SDHG.L vs. HYSD.L
SDHG.L (iShares USD Short Duration High Yield Corporate Bond UCITS ETF) and HYSD.L (iShares Broad $ 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 HYSD.L tracks the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 3 years, SDHG.L returned 5.74%/yr vs 7.92%/yr for HYSD.L. At a 0.01 correlation, their price movements are largely independent. SDHG.L charges 0.45%/yr vs 0.22%/yr for HYSD.L.
Performance
SDHG.L vs. HYSD.L - Performance Comparison
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Returns By Period
In the year-to-date period, SDHG.L achieves a 2.20% return, which is significantly higher than HYSD.L's 1.76% 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%
HYSD.L
- 1D
- -0.21%
- 1M
- 0.10%
- 6M
- 1.29%
- YTD
- 1.76%
- 1Y
- 5.27%
- 3Y*
- 7.92%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.36%
SDHG.L vs. HYSD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SDHG.L iShares USD Short Duration High Yield Corporate Bond UCITS ETF | 2.20% | 1.29% | 8.41% | 2.88% | 1.08% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.76% | 8.24% | 7.60% | 11.75% | -3.60% |
Correlation
The correlation between SDHG.L and HYSD.L is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2022 | 0.01 |
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Return for Risk
SDHG.L vs. HYSD.L — Risk / Return Rank
SDHG.L
HYSD.L
SDHG.L vs. HYSD.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 Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.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 | HYSD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.27 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 2.17 | -0.57 |
| Martin ratioReturn relative to average drawdown | 4.68 | 9.54 | -4.86 |
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Drawdowns
SDHG.L vs. HYSD.L - Drawdown Comparison
The maximum SDHG.L drawdown since its inception was -39.18%, which is greater than HYSD.L's maximum drawdown of -9.53%. Use the drawdown chart below to compare losses from any high point for SDHG.L and HYSD.L.
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Drawdown Indicators
| SDHG.L | HYSD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.18% | -9.53% | -29.65% |
Max Drawdown (1Y)Largest decline over 1 year | -3.79% | -2.42% | -1.37% |
Max Drawdown (3Y)Largest decline over 3 years | -8.95% | -5.02% | -3.93% |
Max Drawdown (5Y)Largest decline over 5 years | -11.66% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -12.32% | — | — |
Current DrawdownCurrent decline from peak | -1.86% | -0.30% | -1.56% |
Average DrawdownAverage peak-to-trough decline | -12.47% | -1.50% | -10.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 0.55% | +0.75% |
Volatility
SDHG.L vs. HYSD.L - Volatility Comparison
iShares USD Short Duration High Yield Corporate Bond UCITS ETF (SDHG.L) has a higher volatility of 1.38% compared to iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.L) at 0.94%. This indicates that SDHG.L's price experiences larger fluctuations and is considered to be riskier than HYSD.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 | HYSD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 0.94% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 4.14% | 3.13% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 3.88% | +1.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.49% | 6.08% | +1.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.64% | 6.08% | +2.56% |
SDHG.L vs. HYSD.L - Expense Ratio Comparison
SDHG.L has a 0.45% expense ratio, which is higher than HYSD.L's 0.22% expense ratio.
Dividends
SDHG.L vs. HYSD.L - Dividend Comparison
SDHG.L's dividend yield for the trailing twelve months is around 6.77%, less than HYSD.L's 7.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 7.40% | 7.39% | 7.39% | 5.61% | 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 | 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 HYSD.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYSD.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYSD.L is cheaper with a 0.22% expense ratio, compared with 0.45% for SDHG.L.
SDHG.L tracks Bloomberg US Corporate High Yield TR USD, while HYSD.L tracks ICE BofA US High Yield Constrained Index. Their fees differ too: 0.45% for SDHG.L and 0.22% for HYSD.L.
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