SDHY.L vs. HYFA.L
SDHY.L ( iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist) and HYFA.L (Invesco US High Yield Fallen Angels UCITS ETF Dist) are both High Yield Bonds funds - SDHY.L tracks the Markit iBoxx USD Liquid High Yield 0-5 Capped Index while HYFA.L tracks the FTSE Time-Weighted US Fallen Angel Bond Select Index. Both are passively managed. Over the past 5 years, SDHY.L returned 4.59%/yr vs 2.50%/yr for HYFA.L. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.45% expense ratio.
Performance
SDHY.L vs. HYFA.L - Performance Comparison
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Returns By Period
In the year-to-date period, SDHY.L achieves a 1.34% return, which is significantly higher than HYFA.L's 0.18% return.
SDHY.L
- 1D
- -0.09%
- 1M
- -0.02%
- YTD
- 1.34%
- 6M
- 2.03%
- 1Y
- 6.87%
- 3Y*
- 7.64%
- 5Y*
- 4.59%
- 10Y*
- 4.89%
HYFA.L
- 1D
- -0.46%
- 1M
- -0.28%
- YTD
- 0.18%
- 6M
- 0.19%
- 1Y
- 7.02%
- 3Y*
- 7.72%
- 5Y*
- 2.50%
- 10Y*
- —
SDHY.L vs. HYFA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDHY.L iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist | 1.34% | 8.90% | 6.50% | 8.75% | -3.27% | 3.42% | 4.07% | 9.61% | 0.27% | 4.27% |
HYFA.L Invesco US High Yield Fallen Angels UCITS ETF Dist | 0.18% | 9.60% | 5.19% | 10.22% | -13.83% | 5.51% | 8.98% | 12.41% | -5.11% | 9.00% |
Correlation
The correlation between SDHY.L and HYFA.L is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 2016 | 0.70 |
The correlation between SDHY.L and HYFA.L shifts across timeframes, from 0.59 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SDHY.L vs. HYFA.L — Risk / Return Rank
SDHY.L
HYFA.L
SDHY.L vs. HYFA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.L) and Invesco US High Yield Fallen Angels UCITS ETF Dist (HYFA.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.
| SDHY.L | HYFA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.25 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 1.32 | +2.43 |
| Martin ratioReturn relative to average drawdown | 16.36 | 5.57 | +10.79 |
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
| SDHY.L | HYFA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 1.27 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.34 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.52 | +0.18 |
Drawdowns
SDHY.L vs. HYFA.L - Drawdown Comparison
The maximum SDHY.L drawdown since its inception was -18.94%, smaller than the maximum HYFA.L drawdown of -29.37%. Use the drawdown chart below to compare losses from any high point for SDHY.L and HYFA.L.
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Drawdown Indicators
| SDHY.L | HYFA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.94% | -29.37% | +10.43% |
Max Drawdown (1Y)Largest decline over 1 year | -1.83% | -5.32% | +3.49% |
Max Drawdown (3Y)Largest decline over 3 years | -4.51% | -5.33% | +0.82% |
Max Drawdown (5Y)Largest decline over 5 years | -8.41% | -17.97% | +9.56% |
Max Drawdown (10Y)Largest decline over 10 years | -18.94% | — | — |
Current DrawdownCurrent decline from peak | -0.28% | -1.18% | +0.90% |
Average DrawdownAverage peak-to-trough decline | -1.28% | -3.97% | +2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 1.26% | -0.84% |
Volatility
SDHY.L vs. HYFA.L - Volatility Comparison
The current volatility for iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.L) is 1.17%, while Invesco US High Yield Fallen Angels UCITS ETF Dist (HYFA.L) has a volatility of 2.21%. This indicates that SDHY.L experiences smaller price fluctuations and is considered to be less risky than HYFA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDHY.L | HYFA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 2.21% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 4.58% | -1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 5.48% | -2.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.45% | 7.44% | -1.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.33% | 8.51% | -2.18% |
SDHY.L vs. HYFA.L - Expense Ratio Comparison
Both SDHY.L and HYFA.L have an expense ratio of 0.45%.
Dividends
SDHY.L vs. HYFA.L - Dividend Comparison
SDHY.L's dividend yield for the trailing twelve months is around 8.32%, more than HYFA.L's 6.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYFA.L Invesco US High Yield Fallen Angels UCITS ETF Dist | 6.60% | 6.57% | 7.05% | 6.73% | 5.78% | 4.63% | 5.86% | 6.08% | 6.18% | 5.46% | 1.22% | 0.00% |
SDHY.L iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist | 8.32% | 6.59% | 6.41% | 5.64% | 4.31% | 4.24% | 4.80% | 5.26% | 5.48% | 5.42% | 5.68% | 5.05% |
Frequently Asked Questions
SDHY.L and HYFA.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SDHY.L and HYFA.L have the same expense ratio: 0.45% per year.
SDHY.L tracks Markit iBoxx USD Liquid High Yield 0-5 Capped Index, while HYFA.L tracks FTSE Time-Weighted US Fallen Angel Bond Select Index. They also come from different issuers: iShares and Invesco.
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