.93%
- 1Y
- 7.13%
- 3Y*
- 7.53%
- 5Y*
- 4.22%
- 10Y*
- —
HYGU.L
- 1D
- 0.43%
- 1M
- -0.09%
- 6M
- 1.34%
- YTD
- 2.17%
- 1Y
- 4.78%
- 3Y*
- 7.09%
- 5Y*
- 5.03%
- 10Y*
- —
JGYH.L vs. HYGU.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) | 1.93% | 4.10% | 7.92% | 5.18% | 0.63% | 3.10% | -22.21% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) | 2.17% | -0.40% | 9.16% | 7.87% | 3.91% | 4.70% | -2.57% |
Correlation
The correlation between JGYH.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 | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2020 | 0.71 |
The correlation between JGYH.L and HYGU.L has been stable across timeframes, ranging from 0.68 to 0.71 - a consistent structural relationship.
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Return for Risk
JGYH.L vs. HYGU.L — Risk / Return Rank
JGYH.L
HYGU.L
JGYH.L vs. HYGU.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 € High Yield Corp Bond UCITS ETF USD Hedged (Acc) (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.
| JGYH.L | HYGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.12 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 1.11 | +1.64 |
| Martin ratioReturn relative to average drawdown | 7.90 | 2.77 | +5.13 |
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Drawdowns
JGYH.L vs. HYGU.L - Drawdown Comparison
The maximum JGYH.L drawdown since its inception was -31.48%, which is greater than HYGU.L's maximum drawdown of -19.14%. Use the drawdown chart below to compare losses from any high point for JGYH.L and HYGU.L.
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Drawdown Indicators
| JGYH.L | HYGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.48% | -19.14% | -12.34% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | -4.27% | +1.86% |
Max Drawdown (3Y)Largest decline over 3 years | -7.56% | -8.35% | +0.79% |
Max Drawdown (5Y)Largest decline over 5 years | -7.74% | -9.08% | +1.34% |
Current DrawdownCurrent decline from peak | -3.12% | -2.03% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -16.54% | -3.90% | -12.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 1.72% | -0.88% |
Volatility
JGYH.L vs. HYGU.L - Volatility Comparison
The current volatility for JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF (acc) (JGYH.L) is 1.40%, while iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc) (HYGU.L) has a volatility of 1.81%. This indicates that JGYH.L experiences smaller price fluctuations and is considered to be less risky 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
| JGYH.L | HYGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 1.81% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 3.48% | 5.11% | -1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.94% | 6.78% | -1.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.94% | 8.41% | -1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.31% | 9.42% | +2.89% |
JGYH.L vs. HYGU.L - Expense Ratio Comparison
JGYH.L has a 0.35% expense ratio, which is lower than HYGU.L's 0.55% expense ratio.
Dividends
JGYH.L vs. HYGU.L - Dividend Comparison
Neither JGYH.L nor HYGU.L has paid dividends to shareholders.
Frequently Asked Questions
JGYH.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, 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 HYGU.L.
JGYH.L is categorized as High Yield Bonds, while HYGU.L is European High Yield Bonds. JGYH.L tracks ICE BofA Gbl HY Constnd TR USD, while HYGU.L tracks Markit iBoxx Euro Liquid High Yield Index (EUR). They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.35% for JGYH.L and 0.55% for HYGU.L.
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