SHYG.L vs. CUKX.L
SHYG.L (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) and CUKX.L (iShares FTSE 100 UCITS ETF) are both exchange-traded funds - SHYG.L is a European High Yield Bonds fund tracking the Bloomberg Pan Euro HY Euro TR EUR, while CUKX.L is a fund fund tracking the FTSE 100 Index. Both are passively managed. Over the past 10 years, SHYG.L returned 3.18%/yr vs 8.63%/yr for CUKX.L. At a 0.32 correlation, their price movements are largely independent. SHYG.L charges 0.50%/yr vs 0.07%/yr for CUKX.L.
Performance
SHYG.L vs. CUKX.L - Performance Comparison
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Different Trading Currencies
SHYG.L is traded in GBP, while CUKX.L is traded in GBp. To make them comparable, the CUKX.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SHYG.L achieves a -1.50% return, which is significantly lower than CUKX.L's 8.59% return. Over the past 10 years, SHYG.L has underperformed CUKX.L with an annualized return of 3.18%, while CUKX.L has yielded a comparatively higher 8.63% annualized return.
SHYG.L
- 1D
- 0.06%
- 1M
- -1.75%
- 6M
- -0.71%
- YTD
- -1.50%
- 1Y
- 1.30%
- 3Y*
- 5.85%
- 5Y*
- 2.55%
- 10Y*
- 3.18%
CUKX.L
- 1D
- 0.14%
- 1M
- 0.98%
- 6M
- 5.25%
- YTD
- 8.59%
- 1Y
- 22.04%
- 3Y*
- 16.41%
- 5Y*
- 12.56%
- 10Y*
- 8.63%
SHYG.L vs. CUKX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHYG.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | -1.50% | 10.52% | 0.97% | 9.30% | -4.42% | -3.69% | 6.61% | 4.45% | -2.62% | 8.24% |
CUKX.L iShares FTSE 100 UCITS ETF | 8.59% | 25.78% | 9.30% | 7.72% | 4.97% | 17.48% | -11.28% | 17.23% | -9.05% | 12.45% |
Correlation
The correlation between SHYG.L and CUKX.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2010 | 0.32 |
The correlation between SHYG.L and CUKX.L shifts across timeframes, from 0.24 (1 year) to 0.37 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
SHYG.L vs. CUKX.L — Risk / Return Rank
SHYG.L
CUKX.L
SHYG.L vs. CUKX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (SHYG.L) and iShares FTSE 100 UCITS ETF (CUKX.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.
| SHYG.L | CUKX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.37 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 2.47 | -2.13 |
| Martin ratioReturn relative to average drawdown | 1.01 | 7.83 | -6.82 |
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Drawdowns
SHYG.L vs. CUKX.L - Drawdown Comparison
The maximum SHYG.L drawdown since its inception was -22.97%, smaller than the maximum CUKX.L drawdown of -34.50%. Use the drawdown chart below to compare losses from any high point for SHYG.L and CUKX.L.
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Drawdown Indicators
| SHYG.L | CUKX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.97% | -34.50% | +11.53% |
Max Drawdown (1Y)Largest decline over 1 year | -3.78% | -8.89% | +5.11% |
Max Drawdown (3Y)Largest decline over 3 years | -3.78% | -12.88% | +9.10% |
Max Drawdown (5Y)Largest decline over 5 years | -15.33% | -12.88% | -2.45% |
Max Drawdown (10Y)Largest decline over 10 years | -22.97% | -34.50% | +11.53% |
Current DrawdownCurrent decline from peak | -2.25% | -1.68% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -5.20% | -4.31% | -0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 2.81% | -1.53% |
Volatility
SHYG.L vs. CUKX.L - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (SHYG.L) is 1.09%, while iShares FTSE 100 UCITS ETF (CUKX.L) has a volatility of 2.88%. This indicates that SHYG.L experiences smaller price fluctuations and is considered to be less risky than CUKX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYG.L | CUKX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 2.88% | -1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 3.83% | 9.77% | -5.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.80% | 11.26% | -6.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.93% | 12.68% | -5.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.39% | 14.89% | -6.50% |
SHYG.L vs. CUKX.L - Expense Ratio Comparison
SHYG.L has a 0.50% expense ratio, which is higher than CUKX.L's 0.07% expense ratio.
Dividends
SHYG.L vs. CUKX.L - Dividend Comparison
SHYG.L's dividend yield for the trailing twelve months is around 6.61%, while CUKX.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CUKX.L iShares FTSE 100 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% |
SHYG.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 6.61% | 5.31% | 6.24% | 5.39% | 3.58% | 3.13% | 3.66% | 3.86% | 3.65% | 3.74% | 3.83% | 4.55% |
Frequently Asked Questions
SHYG.L and CUKX.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CUKX.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CUKX.L is cheaper with a 0.07% expense ratio, compared with 0.50% for SHYG.L.
SHYG.L tracks Bloomberg Pan Euro HY Euro TR EUR, while CUKX.L tracks FTSE 100 Index. Their fees differ too: 0.50% for SHYG.L and 0.07% for CUKX.L.
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