WING.L vs. HYGU.L
WING.L (iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist)) and HYGU.L (iShares € High Yield Corp Bond UCITS ETF) are both High Yield Bonds funds from iShares - WING.L tracks the iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) while HYGU.L tracks the iShares € High Yield Corp Bond UCITS ETF. Both are passively managed. Over the past 5 years, WING.L returned 2.41%/yr vs 4.58%/yr for HYGU.L. A 0.64 correlation means they provide meaningful diversification when combined. WING.L charges 0.50%/yr vs 0.55%/yr for HYGU.L.
Performance
WING.L vs. HYGU.L - Performance Comparison
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Returns By Period
In the year-to-date period, WING.L achieves a 0.95% return, which is significantly lower than HYGU.L's 2.18% 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%
HYGU.L
- 1D
- -0.03%
- 1M
- 0.24%
- 6M
- 2.18%
- YTD
- 2.18%
- 1Y
- 5.22%
- 3Y*
- 8.18%
- 5Y*
- 4.58%
- 10Y*
- —
WING.L vs. HYGU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 2.08% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 2.18% | 7.24% | 7.29% | 13.55% | -7.14% | 3.72% | 2.16% | 12.83% | -0.86% | 0.71% |
Correlation
The correlation between WING.L and HYGU.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | 0.64 |
The correlation between WING.L and HYGU.L has been stable across timeframes, ranging from 0.58 to 0.68 - a consistent structural relationship.
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Return for Risk
WING.L vs. HYGU.L — Risk / Return Rank
WING.L
HYGU.L
WING.L vs. HYGU.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 iShares € High Yield Corp Bond UCITS ETF (HYGU.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 | HYGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.33 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 2.00 | -0.72 |
| Martin ratioReturn relative to average drawdown | 5.06 | 8.61 | -3.55 |
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Drawdowns
WING.L vs. HYGU.L - Drawdown Comparison
The maximum WING.L drawdown since its inception was -25.18%, roughly equal to the maximum HYGU.L drawdown of -25.03%. Use the drawdown chart below to compare losses from any high point for WING.L and HYGU.L.
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Drawdown Indicators
| WING.L | HYGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.18% | -25.03% | -0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -4.36% | -2.60% | -1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | -3.62% | -1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -21.62% | -13.61% | -8.01% |
Max Drawdown (10Y)Largest decline over 10 years | -25.18% | — | — |
Current DrawdownCurrent decline from peak | -0.50% | -0.16% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -2.06% | -1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 0.61% | +0.50% |
Volatility
WING.L vs. HYGU.L - Volatility Comparison
iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) (WING.L) has a higher volatility of 1.58% compared to iShares € High Yield Corp Bond UCITS ETF (HYGU.L) at 0.62%. This indicates that WING.L's price experiences larger fluctuations and is considered to be riskier than HYGU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WING.L | HYGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 0.62% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 3.86% | 2.85% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.85% | 3.33% | +1.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.47% | 5.37% | +2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.09% | 7.10% | +1.99% |
WING.L vs. HYGU.L - Expense Ratio Comparison
WING.L has a 0.50% expense ratio, which is lower than HYGU.L's 0.55% expense ratio.
Dividends
WING.L vs. HYGU.L - Dividend Comparison
WING.L's dividend yield for the trailing twelve months is around 5.71%, while HYGU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HYGU.L iShares € High Yield Corp 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 HYGU.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WING.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WING.L is cheaper with a 0.50% expense ratio, compared with 0.55% for HYGU.L.
WING.L tracks iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist), while HYGU.L tracks iShares € High Yield Corp Bond UCITS ETF. Their fees differ too: 0.50% for WING.L and 0.55% for HYGU.L.
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