SDHA.L vs. JHYP.L
SDHA.L (iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc)) and JHYP.L (JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist)) are both High Yield Bonds funds - SDHA.L tracks the Bloomberg US Corporate High Yield TR USD while JHYP.L tracks the ICE BofA Gbl HY Constnd TR HGBP. Both are passively managed. Over the past 5 years, SDHA.L returned 4.65%/yr vs 2.60%/yr for JHYP.L. A 0.56 correlation means they provide meaningful diversification when combined. SDHA.L charges 0.45%/yr vs 0.35%/yr for JHYP.L.
Performance
SDHA.L vs. JHYP.L - Performance Comparison
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Different Trading Currencies
SDHA.L is traded in USD, while JHYP.L is traded in GBP. To make them comparable, the JHYP.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 lower than JHYP.L's 1.89% 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*
- —
JHYP.L
- 1D
- 0.18%
- 1M
- -0.21%
- YTD
- 1.89%
- 6M
- 3.64%
- 1Y
- 7.39%
- 3Y*
- 11.55%
- 5Y*
- 2.60%
- 10Y*
- —
SDHA.L vs. JHYP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
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% | 11.38% |
JHYP.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) | 1.89% | 17.50% | 5.90% | 15.59% | -19.64% | 2.04% | 24.52% |
Correlation
The correlation between SDHA.L and JHYP.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since May 1, 2020 | 0.56 |
The correlation between SDHA.L and JHYP.L has been stable across timeframes, ranging from 0.49 to 0.57 - a consistent structural relationship.
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Return for Risk
SDHA.L vs. JHYP.L — Risk / Return Rank
SDHA.L
JHYP.L
SDHA.L vs. JHYP.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 JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.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 | JHYP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.15 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.82 | 1.11 | +2.70 |
| Martin ratioReturn relative to average drawdown | 17.08 | 3.30 | +13.78 |
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 | JHYP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 0.86 | +1.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 0.22 | +0.63 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.58 | +0.17 |
Drawdowns
SDHA.L vs. JHYP.L - Drawdown Comparison
The maximum SDHA.L drawdown since its inception was -17.77%, smaller than the maximum JHYP.L drawdown of -34.73%. Use the drawdown chart below to compare losses from any high point for SDHA.L and JHYP.L.
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Drawdown Indicators
| SDHA.L | JHYP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.77% | -34.73% | +16.96% |
Max Drawdown (1Y)Largest decline over 1 year | -1.85% | -6.61% | +4.76% |
Max Drawdown (3Y)Largest decline over 3 years | -4.57% | -10.10% | +5.53% |
Max Drawdown (5Y)Largest decline over 5 years | -8.30% | -34.73% | +26.43% |
Current DrawdownCurrent decline from peak | -0.07% | -1.48% | +1.41% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -8.44% | +7.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 2.23% | -1.82% |
Volatility
SDHA.L vs. JHYP.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 JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.L) has a volatility of 2.38%. This indicates that SDHA.L experiences smaller price fluctuations and is considered to be less risky than JHYP.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 | JHYP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 2.38% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 6.02% | -3.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.33% | 8.54% | -5.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.49% | 11.85% | -6.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.39% | 11.73% | -5.34% |
SDHA.L vs. JHYP.L - Expense Ratio Comparison
SDHA.L has a 0.45% expense ratio, which is higher than JHYP.L's 0.35% expense ratio.
Dividends
SDHA.L vs. JHYP.L - Dividend Comparison
SDHA.L has not paid dividends to shareholders, while JHYP.L's dividend yield for the trailing twelve months is around 5.97%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
JHYP.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) | 5.97% | 6.58% | 5.96% | 8.55% | 5.62% | 4.37% | 0.69% |
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% |
Frequently Asked Questions
SDHA.L and JHYP.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JHYP.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JHYP.L is cheaper with a 0.35% expense ratio, compared with 0.45% for SDHA.L.
SDHA.L tracks Bloomberg US Corporate High Yield TR USD, while JHYP.L tracks ICE BofA Gbl HY Constnd TR HGBP. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.45% for SDHA.L and 0.35% for JHYP.L.
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