SHYG.L vs. QYLE.DE

Last updated Jun 5, 2026

SHYG.L (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) and QYLE.DE (Global X Nasdaq 100 Covered Call UCITS ETF D) are both exchange-traded funds - SHYG.L is a European High Yield Bonds fund tracking the Bloomberg Pan Euro HY Euro TR EUR, while QYLE.DE is a Nasdaq-100 fund tracking the Cboe Nasdaq-100 BuyWrite. Both are passively managed. Over the past 3 years, SHYG.L returned 4.65%/yr vs 12.89%/yr for QYLE.DE. At a 0.20 correlation, their price movements are largely independent. SHYG.L charges 0.50%/yr vs 0.45%/yr for QYLE.DE.

Performance

SHYG.L vs. QYLE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (SHYG.L) and Global X Nasdaq 100 Covered Call UCITS ETF D (QYLE.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SHYG.L is traded in GBP, while QYLE.DE is traded in EUR. To make them comparable, the QYLE.DE 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 QYLE.DE's 5.65% return.

SHYG.L

• 1D: 0.24%
• 1M: 0.61%
• YTD: -2.59%
• 6M: -2.05%
• 1Y: 0.86%
• 3Y*: 4.65%
• 5Y*: 1.78%
• 10Y*: 3.56%

QYLE.DE

• 1D: -0.93%
• 1M: 2.66%
• YTD: 5.65%
• 6M: 6.41%
• 1Y: 19.41%
• 3Y*: 12.89%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SHYG.L vs. QYLE.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SHYG.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)	-2.59%	7.69%	0.97%	9.31%	2.71%
QYLE.DE Global X Nasdaq 100 Covered Call UCITS ETF D	5.65%	-2.82%	31.38%	27.42%	-3.16%

Correlation

The correlation between SHYG.L and QYLE.DE is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (All Time) Calculated using the full available price history since Nov 24, 2022	0.20

Return for Risk

SHYG.L vs. QYLE.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SHYG.L

SHYG.L Risk / Return Rank: 10
SHYG.L Sharpe Ratio Rank: 11
SHYG.L Sortino Ratio Rank: 9
SHYG.L Omega Ratio Rank: 10
SHYG.L Calmar Ratio Rank: 11
SHYG.L Martin Ratio Rank: 10

QYLE.DE

QYLE.DE Risk / Return Rank: 57
QYLE.DE Sharpe Ratio Rank: 50
QYLE.DE Sortino Ratio Rank: 49
QYLE.DE Omega Ratio Rank: 49
QYLE.DE Calmar Ratio Rank: 78
QYLE.DE Martin Ratio Rank: 60

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.

SHYG.L vs. QYLE.DE - 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 Global X Nasdaq 100 Covered Call UCITS ETF D (QYLE.DE). 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	QYLE.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.12	2.11	-1.99
Sortino ratio: Return per unit of downside risk	0.18	2.95	-2.77
Omega ratio: Gain probability vs. loss probability	1.03	1.37	-0.34
Calmar ratio: Return relative to maximum drawdown	0.11	5.18	-5.07
Martin ratio: Return relative to average drawdown	0.29	15.03	-14.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHYG.L vs. QYLE.DE - Sharpe Ratio Comparison

The current SHYG.L Sharpe Ratio is 0.12, which is lower than the QYLE.DE Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of SHYG.L and QYLE.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SHYG.L	QYLE.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	2.11	-1.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	1.19	-0.79

Drawdowns

SHYG.L vs. QYLE.DE - Drawdown Comparison

The maximum SHYG.L drawdown since its inception was -22.96%, roughly equal to the maximum QYLE.DE drawdown of -22.77%. Use the drawdown chart below to compare losses from any high point for SHYG.L and QYLE.DE.

Drawdown Indicators

	SHYG.L	QYLE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-22.96%	-22.77%	-0.19%
Max Drawdown (1Y) Largest decline over 1 year	-6.43%	-3.71%	-2.72%
Max Drawdown (3Y) Largest decline over 3 years	-6.43%	-22.77%	+16.34%
Max Drawdown (5Y) Largest decline over 5 years	-15.33%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-22.96%	—	—
Current Drawdown Current decline from peak	-3.57%	-2.13%	-1.44%
Average Drawdown Average peak-to-trough decline	-4.87%	-4.79%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	1.28%	+1.21%

Volatility

SHYG.L vs. QYLE.DE - Volatility Comparison

The current volatility for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (SHYG.L) is 1.44%, while Global X Nasdaq 100 Covered Call UCITS ETF D (QYLE.DE) has a volatility of 2.62%. This indicates that SHYG.L experiences smaller price fluctuations and is considered to be less risky than QYLE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHYG.L	QYLE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	2.62%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	4.92%	6.01%	-1.09%
Volatility (1Y) Calculated over the trailing 1-year period	6.28%	9.14%	-2.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.15%	12.97%	-5.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.69%	12.97%	-4.28%

SHYG.L vs. QYLE.DE - Expense Ratio Comparison

SHYG.L has a 0.50% expense ratio, which is higher than QYLE.DE's 0.45% expense ratio.

Dividends

SHYG.L vs. QYLE.DE - Dividend Comparison

SHYG.L has not paid dividends to shareholders, while QYLE.DE's dividend yield for the trailing twelve months is around 8.84%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QYLE.DE Global X Nasdaq 100 Covered Call UCITS ETF D	8.84%	10.67%	15.00%	20.20%	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)	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

Can I hold both SHYG.L and QYLE.DE in my portfolio?

SHYG.L and QYLE.DE have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SHYG.L or QYLE.DE?

On fees, QYLE.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SHYG.L or QYLE.DE?

QYLE.DE is cheaper with a 0.45% expense ratio, compared with 0.50% for SHYG.L.

What is the main difference between SHYG.L and QYLE.DE?

SHYG.L is categorized as European High Yield Bonds, while QYLE.DE is Nasdaq-100. SHYG.L tracks Bloomberg Pan Euro HY Euro TR EUR, while QYLE.DE tracks Cboe Nasdaq-100 BuyWrite. They also come from different issuers: iShares and Global X. Their fees differ too: 0.50% for SHYG.L and 0.45% for QYLE.DE.