SDHY.L vs. IHHG.L
SDHY.L ( iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist) and IHHG.L (iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) are both High Yield Bonds funds from iShares - SDHY.L tracks the Markit iBoxx USD Liquid High Yield 0-5 Capped Index while IHHG.L tracks the iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist). Both are passively managed. Over the past 5 years, SDHY.L returned 4.65%/yr vs 2.77%/yr for IHHG.L. A 0.58 correlation means they provide meaningful diversification when combined. SDHY.L charges 0.45%/yr vs 0.55%/yr for IHHG.L.
Performance
SDHY.L vs. IHHG.L - Performance Comparison
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Different Trading Currencies
SDHY.L is traded in USD, while IHHG.L is traded in GBP. To make them comparable, the IHHG.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 IHHG.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%
IHHG.L
- 1D
- 0.00%
- 1M
- 0.90%
- 6M
- 2.07%
- YTD
- 2.18%
- 1Y
- 7.00%
- 3Y*
- 8.82%
- 5Y*
- 2.77%
- 10Y*
- —
SDHY.L vs. IHHG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | 0.21% |
IHHG.L iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 2.18% | 17.26% | 4.61% | 15.56% | -19.99% | 2.50% | 5.69% | 14.97% | -11.41% |
Correlation
The correlation between SDHY.L and IHHG.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2018 | 0.58 |
The correlation between SDHY.L and IHHG.L has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.
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Return for Risk
SDHY.L vs. IHHG.L — Risk / Return Rank
SDHY.L
IHHG.L
SDHY.L vs. IHHG.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 GBP Hedged (Dist) (IHHG.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 | IHHG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.14 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 1.03 | +2.46 |
| Martin ratioReturn relative to average drawdown | 15.20 | 2.73 | +12.47 |
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Drawdowns
SDHY.L vs. IHHG.L - Drawdown Comparison
The maximum SDHY.L drawdown since its inception was -18.94%, smaller than the maximum IHHG.L drawdown of -34.42%. Use the drawdown chart below to compare losses from any high point for SDHY.L and IHHG.L.
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Drawdown Indicators
| SDHY.L | IHHG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.94% | -34.42% | +15.48% |
Max Drawdown (1Y)Largest decline over 1 year | -1.83% | -6.71% | +4.88% |
Max Drawdown (3Y)Largest decline over 3 years | -4.51% | -10.03% | +5.52% |
Max Drawdown (5Y)Largest decline over 5 years | -8.41% | -33.92% | +25.51% |
Max Drawdown (10Y)Largest decline over 10 years | -18.94% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -1.13% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -1.27% | -8.65% | +7.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 2.53% | -2.11% |
Volatility
SDHY.L vs. IHHG.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 $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (IHHG.L) has a volatility of 2.00%. This indicates that SDHY.L experiences smaller price fluctuations and is considered to be less risky than IHHG.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 | IHHG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 2.00% | -0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 6.37% | -3.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.46% | 8.53% | -5.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.47% | 12.66% | -7.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.29% | 13.56% | -7.27% |
SDHY.L vs. IHHG.L - Expense Ratio Comparison
SDHY.L has a 0.45% expense ratio, which is lower than IHHG.L's 0.55% expense ratio.
Dividends
SDHY.L vs. IHHG.L - Dividend Comparison
SDHY.L's dividend yield for the trailing twelve months is around 6.73%, more than IHHG.L's 6.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHHG.L iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 6.15% | 6.06% | 6.23% | 5.55% | 5.21% | 4.25% | 4.89% | 5.47% | 3.58% | 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 IHHG.L have a correlation of 0.54, 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 IHHG.L.
SDHY.L tracks Markit iBoxx USD Liquid High Yield 0-5 Capped Index, while IHHG.L tracks iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist). Their fees differ too: 0.45% for SDHY.L and 0.55% for IHHG.L.
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