UDHY.DE vs. IBC2.DE
UDHY.DE (iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)) and IBC2.DE (iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist)) are both High Yield Bonds funds from iShares - UDHY.DE tracks the ICE BofAML US High Yield Constrained while IBC2.DE tracks the Markit iBoxx USD Liquid High Yield Capped Index (EUR Hedged). Both are passively managed. Over the past 3 years, UDHY.DE returned 5.82%/yr vs 5.68%/yr for IBC2.DE. At a 0.22 correlation, their price movements are largely independent. UDHY.DE charges 0.20%/yr vs 0.55%/yr for IBC2.DE.
Performance
UDHY.DE vs. IBC2.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 IBC2.DE's 0.72% return.
UDHY.DE
- 1D
- 0.00%
- 1M
- -0.09%
- 6M
- 1.21%
- YTD
- -0.44%
- 1Y
- 1.74%
- 3Y*
- 5.82%
- 5Y*
- —
- 10Y*
- —
IBC2.DE
- 1D
- 0.00%
- 1M
- -0.00%
- 6M
- 0.22%
- YTD
- 0.72%
- 1Y
- 3.60%
- 3Y*
- 5.68%
- 5Y*
- 1.61%
- 10Y*
- —
UDHY.DE vs. IBC2.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% |
IBC2.DE iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) | 0.72% | 7.02% | 4.85% | 8.05% | -6.17% |
Correlation
The correlation between UDHY.DE and IBC2.DE is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2022 | 0.22 |
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Return for Risk
UDHY.DE vs. IBC2.DE — Risk / Return Rank
UDHY.DE
IBC2.DE
UDHY.DE vs. IBC2.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 iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IBC2.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 | IBC2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.18 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 1.18 | -1.09 |
| Martin ratioReturn relative to average drawdown | 0.14 | 5.26 | -5.12 |
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Drawdowns
UDHY.DE vs. IBC2.DE - Drawdown Comparison
The maximum UDHY.DE drawdown since its inception was -18.01%, smaller than the maximum IBC2.DE drawdown of -22.54%. Use the drawdown chart below to compare losses from any high point for UDHY.DE and IBC2.DE.
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Drawdown Indicators
| UDHY.DE | IBC2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.01% | -22.54% | +4.53% |
Max Drawdown (1Y)Largest decline over 1 year | -18.01% | -3.03% | -14.98% |
Max Drawdown (3Y)Largest decline over 3 years | -18.01% | -4.22% | -13.79% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.71% | — |
Current DrawdownCurrent decline from peak | -14.38% | -0.26% | -14.12% |
Average DrawdownAverage peak-to-trough decline | -5.92% | -3.55% | -2.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.70% | 0.68% | +12.02% |
Volatility
UDHY.DE vs. IBC2.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 iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IBC2.DE) at 0.83%. This indicates that UDHY.DE's price experiences larger fluctuations and is considered to be riskier than IBC2.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 | IBC2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.03% | 0.83% | +1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 4.02% | 3.28% | +0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.25% | 4.17% | +18.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.01% | 6.95% | +6.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.01% | 8.20% | +4.81% |
UDHY.DE vs. IBC2.DE - Expense Ratio Comparison
UDHY.DE has a 0.20% expense ratio, which is lower than IBC2.DE's 0.55% expense ratio.
Dividends
UDHY.DE vs. IBC2.DE - Dividend Comparison
UDHY.DE's dividend yield for the trailing twelve months is around 1.70%, less than IBC2.DE's 6.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IBC2.DE iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) | 6.21% | 6.07% | 6.33% | 5.59% | 5.13% | 4.34% | 4.82% | 5.58% | 3.90% |
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 IBC2.DE have a correlation of 0.14, 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 0.55% for IBC2.DE.
UDHY.DE tracks ICE BofAML US High Yield Constrained, while IBC2.DE tracks Markit iBoxx USD Liquid High Yield Capped Index (EUR Hedged). Their fees differ too: 0.20% for UDHY.DE and 0.55% for IBC2.DE.
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