V3GS.L vs. HYLD.L
V3GS.L (Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating) and HYLD.L (iShares Global High Yield Corp Bond UCITS ETF USD (Dist)) are both Global Corporate Bonds funds - V3GS.L tracks the Bloomberg Gbl Agg Corp TR Hdg GBP while HYLD.L tracks the Markit iBoxx Global Developed Markets Liquid High Yield Capped (USD) Index. Both are passively managed. Over the past 5 years, V3GS.L returned 3.42%/yr vs 3.50%/yr for HYLD.L. At a 0.20 correlation, their price movements are largely independent. V3GS.L charges 0.15%/yr vs 0.50%/yr for HYLD.L.
Performance
V3GS.L vs. HYLD.L - Performance Comparison
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Different Trading Currencies
V3GS.L is traded in GBP, while HYLD.L is traded in USD. To make them comparable, the HYLD.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, V3GS.L achieves a 1.17% return, which is significantly higher than HYLD.L's 0.53% return.
V3GS.L
- 1D
- 0.19%
- 1M
- -0.58%
- 6M
- 0.97%
- YTD
- 1.17%
- 1Y
- 6.30%
- 3Y*
- 8.80%
- 5Y*
- 3.42%
- 10Y*
- —
HYLD.L
- 1D
- -0.01%
- 1M
- -1.76%
- 6M
- 0.14%
- YTD
- 0.53%
- 1Y
- 3.90%
- 3Y*
- 6.41%
- 5Y*
- 3.50%
- 10Y*
- 4.04%
V3GS.L vs. HYLD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
V3GS.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating | 1.17% | 10.46% | 7.79% | 12.25% | -12.52% | 2.21% |
HYLD.L iShares Global High Yield Corp Bond UCITS ETF USD (Dist) | 0.53% | 6.27% | 4.40% | 7.88% | -1.53% | 2.97% |
Correlation
The correlation between V3GS.L and HYLD.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since May 20, 2021 | 0.20 |
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Return for Risk
V3GS.L vs. HYLD.L — Risk / Return Rank
V3GS.L
HYLD.L
V3GS.L vs. HYLD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating (V3GS.L) and iShares Global High Yield Corp Bond UCITS ETF USD (Dist) (HYLD.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.
| V3GS.L | HYLD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.12 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | 1.41 | +1.52 |
| Martin ratioReturn relative to average drawdown | 9.69 | 4.11 | +5.58 |
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Drawdowns
V3GS.L vs. HYLD.L - Drawdown Comparison
The maximum V3GS.L drawdown since its inception was -18.23%, which is greater than HYLD.L's maximum drawdown of -16.98%. Use the drawdown chart below to compare losses from any high point for V3GS.L and HYLD.L.
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Drawdown Indicators
| V3GS.L | HYLD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.23% | -16.98% | -1.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.14% | -2.75% | +0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -2.73% | -3.81% | +1.08% |
Max Drawdown (5Y)Largest decline over 5 years | -18.23% | -9.38% | -8.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.98% | — |
Current DrawdownCurrent decline from peak | -0.96% | -1.93% | +0.97% |
Average DrawdownAverage peak-to-trough decline | -4.49% | -2.94% | -1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.95% | -0.30% |
Volatility
V3GS.L vs. HYLD.L - Volatility Comparison
The current volatility for Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating (V3GS.L) is 1.11%, while iShares Global High Yield Corp Bond UCITS ETF USD (Dist) (HYLD.L) has a volatility of 1.76%. This indicates that V3GS.L experiences smaller price fluctuations and is considered to be less risky than HYLD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| V3GS.L | HYLD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 1.76% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 4.92% | -1.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.02% | 5.98% | -1.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 7.78% | -1.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.77% | 9.25% | -3.48% |
V3GS.L vs. HYLD.L - Expense Ratio Comparison
V3GS.L has a 0.15% expense ratio, which is lower than HYLD.L's 0.50% expense ratio.
Dividends
V3GS.L vs. HYLD.L - Dividend Comparison
V3GS.L's dividend yield for the trailing twelve months is around 2.53%, less than HYLD.L's 7.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYLD.L iShares Global High Yield Corp Bond UCITS ETF USD (Dist) | 7.11% | 5.32% | 5.61% | 4.70% | 4.01% | 3.95% | 4.42% | 4.77% | 4.98% | 4.73% | 5.08% | 5.31% |
V3GS.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating | 2.53% | 3.59% | 4.25% | 4.00% | 2.43% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
V3GS.L and HYLD.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, V3GS.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
V3GS.L is cheaper with a 0.15% expense ratio, compared with 0.50% for HYLD.L.
V3GS.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP, while HYLD.L tracks Markit iBoxx Global Developed Markets Liquid High Yield Capped (USD) Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.15% for V3GS.L and 0.50% for HYLD.L.
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