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iShares € High Yield Corp Bond UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE00B66F4759Ticker: IHYG (Borsa Italiana) · EUNW (Xetra) · IHYG (London SE) · IHYG (SIX)Issuer: iShares
Issuer-declared data
Declared index
Markit iBoxx Euro Liquid High Yield Index (EUR)
TER
0.50%
Transaction costs
0.05% (issuer estimate, from the KID)
Management
Passive (index-tracking)
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
5.4 bn EUR
NAV
90.92 EUR (1 September 2026)
Domicile
Ireland
Inception date
3 September 2010
Data as declared by iShares in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

iShares € High Yield Corp Bond UCITS ETF tracks the issuer-declared index: Markit iBoxx Euro Liquid High Yield Index (EUR). The declared annual cost (TER) is 0.50%, plus 0.05% in transaction costs estimated by the issuer in the KID. Replication is optimised physical replication (the KID declares optimisation techniques to achieve a return similar to the index); income is distributed to investors. The fund has assets of about 5.4 billion euro, was launched on 3 September 2010 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

The Share Class is a share class of a Fund which aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the iBoxx Euro Liquid High Yield Index, the Fund’s benchmark index (Index). The Share Class, via the Fund is passively managed and aims to invest so far as possible and practicable in the fixed income (FI) securities (such as bonds) that make up the Index and comply with its credit rating requirements. If the credit ratings of the FI securities change, the Fund may continue to hold them until they cease to form part of the Index and it is practicable to sell them. The Index measures the performance of Euro denominated sub-investment grade bonds. It consists of the largest and most liquid (i.e. can easily be bought and sold on the market in normal market conditions) sub-investment grade corporate bonds issued by both Eurozone and non-Eurozone issuers. Only Euro denominated bonds with a minimum amount outstanding of €250 million are included in the Index. The bonds will, at the time of inclusion in the Index, be sub-investment grade, (i.e. have an average rating below investment grade). The bonds already included in the Index are not subject to a minimum time to maturity (i.e. due date for repayment). However new bonds must have a minimum time to maturity of 2 years and a maximum of 10.5 years. Further details regarding the Index (including the methodology and its constituents) are available on the Index provider’s website at products.markit.com/indices/UCITS/Indices.aspx. The Fund uses optimising techniques to achieve a similar return to the Index. These may include the strategic selection of certain securities that make up the Index or other FI securities which provide similar performance to certain constituent securities. These may also include the use of financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). FDIs may be used for direct investment purposes. The Fund may also engage in short-term secured lending of its investments to certain eligible third parties to generate additional income to off-set the costs of the Fund.

Keep reading the KID section ▾

The price of fixed income securities may be affected by changing interest rates which in turn may affect the value of your investment. Fixed income securities prices move inversely to interest rates. Therefore, the market value of fixed income securities may decrease as interest rates increase. The credit rating of an issuing entity will generally affect the yield that can be earned on fixed income securities; the better the credit rating the smaller the yield.

The depositary of the Fund is The Bank of New York Mellon SA/NV, Dublin Branch. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the iShares plc. These documents are available free of charge in English and certain other languages. These can be found, along with other (practical) information, including prices of units, on the iShares website at: www.ishares.com or by calling +49 89427295800 or from your broker or financial adviser. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the iShares plc. These documents are available free of charge in English and certain other languages. These can be found, along with other (practical) information, including prices of units, on the iShares website at: www.ishares.com or by calling +49 89427295800 or from your broker or financial adviser.

Your shares will be distributing shares (i.e. income will be paid on the shares quarterly). Your shares will be denominated in Euro, the Fund's base currency. The shares are listed and traded on various stock exchanges. In normal circumstances, only authorised participants may buy and sell shares directly with the Fund. Investors who are not authorised participants (e.g. select financial institutions) can generally only buy or sell the shares on the secondary market (e.g. via a broker on a stock exchange) at the then prevailing market price. The value of the shares are related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The prevailing market price at which the shares trade on the secondary market may deviate from the value of the Shares. Indicative net asset value is published on relevant stock exchanges websites.

Intended retail investor:The Fund is intended for retail investors with the ability to bear losses up to the amount invested in the Fund (see “How long should I hold it and can I take my money out early?”).

Insurance benefits:The Fund does not offer any insurance benefits.

From the KID’s “Objectives” section · 2 September 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.50%: above the median of bond ETFs we track (0.15%).
  • Assets larger than 99% of bond ETFs we track.
  • Average tracking difference over the last 3 years: -0.20% p.a., against a declared TER of 0.50%.
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · EUR · from Sept 2010 to Aug 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+96.4%
Annualised
+4.3%
Volatility (ann.)
3.7%
Max drawdown
-21.04%
-7%+20%+48%+75%+102%Sept 2010Aug 2014Aug 2018Aug 2022Aug 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+96%Sept 2010Aug 2026
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-5%-10%-15%-20%-25%-30%201020132016201920222025−21.04% · 23 Mar 2020
Max drawdown
-21.04%
peak → trough
Trough
23 Mar 2020
from the 20 Feb 2020 peak
Recovery time
261 days
recovery only: trough to break-even · ≈ 9 months
Underwater
293 days
decline + recovery: peak to break-even · ≈ 10 months · → recovered on 09 Dec 2020

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
20 Feb 202023 Mar 2020-21.04%09 Dec 2020293
16 Sept 202113 Oct 2022-14.83%11 Jan 2024847
20 May 201105 Oct 2011-11.14%02 Feb 2012258
13 Apr 201512 Feb 2016-6.21%03 Jun 2016417
07 Nov 201704 Jan 2019-4.68%19 Mar 2019497

Calendar-year returns

2016
8.1%
2017
4.8%
2018
-3.5%
2019
9.4%
2020
0.9%
2021
3.0%
2022
-9.7%
2023
11.3%
2024
6.7%
2025
4.8%
2026
1.9%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.40.3-2.41.80.90.6-0.10.51.9
20250.61.0-1.00.11.30.41.10.10.40.10.30.44.8
20240.40.4-0.00.00.90.31.01.00.70.70.40.76.7
20232.7-0.00.20.30.70.50.90.40.2-0.32.82.611.3
2022-1.4-2.7-0.1-2.6-1.1-6.24.5-0.9-3.81.83.4-0.6-9.7
20210.30.60.50.50.20.50.30.3-0.1-0.5-0.50.93.0
20200.1-2.1-13.76.02.91.81.61.4-0.70.34.10.70.9
20192.11.70.91.2-1.41.90.60.6-0.3-0.21.01.09.4
20180.1-0.6-0.10.5-1.2-0.41.40.00.1-1.0-1.9-0.5-3.5
20170.50.7-0.20.90.70.30.70.30.50.8-0.4-0.04.8
2016-0.9-0.53.11.70.0-0.42.01.4-0.40.7-0.61.78.1
20150.71.8-0.10.50.2-1.80.9-0.8-2.62.90.3-2.4-0.6
20140.31.40.50.80.50.4-0.30.6-0.90.10.8-0.53.8
20130.00.60.51.90.1-1.91.70.30.91.90.80.57.5
20125.53.70.8-0.2-1.51.81.62.01.62.01.41.922.6
20111.81.3-0.81.40.7-0.9-0.2-5.4-3.46.8-4.12.1-1.4
20101.6-2.52.33.0
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
Source: iShares. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 1 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.20% /anno
Declared TER
0.50%
YearFundIndexDifference
2025+4.80%+4.76%+0.04%
2024+6.68%+6.88%-0.20%
2023+11.33%+11.79%-0.45%
2022-9.72%-9.41%-0.31%
2021+2.97%+3.18%-0.21%
2020+0.92%+1.65%-0.73%
2019+9.38%+9.56%-0.19%
2018-3.52%-3.37%-0.15%
2017+4.77%+4.81%-0.04%
2016+8.05%+8.14%-0.09%
Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsLast 10 yearsFull history
Volatility (ann.)4.60%4.70%4.80%5.12%5.08%
Max drawdown-5.85%-6.69%-19.01%-24.42%-26.13%
Sharpe-1.24-0.70-1.05-0.54-0.28
Sortino-1.33-0.75-1.15-0.60-0.31
Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.20%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR, the fund's currency; the table follows the currency selected in the chart.

Duration and maturities

Duration · effective duration
2.43years

Price sensitivity to rates: the longer, the more the fund moves. What is duration →

Maturity breakdown (% of fund)
0–1 years
16.12%
1–2 years
13.32%
2–3 years
19.76%
3–5 years
34.03%
5–7 years
14.31%
7–10 years
0.92%
Cash and derivatives
1.55%

Source: product page iShares, data as of 20 August 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Credit rating

How the portfolio is spread by credit quality: from AAA (strongest) downwards. More weight in the top buckets = lower risk that an issuer fails to pay, usually with lower yields.

Rating breakdown (% of fund)
BBB
1.39%
BB
52.93%
B
40.01%
CCC
3.60%
CC
0.49%
C
0.00%
Not rated
0.03%
Cash and derivatives
1.55%

Source: product page iShares, data as of 20 August 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Ratings are those the issuer assigns to portfolio holdings under its own methodology (usually the median of S&P, Moody’s and Fitch); scale and buckets are those of the original document.

Portfolio holdings

Securities in portfolio
655
662 total lines: 7 cash & derivatives
Top-10 weight
4.0%

Top 10 holdings

COREWEAVE INC RegS · CRWV
0.51%
FIBERCOP SPA RegS · FIBCOP
0.45%
VMED O2 UK FINANCING I PLC RegS · VMED
0.44%
UNITED GROUP BV RegS · ADRBID
0.40%
GRIFOLS SA RegS · GRFSM
0.39%
ZF EUROPE FINANCE BV MTN RegS · ZFFNGR
0.38%
BOND US BIDCO 1/2/3/G1/2 RegS · BSCOAT
0.36%
ORGANON & CO RegS · OGN
0.36%
FIBERCOP SPA RegS · FIBCOP
0.35%
OPAL BIDCO SAS RegS · OPALBD
0.34%

Sectors

Consumer Cyclical
23.5%
Communications
15.7%
Consumer Non-Cyclical
13.4%
Capital Goods
9.5%
Basic Industry
8.0%
Technology
6.6%
Transportation
4.8%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustria: 0.8%AzerbaijanBurundiBelgium: 0.8%BeninBurkina FasoBangladeshBulgaria: 0.6%The BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 0.3%Switzerland: 1%ChileChina: 0.1%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech Republic: 1.5%Germany: 11.1%DjiboutiDenmark: 0.4%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 2.3%Estonia: 0.1%EthiopiaFinland: 0.9%FijiFalkland IslandsFrance: 18.8%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreece: 1.4%GreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungary: 0.5%IndonesiaIndiaIreland: 2.1%IranIraqIcelandIsrael: 0.1%Italy: 16.5%JamaicaJordanJapan: 2.2%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuania: 0.2%Luxembourg: 5.3%LatviaMoroccoMoldovaMadagascarMexico: 0.1%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 4%Norway: 0.1%NepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPoland: 0.9%Puerto RicoNorth KoreaPortugal: 0.4%ParaguayQatarRomania: 0.5%RussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSlovenia: 1.2%Sweden: 2.3%SwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 13.6%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth Africa: 0.2%ZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
France18.8%
Italy16.5%
United States13.6%
Germany11.1%
United Kingdom9%
Luxembourg5.3%
Netherlands4%
⬇ Download the full portfolio — Excel, 662 rows
Full portfolio declared by iShares, as of 31 August 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Dividends

Latest dividend
1.16 EUR
ex 18 Jun 2026 · paid 30 Jun 2026
Dividends, last 12 months
5.91 EUR
Dividend yield
6.51%
12-month sum over the NAV as of 2 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year5.91 EUR6.28 %
20255.09 EUR5.44 %
20245.72 EUR6.13 %
20235.10 EUR5.75 %
20223.31 EUR3.25 %
20213.15 EUR3.09 %

Dividend contribution to total return

-20%-10%0%10%20%+2.68 %1 year+4.66 %2025+6.42 %2024+10.93 %2023−9.67 %2022+2.94 %2021
dividendsprice changeprice decline

Calendar per share (EUR)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20262.331.16
20252.672.42
20242.902.82
20232.352.75
20221.531.78
20211.621.53
20202.041.73
20191.802.17
20181.831.85
20171.992.06
20162.232.06
20152.342.38
20142.952.69
20133.703.53
20123.303.59
20112.963.15

Latest dividends

Per shareEx-dividend dateRecord datePayment
1.16 EUR18 Jun 202619 Jun 202630 Jun 2026
2.33 EUR19 Mar 202620 Mar 202631 Mar 2026
2.42 EUR11 Sept 202512 Sept 202524 Sept 2025
2.67 EUR13 Mar 202514 Mar 202526 Mar 2025
2.82 EUR12 Sept 202413 Sept 202425 Sept 2024
2.90 EUR14 Mar 202415 Mar 202427 Mar 2024
2.75 EUR14 Sept 202315 Sept 202327 Sept 2023
2.35 EUR16 Mar 202317 Mar 202329 Mar 2023
Per-share dividends as declared by the issuer, in EUR, since the first payment (23 Feb 2011). Past dividends are not indicative of future ones.

Share classes of the same fund

This page covers ISIN IE00B66F4759. The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
USD Hedged (Dist)IE000GE2BEZ9HISDDistributingUSD
GBP Hedged (Dist)IE000KJVA5F6HIGGDistributingGBP
EUR (Dist) · this pageIE00B66F4759IHYGDistributingEUR
EUR (Acc)IE00BF3N7094HIGHAccumulatingEUR
USD Hedged (Acc)IE00BF3NC260HYGUAccumulatingUSD
Share classes declared by the issuer in official product lists (same fund = same issuer and same declared name). A dash “—” = not declared — not a zero.

Italian taxation

Effective rate on capital gains
25.93%
White-list share
0.52%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE00B66F4759IHYG(class: EUR (Dist))
  • BG Saxozero within the savings plan (buys)
  • Directazero within the savings plan (buys)
  • Directazero on single buys from 2,500 €, agreement until 31 December 2026
  • Moneyfarmzero within the savings plan (buys), agreement until 31 March 2027
  • Moneyfarmzero on single buys from 1,000 €, agreement until 31 March 2027
IE00BF3NC260IQQZ(class: USD Hedged (Acc))
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)IHYG16 Dec 2010
Börse DüsseldorfEUNW10 Nov 2014
Börse FrankfurtEUNW10 Nov 2014
Börse HamburgEUNW10 Nov 2014
Börse HannoverEUNW14 Dec 2022
Börse München / gettexEUNW10 Nov 2014
Börse StuttgartEUNW10 Nov 2014
Tradegate ExchangeEUNW24 May 2016
Xetra (Deutsche Börse)EUNW10 Nov 2014
+ 19 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does iShares € High Yield Corp Bond UCITS ETF track?
The issuer iShares declares the benchmark: Markit iBoxx Euro Liquid High Yield Index (EUR).
How much does IHYG cost?
The issuer-declared TER is 0.50% per year; the transaction costs estimated in the KID are 0.05%.
How is IHYG taxed in Italy?
On sale, the capital gain is taxed at an effective 25.93% rate (white-list share 0.52%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of IHYG?
The fund size declared by iShares is about 5.4 billion euro.
When was IHYG launched?
The fund was launched on 3 September 2010: it has 16 years of history.
How does IHYG replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (optimised) (issuer wording: “Fisica - ottimizzazione (dal KID)”).
Does IHYG pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distributing”).
Where does IHYG trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (IHYG), Börse Düsseldorf (EUNW), Börse Frankfurt (EUNW), Börse Hamburg (EUNW), Börse Hannover (EUNW), Börse München / gettex (EUNW).
What was IHYG's worst fall?
Over the available history (since 2010), the maximum drawdown was -26.13%, reached in March 2020. Past performance is not indicative of future results.
What is IHYG's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.20% per year versus its index (from issuer-declared series).
How many securities does IHYG hold?
The declared portfolio holds 655 securities (plus 7 cash & derivative lines); the top 10 positions weigh 4%.
Transparency note
The data in this sheet is declared by iShares in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.