VHYG.L vs. IUSZ.DE

Last updated Jun 5, 2026

VHYG.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF) and IUSZ.DE (iShares Core FTSE 100 UCITS ETF (Dist)) are both exchange-traded funds - VHYG.L is a Global Equities fund tracking the MSCI World High Dividend Yield NR USD, while IUSZ.DE is a Europe Equities fund tracking the FTSE 100. Both are passively managed. Over the past 5 years, VHYG.L returned 11.68%/yr vs 10.03%/yr for IUSZ.DE. A 0.71 correlation means they provide meaningful diversification when combined. VHYG.L charges 0.29%/yr vs 0.07%/yr for IUSZ.DE.

Performance

VHYG.L vs. IUSZ.DE - 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 Core FTSE 100 UCITS ETF (Dist) (IUSZ.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VHYG.L is traded in GBP, while IUSZ.DE is traded in EUR. To make them comparable, the IUSZ.DE 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 11.62% return, which is significantly higher than IUSZ.DE's 5.61% return.

VHYG.L

• 1D: 0.37%
• 1M: 2.49%
• YTD: 11.62%
• 6M: 12.92%
• 1Y: 28.77%
• 3Y*: 15.99%
• 5Y*: 11.68%
• 10Y*: —

IUSZ.DE

• 1D: 0.23%
• 1M: -0.36%
• YTD: 5.61%
• 6M: 7.72%
• 1Y: 17.18%
• 3Y*: 11.78%
• 5Y*: 10.03%
• 10Y*: —

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

VHYG.L vs. IUSZ.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VHYG.L Vanguard FTSE All-World High Dividend Yield UCITS ETF	11.62%	18.36%	10.99%	5.01%	6.20%	19.28%	-3.61%	-18.20%
IUSZ.DE iShares Core FTSE 100 UCITS ETF (Dist)	5.61%	22.53%	5.00%	6.90%	4.06%	16.02%	-10.93%	5.65%

Correlation

The correlation between VHYG.L and IUSZ.DE is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Sep 25, 2019	0.71

The correlation between VHYG.L and IUSZ.DE shifts across timeframes, from 0.60 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VHYG.L vs. IUSZ.DE — 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: 86
VHYG.L Sharpe Ratio Rank: 90
VHYG.L Sortino Ratio Rank: 90
VHYG.L Omega Ratio Rank: 90
VHYG.L Calmar Ratio Rank: 80
VHYG.L Martin Ratio Rank: 78

IUSZ.DE

IUSZ.DE Risk / Return Rank: 34
IUSZ.DE Sharpe Ratio Rank: 33
IUSZ.DE Sortino Ratio Rank: 32
IUSZ.DE Omega Ratio Rank: 34
IUSZ.DE Calmar Ratio Rank: 36
IUSZ.DE Martin Ratio Rank: 38

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. IUSZ.DE - 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 Core FTSE 100 UCITS ETF (Dist) (IUSZ.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.

	VHYG.L	IUSZ.DE	Difference
Sharpe ratio: Return per unit of total volatility	3.10	1.52	+1.58
Sortino ratio: Return per unit of downside risk	4.11	2.14	+1.97
Omega ratio: Gain probability vs. loss probability	1.58	1.29	+0.30
Calmar ratio: Return relative to maximum drawdown	4.10	1.87	+2.23
Martin ratio: Return relative to average drawdown	14.82	6.25	+8.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VHYG.L vs. IUSZ.DE - Sharpe Ratio Comparison

The current VHYG.L Sharpe Ratio is 3.10, which is higher than the IUSZ.DE Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of VHYG.L and IUSZ.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VHYG.L	IUSZ.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	1.52	+1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	0.75	+0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.47	-0.06

Drawdowns

VHYG.L vs. IUSZ.DE - Drawdown Comparison

The maximum VHYG.L drawdown since its inception was -39.80%, which is greater than IUSZ.DE's maximum drawdown of -34.90%. Use the drawdown chart below to compare losses from any high point for VHYG.L and IUSZ.DE.

Drawdown Indicators

	VHYG.L	IUSZ.DE	Difference
Max Drawdown Largest peak-to-trough decline	-39.80%	-34.90%	-4.90%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-9.28%	+2.35%
Max Drawdown (3Y) Largest decline over 3 years	-12.76%	-14.44%	+1.68%
Max Drawdown (5Y) Largest decline over 5 years	-12.76%	-14.44%	+1.68%
Current Drawdown Current decline from peak	0.00%	-4.22%	+4.22%
Average Drawdown Average peak-to-trough decline	-8.23%	-4.60%	-3.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.78%	-0.86%

Volatility

VHYG.L vs. IUSZ.DE - Volatility Comparison

The current volatility for Vanguard FTSE All-World High Dividend Yield UCITS ETF (VHYG.L) is 2.27%, while iShares Core FTSE 100 UCITS ETF (Dist) (IUSZ.DE) has a volatility of 3.80%. This indicates that VHYG.L experiences smaller price fluctuations and is considered to be less risky than IUSZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHYG.L	IUSZ.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.27%	3.80%	-1.53%
Volatility (6M) Calculated over the trailing 6-month period	7.12%	9.77%	-2.65%
Volatility (1Y) Calculated over the trailing 1-year period	9.16%	11.38%	-2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.12%	13.14%	-2.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.91%	15.31%	+0.60%

VHYG.L vs. IUSZ.DE - Expense Ratio Comparison

VHYG.L has a 0.29% expense ratio, which is higher than IUSZ.DE's 0.07% expense ratio.

Dividends

VHYG.L vs. IUSZ.DE - Dividend Comparison

Neither VHYG.L nor IUSZ.DE has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IUSZ.DE iShares Core FTSE 100 UCITS ETF (Dist)	0.00%	0.00%	0.00%	3.09%	3.86%	3.68%	3.06%	4.32%	4.54%	4.01%	0.73%
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%

Frequently Asked Questions

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

VHYG.L and IUSZ.DE have a correlation of 0.60, 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 IUSZ.DE?

On fees, IUSZ.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VHYG.L or IUSZ.DE?

IUSZ.DE is cheaper with a 0.07% expense ratio, compared with 0.29% for VHYG.L.

What is the main difference between VHYG.L and IUSZ.DE?

VHYG.L is categorized as Global Equities, while IUSZ.DE is Europe Equities. VHYG.L tracks MSCI World High Dividend Yield NR USD, while IUSZ.DE tracks FTSE 100. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.29% for VHYG.L and 0.07% for IUSZ.DE.