SDHA.L vs. HYFC.L
SDHA.L (iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc)) and HYFC.L (Invesco US High Yield Fallen Angels UCITS ETF Acc) are both High Yield Bonds funds - SDHA.L tracks the Bloomberg US Corporate High Yield TR USD while HYFC.L tracks the FTSE Time-Weighted US Fallen Angel Bond Select Index. Both are passively managed. Over the past 3 years, SDHA.L returned 7.71%/yr vs 7.95%/yr for HYFC.L. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.45% expense ratio.
Performance
SDHA.L vs. HYFC.L - Performance Comparison
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Returns By Period
In the year-to-date period, SDHA.L achieves a 1.56% return, which is significantly higher than HYFC.L's 0.64% return.
SDHA.L
- 1D
- 0.14%
- 1M
- 0.21%
- YTD
- 1.56%
- 6M
- 2.20%
- 1Y
- 7.09%
- 3Y*
- 7.71%
- 5Y*
- 4.65%
- 10Y*
- —
HYFC.L
- 1D
- 0.25%
- 1M
- 0.57%
- YTD
- 0.64%
- 6M
- 0.47%
- 1Y
- 7.82%
- 3Y*
- 7.95%
- 5Y*
- —
- 10Y*
- —
SDHA.L vs. HYFC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SDHA.L iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) | 1.56% | 8.87% | 6.63% | 8.90% | -0.70% |
HYFC.L Invesco US High Yield Fallen Angels UCITS ETF Acc | 0.64% | 9.62% | 5.17% | 10.23% | -3.05% |
Correlation
The correlation between SDHA.L and HYFC.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2022 | 0.77 |
The correlation between SDHA.L and HYFC.L shifts across timeframes, from 0.61 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SDHA.L vs. HYFC.L — Risk / Return Rank
SDHA.L
HYFC.L
SDHA.L vs. HYFC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) (SDHA.L) and Invesco US High Yield Fallen Angels UCITS ETF Acc (HYFC.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.
| SDHA.L | HYFC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.30 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.82 | 1.31 | +2.51 |
| Martin ratioReturn relative to average drawdown | 17.08 | 4.28 | +12.80 |
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
| SDHA.L | HYFC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 1.39 | +0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.83 | -0.08 |
Drawdowns
SDHA.L vs. HYFC.L - Drawdown Comparison
The maximum SDHA.L drawdown since its inception was -17.77%, which is greater than HYFC.L's maximum drawdown of -8.42%. Use the drawdown chart below to compare losses from any high point for SDHA.L and HYFC.L.
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Drawdown Indicators
| SDHA.L | HYFC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.77% | -8.42% | -9.35% |
Max Drawdown (1Y)Largest decline over 1 year | -1.85% | -5.95% | +4.10% |
Max Drawdown (3Y)Largest decline over 3 years | -4.57% | -5.95% | +1.38% |
Max Drawdown (5Y)Largest decline over 5 years | -8.30% | — | — |
Current DrawdownCurrent decline from peak | -0.07% | -2.06% | +1.99% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -1.69% | +0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 1.83% | -1.42% |
Volatility
SDHA.L vs. HYFC.L - Volatility Comparison
The current volatility for iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) (SDHA.L) is 1.32%, while Invesco US High Yield Fallen Angels UCITS ETF Acc (HYFC.L) has a volatility of 1.89%. This indicates that SDHA.L experiences smaller price fluctuations and is considered to be less risky than HYFC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDHA.L | HYFC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 1.89% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 4.83% | -2.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.33% | 5.61% | -2.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.49% | 6.90% | -1.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.39% | 6.90% | -0.51% |
SDHA.L vs. HYFC.L - Expense Ratio Comparison
Both SDHA.L and HYFC.L have an expense ratio of 0.45%.
Dividends
SDHA.L vs. HYFC.L - Dividend Comparison
Neither SDHA.L nor HYFC.L has paid dividends to shareholders.
Frequently Asked Questions
SDHA.L and HYFC.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SDHA.L and HYFC.L have the same expense ratio: 0.45% per year.
SDHA.L tracks Bloomberg US Corporate High Yield TR USD, while HYFC.L tracks FTSE Time-Weighted US Fallen Angel Bond Select Index. They also come from different issuers: iShares and Invesco.
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