SDHY.L vs. HYFC.L

Last updated Jun 5, 2026

SDHY.L ( iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist) and HYFC.L (Invesco US High Yield Fallen Angels UCITS ETF Acc) are both High Yield Bonds funds - SDHY.L tracks the Markit iBoxx USD Liquid High Yield 0-5 Capped Index while HYFC.L tracks the FTSE Time-Weighted US Fallen Angel Bond Select Index. Both are passively managed. Over the past 3 years, SDHY.L returned 7.61%/yr vs 7.95%/yr for HYFC.L. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.45% expense ratio.

Performance

SDHY.L vs. HYFC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.L) and Invesco US High Yield Fallen Angels UCITS ETF Acc (HYFC.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SDHY.L achieves a 1.43% return, which is significantly higher than HYFC.L's 0.64% return.

SDHY.L

• 1D: 0.13%
• 1M: 0.07%
• YTD: 1.43%
• 6M: 2.13%
• 1Y: 6.97%
• 3Y*: 7.61%
• 5Y*: 4.61%
• 10Y*: 4.95%

HYFC.L

• 1D: 0.25%
• 1M: -0.03%
• YTD: 0.64%
• 6M: 0.64%
• 1Y: 7.47%
• 3Y*: 7.95%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SDHY.L vs. HYFC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SDHY.L iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist	1.43%	8.90%	6.50%	8.75%	-0.45%
HYFC.L Invesco US High Yield Fallen Angels UCITS ETF Acc	0.64%	9.62%	5.17%	10.23%	-3.05%

Correlation

The correlation between SDHY.L and HYFC.L is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (All Time) Calculated using the full available price history since Aug 2, 2022	0.76

The correlation between SDHY.L and HYFC.L shifts across timeframes, from 0.64 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SDHY.L vs. HYFC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SDHY.L

SDHY.L Risk / Return Rank: 73
SDHY.L Sharpe Ratio Rank: 63
SDHY.L Sortino Ratio Rank: 72
SDHY.L Omega Ratio Rank: 66
SDHY.L Calmar Ratio Rank: 78
SDHY.L Martin Ratio Rank: 85

HYFC.L

HYFC.L Risk / Return Rank: 38
HYFC.L Sharpe Ratio Rank: 40
HYFC.L Sortino Ratio Rank: 42
HYFC.L Omega Ratio Rank: 48
HYFC.L Calmar Ratio Rank: 28
HYFC.L Martin Ratio Rank: 30

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.

SDHY.L vs. HYFC.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 Acc (HYFC.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	HYFC.L	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.39	+0.70
Sortino ratio: Return per unit of downside risk	3.19	2.10	+1.10
Omega ratio: Gain probability vs. loss probability	1.39	1.30	+0.09
Calmar ratio: Return relative to maximum drawdown	3.91	1.31	+2.60
Martin ratio: Return relative to average drawdown	17.14	4.28	+12.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDHY.L vs. HYFC.L - Sharpe Ratio Comparison

The current SDHY.L Sharpe Ratio is 2.09, which is higher than the HYFC.L Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of SDHY.L and HYFC.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SDHY.L	HYFC.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	1.39	+0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.83	-0.15

Drawdowns

SDHY.L vs. HYFC.L - Drawdown Comparison

The maximum SDHY.L drawdown since its inception was -18.94%, which is greater than HYFC.L's maximum drawdown of -8.42%. Use the drawdown chart below to compare losses from any high point for SDHY.L and HYFC.L.

Drawdown Indicators

	SDHY.L	HYFC.L	Difference
Max Drawdown Largest peak-to-trough decline	-18.94%	-8.42%	-10.52%
Max Drawdown (1Y) Largest decline over 1 year	-1.83%	-5.95%	+4.12%
Max Drawdown (3Y) Largest decline over 3 years	-4.51%	-5.95%	+1.44%
Max Drawdown (5Y) Largest decline over 5 years	-8.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.94%	—	—
Current Drawdown Current decline from peak	-0.19%	-2.06%	+1.87%
Average Drawdown Average peak-to-trough decline	-1.28%	-1.69%	+0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.42%	1.83%	-1.41%

Volatility

SDHY.L vs. HYFC.L - Volatility Comparison

The current volatility for iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.L) is 1.16%, while Invesco US High Yield Fallen Angels UCITS ETF Acc (HYFC.L) has a volatility of 1.89%. This indicates that SDHY.L experiences smaller price fluctuations and is considered to be less risky than HYFC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDHY.L	HYFC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	1.89%	-0.73%
Volatility (6M) Calculated over the trailing 6-month period	2.69%	4.83%	-2.14%
Volatility (1Y) Calculated over the trailing 1-year period	3.43%	5.61%	-2.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.46%	6.90%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.33%	6.90%	-0.57%

SDHY.L vs. HYFC.L - Expense Ratio Comparison

Both SDHY.L and HYFC.L have an expense ratio of 0.45%.

Dividends

SDHY.L vs. HYFC.L - Dividend Comparison

SDHY.L's dividend yield for the trailing twelve months is around 8.31%, while HYFC.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYFC.L Invesco US High Yield Fallen Angels UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SDHY.L iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist	8.31%	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

Can I hold both SDHY.L and HYFC.L in my portfolio?

SDHY.L and HYFC.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SDHY.L or HYFC.L?

Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SDHY.L or HYFC.L?

SDHY.L and HYFC.L have the same expense ratio: 0.45% per year.

What is the main difference between SDHY.L and HYFC.L?

SDHY.L tracks Markit iBoxx USD Liquid High Yield 0-5 Capped Index, while HYFC.L tracks FTSE Time-Weighted US Fallen Angel Bond Select Index. They also come from different issuers: iShares and Invesco.