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VPU vs. IHYG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VPU vs. IHYG.L

Last updated Jun 9, 2026

VPU (Vanguard Utilities ETF) and IHYG.L (iShares € High Yield Corp Bond UCITS ETF EUR (Dist)) are both exchange-traded funds - VPU is a Utilities Equities fund tracking the MSCI US Investable Market Utilities 25/50 Index, while IHYG.L is a European High Yield Bonds fund tracking the Markit iBoxx Euro Liquid High Yield Index. Both are passively managed. Over the past 10 years, VPU returned 8.85%/yr vs 3.35%/yr for IHYG.L. At a 0.19 correlation, their price movements are largely independent. VPU charges 0.09%/yr vs 0.50%/yr for IHYG.L.

Performance

VPU vs. IHYG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Utilities ETF (VPU) and iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VPU is traded in USD, while IHYG.L is traded in EUR. To make them comparable, the IHYG.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VPU achieves a 2.68% return, which is significantly higher than IHYG.L's -1.29% return. Over the past 10 years, VPU has outperformed IHYG.L with an annualized return of 8.85%, while IHYG.L has yielded a comparatively lower 3.35% annualized return.

VPU

1D
-1.87%
1M
-2.65%
YTD
2.68%
6M
3.11%
1Y
10.68%
3Y*
12.74%
5Y*
8.91%
10Y*
8.85%

IHYG.L

1D
0.01%
1M
-1.85%
YTD
-1.29%
6M
0.46%
1Y
4.25%
3Y*
8.59%
5Y*
1.48%
10Y*
3.35%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VPU vs. IHYG.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VPU
Vanguard Utilities ETF		2.68%16.46%23.04%-7.45%1.06%17.40%-0.74%24.89%4.38%12.44%
IHYG.L
iShares € High Yield Corp Bond UCITS ETF EUR (Dist)		-1.29%19.47%-0.83%14.86%-14.91%-3.98%10.09%7.57%-8.07%19.64%

Correlation

The correlation between VPU and IHYG.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.15

Correlation (3Y)
Calculated over the trailing 3-year period

0.20

Correlation (5Y)
Calculated over the trailing 5-year period

0.24

Correlation (10Y)
Calculated over the trailing 10-year period

0.18

Correlation (All Time)
Calculated using the full available price history since Sep 6, 2010

0.19

VPU vs. IHYG.L - Sectors Allocation Comparison

Sectors
VPU
IHYG.L

Utilities

99.3%

-

Energy

0.5%

-

Industrials

0.2%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

100.0%

Healthcare

-

-

Real Estate

-

-

Technology

-

-

Utilities

VPU
99.3%
IHYG.L

-

Energy

VPU
0.5%
IHYG.L

-

Industrials

VPU
0.2%
IHYG.L

-

Basic Materials

VPU

-

IHYG.L

-

Communication Services

VPU

-

IHYG.L

-

Consumer Cyclical

VPU

-

IHYG.L

-

Consumer Defensive

VPU

-

IHYG.L

-

Financial Services

VPU

-

IHYG.L
100.0%

Healthcare

VPU

-

IHYG.L

-

Real Estate

VPU

-

IHYG.L

-

Technology

VPU

-

IHYG.L

-

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Vanguard Utilities ETF

iShares € High Yield Corp Bond UCITS ETF EUR (Dist)

Often compared with VPU:
VPU vs. XLUVPU vs. FUTYVPU vs. VOOVPU vs. IDUVPU vs. SPYVPU vs. VUIAXVPU vs. SCHD
Often compared with IHYG.L:
IHYG.L vs. IEAC.ASIHYG.L vs. XHYA.DEIHYG.L vs. XAT1.DEIHYG.L vs. GLDIHYG.L vs. SDHA.LIHYG.L vs. YIEL.LIHYG.L vs. XHYG.L

Return for Risk

VPU vs. IHYG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VPU
VPU Risk / Return Rank: 2323
Overall Rank
VPU Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
VPU Sortino Ratio Rank: 2222
Sortino Ratio Rank
VPU Omega Ratio Rank: 2222
Omega Ratio Rank
VPU Calmar Ratio Rank: 2727
Calmar Ratio Rank
VPU Martin Ratio Rank: 2222
Martin Ratio Rank
IHYG.L
IHYG.L Risk / Return Rank: 2828
Overall Rank
IHYG.L Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
IHYG.L Sortino Ratio Rank: 2828
Sortino Ratio Rank
IHYG.L Omega Ratio Rank: 2626
Omega Ratio Rank
IHYG.L Calmar Ratio Rank: 2525
Calmar Ratio Rank
IHYG.L Martin Ratio Rank: 3333
Martin Ratio Rank
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.

VPU vs. IHYG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Utilities ETF (VPU) and iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.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.

VPUIHYG.LDifference
Sharpe ratioReturn per unit of total volatility
0.75
0.55

+0.20

Sortino ratioReturn per unit of downside risk
1.09
0.85

+0.24

Omega ratioGain probability vs. loss probability

1.14

1.10

+0.04

Calmar ratioReturn relative to maximum drawdown

1.20

0.58

+0.63

Martin ratioReturn relative to average drawdown

2.66

1.67

+0.99

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VPU vs. IHYG.L - Sharpe Ratio Comparison

The current VPU Sharpe Ratio is 0.75, which is higher than the IHYG.L Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of VPU and IHYG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VPUIHYG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.75

0.55

+0.20

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.52

0.14

+0.39

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.46

0.31

+0.15

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

0.31

+0.22

Drawdowns

VPU vs. IHYG.L - Drawdown Comparison

The maximum VPU drawdown since its inception was -46.31%, which is greater than IHYG.L's maximum drawdown of -31.65%. Use the drawdown chart below to compare losses from any high point for VPU and IHYG.L.

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Drawdown Indicators

VPUIHYG.LDifference

Max Drawdown

Largest peak-to-trough decline

-46.31%

-31.65%

-14.66%

Max Drawdown (1Y)

Largest decline over 1 year

-8.90%

-7.35%

-1.55%

Max Drawdown (3Y)

Largest decline over 3 years

-17.34%

-7.61%

-9.73%

Max Drawdown (5Y)

Largest decline over 5 years

-25.15%

-31.62%

+6.47%

Max Drawdown (10Y)

Largest decline over 10 years

-36.42%

-31.65%

-4.77%

Current Drawdown

Current decline from peak

-7.71%

-3.97%

-3.74%

Average Drawdown

Average peak-to-trough decline

-7.78%

-8.99%

+1.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.02%

2.54%

+1.48%

Volatility

VPU vs. IHYG.L - Volatility Comparison

Vanguard Utilities ETF (VPU) has a higher volatility of 5.56% compared to iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L) at 2.00%. This indicates that VPU's price experiences larger fluctuations and is considered to be riskier than IHYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VPUIHYG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.56%

2.00%

+3.56%

Volatility (6M)

Calculated over the trailing 6-month period

11.53%

5.86%

+5.67%

Volatility (1Y)

Calculated over the trailing 1-year period

14.38%

7.71%

+6.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.07%

10.62%

+6.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.14%

10.79%

+8.35%

VPU vs. IHYG.L - Expense Ratio Comparison

VPU has a 0.09% expense ratio, which is lower than IHYG.L's 0.50% expense ratio.

Dividends

VPU vs. IHYG.L - Dividend Comparison

VPU's dividend yield for the trailing twelve months is around 2.70%, less than IHYG.L's 5.18% yield.

PositionTTM20252024202320222021202020192018201720162015
IHYG.L
iShares € High Yield Corp Bond UCITS ETF EUR (Dist)		5.18%5.44%6.10%5.41%3.70%3.07%3.67%3.76%3.68%3.77%4.03%4.59%
VPU
Vanguard Utilities ETF		2.70%2.73%3.02%3.49%2.98%2.70%3.17%2.83%3.23%3.18%3.19%3.63%

Frequently Asked Questions

VPU and IHYG.L have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VPU is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VPU is cheaper with a 0.09% expense ratio, compared with 0.50% for IHYG.L.

VPU is categorized as Utilities Equities, while IHYG.L is European High Yield Bonds. VPU tracks MSCI US Investable Market Utilities 25/50 Index, while IHYG.L tracks Markit iBoxx Euro Liquid High Yield Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.09% for VPU and 0.50% for IHYG.L.

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