SDHG.L vs. GHYS.L
SDHG.L (iShares USD Short Duration High Yield Corporate Bond UCITS ETF) and GHYS.L (iShares Global High Yield Corp Bond GBP Hedged UCITS ETF) are both High Yield Bonds funds from iShares - SDHG.L tracks the Bloomberg US Corporate High Yield TR USD while GHYS.L tracks the Markit iBoxx Global Developed Markets Liquid High Yield Capped Index (GBP Hedged). Both are passively managed. Over the past 10 years, SDHG.L returned 7.60%/yr vs 4.09%/yr for GHYS.L. At a 0.12 correlation, their price movements are largely independent. SDHG.L charges 0.45%/yr vs 0.55%/yr for GHYS.L.
Performance
SDHG.L vs. GHYS.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 higher than GHYS.L's 1.32% return. Over the past 10 years, SDHG.L has outperformed GHYS.L with an annualized return of 7.60%, while GHYS.L has yielded a comparatively lower 4.09% annualized 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%
GHYS.L
- 1D
- 0.09%
- 1M
- 0.42%
- YTD
- 1.32%
- 6M
- 1.62%
- 1Y
- 5.61%
- 3Y*
- 7.87%
- 5Y*
- 3.51%
- 10Y*
- 4.09%
SDHG.L vs. GHYS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 7.80% | -3.56% |
GHYS.L iShares Global High Yield Corp Bond GBP Hedged UCITS ETF | 1.32% | 7.56% | 6.95% | 11.60% | -9.89% | 3.60% | 2.71% | 11.10% | -3.20% | 4.61% |
Correlation
The correlation between SDHG.L and GHYS.L is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2013 | 0.12 |
The correlation between SDHG.L and GHYS.L shifts across timeframes, from -0.10 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SDHG.L vs. GHYS.L — Risk / Return Rank
SDHG.L
GHYS.L
SDHG.L vs. GHYS.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 GBP Hedged UCITS ETF (GHYS.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 | GHYS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.24 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | 1.88 | +1.75 |
| Martin ratioReturn relative to average drawdown | 11.43 | 8.55 | +2.87 |
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 | GHYS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 1.27 | +0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.00 | 0.59 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | 0.57 | +0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.58 | +0.27 |
Drawdowns
SDHG.L vs. GHYS.L - Drawdown Comparison
The maximum SDHG.L drawdown since its inception was -11.44%, smaller than the maximum GHYS.L drawdown of -25.15%. Use the drawdown chart below to compare losses from any high point for SDHG.L and GHYS.L.
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Drawdown Indicators
| SDHG.L | GHYS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.44% | -25.15% | +13.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.00% | -2.97% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -8.95% | -4.54% | -4.41% |
Max Drawdown (5Y)Largest decline over 5 years | -10.53% | -14.70% | +4.17% |
Max Drawdown (10Y)Largest decline over 10 years | -11.44% | -25.15% | +13.71% |
Current DrawdownCurrent decline from peak | -0.37% | -0.34% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -3.15% | -2.29% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.65% | +0.30% |
Volatility
SDHG.L vs. GHYS.L - Volatility Comparison
iShares USD Short Duration High Yield Corporate Bond UCITS ETF (SDHG.L) and iShares Global High Yield Corp Bond GBP Hedged UCITS ETF (GHYS.L) have volatilities of 1.48% and 1.48%, 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.
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Volatility by Period
| SDHG.L | GHYS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.48% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 4.11% | 3.79% | +0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.88% | 4.40% | +1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 5.98% | +1.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.19% | 7.15% | +2.04% |
SDHG.L vs. GHYS.L - Expense Ratio Comparison
SDHG.L has a 0.45% expense ratio, which is lower than GHYS.L's 0.55% expense ratio.
Dividends
SDHG.L vs. GHYS.L - Dividend Comparison
SDHG.L's dividend yield for the trailing twelve months is around 11.18%, more than GHYS.L's 5.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYS.L iShares Global High Yield Corp Bond GBP Hedged UCITS ETF | 5.73% | 5.68% | 5.78% | 5.36% | 4.41% | 3.78% | 4.08% | 5.03% | 4.89% | 4.58% | 4.91% | 5.65% |
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 GHYS.L have a correlation of -0.10, 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 GHYS.L.
SDHG.L tracks Bloomberg US Corporate High Yield TR USD, while GHYS.L tracks Markit iBoxx Global Developed Markets Liquid High Yield Capped Index (GBP Hedged). Their fees differ too: 0.45% for SDHG.L and 0.55% for GHYS.L.
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