UDHY.DE vs. GFEA.DE
UDHY.DE (iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)) and GFEA.DE (VanEck Global Fallen Angel High Yield Bond UCITS ETF) are both High Yield Bonds funds - UDHY.DE tracks the ICE BofAML US High Yield Constrained while GFEA.DE tracks the ICE Global Fallen Angel High Yield 10% Constrained. Both are passively managed. Over the past 3 years, UDHY.DE returned 3.98%/yr vs 6.53%/yr for GFEA.DE. A 0.69 correlation means they provide meaningful diversification when combined. UDHY.DE charges 0.20%/yr vs 0.40%/yr for GFEA.DE.
Performance
UDHY.DE vs. GFEA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UDHY.DE achieves a -1.14% return, which is significantly lower than GFEA.DE's 5.14% return.
UDHY.DE
- 1D
- 0.01%
- 1M
- 1.21%
- YTD
- -1.14%
- 6M
- -1.88%
- 1Y
- 0.71%
- 3Y*
- 3.98%
- 5Y*
- —
- 10Y*
- —
GFEA.DE
- 1D
- -0.60%
- 1M
- 1.51%
- YTD
- 5.14%
- 6M
- 4.54%
- 1Y
- 7.23%
- 3Y*
- 6.53%
- 5Y*
- 4.25%
- 10Y*
- —
UDHY.DE vs. GFEA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UDHY.DE iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | -1.14% | -3.92% | 13.24% | 8.32% | -4.04% |
GFEA.DE VanEck Global Fallen Angel High Yield Bond UCITS ETF | 5.14% | -2.31% | 12.20% | 6.70% | -3.32% |
Correlation
The correlation between UDHY.DE and GFEA.DE is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2022 | 0.69 |
The correlation between UDHY.DE and GFEA.DE has been stable across timeframes, ranging from 0.69 to 0.71 - a consistent structural relationship.
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Return for Risk
UDHY.DE vs. GFEA.DE — Risk / Return Rank
UDHY.DE
GFEA.DE
UDHY.DE vs. GFEA.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 VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.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.
| UDHY.DE | GFEA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.22 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | 2.92 | -2.83 |
| Martin ratioReturn relative to average drawdown | 0.19 | 9.56 | -9.37 |
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
| UDHY.DE | GFEA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.08 | 1.22 | -1.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.77 | -0.43 |
Drawdowns
UDHY.DE vs. GFEA.DE - Drawdown Comparison
The maximum UDHY.DE drawdown since its inception was -12.23%, smaller than the maximum GFEA.DE drawdown of -22.87%. Use the drawdown chart below to compare losses from any high point for UDHY.DE and GFEA.DE.
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Drawdown Indicators
| UDHY.DE | GFEA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.23% | -22.87% | +10.64% |
Max Drawdown (1Y)Largest decline over 1 year | -6.17% | -2.44% | -3.73% |
Max Drawdown (3Y)Largest decline over 3 years | -12.23% | -9.98% | -2.25% |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.97% | — |
Current DrawdownCurrent decline from peak | -7.76% | -0.60% | -7.16% |
Average DrawdownAverage peak-to-trough decline | -4.84% | -3.37% | -1.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 0.75% | +1.92% |
Volatility
UDHY.DE vs. GFEA.DE - Volatility Comparison
The current volatility for iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (UDHY.DE) is 0.99%, while VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.DE) has a volatility of 1.85%. This indicates that UDHY.DE experiences smaller price fluctuations and is considered to be less risky than GFEA.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 | GFEA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 1.85% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 4.73% | 4.63% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.32% | 5.85% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.04% | 7.72% | +0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.04% | 9.51% | -1.47% |
UDHY.DE vs. GFEA.DE - Expense Ratio Comparison
UDHY.DE has a 0.20% expense ratio, which is lower than GFEA.DE's 0.40% expense ratio.
Dividends
UDHY.DE vs. GFEA.DE - Dividend Comparison
UDHY.DE's dividend yield for the trailing twelve months is around 4.67%, while GFEA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GFEA.DE VanEck Global Fallen Angel High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UDHY.DE iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | 4.67% | 7.37% | 6.63% | 5.74% | 1.63% |
Frequently Asked Questions
UDHY.DE and GFEA.DE have a correlation of 0.69, 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 0.40% for GFEA.DE.
UDHY.DE tracks ICE BofAML US High Yield Constrained, while GFEA.DE tracks ICE Global Fallen Angel High Yield 10% Constrained. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.20% for UDHY.DE and 0.40% for GFEA.DE.
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