WING.L vs. HYGB.L
WING.L (iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist)) and HYGB.L (VanEck Emerging Markets High Yield Bond UCITS ETF) are both High Yield Bonds funds - WING.L tracks the iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) while HYGB.L tracks the VanEck Emerging Markets High Yield Bond UCITS ETF. Both are passively managed. Over the past 5 years, WING.L returned 2.41%/yr vs 2.90%/yr for HYGB.L. At a 0.18 correlation, their price movements are largely independent. WING.L charges 0.50%/yr vs 0.40%/yr for HYGB.L.
Performance
WING.L vs. HYGB.L - Performance Comparison
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Different Trading Currencies
WING.L is traded in USD, while HYGB.L is traded in GBP. To make them comparable, the HYGB.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, WING.L achieves a 0.95% return, which is significantly lower than HYGB.L's 4.01% return.
WING.L
- 1D
- 0.37%
- 1M
- 0.04%
- 6M
- 0.95%
- YTD
- 0.95%
- 1Y
- 5.80%
- 3Y*
- 7.44%
- 5Y*
- 2.41%
- 10Y*
- 5.62%
HYGB.L
- 1D
- 0.58%
- 1M
- 0.40%
- 6M
- 3.60%
- YTD
- 4.01%
- 1Y
- 8.89%
- 3Y*
- 10.43%
- 5Y*
- 2.90%
- 10Y*
- —
WING.L vs. HYGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
WING.L iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) | 0.95% | 12.63% | 2.89% | 12.92% | -14.36% | 2.26% | 17.97% | 15.54% | -5.11% |
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF | 4.01% | 9.22% | 11.83% | 7.02% | -12.94% | -0.32% | 5.02% | 15.45% | -30.18% |
Correlation
The correlation between WING.L and HYGB.L is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.18 |
The correlation between WING.L and HYGB.L shifts across timeframes, from -0.03 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WING.L vs. HYGB.L — Risk / Return Rank
WING.L
HYGB.L
WING.L vs. HYGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) (WING.L) and VanEck Emerging Markets High Yield Bond UCITS ETF (HYGB.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.
| WING.L | HYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.32 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 3.04 | -1.76 |
| Martin ratioReturn relative to average drawdown | 5.06 | 13.36 | -8.30 |
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Drawdowns
WING.L vs. HYGB.L - Drawdown Comparison
The maximum WING.L drawdown since its inception was -25.18%, smaller than the maximum HYGB.L drawdown of -37.51%. Use the drawdown chart below to compare losses from any high point for WING.L and HYGB.L.
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Drawdown Indicators
| WING.L | HYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.18% | -37.51% | +12.33% |
Max Drawdown (1Y)Largest decline over 1 year | -4.36% | -2.91% | -1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | -4.72% | -0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -21.62% | -25.04% | +3.42% |
Max Drawdown (10Y)Largest decline over 10 years | -25.18% | — | — |
Current DrawdownCurrent decline from peak | -0.50% | -3.08% | +2.58% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -21.20% | +17.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 0.66% | +0.45% |
Volatility
WING.L vs. HYGB.L - Volatility Comparison
iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) (WING.L) and VanEck Emerging Markets High Yield Bond UCITS ETF (HYGB.L) have volatilities of 1.58% and 1.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WING.L | HYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 1.59% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.86% | 4.63% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.85% | 5.32% | -0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.47% | 17.85% | -10.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.09% | 17.18% | -8.09% |
WING.L vs. HYGB.L - Expense Ratio Comparison
WING.L has a 0.50% expense ratio, which is higher than HYGB.L's 0.40% expense ratio.
Dividends
WING.L vs. HYGB.L - Dividend Comparison
WING.L's dividend yield for the trailing twelve months is around 5.71%, while HYGB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WING.L iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) | 5.71% | 5.67% | 5.86% | 5.20% | 4.43% | 3.92% | 4.25% | 4.56% | 4.98% | 4.44% | 2.11% |
Frequently Asked Questions
WING.L and HYGB.L have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYGB.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYGB.L is cheaper with a 0.40% expense ratio, compared with 0.50% for WING.L.
WING.L tracks iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist), while HYGB.L tracks VanEck Emerging Markets High Yield Bond UCITS ETF. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.50% for WING.L and 0.40% for HYGB.L.
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