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WDMF.AX vs. IHHY.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

WDMF.AX vs. IHHY.AX

Last updated Jul 18, 2026
Documentation

WDMF.AX (iShares World Equity Factor ETF) and IHHY.AX (iShares Global High Yield Bond (AUD Hedged) ETF) are both exchange-traded funds - WDMF.AX is a Global Equities fund tracking the iShares World Equity Factor Index, while IHHY.AX is a Total Bond Market fund tracking the iShares Global High Yield Bond (AUD Hedged) Index. Both are passively managed. Over the past 5 years, WDMF.AX returned 12.09%/yr vs 2.97%/yr for IHHY.AX. At a 0.26 correlation, their price movements are largely independent.

Performance

WDMF.AX vs. IHHY.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in iShares World Equity Factor ETF (WDMF.AX) and iShares Global High Yield Bond (AUD Hedged) ETF (IHHY.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, WDMF.AX achieves a 4.62% return, which is significantly higher than IHHY.AX's 1.70% return.

WDMF.AX

1D
-1.28%
1M
0.58%
6M
4.22%
YTD
4.62%
1Y
13.46%
3Y*
18.18%
5Y*
12.09%
10Y*
—

IHHY.AX

1D
-0.38%
1M
-0.09%
6M
1.39%
YTD
1.70%
1Y
4.88%
3Y*
7.17%
5Y*
2.97%
10Y*
3.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

WDMF.AX vs. IHHY.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
WDMF.AX
iShares World Equity Factor ETF		4.62%15.40%30.82%14.10%-8.56%26.94%0.86%23.27%-3.75%18.89%
IHHY.AX
iShares Global High Yield Bond (AUD Hedged) ETF		1.70%7.65%6.11%9.78%-9.32%2.80%1.62%10.84%-4.15%6.69%

Correlation

The correlation between WDMF.AX and IHHY.AX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.28

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

0.22

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

0.31

Correlation (All Time)
Calculated using the full available price history since Oct 11, 2016

0.26

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iShares World Equity Factor ETF

iShares Global High Yield Bond (AUD Hedged) ETF

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Often compared with IHHY.AX:
IHHY.AX vs. BNDS.AXIHHY.AX vs. BOND.AXIHHY.AX vs. IAF.AXIHHY.AX vs. IHEB.AXIHHY.AX vs. QPON.AXIHHY.AX vs. VAF.AXIHHY.AX vs. VEFI.AX

Return for Risk

WDMF.AX vs. IHHY.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WDMF.AX
WDMF.AX Risk / Return Rank: 4545
Overall Rank
WDMF.AX Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
WDMF.AX Sortino Ratio Rank: 5050
Sortino Ratio Rank
WDMF.AX Omega Ratio Rank: 5353
Omega Ratio Rank
WDMF.AX Calmar Ratio Rank: 3434
Calmar Ratio Rank
WDMF.AX Martin Ratio Rank: 3636
Martin Ratio Rank
IHHY.AX
IHHY.AX Risk / Return Rank: 4040
Overall Rank
IHHY.AX Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
IHHY.AX Sortino Ratio Rank: 3232
Sortino Ratio Rank
IHHY.AX Omega Ratio Rank: 3434
Omega Ratio Rank
IHHY.AX Calmar Ratio Rank: 4545
Calmar Ratio Rank
IHHY.AX Martin Ratio Rank: 5353
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.

WDMF.AX vs. IHHY.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares World Equity Factor ETF (WDMF.AX) and iShares Global High Yield Bond (AUD Hedged) ETF (IHHY.AX). 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.

WDMF.AXIHHY.AXDifference
Sharpe ratioReturn per unit of total volatility
1.33
0.91

+0.42

Sortino ratioReturn per unit of downside risk
1.89
1.35

+0.54

Omega ratioGain probability vs. loss probability

1.25

1.18

+0.07

Calmar ratioReturn relative to maximum drawdown

1.35

1.77

-0.42

Martin ratioReturn relative to average drawdown

4.09

6.77

-2.69

WDMF.AX vs. IHHY.AX - Sharpe Ratio Comparison

The current WDMF.AX Sharpe Ratio is 1.33, which is higher than the IHHY.AX Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of WDMF.AX and IHHY.AX, 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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Drawdowns

WDMF.AX vs. IHHY.AX - Drawdown Comparison

The maximum WDMF.AX drawdown since its inception was -25.36%, smaller than the maximum IHHY.AX drawdown of -31.56%. Use the drawdown chart below to compare losses from any high point for WDMF.AX and IHHY.AX.

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Drawdown Indicators

WDMF.AXIHHY.AXDifference

Max Drawdown

Largest peak-to-trough decline

-25.36%

-31.56%

+6.20%

Max Drawdown (1Y)

Largest decline over 1 year

-9.72%

-2.68%

-7.04%

Max Drawdown (3Y)

Largest decline over 3 years

-13.37%

-6.82%

-6.55%

Max Drawdown (5Y)

Largest decline over 5 years

-17.44%

-14.99%

-2.45%

Max Drawdown (10Y)

Largest decline over 10 years

—

-31.56%

—

Current Drawdown

Current decline from peak

-1.31%

-0.41%

-0.90%

Average Drawdown

Average peak-to-trough decline

-3.96%

-2.78%

-1.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.24%

0.71%

+2.53%

Volatility

WDMF.AX vs. IHHY.AX - Volatility Comparison

iShares World Equity Factor ETF (WDMF.AX) has a higher volatility of 2.63% compared to iShares Global High Yield Bond (AUD Hedged) ETF (IHHY.AX) at 1.73%. This indicates that WDMF.AX's price experiences larger fluctuations and is considered to be riskier than IHHY.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

WDMF.AXIHHY.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.63%

1.73%

+0.90%

Volatility (6M)

Calculated over the trailing 6-month period

7.84%

4.75%

+3.09%

Volatility (1Y)

Calculated over the trailing 1-year period

9.88%

5.21%

+4.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.37%

8.07%

+4.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.12%

10.03%

+3.09%

Dividends

WDMF.AX vs. IHHY.AX - Dividend Comparison

WDMF.AX's dividend yield for the trailing twelve months is around 3.06%, less than IHHY.AX's 6.90% yield.

PositionTTM2025202420232022202120202019201820172016
IHHY.AX
iShares Global High Yield Bond (AUD Hedged) ETF		6.90%5.59%5.87%4.99%3.70%3.95%5.24%2.29%3.11%6.98%2.71%
WDMF.AX
iShares World Equity Factor ETF		3.06%3.16%5.04%2.73%8.42%5.27%1.58%1.56%3.60%3.66%0.00%

Frequently Asked Questions

WDMF.AX and IHHY.AX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

WDMF.AX is categorized as Global Equities, while IHHY.AX is Total Bond Market. WDMF.AX tracks iShares World Equity Factor Index, while IHHY.AX tracks iShares Global High Yield Bond (AUD Hedged) Index.

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