SHYG.L vs. IHYG.L
SHYG.L (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) and IHYG.L (iShares € High Yield Corp Bond UCITS ETF EUR (Dist)) are both European High Yield Bonds funds from iShares - SHYG.L tracks the Bloomberg Pan Euro HY Euro TR EUR while IHYG.L tracks the Markit iBoxx Euro Liquid High Yield Index. Both are passively managed. Over the past 10 years, SHYG.L returned 3.56%/yr vs 4.09%/yr for IHYG.L. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.
Performance
SHYG.L vs. IHYG.L - Performance Comparison
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Different Trading Currencies
SHYG.L is traded in GBP, while IHYG.L is traded in EUR. To make them comparable, the IHYG.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 -2.59% return, which is significantly lower than IHYG.L's -0.04% return. Over the past 10 years, SHYG.L has underperformed IHYG.L with an annualized return of 3.56%, while IHYG.L has yielded a comparatively higher 4.09% annualized return.
SHYG.L
- 1D
- 0.24%
- 1M
- 1.24%
- YTD
- -2.59%
- 6M
- -1.99%
- 1Y
- 0.73%
- 3Y*
- 4.65%
- 5Y*
- 1.78%
- 10Y*
- 3.56%
IHYG.L
- 1D
- 0.19%
- 1M
- 1.13%
- YTD
- -0.04%
- 6M
- 0.39%
- 1Y
- 5.94%
- 3Y*
- 6.46%
- 5Y*
- 2.83%
- 10Y*
- 4.09%
SHYG.L vs. IHYG.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) | -2.59% | 7.69% | 0.97% | 9.31% | -4.42% | -3.69% | 6.60% | 4.45% | -2.62% | 8.25% |
IHYG.L iShares € High Yield Corp Bond UCITS ETF EUR (Dist) | -0.04% | 10.95% | 0.91% | 9.11% | -4.79% | -3.07% | 6.86% | 3.48% | -2.62% | 9.29% |
Correlation
The correlation between SHYG.L and IHYG.L is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2010 | 0.82 |
The correlation between SHYG.L and IHYG.L has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.
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Return for Risk
SHYG.L vs. IHYG.L — Risk / Return Rank
SHYG.L
IHYG.L
SHYG.L vs. IHYG.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 € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.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.
| SHYG.L | IHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.21 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 1.63 | -1.52 |
| Martin ratioReturn relative to average drawdown | 0.29 | 5.19 | -4.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHYG.L | IHYG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.12 | 1.17 | -1.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.40 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.47 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.47 | -0.07 |
Drawdowns
SHYG.L vs. IHYG.L - Drawdown Comparison
The maximum SHYG.L drawdown since its inception was -22.96%, roughly equal to the maximum IHYG.L drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for SHYG.L and IHYG.L.
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Drawdown Indicators
| SHYG.L | IHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.96% | -21.97% | -0.99% |
Max Drawdown (1Y)Largest decline over 1 year | -6.43% | -3.62% | -2.81% |
Max Drawdown (3Y)Largest decline over 3 years | -6.43% | -3.62% | -2.81% |
Max Drawdown (5Y)Largest decline over 5 years | -15.33% | -15.36% | +0.03% |
Max Drawdown (10Y)Largest decline over 10 years | -22.96% | -21.97% | -0.99% |
Current DrawdownCurrent decline from peak | -3.57% | -0.71% | -2.86% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -4.62% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.49% | 1.14% | +1.35% |
Volatility
SHYG.L vs. IHYG.L - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (SHYG.L) is 1.44%, while iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L) has a volatility of 1.56%. This indicates that SHYG.L experiences smaller price fluctuations and is considered to be less risky than IHYG.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 | IHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 1.56% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | 3.94% | +0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.28% | 5.08% | +1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.15% | 7.12% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.69% | 8.71% | -0.02% |
SHYG.L vs. IHYG.L - Expense Ratio Comparison
Both SHYG.L and IHYG.L have an expense ratio of 0.50%.
Dividends
SHYG.L vs. IHYG.L - Dividend Comparison
SHYG.L has not paid dividends to shareholders, while IHYG.L's dividend yield for the trailing twelve months is around 5.17%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHYG.L iShares € High Yield Corp Bond UCITS ETF EUR (Dist) | 5.17% | 5.44% | 6.10% | 5.41% | 3.70% | 3.07% | 3.67% | 3.76% | 3.68% | 3.77% | 4.03% | 4.59% |
SHYG.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 0.00% | 2.75% | 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 IHYG.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SHYG.L and IHYG.L have the same expense ratio: 0.50% per year.
SHYG.L tracks Bloomberg Pan Euro HY Euro TR EUR, while IHYG.L tracks Markit iBoxx Euro Liquid High Yield Index.
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