SDHY.L vs. HYGU.L
SDHY.L ( iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist) and HYGU.L (iShares € High Yield Corp Bond UCITS ETF) are both High Yield Bonds funds from iShares - SDHY.L tracks the Markit iBoxx USD Liquid High Yield 0-5 Capped Index while HYGU.L tracks the iShares € High Yield Corp Bond UCITS ETF. Both are passively managed. Over the past 5 years, SDHY.L returned 4.65%/yr vs 4.58%/yr for HYGU.L. A 0.61 correlation means they provide meaningful diversification when combined. SDHY.L charges 0.45%/yr vs 0.55%/yr for HYGU.L.
Performance
SDHY.L vs. HYGU.L - Performance Comparison
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Returns By Period
In the year-to-date period, SDHY.L achieves a 2.01% return, which is significantly lower than HYGU.L's 2.18% return.
SDHY.L
- 1D
- 0.30%
- 1M
- 0.14%
- 6M
- 1.88%
- YTD
- 2.01%
- 1Y
- 6.41%
- 3Y*
- 7.37%
- 5Y*
- 4.65%
- 10Y*
- 4.76%
HYGU.L
- 1D
- -0.03%
- 1M
- 0.24%
- 6M
- 2.18%
- YTD
- 2.18%
- 1Y
- 5.22%
- 3Y*
- 8.18%
- 5Y*
- 4.58%
- 10Y*
- —
SDHY.L vs. HYGU.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 | 2.01% | 8.90% | 6.50% | 8.75% | -3.27% | 3.42% | 4.07% | 9.61% | 0.27% | 1.30% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 2.18% | 7.24% | 7.29% | 13.55% | -7.14% | 3.72% | 2.16% | 12.83% | -0.86% | 0.71% |
Correlation
The correlation between SDHY.L and HYGU.L is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | 0.62 |
The correlation between SDHY.L and HYGU.L has been stable across timeframes, ranging from 0.53 to 0.62 - a consistent structural relationship.
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Return for Risk
SDHY.L vs. HYGU.L — Risk / Return Rank
SDHY.L
HYGU.L
SDHY.L vs. HYGU.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 iShares € High Yield Corp Bond UCITS ETF (HYGU.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.
| SDHY.L | HYGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.33 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 2.00 | +1.49 |
| Martin ratioReturn relative to average drawdown | 15.20 | 8.61 | +6.59 |
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Drawdowns
SDHY.L vs. HYGU.L - Drawdown Comparison
The maximum SDHY.L drawdown since its inception was -18.94%, smaller than the maximum HYGU.L drawdown of -25.03%. Use the drawdown chart below to compare losses from any high point for SDHY.L and HYGU.L.
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Drawdown Indicators
| SDHY.L | HYGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.94% | -25.03% | +6.09% |
Max Drawdown (1Y)Largest decline over 1 year | -1.83% | -2.60% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -4.51% | -3.62% | -0.89% |
Max Drawdown (5Y)Largest decline over 5 years | -8.41% | -13.61% | +5.20% |
Max Drawdown (10Y)Largest decline over 10 years | -18.94% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.16% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -1.27% | -2.06% | +0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 0.61% | -0.19% |
Volatility
SDHY.L vs. HYGU.L - Volatility Comparison
iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.L) has a higher volatility of 1.01% compared to iShares € High Yield Corp Bond UCITS ETF (HYGU.L) at 0.62%. This indicates that SDHY.L's price experiences larger fluctuations and is considered to be riskier than HYGU.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 | HYGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 0.62% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 2.85% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.46% | 3.33% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.47% | 5.37% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.29% | 7.10% | -0.81% |
SDHY.L vs. HYGU.L - Expense Ratio Comparison
SDHY.L has a 0.45% expense ratio, which is lower than HYGU.L's 0.55% expense ratio.
Dividends
SDHY.L vs. HYGU.L - Dividend Comparison
SDHY.L's dividend yield for the trailing twelve months is around 6.73%, while HYGU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 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 | 6.73% | 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 HYGU.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SDHY.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SDHY.L is cheaper with a 0.45% expense ratio, compared with 0.55% for HYGU.L.
SDHY.L tracks Markit iBoxx USD Liquid High Yield 0-5 Capped Index, while HYGU.L tracks iShares € High Yield Corp Bond UCITS ETF. Their fees differ too: 0.45% for SDHY.L and 0.55% for HYGU.L.
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