TAHY.L vs. HYLA.L
TAHY.L (Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc)) and HYLA.L (iShares Global High Yield Corp Bond UCITS ETF USD (Acc)) are both exchange-traded funds - TAHY.L is a High Yield Bonds fund tracking the iBoxx MSCI Scored & Screened Tilted USD Asia ex-Japan High Yield Capped TCA Index, while HYLA.L is a Global Corporate Bonds fund tracking the Markit iBoxx Global Developed Markets Liquid High Yield Capped (USD) Index. Both are passively managed. Over the past 3 years, TAHY.L returned 8.17%/yr vs 7.55%/yr for HYLA.L. At a 0.19 correlation, their price movements are largely independent. TAHY.L charges 0.60%/yr vs 0.50%/yr for HYLA.L.
Performance
TAHY.L vs. HYLA.L - Performance Comparison
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Returns By Period
In the year-to-date period, TAHY.L achieves a 3.88% return, which is significantly higher than HYLA.L's 0.29% return.
TAHY.L
- 1D
- 0.00%
- 1M
- 0.24%
- 6M
- 2.85%
- YTD
- 3.88%
- 1Y
- 6.69%
- 3Y*
- 8.17%
- 5Y*
- —
- 10Y*
- —
HYLA.L
- 1D
- -0.15%
- 1M
- -0.29%
- 6M
- 0.59%
- YTD
- 0.29%
- 1Y
- 3.96%
- 3Y*
- 7.55%
- 5Y*
- 3.07%
- 10Y*
- —
TAHY.L vs. HYLA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TAHY.L Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) | 3.88% | 7.26% | 17.54% | -10.74% | -18.39% | -13.10% |
HYLA.L iShares Global High Yield Corp Bond UCITS ETF USD (Acc) | 0.29% | 14.45% | 2.59% | 13.39% | -11.81% | -2.01% |
Correlation
The correlation between TAHY.L and HYLA.L 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 Sep 2, 2021 | 0.19 |
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Return for Risk
TAHY.L vs. HYLA.L — Risk / Return Rank
TAHY.L
HYLA.L
TAHY.L vs. HYLA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) (TAHY.L) and iShares Global High Yield Corp Bond UCITS ETF USD (Acc) (HYLA.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.
| TAHY.L | HYLA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.12 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 0.85 | +1.74 |
| Martin ratioReturn relative to average drawdown | 7.38 | 2.86 | +4.52 |
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Drawdowns
TAHY.L vs. HYLA.L - Drawdown Comparison
The maximum TAHY.L drawdown since its inception was -51.61%, which is greater than HYLA.L's maximum drawdown of -24.42%. Use the drawdown chart below to compare losses from any high point for TAHY.L and HYLA.L.
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Drawdown Indicators
| TAHY.L | HYLA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.61% | -24.42% | -27.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -4.62% | +2.05% |
Max Drawdown (3Y)Largest decline over 3 years | -9.81% | -5.65% | -4.16% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.93% | — |
Current DrawdownCurrent decline from peak | -17.10% | -1.44% | -15.66% |
Average DrawdownAverage peak-to-trough decline | -26.81% | -4.10% | -22.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 1.38% | -0.47% |
Volatility
TAHY.L vs. HYLA.L - Volatility Comparison
The current volatility for Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) (TAHY.L) is 1.07%, while iShares Global High Yield Corp Bond UCITS ETF USD (Acc) (HYLA.L) has a volatility of 1.37%. This indicates that TAHY.L experiences smaller price fluctuations and is considered to be less risky than HYLA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAHY.L | HYLA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.37% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.83% | 4.68% | -1.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.64% | 5.85% | -2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.09% | 8.19% | +4.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.09% | 9.25% | +3.84% |
TAHY.L vs. HYLA.L - Expense Ratio Comparison
TAHY.L has a 0.60% expense ratio, which is higher than HYLA.L's 0.50% expense ratio.
Dividends
TAHY.L vs. HYLA.L - Dividend Comparison
Neither TAHY.L nor HYLA.L has paid dividends to shareholders.
Frequently Asked Questions
TAHY.L and HYLA.L 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.
On fees, HYLA.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYLA.L is cheaper with a 0.50% expense ratio, compared with 0.60% for TAHY.L.
TAHY.L is categorized as High Yield Bonds, while HYLA.L is Global Corporate Bonds. TAHY.L tracks iBoxx MSCI Scored & Screened Tilted USD Asia ex-Japan High Yield Capped TCA Index, while HYLA.L tracks Markit iBoxx Global Developed Markets Liquid High Yield Capped (USD) Index. They also come from different issuers: Janus Henderson and iShares. Their fees differ too: 0.60% for TAHY.L and 0.50% for HYLA.L.
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