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SDHY.L vs. HYSD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SDHY.L vs. HYSD.L

Last updated Jul 16, 2026
Documentation

SDHY.L ( iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist) and HYSD.L (iShares Broad $ 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 HYSD.L tracks the iShares Broad $ High Yield Corp Bond UCITS ETF. Both are passively managed. Over the past 3 years, SDHY.L returned 7.37%/yr vs 9.36%/yr for HYSD.L. A 0.56 correlation means they provide meaningful diversification when combined.

Performance

SDHY.L vs. HYSD.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 iShares Broad $ High Yield Corp Bond UCITS ETF (HYSD.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SDHY.L is traded in USD, while HYSD.L is traded in GBP. To make them comparable, the HYSD.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SDHY.L achieves a 2.01% return, which is significantly lower than HYSD.L's 2.45% 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%

HYSD.L

1D
0.00%
1M
0.90%
6M
1.97%
YTD
2.45%
1Y
6.98%
3Y*
9.36%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022
SDHY.L
iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist		2.01%8.90%6.50%8.75%-0.24%
HYSD.L
iShares Broad $ High Yield Corp Bond UCITS ETF		2.45%16.41%5.80%17.64%-4.06%

Correlation

The correlation between SDHY.L and HYSD.L is 0.52, 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

0.52

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

0.53

Correlation (All Time)
Calculated using the full available price history since Aug 3, 2022

0.56

The correlation between SDHY.L and HYSD.L has been stable across timeframes, ranging from 0.52 to 0.56 - a consistent structural relationship.

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iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist

iShares Broad $ High Yield Corp Bond UCITS ETF

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SDHY.L vs. JHYU.LSDHY.L vs. JNKS.LSDHY.L vs. STHE.LSDHY.L vs. EHYG.LSDHY.L vs. GLDSDHY.L vs. JGYH.LSDHY.L vs. GHYU.L

Return for Risk

SDHY.L vs. HYSD.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: 7979
Overall Rank
SDHY.L Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
SDHY.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
SDHY.L Omega Ratio Rank: 7373
Omega Ratio Rank
SDHY.L Calmar Ratio Rank: 8282
Calmar Ratio Rank
SDHY.L Martin Ratio Rank: 8888
Martin Ratio Rank
HYSD.L
HYSD.L Risk / Return Rank: 6464
Overall Rank
HYSD.L Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
HYSD.L Sortino Ratio Rank: 6262
Sortino Ratio Rank
HYSD.L Omega Ratio Rank: 6565
Omega Ratio Rank
HYSD.L Calmar Ratio Rank: 6363
Calmar Ratio Rank
HYSD.L Martin Ratio Rank: 7575
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.

SDHY.L vs. HYSD.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 Broad $ High Yield Corp Bond UCITS ETF (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.

SDHY.LHYSD.LDifference
Sharpe ratioReturn per unit of total volatility
1.85
0.78

+1.07

Sortino ratioReturn per unit of downside risk
2.82
1.16

+1.66

Omega ratioGain probability vs. loss probability

1.35

1.14

+0.21

Calmar ratioReturn relative to maximum drawdown

3.49

1.02

+2.46

Martin ratioReturn relative to average drawdown

15.20

2.67

+12.53

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

The current SDHY.L Sharpe Ratio is 1.85, which is higher than the HYSD.L Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of SDHY.L and HYSD.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.

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Drawdowns

SDHY.L vs. HYSD.L - Drawdown Comparison

The maximum SDHY.L drawdown since its inception was -18.94%, smaller than the maximum HYSD.L drawdown of -20.02%. Use the drawdown chart below to compare losses from any high point for SDHY.L and HYSD.L.

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Drawdown Indicators

SDHY.LHYSD.LDifference

Max Drawdown

Largest peak-to-trough decline

-18.94%

-20.02%

+1.08%

Max Drawdown (1Y)

Largest decline over 1 year

-1.83%

-6.47%

+4.64%

Max Drawdown (3Y)

Largest decline over 3 years

-4.51%

-9.49%

+4.98%

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

-0.03%

-1.07%

+1.04%

Average Drawdown

Average peak-to-trough decline

-1.27%

-3.24%

+1.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.42%

2.49%

-2.07%

Volatility

SDHY.L vs. HYSD.L - Volatility Comparison

The current volatility for iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.L) is 1.01%, while iShares Broad $ High Yield Corp Bond UCITS ETF (HYSD.L) has a volatility of 2.14%. This indicates that SDHY.L experiences smaller price fluctuations and is considered to be less risky 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

SDHY.LHYSD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.01%

2.14%

-1.13%

Volatility (6M)

Calculated over the trailing 6-month period

2.82%

6.54%

-3.72%

Volatility (1Y)

Calculated over the trailing 1-year period

3.46%

8.55%

-5.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.47%

12.08%

-6.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.29%

12.08%

-5.79%

Dividends

SDHY.L vs. HYSD.L - Dividend Comparison

SDHY.L's dividend yield for the trailing twelve months is around 6.73%, less than HYSD.L's 11.04% yield.

PositionTTM20252024202320222021202020192018201720162015
HYSD.L
iShares Broad $ High Yield Corp Bond UCITS ETF		11.04%7.39%7.39%5.61%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 HYSD.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SDHY.L tracks Markit iBoxx USD Liquid High Yield 0-5 Capped Index, while HYSD.L tracks iShares Broad $ High Yield Corp Bond UCITS ETF.

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