XUHY.L vs. JHYP.L

Last updated Jun 5, 2026

XUHY.L (Xtrackers USD High Yield Corporate Bond UCITS ETF 1D) and JHYP.L (JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist)) are both High Yield Bonds funds - XUHY.L tracks the Bloomberg US Corporate High Yield TR USD while JHYP.L tracks the ICE BofA Gbl HY Constnd TR HGBP. Both are passively managed. Over the past 5 years, XUHY.L returned 3.95%/yr vs 2.60%/yr for JHYP.L. A 0.54 correlation means they provide meaningful diversification when combined. XUHY.L charges 0.20%/yr vs 0.35%/yr for JHYP.L.

Performance

XUHY.L vs. JHYP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers USD High Yield Corporate Bond UCITS ETF 1D (XUHY.L) and JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XUHY.L is traded in USD, while JHYP.L is traded in GBP. To make them comparable, the JHYP.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XUHY.L achieves a 1.63% return, which is significantly lower than JHYP.L's 1.89% return.

XUHY.L

• 1D: 0.08%
• 1M: 0.28%
• YTD: 1.63%
• 6M: 2.42%
• 1Y: 7.61%
• 3Y*: 8.86%
• 5Y*: 3.95%
• 10Y*: —

JHYP.L

• 1D: 0.18%
• 1M: -0.21%
• YTD: 1.89%
• 6M: 3.64%
• 1Y: 7.39%
• 3Y*: 11.55%
• 5Y*: 2.60%
• 10Y*: —

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

XUHY.L vs. JHYP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XUHY.L Xtrackers USD High Yield Corporate Bond UCITS ETF 1D	1.63%	9.20%	7.08%	13.52%	-11.96%	3.50%	14.44%
JHYP.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist)	1.89%	17.50%	5.90%	15.59%	-19.64%	2.04%	24.52%

Correlation

The correlation between XUHY.L and JHYP.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since May 1, 2020	0.54

The correlation between XUHY.L and JHYP.L shifts across timeframes, from 0.43 (1 year) to 0.55 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

XUHY.L vs. JHYP.L — Risk / Return Rank

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

XUHY.L

XUHY.L Risk / Return Rank: 54
XUHY.L Sharpe Ratio Rank: 49
XUHY.L Sortino Ratio Rank: 50
XUHY.L Omega Ratio Rank: 47
XUHY.L Calmar Ratio Rank: 57
XUHY.L Martin Ratio Rank: 69

JHYP.L

JHYP.L Risk / Return Rank: 69
JHYP.L Sharpe Ratio Rank: 63
JHYP.L Sortino Ratio Rank: 73
JHYP.L Omega Ratio Rank: 63
JHYP.L Calmar Ratio Rank: 69
JHYP.L Martin Ratio Rank: 75

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.

XUHY.L vs. JHYP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers USD High Yield Corporate Bond UCITS ETF 1D (XUHY.L) and JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.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.

	XUHY.L	JHYP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.66	0.86	+0.79
Sortino ratio: Return per unit of downside risk	2.43	1.30	+1.12
Omega ratio: Gain probability vs. loss probability	1.30	1.15	+0.15
Calmar ratio: Return relative to maximum drawdown	2.80	1.11	+1.69
Martin ratio: Return relative to average drawdown	12.55	3.30	+9.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XUHY.L vs. JHYP.L - Sharpe Ratio Comparison

The current XUHY.L Sharpe Ratio is 1.66, which is higher than the JHYP.L Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of XUHY.L and JHYP.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

	XUHY.L	JHYP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	0.86	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.22	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.58	0.00

Drawdowns

XUHY.L vs. JHYP.L - Drawdown Comparison

The maximum XUHY.L drawdown since its inception was -22.78%, smaller than the maximum JHYP.L drawdown of -34.73%. Use the drawdown chart below to compare losses from any high point for XUHY.L and JHYP.L.

Drawdown Indicators

	XUHY.L	JHYP.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.78%	-34.73%	+11.95%
Max Drawdown (1Y) Largest decline over 1 year	-2.57%	-6.61%	+4.04%
Max Drawdown (3Y) Largest decline over 3 years	-4.78%	-10.10%	+5.32%
Max Drawdown (5Y) Largest decline over 5 years	-16.60%	-34.73%	+18.13%
Current Drawdown Current decline from peak	-0.14%	-1.48%	+1.34%
Average Drawdown Average peak-to-trough decline	-2.93%	-8.44%	+5.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	2.23%	-1.65%

Volatility

XUHY.L vs. JHYP.L - Volatility Comparison

The current volatility for Xtrackers USD High Yield Corporate Bond UCITS ETF 1D (XUHY.L) is 1.45%, while JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.L) has a volatility of 2.38%. This indicates that XUHY.L experiences smaller price fluctuations and is considered to be less risky than JHYP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUHY.L	JHYP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.45%	2.38%	-0.93%
Volatility (6M) Calculated over the trailing 6-month period	3.45%	6.02%	-2.57%
Volatility (1Y) Calculated over the trailing 1-year period	4.38%	8.54%	-4.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.57%	11.85%	-4.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.62%	11.73%	-3.11%

XUHY.L vs. JHYP.L - Expense Ratio Comparison

XUHY.L has a 0.20% expense ratio, which is lower than JHYP.L's 0.35% expense ratio.

Dividends

XUHY.L vs. JHYP.L - Dividend Comparison

XUHY.L's dividend yield for the trailing twelve months is around 6.64%, more than JHYP.L's 5.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
JHYP.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist)	5.97%	6.58%	5.96%	8.55%	5.62%	4.37%	0.69%	0.00%
XUHY.L Xtrackers USD High Yield Corporate Bond UCITS ETF 1D	6.64%	6.29%	7.64%	5.89%	6.12%	9.57%	5.49%	4.83%

Frequently Asked Questions

Can I hold both XUHY.L and JHYP.L in my portfolio?

XUHY.L and JHYP.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XUHY.L or JHYP.L?

On fees, XUHY.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, XUHY.L or JHYP.L?

XUHY.L is cheaper with a 0.20% expense ratio, compared with 0.35% for JHYP.L.

What is the main difference between XUHY.L and JHYP.L?

XUHY.L tracks Bloomberg US Corporate High Yield TR USD, while JHYP.L tracks ICE BofA Gbl HY Constnd TR HGBP. They also come from different issuers: Xtrackers and JPMorgan. Their fees differ too: 0.20% for XUHY.L and 0.35% for JHYP.L.