VHYG.L vs. IGF

Last updated Jun 12, 2026

VHYG.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF) and IGF (iShares Global Infrastructure ETF) are both exchange-traded funds - VHYG.L is a Global Equities fund tracking the MSCI World High Dividend Yield NR USD, while IGF is a Industrials Equities fund tracking the S&P Global Infrastructure Index. Both are passively managed. Over the past 5 years, VHYG.L returned 11.55%/yr vs 11.22%/yr for IGF. A 0.51 correlation means they provide meaningful diversification when combined. VHYG.L charges 0.29%/yr vs 0.39%/yr for IGF.

Performance

VHYG.L vs. IGF - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE All-World High Dividend Yield UCITS ETF (VHYG.L) and iShares Global Infrastructure ETF (IGF). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VHYG.L is traded in GBP, while IGF is traded in USD. To make them comparable, the IGF values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VHYG.L achieves a 11.13% return, which is significantly higher than IGF's 9.54% return.

VHYG.L

• 1D: 0.51%
• 1M: 2.60%
• YTD: 11.13%
• 6M: 12.36%
• 1Y: 26.50%
• 3Y*: 15.70%
• 5Y*: 11.55%
• 10Y*: —

IGF

• 1D: 1.00%
• 1M: 0.25%
• YTD: 9.54%
• 6M: 9.12%
• 1Y: 17.77%
• 3Y*: 13.53%
• 5Y*: 11.22%
• 10Y*: 9.17%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VHYG.L vs. IGF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VHYG.L Vanguard FTSE All-World High Dividend Yield UCITS ETF	11.13%	18.36%	10.98%	5.02%	6.20%	19.28%	-3.61%	-18.20%
IGF iShares Global Infrastructure ETF	9.54%	12.66%	16.82%	0.84%	10.49%	12.63%	-9.24%	-1.32%

Correlation

The correlation between VHYG.L and IGF is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Sep 24, 2019	0.51

The correlation between VHYG.L and IGF has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.

VHYG.L vs. IGF - Sectors Allocation Comparison

Sectors	VHYG.L	IGF
Financial Services	28.6%	-
Industrials	12.3%	38.8%
Healthcare	11.2%	-
Energy	9.4%	20.1%
Consumer Defensive	8.7%	-
Technology	7.7%	-
Consumer Cyclical	7.0%	-
Utilities	5.7%	41.1%
Basic Materials	5.1%	-
Communication Services	3.5%	-
Real Estate	0.9%	0.1%

Return for Risk

VHYG.L vs. IGF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VHYG.L

VHYG.L Risk / Return Rank: 89
VHYG.L Sharpe Ratio Rank: 93
VHYG.L Sortino Ratio Rank: 92
VHYG.L Omega Ratio Rank: 92
VHYG.L Calmar Ratio Rank: 84
VHYG.L Martin Ratio Rank: 82

IGF

IGF Risk / Return Rank: 58
IGF Sharpe Ratio Rank: 55
IGF Sortino Ratio Rank: 56
IGF Omega Ratio Rank: 54
IGF Calmar Ratio Rank: 68
IGF Martin Ratio Rank: 56

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VHYG.L vs. IGF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World High Dividend Yield UCITS ETF (VHYG.L) and iShares Global Infrastructure ETF (IGF). 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.

	VHYG.L	IGF	Difference
Sharpe ratio: Return per unit of total volatility	2.88	1.87	+1.01
Sortino ratio: Return per unit of downside risk	3.87	2.64	+1.23
Omega ratio: Gain probability vs. loss probability	1.53	1.32	+0.21
Calmar ratio: Return relative to maximum drawdown	3.81	3.50	+0.31
Martin ratio: Return relative to average drawdown	13.66	8.94	+4.72

VHYG.L vs. IGF - Sharpe Ratio Comparison

The current VHYG.L Sharpe Ratio is 2.88, which is higher than the IGF Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of VHYG.L and IGF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VHYG.L vs. IGF - Drawdown Comparison

The maximum VHYG.L drawdown since its inception was -39.80%, roughly equal to the maximum IGF drawdown of -40.37%. Use the drawdown chart below to compare losses from any high point for VHYG.L and IGF.

Drawdown Indicators

	VHYG.L	IGF	Difference
Max Drawdown Largest peak-to-trough decline	-39.80%	-40.37%	+0.57%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-5.10%	-1.83%
Max Drawdown (3Y) Largest decline over 3 years	-19.90%	-11.18%	-8.72%
Max Drawdown (5Y) Largest decline over 5 years	-19.90%	-17.01%	-2.89%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.17%	—
Current Drawdown Current decline from peak	-0.43%	-3.07%	+2.64%
Average Drawdown Average peak-to-trough decline	-9.84%	-7.57%	-2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	1.99%	-0.06%

Volatility

VHYG.L vs. IGF - Volatility Comparison

The current volatility for Vanguard FTSE All-World High Dividend Yield UCITS ETF (VHYG.L) is 2.00%, while iShares Global Infrastructure ETF (IGF) has a volatility of 3.33%. This indicates that VHYG.L experiences smaller price fluctuations and is considered to be less risky than IGF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHYG.L	IGF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.00%	3.33%	-1.33%
Volatility (6M) Calculated over the trailing 6-month period	7.03%	7.73%	-0.70%
Volatility (1Y) Calculated over the trailing 1-year period	9.17%	9.55%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.57%	12.11%	+5.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.75%	15.98%	+3.77%

VHYG.L vs. IGF - Expense Ratio Comparison

VHYG.L has a 0.29% expense ratio, which is lower than IGF's 0.39% expense ratio.

Dividends

VHYG.L vs. IGF - Dividend Comparison

VHYG.L has not paid dividends to shareholders, while IGF's dividend yield for the trailing twelve months is around 2.96%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGF iShares Global Infrastructure ETF	2.96%	3.23%	3.21%	3.36%	2.67%	2.42%	2.33%	3.27%	3.52%	2.95%	2.98%	3.25%
VHYG.L Vanguard FTSE All-World High Dividend Yield UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VHYG.L and IGF in my portfolio?

VHYG.L and IGF have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VHYG.L or IGF?

On fees, VHYG.L is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VHYG.L or IGF?

VHYG.L is cheaper with a 0.29% expense ratio, compared with 0.39% for IGF.

What is the main difference between VHYG.L and IGF?

VHYG.L is categorized as Global Equities, while IGF is Industrials Equities. VHYG.L tracks MSCI World High Dividend Yield NR USD, while IGF tracks S&P Global Infrastructure Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.29% for VHYG.L and 0.39% for IGF.