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SDHA.L vs. IHYG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SDHA.L vs. IHYG.L

Last updated Jun 5, 2026

SDHA.L (iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc)) and IHYG.L (iShares € High Yield Corp Bond UCITS ETF EUR (Dist)) are both exchange-traded funds - SDHA.L is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD, while IHYG.L is a European High Yield Bonds fund tracking the Markit iBoxx Euro Liquid High Yield Index. Both are passively managed. Over the past 5 years, SDHA.L returned 4.65%/yr vs 1.73%/yr for IHYG.L. At a 0.49 correlation, their price movements are largely independent. SDHA.L charges 0.45%/yr vs 0.50%/yr for IHYG.L.

Performance

SDHA.L vs. IHYG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) (SDHA.L) and iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SDHA.L is traded in USD, while IHYG.L is traded in EUR. To make them comparable, the IHYG.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SDHA.L achieves a 1.56% return, which is significantly higher than IHYG.L's -0.45% 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*
—

IHYG.L

1D
0.19%
1M
0.21%
YTD
-0.45%
6M
1.09%
1Y
4.92%
3Y*
9.20%
5Y*
1.73%
10Y*
3.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SDHA.L vs. IHYG.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
SDHA.L
iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc)		1.56%8.87%6.63%8.90%-3.48%3.62%3.98%9.51%-0.74%
IHYG.L
iShares € High Yield Corp Bond UCITS ETF EUR (Dist)		-0.45%19.47%-0.83%14.86%-14.91%-3.98%10.09%7.57%-4.06%

Correlation

The correlation between SDHA.L and IHYG.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.44

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

0.45

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

0.51

Correlation (All Time)
Calculated using the full available price history since Jul 4, 2018

0.49

The correlation between SDHA.L and IHYG.L has been stable across timeframes, ranging from 0.44 to 0.51 - a consistent structural relationship.

SDHA.L vs. IHYG.L - Sectors Allocation Comparison

Sectors
SDHA.L
IHYG.L

Utilities

77.9%

-

Real Estate

22.1%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

100.0%

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

SDHA.L
77.9%
IHYG.L

-

Real Estate

SDHA.L
22.1%
IHYG.L

-

Basic Materials

SDHA.L

-

IHYG.L

-

Communication Services

SDHA.L

-

IHYG.L

-

Consumer Cyclical

SDHA.L

-

IHYG.L

-

Consumer Defensive

SDHA.L

-

IHYG.L

-

Energy

SDHA.L

-

IHYG.L

-

Financial Services

SDHA.L

-

IHYG.L
100.0%

Healthcare

SDHA.L

-

IHYG.L

-

Industrials

SDHA.L

-

IHYG.L

-

Technology

SDHA.L

-

IHYG.L

-

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iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc)

iShares € High Yield Corp Bond UCITS ETF EUR (Dist)

Often compared with SDHA.L:
SDHA.L vs. SDHG.LSDHA.L vs. ERNA.LSDHA.L vs. LQDWSDHA.L vs. IWDA.LSDHA.L vs. HYEMSDHA.L vs. ISAC.LSDHA.L vs. VOO
Often compared with IHYG.L:
IHYG.L vs. IEAC.ASIHYG.L vs. XAT1.DEIHYG.L vs. XHYA.DEIHYG.L vs. GLDIHYG.L vs. YIEL.LIHYG.L vs. XHYG.LIHYG.L vs. EUNL.DE

Return for Risk

SDHA.L vs. IHYG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SDHA.L
SDHA.L Risk / Return Rank: 7474
Overall Rank
SDHA.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
SDHA.L Sortino Ratio Rank: 7575
Sortino Ratio Rank
SDHA.L Omega Ratio Rank: 7070
Omega Ratio Rank
SDHA.L Calmar Ratio Rank: 7777
Calmar Ratio Rank
SDHA.L Martin Ratio Rank: 8484
Martin Ratio Rank
IHYG.L
IHYG.L Risk / Return Rank: 2727
Overall Rank
IHYG.L Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
IHYG.L Sortino Ratio Rank: 2727
Sortino Ratio Rank
IHYG.L Omega Ratio Rank: 2626
Omega Ratio Rank
IHYG.L Calmar Ratio Rank: 2525
Calmar Ratio Rank
IHYG.L Martin Ratio Rank: 3232
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.

SDHA.L vs. IHYG.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 iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.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.LIHYG.LDifference
Sharpe ratioReturn per unit of total volatility
2.13
0.64

+1.49

Sortino ratioReturn per unit of downside risk
3.33
0.98

+2.35

Omega ratioGain probability vs. loss probability

1.41

1.12

+0.29

Calmar ratioReturn relative to maximum drawdown

3.82

0.67

+3.15

Martin ratioReturn relative to average drawdown

17.08

1.95

+15.12

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDHA.L vs. IHYG.L - Sharpe Ratio Comparison

The current SDHA.L Sharpe Ratio is 2.13, which is higher than the IHYG.L Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of SDHA.L and IHYG.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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Sharpe Ratios by Period

SDHA.LIHYG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.13

0.64

+1.49

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.85

0.16

+0.69

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.31

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.75

0.31

+0.45

Drawdowns

SDHA.L vs. IHYG.L - Drawdown Comparison

The maximum SDHA.L drawdown since its inception was -17.77%, smaller than the maximum IHYG.L drawdown of -31.65%. Use the drawdown chart below to compare losses from any high point for SDHA.L and IHYG.L.

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Drawdown Indicators

SDHA.LIHYG.LDifference

Max Drawdown

Largest peak-to-trough decline

-17.77%

-31.65%

+13.88%

Max Drawdown (1Y)

Largest decline over 1 year

-1.85%

-7.35%

+5.50%

Max Drawdown (3Y)

Largest decline over 3 years

-4.57%

-7.60%

+3.03%

Max Drawdown (5Y)

Largest decline over 5 years

-8.30%

-31.65%

+23.35%

Max Drawdown (10Y)

Largest decline over 10 years

—

-31.65%

—

Current Drawdown

Current decline from peak

-0.07%

-3.15%

+3.08%

Average Drawdown

Average peak-to-trough decline

-1.25%

-9.00%

+7.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.41%

2.51%

-2.10%

Volatility

SDHA.L vs. IHYG.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 iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L) has a volatility of 2.05%. This indicates that SDHA.L experiences smaller price fluctuations and is considered to be less risky than IHYG.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.LIHYG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.32%

2.05%

-0.73%

Volatility (6M)

Calculated over the trailing 6-month period

2.69%

5.81%

-3.12%

Volatility (1Y)

Calculated over the trailing 1-year period

3.33%

7.67%

-4.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.49%

10.61%

-5.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.39%

10.78%

-4.39%

SDHA.L vs. IHYG.L - Expense Ratio Comparison

SDHA.L has a 0.45% expense ratio, which is lower than IHYG.L's 0.50% expense ratio.

Dividends

SDHA.L vs. IHYG.L - Dividend Comparison

SDHA.L has not paid dividends to shareholders, while IHYG.L's dividend yield for the trailing twelve months is around 5.17%.

PositionTTM20252024202320222021202020192018201720162015
IHYG.L
iShares € High Yield Corp Bond UCITS ETF EUR (Dist)		5.17%5.44%6.10%5.41%3.70%3.07%3.67%3.76%3.68%3.77%4.03%4.59%
SDHA.L
iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc)		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

SDHA.L and IHYG.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SDHA.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SDHA.L is cheaper with a 0.45% expense ratio, compared with 0.50% for IHYG.L.

SDHA.L is categorized as High Yield Bonds, while IHYG.L is European High Yield Bonds. SDHA.L tracks Bloomberg US Corporate High Yield TR USD, while IHYG.L tracks Markit iBoxx Euro Liquid High Yield Index. Their fees differ too: 0.45% for SDHA.L and 0.50% for IHYG.L.

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