SHYU.L vs. HYG
SHYU.L (iShares $ High Yield Corp Bond UCITS ETF) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both exchange-traded funds - SHYU.L is a Corporate Bonds fund tracking the Markit iBoxx USD Liquid High Yield Capped Index, while HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index. Both are passively managed. Over the past 10 years, SHYU.L returned 4.84%/yr vs 5.69%/yr for HYG. A 0.71 correlation means they provide meaningful diversification when combined. SHYU.L charges 0.50%/yr vs 0.49%/yr for HYG.
Performance
SHYU.L vs. HYG - Performance Comparison
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Different Trading Currencies
SHYU.L is traded in GBP, while HYG is traded in USD. To make them comparable, the HYG values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SHYU.L achieves a -1.70% return, which is significantly lower than HYG's 1.92% return. Over the past 10 years, SHYU.L has underperformed HYG with an annualized return of 4.84%, while HYG has yielded a comparatively higher 5.69% annualized return.
SHYU.L
- 1D
- 0.16%
- 1M
- -0.19%
- YTD
- -1.70%
- 6M
- -1.85%
- 1Y
- 1.64%
- 3Y*
- 2.26%
- 5Y*
- 3.17%
- 10Y*
- 4.84%
HYG
- 1D
- 0.19%
- 1M
- 1.32%
- YTD
- 1.92%
- 6M
- 1.14%
- 1Y
- 7.54%
- 3Y*
- 5.85%
- 5Y*
- 4.93%
- 10Y*
- 5.69%
SHYU.L vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHYU.L iShares $ High Yield Corp Bond UCITS ETF | -1.70% | -4.17% | 8.56% | 4.72% | 2.04% | 4.96% | 1.60% | 9.12% | 4.39% | -3.89% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.92% | 0.86% | 9.85% | 5.96% | -0.40% | 4.74% | 1.40% | 9.75% | 3.79% | -3.10% |
Correlation
The correlation between SHYU.L and HYG is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2011 | 0.71 |
The correlation between SHYU.L and HYG has been stable across timeframes, ranging from 0.67 to 0.75 - a consistent structural relationship.
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Return for Risk
SHYU.L vs. HYG — Risk / Return Rank
SHYU.L
HYG
SHYU.L vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ High Yield Corp Bond UCITS ETF (SHYU.L) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
| SHYU.L | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.23 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | 1.95 | -1.70 |
| Martin ratioReturn relative to average drawdown | 0.43 | 6.03 | -5.60 |
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
| SHYU.L | HYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | 1.25 | -1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.58 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.55 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.60 | 0.00 |
Drawdowns
SHYU.L vs. HYG - Drawdown Comparison
The maximum SHYU.L drawdown since its inception was -15.01%, smaller than the maximum HYG drawdown of -23.86%. Use the drawdown chart below to compare losses from any high point for SHYU.L and HYG.
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Drawdown Indicators
| SHYU.L | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.01% | -23.86% | +8.85% |
Max Drawdown (1Y)Largest decline over 1 year | -6.61% | -3.88% | -2.73% |
Max Drawdown (3Y)Largest decline over 3 years | -11.08% | -10.25% | -0.83% |
Max Drawdown (5Y)Largest decline over 5 years | -11.08% | -10.25% | -0.83% |
Max Drawdown (10Y)Largest decline over 10 years | -15.01% | -14.89% | -0.12% |
Current DrawdownCurrent decline from peak | -9.14% | -1.05% | -8.09% |
Average DrawdownAverage peak-to-trough decline | -4.14% | -3.77% | -0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.83% | 1.25% | +2.58% |
Volatility
SHYU.L vs. HYG - Volatility Comparison
iShares $ High Yield Corp Bond UCITS ETF (SHYU.L) has a higher volatility of 1.72% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 1.29%. This indicates that SHYU.L's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYU.L | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.72% | 1.29% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 4.34% | 4.44% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.89% | 6.04% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.13% | 8.55% | -0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.74% | 10.41% | -0.67% |
SHYU.L vs. HYG - Expense Ratio Comparison
SHYU.L has a 0.50% expense ratio, which is higher than HYG's 0.49% expense ratio.
Dividends
SHYU.L vs. HYG - Dividend Comparison
SHYU.L has not paid dividends to shareholders, while HYG's dividend yield for the trailing twelve months is around 5.91%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.91% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
SHYU.L iShares $ High Yield Corp Bond UCITS ETF | 0.00% | 0.00% | 6.32% | 5.76% | 4.82% | 4.27% | 5.16% | 5.58% | 5.52% | 5.74% | 5.16% | 5.87% |
Frequently Asked Questions
SHYU.L and HYG have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYG is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYG is cheaper with a 0.49% expense ratio, compared with 0.50% for SHYU.L.
SHYU.L is categorized as Corporate Bonds, while HYG is High Yield Bonds. SHYU.L tracks Markit iBoxx USD Liquid High Yield Capped Index, while HYG tracks Markit iBoxx USD Liquid High Yield Index. Their fees differ too: 0.50% for SHYU.L and 0.49% for HYG.
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