SDHG.L vs. GFGB.L
SDHG.L (iShares USD Short Duration High Yield Corporate Bond UCITS ETF) and GFGB.L (VanEck Global Fallen Angel High Yield Bond UCITS ETF) are both High Yield Bonds funds - SDHG.L tracks the Bloomberg US Corporate High Yield TR USD while GFGB.L tracks the ICE BofA Gbl HY Constnd TR USD. Both are passively managed. Over the past 5 years, SDHG.L returned 7.59%/yr vs 4.31%/yr for GFGB.L. Their correlation of 0.83 suggests significant overlap in exposure. SDHG.L charges 0.45%/yr vs 0.40%/yr for GFGB.L.
Performance
SDHG.L vs. GFGB.L - Performance Comparison
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Returns By Period
In the year-to-date period, SDHG.L achieves a 2.17% return, which is significantly lower than GFGB.L's 3.80% return.
SDHG.L
- 1D
- 0.26%
- 1M
- 1.12%
- YTD
- 2.17%
- 6M
- 3.15%
- 1Y
- 11.14%
- 3Y*
- 7.16%
- 5Y*
- 7.59%
- 10Y*
- 7.60%
GFGB.L
- 1D
- 0.23%
- 1M
- 1.74%
- YTD
- 3.80%
- 6M
- 3.63%
- 1Y
- 9.92%
- 3Y*
- 6.58%
- 5Y*
- 4.31%
- 10Y*
- —
SDHG.L vs. GFGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SDHG.L iShares USD Short Duration High Yield Corporate Bond UCITS ETF | 2.17% | 3.69% | 10.34% | 4.51% | 9.19% | 6.61% | 1.92% | 7.77% | 12.77% |
GFGB.L VanEck Global Fallen Angel High Yield Bond UCITS ETF | 3.80% | 2.41% | 7.87% | 4.27% | -2.32% | 3.31% | 13.08% | 9.77% | 6.75% |
Correlation
The correlation between SDHG.L and GFGB.L is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2018 | 0.83 |
The correlation between SDHG.L and GFGB.L has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.
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Return for Risk
SDHG.L vs. GFGB.L — Risk / Return Rank
SDHG.L
GFGB.L
SDHG.L vs. GFGB.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 (SDHG.L) and VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFGB.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.
| SDHG.L | GFGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.28 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | 3.25 | +0.38 |
| Martin ratioReturn relative to average drawdown | 11.43 | 8.50 | +2.93 |
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
| SDHG.L | GFGB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 1.43 | +0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.00 | 0.55 | +0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.67 | +0.19 |
Drawdowns
SDHG.L vs. GFGB.L - Drawdown Comparison
The maximum SDHG.L drawdown since its inception was -11.44%, smaller than the maximum GFGB.L drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for SDHG.L and GFGB.L.
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Drawdown Indicators
| SDHG.L | GFGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.44% | -15.95% | +4.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.00% | -3.04% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -8.95% | -7.54% | -1.41% |
Max Drawdown (5Y)Largest decline over 5 years | -10.53% | -10.36% | -0.17% |
Max Drawdown (10Y)Largest decline over 10 years | -11.44% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | -1.13% | +0.76% |
Average DrawdownAverage peak-to-trough decline | -3.15% | -2.52% | -0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 1.16% | -0.21% |
Volatility
SDHG.L vs. GFGB.L - Volatility Comparison
The current volatility for iShares USD Short Duration High Yield Corporate Bond UCITS ETF (SDHG.L) is 1.48%, while VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFGB.L) has a volatility of 3.51%. This indicates that SDHG.L experiences smaller price fluctuations and is considered to be less risky than GFGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDHG.L | GFGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 3.51% | -2.03% |
Volatility (6M)Calculated over the trailing 6-month period | 4.11% | 5.86% | -1.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.88% | 6.89% | -1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 7.81% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.19% | 8.80% | +0.39% |
SDHG.L vs. GFGB.L - Expense Ratio Comparison
SDHG.L has a 0.45% expense ratio, which is higher than GFGB.L's 0.40% expense ratio.
Dividends
SDHG.L vs. GFGB.L - Dividend Comparison
SDHG.L's dividend yield for the trailing twelve months is around 11.18%, while GFGB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GFGB.L VanEck Global Fallen Angel High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SDHG.L iShares USD Short Duration High Yield Corporate Bond UCITS ETF | 11.18% | 8.87% | 8.03% | 7.20% | 5.20% | 5.72% | 6.58% | 6.95% | 7.01% | 7.33% | 6.99% | 7.49% |
Frequently Asked Questions
SDHG.L and GFGB.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GFGB.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GFGB.L is cheaper with a 0.40% expense ratio, compared with 0.45% for SDHG.L.
SDHG.L tracks Bloomberg US Corporate High Yield TR USD, while GFGB.L tracks ICE BofA Gbl HY Constnd TR USD. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.45% for SDHG.L and 0.40% for GFGB.L.
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