UDHY.DE vs. JGHY.DE
UDHY.DE (iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)) and JGHY.DE (JPM Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc) are both High Yield Bonds funds. UDHY.DE is passively managed, while JGHY.DE is actively managed. Over the past 3 years, UDHY.DE returned 5.82%/yr vs 7.84%/yr for JGHY.DE. Their correlation of 0.85 suggests significant overlap in exposure. UDHY.DE charges 0.20%/yr vs 0.35%/yr for JGHY.DE.
Performance
UDHY.DE vs. JGHY.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 JGHY.DE's 5.12% return.
UDHY.DE
- 1D
- 0.00%
- 1M
- -0.09%
- 6M
- 1.21%
- YTD
- -0.44%
- 1Y
- 1.74%
- 3Y*
- 5.82%
- 5Y*
- —
- 10Y*
- —
JGHY.DE
- 1D
- 0.11%
- 1M
- 1.43%
- 6M
- 3.65%
- YTD
- 5.12%
- 1Y
- 8.71%
- 3Y*
- 7.84%
- 5Y*
- 4.43%
- 10Y*
- —
UDHY.DE vs. JGHY.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% |
JGHY.DE JPM Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc | 5.12% | -0.68% | 12.22% | 7.50% | -2.78% |
Correlation
The correlation between UDHY.DE and JGHY.DE is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2022 | 0.85 |
The correlation between UDHY.DE and JGHY.DE has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.
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Return for Risk
UDHY.DE vs. JGHY.DE — Risk / Return Rank
UDHY.DE
JGHY.DE
UDHY.DE vs. JGHY.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 JPM Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc (JGHY.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 | JGHY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.52 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.37 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 3.74 | -3.64 |
| Martin ratioReturn relative to average drawdown | 0.14 | 12.46 | -12.32 |
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Drawdowns
UDHY.DE vs. JGHY.DE - Drawdown Comparison
The maximum UDHY.DE drawdown since its inception was -18.01%, smaller than the maximum JGHY.DE drawdown of -24.72%. Use the drawdown chart below to compare losses from any high point for UDHY.DE and JGHY.DE.
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Drawdown Indicators
| UDHY.DE | JGHY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.01% | -24.72% | +6.71% |
Max Drawdown (1Y)Largest decline over 1 year | -18.01% | -2.32% | -15.69% |
Max Drawdown (3Y)Largest decline over 3 years | -18.01% | -10.49% | -7.52% |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.49% | — |
Current DrawdownCurrent decline from peak | -14.38% | -0.32% | -14.06% |
Average DrawdownAverage peak-to-trough decline | -5.92% | -6.58% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.70% | 0.70% | +12.00% |
Volatility
UDHY.DE vs. JGHY.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 JPM Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc (JGHY.DE) at 1.04%. This indicates that UDHY.DE's price experiences larger fluctuations and is considered to be riskier than JGHY.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 | JGHY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.03% | 1.04% | +0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 4.02% | 3.00% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.25% | 4.54% | +17.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.01% | 6.56% | +6.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.01% | 8.78% | +4.23% |
UDHY.DE vs. JGHY.DE - Expense Ratio Comparison
UDHY.DE has a 0.20% expense ratio, which is lower than JGHY.DE's 0.35% expense ratio.
Dividends
UDHY.DE vs. JGHY.DE - Dividend Comparison
UDHY.DE's dividend yield for the trailing twelve months is around 1.70%, while JGHY.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
JGHY.DE JPM Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UDHY.DE iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | 1.70% | 8.01% | 7.25% | 6.34% | 1.63% |
Frequently Asked Questions
UDHY.DE and JGHY.DE have a correlation of 0.81, 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 0.35% for JGHY.DE.
They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.20% for UDHY.DE and 0.35% for JGHY.DE.
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