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SDHG.L vs. VUSA.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SDHG.L vs. VUSA.AS

Last updated Jun 5, 2026

SDHG.L (iShares USD Short Duration High Yield Corporate Bond UCITS ETF) and VUSA.AS (Vanguard S&P 500 UCITS ETF) are both exchange-traded funds - SDHG.L is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD, while VUSA.AS is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SDHG.L returned 7.60%/yr vs 16.07%/yr for VUSA.AS. A 0.51 correlation means they provide meaningful diversification when combined. SDHG.L charges 0.45%/yr vs 0.07%/yr for VUSA.AS.

Performance

SDHG.L vs. VUSA.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares USD Short Duration High Yield Corporate Bond UCITS ETF (SDHG.L) and Vanguard S&P 500 UCITS ETF (VUSA.AS). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SDHG.L is traded in GBP, while VUSA.AS is traded in EUR. To make them comparable, the VUSA.AS values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, SDHG.L achieves a 2.17% return, which is significantly lower than VUSA.AS's 10.77% return. Over the past 10 years, SDHG.L has underperformed VUSA.AS with an annualized return of 7.60%, while VUSA.AS has yielded a comparatively higher 16.07% 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%

VUSA.AS

1D
0.02%
1M
5.47%
YTD
10.77%
6M
10.38%
1Y
29.03%
3Y*
19.01%
5Y*
14.93%
10Y*
16.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SDHG.L vs. VUSA.AS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
VUSA.AS
Vanguard S&P 500 UCITS ETF		10.77%9.46%27.78%19.68%-9.74%32.03%13.81%25.44%0.62%11.24%

Correlation

The correlation between SDHG.L and VUSA.AS is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.30

Correlation (3Y)
Calculated over the trailing 3-year period

0.39

Correlation (5Y)
Calculated over the trailing 5-year period

0.38

Correlation (10Y)
Calculated over the trailing 10-year period

0.50

Correlation (All Time)
Calculated using the full available price history since Oct 22, 2013

0.51

Over the past year, the correlation between SDHG.L and VUSA.AS has dropped to 0.30 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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iShares USD Short Duration High Yield Corporate Bond UCITS ETF

Vanguard S&P 500 UCITS ETF

Often compared with SDHG.L:
SDHG.L vs. SDHA.LSDHG.L vs. BNDXSDHG.L vs. USHYSDHG.L vs. BNDSDHG.L vs. BNDWSDHG.L vs. IHYA.LSDHG.L vs. IVV
Often compared with VUSA.AS:
VUSA.AS vs. VUAA.LVUSA.AS vs. VUAG.LVUSA.AS vs. VWRL.ASVUSA.AS vs. VHYL.ASVUSA.AS vs. VOOVUSA.AS vs. IUSA.DEVUSA.AS vs. VEVE.AS

Return for Risk

SDHG.L vs. VUSA.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SDHG.L
SDHG.L Risk / Return Rank: 6161
Overall Rank
SDHG.L Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
SDHG.L Sortino Ratio Rank: 6060
Sortino Ratio Rank
SDHG.L Omega Ratio Rank: 5454
Omega Ratio Rank
SDHG.L Calmar Ratio Rank: 7474
Calmar Ratio Rank
SDHG.L Martin Ratio Rank: 6363
Martin Ratio Rank
VUSA.AS
VUSA.AS Risk / Return Rank: 7070
Overall Rank
VUSA.AS Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
VUSA.AS Sortino Ratio Rank: 6767
Sortino Ratio Rank
VUSA.AS Omega Ratio Rank: 7171
Omega Ratio Rank
VUSA.AS Calmar Ratio Rank: 7272
Calmar Ratio Rank
VUSA.AS Martin Ratio Rank: 7070
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SDHG.L vs. VUSA.AS - 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 Vanguard S&P 500 UCITS ETF (VUSA.AS). 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.LVUSA.ASDifference
Sharpe ratioReturn per unit of total volatility
1.85
2.64

-0.78

Sortino ratioReturn per unit of downside risk
2.79
3.56

-0.77

Omega ratioGain probability vs. loss probability

1.33

1.49

-0.15

Calmar ratioReturn relative to maximum drawdown

3.63

4.04

-0.41

Martin ratioReturn relative to average drawdown

11.43

14.59

-3.16

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDHG.L vs. VUSA.AS - Sharpe Ratio Comparison

The current SDHG.L Sharpe Ratio is 1.85, which is comparable to the VUSA.AS Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of SDHG.L and VUSA.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SDHG.LVUSA.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.85

2.64

-0.78

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.00

1.00

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.83

0.99

-0.16

Sharpe Ratio (All Time)

Calculated using the full available price history

0.86

0.97

-0.11

Drawdowns

SDHG.L vs. VUSA.AS - Drawdown Comparison

The maximum SDHG.L drawdown since its inception was -11.44%, smaller than the maximum VUSA.AS drawdown of -26.22%. Use the drawdown chart below to compare losses from any high point for SDHG.L and VUSA.AS.

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Drawdown Indicators

SDHG.LVUSA.ASDifference

Max Drawdown

Largest peak-to-trough decline

-11.44%

-26.22%

+14.78%

Max Drawdown (1Y)

Largest decline over 1 year

-3.00%

-7.08%

+4.08%

Max Drawdown (3Y)

Largest decline over 3 years

-8.95%

-21.93%

+12.98%

Max Drawdown (5Y)

Largest decline over 5 years

-10.53%

-21.93%

+11.40%

Max Drawdown (10Y)

Largest decline over 10 years

-11.44%

-26.22%

+14.78%

Current Drawdown

Current decline from peak

-0.37%

-0.23%

-0.14%

Average Drawdown

Average peak-to-trough decline

-3.15%

-3.32%

+0.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.95%

1.98%

-1.03%

Volatility

SDHG.L vs. VUSA.AS - Volatility Comparison

The current volatility for iShares USD Short Duration High Yield Corporate Bond UCITS ETF (SDHG.L) is 1.48%, while Vanguard S&P 500 UCITS ETF (VUSA.AS) has a volatility of 3.00%. This indicates that SDHG.L experiences smaller price fluctuations and is considered to be less risky than VUSA.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SDHG.LVUSA.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.48%

3.00%

-1.52%

Volatility (6M)

Calculated over the trailing 6-month period

4.11%

7.31%

-3.20%

Volatility (1Y)

Calculated over the trailing 1-year period

5.88%

10.86%

-4.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.58%

14.68%

-7.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.19%

15.95%

-6.76%

SDHG.L vs. VUSA.AS - Expense Ratio Comparison

SDHG.L has a 0.45% expense ratio, which is higher than VUSA.AS's 0.07% expense ratio.

Dividends

SDHG.L vs. VUSA.AS - Dividend Comparison

SDHG.L's dividend yield for the trailing twelve months is around 11.18%, more than VUSA.AS's 0.87% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VUSA.AS
Vanguard S&P 500 UCITS ETF		0.87%0.97%0.99%1.26%1.45%1.02%1.43%1.46%1.74%1.64%1.66%1.76%

Frequently Asked Questions

SDHG.L and VUSA.AS have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VUSA.AS is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VUSA.AS is cheaper with a 0.07% expense ratio, compared with 0.45% for SDHG.L.

SDHG.L is categorized as High Yield Bonds, while VUSA.AS is S&P 500. SDHG.L tracks Bloomberg US Corporate High Yield TR USD, while VUSA.AS tracks S&P 500 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.45% for SDHG.L and 0.07% for VUSA.AS.

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