SDHG.L vs. GHYG.L
SDHG.L (iShares USD Short Duration High Yield Corporate Bond UCITS ETF) and GHYG.L (iShares Global High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) are both High Yield Bonds funds from iShares - SDHG.L tracks the Bloomberg US Corporate High Yield TR USD while GHYG.L tracks the ICE BofA Gbl HY Constnd TR HGBP. Both are passively managed. Over the past 5 years, SDHG.L returned 5.03%/yr vs 3.55%/yr for GHYG.L. At a 0.09 correlation, their price movements are largely independent. SDHG.L charges 0.45%/yr vs 0.55%/yr for GHYG.L.
Performance
SDHG.L vs. GHYG.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SDHG.L achieves a 2.20% return, which is significantly higher than GHYG.L's 1.85% return.
SDHG.L
- 1D
- 0.08%
- 1M
- -1.28%
- 6M
- 1.92%
- YTD
- 2.20%
- 1Y
- 6.08%
- 3Y*
- 5.74%
- 5Y*
- 5.03%
- 10Y*
- 4.47%
- ALL TIME*
- 1.82%
GHYG.L
- 1D
- 0.00%
- 1M
- 0.43%
- 6M
- 1.64%
- YTD
- 1.85%
- 1Y
- 5.43%
- 3Y*
- 7.85%
- 5Y*
- 3.55%
- 10Y*
- —
- ALL TIME*
- 3.77%
SDHG.L vs. GHYG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SDHG.L iShares USD Short Duration High Yield Corporate Bond UCITS ETF | 2.20% | 1.29% | 8.41% | 2.88% | 8.13% | 4.95% | 0.42% | 1.25% |
GHYG.L iShares Global High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.85% | 7.85% | 7.10% | 10.89% | -9.48% | 3.58% | 2.27% | 4.47% |
Correlation
The correlation between SDHG.L and GHYG.L is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2019 | 0.09 |
The correlation between SDHG.L and GHYG.L shifts across timeframes, from -0.06 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SDHG.L vs. GHYG.L — Risk / Return Rank
SDHG.L
GHYG.L
SDHG.L vs. GHYG.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 iShares Global High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (GHYG.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.
| SDHG.L | GHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.28 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 2.11 | -0.51 |
| Martin ratioReturn relative to average drawdown | 4.68 | 8.77 | -4.09 |
Loading charts...
Drawdowns
SDHG.L vs. GHYG.L - Drawdown Comparison
The maximum SDHG.L drawdown since its inception was -39.18%, which is greater than GHYG.L's maximum drawdown of -23.08%. Use the drawdown chart below to compare losses from any high point for SDHG.L and GHYG.L.
Loading charts...
Drawdown Indicators
| SDHG.L | GHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.18% | -23.08% | -16.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.79% | -2.56% | -1.23% |
Max Drawdown (3Y)Largest decline over 3 years | -8.95% | -4.51% | -4.44% |
Max Drawdown (5Y)Largest decline over 5 years | -11.66% | -14.41% | +2.75% |
Max Drawdown (10Y)Largest decline over 10 years | -12.32% | — | — |
Current DrawdownCurrent decline from peak | -1.86% | -0.43% | -1.43% |
Average DrawdownAverage peak-to-trough decline | -12.47% | -2.95% | -9.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 0.62% | +0.68% |
Volatility
SDHG.L vs. GHYG.L - Volatility Comparison
iShares USD Short Duration High Yield Corporate Bond UCITS ETF (SDHG.L) and iShares Global High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (GHYG.L) have volatilities of 1.38% and 1.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SDHG.L | GHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 1.32% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 4.14% | 3.46% | +0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 4.07% | +1.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.49% | 6.05% | +1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.64% | 7.95% | +0.69% |
SDHG.L vs. GHYG.L - Expense Ratio Comparison
SDHG.L has a 0.45% expense ratio, which is lower than GHYG.L's 0.55% expense ratio.
Dividends
SDHG.L vs. GHYG.L - Dividend Comparison
SDHG.L's dividend yield for the trailing twelve months is around 6.77%, less than GHYG.L's 6.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYG.L iShares Global High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 6.84% | 5.34% | 5.26% | 4.70% | 4.14% | 3.73% | 4.55% | 1.78% | 0.00% | 0.00% | 0.00% | 0.00% |
SDHG.L iShares USD Short Duration High Yield Corporate Bond UCITS ETF | 6.77% | 6.56% | 6.32% | 5.63% | 4.24% | 4.19% | 5.08% | 5.39% | 5.41% | 5.60% | 5.32% | 4.92% |
Frequently Asked Questions
SDHG.L and GHYG.L have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SDHG.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SDHG.L is cheaper with a 0.45% expense ratio, compared with 0.55% for GHYG.L.
SDHG.L tracks Bloomberg US Corporate High Yield TR USD, while GHYG.L tracks ICE BofA Gbl HY Constnd TR HGBP. Their fees differ too: 0.45% for SDHG.L and 0.55% for GHYG.L.
Find the right allocation for SDHG.L and GHYG.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer