XHYG.L vs. HIGH.L

Last updated Jun 5, 2026

XHYG.L (Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D) and HIGH.L (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc)) are both European High Yield Bonds funds tracking the Bloomberg Pan Euro HY Euro TR EUR, from Xtrackers and iShares respectively. Both are passively managed. Over the past 5 years, XHYG.L returned 2.77%/yr vs 2.71%/yr for HIGH.L. Their correlation of 0.90 suggests significant overlap in exposure. XHYG.L charges 0.20%/yr vs 0.50%/yr for HIGH.L.

Performance

XHYG.L vs. HIGH.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D (XHYG.L) and iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) (HIGH.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XHYG.L achieves a 0.93% return, which is significantly lower than HIGH.L's 1.03% return.

XHYG.L

• 1D: 0.10%
• 1M: 0.47%
• YTD: 0.93%
• 6M: 1.50%
• 1Y: 3.46%
• 3Y*: 6.39%
• 5Y*: 2.77%
• 10Y*: —

HIGH.L

• 1D: 0.13%
• 1M: 0.46%
• YTD: 1.03%
• 6M: 1.27%
• 1Y: 3.36%
• 3Y*: 6.34%
• 5Y*: 2.71%
• 10Y*: —

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

XHYG.L vs. HIGH.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XHYG.L Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D	0.93%	4.77%	6.00%	11.49%	-9.23%	3.13%	1.63%	5.80%	-8.11%	0.23%
HIGH.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc)	1.03%	4.81%	5.78%	11.51%	-9.32%	2.82%	1.10%	9.76%	-3.46%	0.37%

Correlation

The correlation between XHYG.L and HIGH.L is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 26, 2017	0.90

The correlation between XHYG.L and HIGH.L has been stable across timeframes, ranging from 0.80 to 0.90 - a consistent structural relationship.

Return for Risk

XHYG.L vs. HIGH.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XHYG.L

XHYG.L Risk / Return Rank: 29
XHYG.L Sharpe Ratio Rank: 28
XHYG.L Sortino Ratio Rank: 30
XHYG.L Omega Ratio Rank: 30
XHYG.L Calmar Ratio Rank: 25
XHYG.L Martin Ratio Rank: 33

HIGH.L

HIGH.L Risk / Return Rank: 27
HIGH.L Sharpe Ratio Rank: 26
HIGH.L Sortino Ratio Rank: 27
HIGH.L Omega Ratio Rank: 27
HIGH.L Calmar Ratio Rank: 24
HIGH.L Martin Ratio Rank: 32

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.

XHYG.L vs. HIGH.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D (XHYG.L) and iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) (HIGH.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.

	XHYG.L	HIGH.L	Difference
Sharpe ratio: Return per unit of total volatility	1.00	0.92	+0.08
Sortino ratio: Return per unit of downside risk	1.60	1.47	+0.13
Omega ratio: Gain probability vs. loss probability	1.20	1.18	+0.02
Calmar ratio: Return relative to maximum drawdown	1.13	1.11	+0.02
Martin ratio: Return relative to average drawdown	4.86	4.65	+0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XHYG.L vs. HIGH.L - Sharpe Ratio Comparison

The current XHYG.L Sharpe Ratio is 1.00, which is comparable to the HIGH.L Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of XHYG.L and HIGH.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.

Sharpe Ratios by Period

	XHYG.L	HIGH.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	0.92	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.51	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.37	-0.12

Drawdowns

XHYG.L vs. HIGH.L - Drawdown Comparison

The maximum XHYG.L drawdown since its inception was -26.33%, roughly equal to the maximum HIGH.L drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for XHYG.L and HIGH.L.

Drawdown Indicators

	XHYG.L	HIGH.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.33%	-25.42%	-0.91%
Max Drawdown (1Y) Largest decline over 1 year	-2.91%	-2.88%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-3.76%	-3.70%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-14.50%	-14.64%	+0.14%
Current Drawdown Current decline from peak	-0.05%	-0.14%	+0.09%
Average Drawdown Average peak-to-trough decline	-4.00%	-2.72%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	0.69%	-0.01%

Volatility

XHYG.L vs. HIGH.L - Volatility Comparison

The current volatility for Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D (XHYG.L) is 0.84%, while iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) (HIGH.L) has a volatility of 1.09%. This indicates that XHYG.L experiences smaller price fluctuations and is considered to be less risky than HIGH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XHYG.L	HIGH.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.84%	1.09%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	2.87%	2.91%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	3.30%	3.46%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.29%	5.32%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.10%	7.15%	-0.05%

XHYG.L vs. HIGH.L - Expense Ratio Comparison

XHYG.L has a 0.20% expense ratio, which is lower than HIGH.L's 0.50% expense ratio.

Dividends

XHYG.L vs. HIGH.L - Dividend Comparison

XHYG.L's dividend yield for the trailing twelve months is around 4.93%, while HIGH.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
HIGH.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XHYG.L Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D	4.93%	4.75%	5.49%	3.95%	3.70%	5.71%	2.27%

Frequently Asked Questions

Can I hold both XHYG.L and HIGH.L in my portfolio?

XHYG.L and HIGH.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XHYG.L or HIGH.L?

On fees, XHYG.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XHYG.L or HIGH.L?

XHYG.L is cheaper with a 0.20% expense ratio, compared with 0.50% for HIGH.L.

What is the main difference between XHYG.L and HIGH.L?

Both ETFs track Bloomberg Pan Euro HY Euro TR EUR. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.20% for XHYG.L and 0.50% for HIGH.L.