UDHY.DE vs. FAEU.DE
UDHY.DE (iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)) and FAEU.DE (Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg)) are both High Yield Bonds funds - UDHY.DE tracks the ICE BofAML US High Yield Constrained while FAEU.DE tracks the FTSE Time-Weighted US Fallen Angel Bond Select Index. Both are passively managed. Over the past 3 years, UDHY.DE returned 5.82%/yr vs 4.92%/yr for FAEU.DE. At a 0.21 correlation, their price movements are largely independent. UDHY.DE charges 0.20%/yr vs 0.50%/yr for FAEU.DE.
Performance
UDHY.DE vs. FAEU.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UDHY.DE achieves a -0.44% return, which is significantly lower than FAEU.DE's 0.40% return.
UDHY.DE
- 1D
- 0.00%
- 1M
- -0.09%
- 6M
- 1.21%
- YTD
- -0.44%
- 1Y
- 1.74%
- 3Y*
- 5.82%
- 5Y*
- —
- 10Y*
- —
FAEU.DE
- 1D
- 0.04%
- 1M
- 0.14%
- 6M
- -0.39%
- YTD
- 0.40%
- 1Y
- 3.68%
- 3Y*
- 4.92%
- 5Y*
- 0.06%
- 10Y*
- —
UDHY.DE vs. FAEU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UDHY.DE iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | -0.44% | -3.31% | 14.00% | 9.01% | -3.77% |
FAEU.DE Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) | 0.40% | 7.55% | 2.62% | 7.66% | -9.76% |
Correlation
The correlation between UDHY.DE and FAEU.DE is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2022 | 0.21 |
The correlation between UDHY.DE and FAEU.DE shifts across timeframes, from 0.05 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UDHY.DE vs. FAEU.DE — Risk / Return Rank
UDHY.DE
FAEU.DE
UDHY.DE vs. FAEU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (UDHY.DE) and Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) (FAEU.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.
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.
| UDHY.DE | FAEU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.14 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 0.68 | -0.58 |
| Martin ratioReturn relative to average drawdown | 0.14 | 2.20 | -2.06 |
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Drawdowns
UDHY.DE vs. FAEU.DE - Drawdown Comparison
The maximum UDHY.DE drawdown since its inception was -18.01%, smaller than the maximum FAEU.DE drawdown of -29.94%. Use the drawdown chart below to compare losses from any high point for UDHY.DE and FAEU.DE.
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Drawdown Indicators
| UDHY.DE | FAEU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.01% | -29.94% | +11.93% |
Max Drawdown (1Y)Largest decline over 1 year | -18.01% | -5.38% | -12.63% |
Max Drawdown (3Y)Largest decline over 3 years | -18.01% | -5.63% | -12.38% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.80% | — |
Current DrawdownCurrent decline from peak | -14.38% | -1.31% | -13.07% |
Average DrawdownAverage peak-to-trough decline | -5.92% | -6.38% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.70% | 1.67% | +11.03% |
Volatility
UDHY.DE vs. FAEU.DE - Volatility Comparison
iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (UDHY.DE) has a higher volatility of 2.03% compared to Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) (FAEU.DE) at 0.84%. This indicates that UDHY.DE's price experiences larger fluctuations and is considered to be riskier than FAEU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UDHY.DE | FAEU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.03% | 0.84% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 4.02% | 4.26% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.25% | 5.25% | +17.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.01% | 7.44% | +5.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.01% | 10.52% | +2.49% |
UDHY.DE vs. FAEU.DE - Expense Ratio Comparison
UDHY.DE has a 0.20% expense ratio, which is lower than FAEU.DE's 0.50% expense ratio.
Dividends
UDHY.DE vs. FAEU.DE - Dividend Comparison
UDHY.DE's dividend yield for the trailing twelve months is around 1.70%, while FAEU.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FAEU.DE Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 0.00% | 8.14% |
UDHY.DE iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | 1.70% | 8.01% | 7.25% | 6.34% | 1.63% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UDHY.DE and FAEU.DE have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UDHY.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UDHY.DE is cheaper with a 0.20% expense ratio, compared with 0.50% for FAEU.DE.
UDHY.DE tracks ICE BofAML US High Yield Constrained, while FAEU.DE tracks FTSE Time-Weighted US Fallen Angel Bond Select Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for UDHY.DE and 0.50% for FAEU.DE.
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