SGEA.L vs. HYGB.L
SGEA.L (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist)) and HYGB.L (VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds - SGEA.L tracks the Bloomberg Emerging Markets Asia Local Currency Government Country Capped Index while HYGB.L tracks the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, SGEA.L returned -0.08%/yr vs 3.48%/yr for HYGB.L. A 0.66 correlation means they provide meaningful diversification when combined. SGEA.L charges 0.50%/yr vs 0.40%/yr for HYGB.L.
Performance
SGEA.L vs. HYGB.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGEA.L achieves a -5.97% return, which is significantly lower than HYGB.L's 4.06% return.
SGEA.L
- 1D
- 0.43%
- 1M
- -1.31%
- 6M
- -2.76%
- YTD
- -5.97%
- 1Y
- -6.24%
- 3Y*
- -0.41%
- 5Y*
- -0.08%
- 10Y*
- 0.83%
- ALL TIME*
- -0.71%
HYGB.L
- 1D
- 0.10%
- 1M
- -1.50%
- 6M
- 3.02%
- YTD
- 4.06%
- 1Y
- 8.52%
- 3Y*
- 8.47%
- 5Y*
- 3.48%
- 10Y*
- —
- ALL TIME*
- 0.47%
SGEA.L vs. HYGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SGEA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | -5.97% | -1.01% | 3.19% | -0.97% | 3.25% | -3.19% | 5.39% | 5.58% | 8.14% |
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) | 4.06% | 1.56% | 13.72% | 1.66% | -2.52% | 0.59% | 1.90% | 10.99% | -23.28% |
Correlation
The correlation between SGEA.L and HYGB.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.66 |
The correlation between SGEA.L and HYGB.L has been stable across timeframes, ranging from 0.60 to 0.66 - a consistent structural relationship.
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Return for Risk
SGEA.L vs. HYGB.L — Risk / Return Rank
SGEA.L
HYGB.L
SGEA.L vs. HYGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (SGEA.L) and VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.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.
| SGEA.L | HYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.36 | ||
| Sortino ratioReturn per unit of downside risk | -3.27 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.24 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | 2.56 | -3.28 |
| Martin ratioReturn relative to average drawdown | -1.30 | 6.48 | -7.77 |
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Drawdowns
SGEA.L vs. HYGB.L - Drawdown Comparison
The maximum SGEA.L drawdown since its inception was -40.80%, which is greater than HYGB.L's maximum drawdown of -26.72%. Use the drawdown chart below to compare losses from any high point for SGEA.L and HYGB.L.
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Drawdown Indicators
| SGEA.L | HYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.80% | -26.72% | -14.08% |
Max Drawdown (1Y)Largest decline over 1 year | -8.91% | -3.31% | -5.60% |
Max Drawdown (3Y)Largest decline over 3 years | -10.30% | -8.96% | -1.34% |
Max Drawdown (5Y)Largest decline over 5 years | -10.30% | -23.02% | +12.72% |
Max Drawdown (10Y)Largest decline over 10 years | -12.02% | — | — |
Current DrawdownCurrent decline from peak | -9.69% | -1.62% | -8.07% |
Average DrawdownAverage peak-to-trough decline | -17.31% | -14.27% | -3.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.97% | 1.31% | +3.66% |
Volatility
SGEA.L vs. HYGB.L - Volatility Comparison
iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (SGEA.L) has a higher volatility of 1.81% compared to VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.L) at 1.44%. This indicates that SGEA.L's price experiences larger fluctuations and is considered to be riskier than HYGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGEA.L | HYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.81% | 1.44% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 4.95% | -0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.13% | 6.51% | -0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.97% | 18.18% | -11.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.02% | 17.39% | -9.37% |
SGEA.L vs. HYGB.L - Expense Ratio Comparison
SGEA.L has a 0.50% expense ratio, which is higher than HYGB.L's 0.40% expense ratio.
Dividends
SGEA.L vs. HYGB.L - Dividend Comparison
SGEA.L's dividend yield for the trailing twelve months is around 1.76%, while HYGB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (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% |
SGEA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | 1.76% | 3.40% | 3.00% | 2.90% | 2.81% | 2.37% | 2.97% | 2.55% | 2.46% | 2.17% | 2.65% | 1.11% |
Frequently Asked Questions
SGEA.L and HYGB.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYGB.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYGB.L is cheaper with a 0.40% expense ratio, compared with 0.50% for SGEA.L.
SGEA.L tracks Bloomberg Emerging Markets Asia Local Currency Government Country Capped Index, while HYGB.L tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.50% for SGEA.L and 0.40% for HYGB.L.
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