Fixed income ranking: ETFs with the best performance of 2024 in Europe
10 FEB, 2025
By Jose Luis Palmer from RankiaPro Europe
The year 2024 saw a significant evolution in the landscape of fixed income ETFs, with some surprises in terms of performance. According to the Trackinsight Quarterly Report: Fixed Income ETF Market 2024, the ETFs that dominated the scene in Europe stood out for their ability to adapt to volatile market conditions, offering above-average returns. Let's see which ones they are.
Top 10 fixed income ETFs in Europe with the best returns of the year 2024
| Ranking | Fund | Return 2024 |
|---|---|---|
| 1 | Tabula Haitong Asia ex-Japan High Yield Corp USD Bond ESG UCITS ETF Acc - USD | 25.8% |
| 2 | Tabula Haitong Asia ex-Japan High Yield Corp USD Bond ESG UCITS ETF (USD) - GBP- Hedged Acc - GBP | 23.0% |
| 3 | VanEck Emerging Markets High Yield Bond UCITS ETF - USD | 19.4% |
| 4 | WisdomTree AT1 CoCo Bond UCITS ETF Hedged – USD | 19.1% |
| 5 | iShares China CNY Bond UCITS ETF - USD Hedged - D - USD | 19.0% |
| 6 | JPMorgan ETFs (Ireland) ICAV - BetaBuilders China Aggregate Bond UCITS ETF (Dist) - USD Hedged | 18.7% |
| 7 | Invesco AT1 Capital Bond UCITS ETF Dist - USD | 17.9% |
| 8 | Invesco AT1 Capital Bond UCITS ETF Acc - USD | 17.9% |
| 9 | HSBC Global Funds ICAV - China Government Local Bond UCITS ETF - | 17.8% |
| 10 | SPDR FTSE Global Convertible Bond UCITS ETF Dist - USD Hedged | 17.4% |
At the top of the ranking we find the Tabula Haitong Asia ex-Japan High Yield Corp USD Bond ESG UCITS ETF (TAHY), which recorded a return of 25.8%. Closely followed by the GBP hedged version of the same fund, the TAGH, with a return of 23%, demonstrating investors' interest in high-yield Asian bonds, despite currency uncertainties.
Another protagonist is the VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM), which achieved a solid 19.4% return. The fund capitalized on the growing risk appetite among global investors.
Focus on China and the AT1 Sector
ETFs focused on the Chinese bond market also recorded notable performances. The iShares China CNY Bond UCITS ETF (CYBU) gained 19%, while the JPMorgan BetaBuilders China Aggregate Bond UCITS ETF (JCAU) ended the year with a return of 18.7%.
An interesting trend concerns the AT1 CoCo Bonds, hybrid instruments that offer high returns but with greater structural risks. The Invesco AT1 Capital Bond UCITS ETF (ATID) and the WisdomTree AT1 CoCo Bond UCITS ETF (CODO) recorded respectively 17.9% and 19.1%, signaling strong interest in these instruments from investors seeking yield in a context of falling rates.
