AYE2.DE vs. EUHA.DE
AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) and EUHA.DE (PIMCO Euro Short-Term High Yield Corporate Bond Index UCITS ETF Acc) are both European High Yield Bonds funds - AYE2.DE tracks the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond while EUHA.DE tracks the BofA Merrill Lynch 0-5 Year Euro Developed Markets High Yield 2% Constrained. Both are passively managed. Over the past 5 years, AYE2.DE returned 2.45%/yr vs 2.85%/yr for EUHA.DE. A 0.75 correlation means they provide meaningful diversification when combined. AYE2.DE charges 0.25%/yr vs 0.50%/yr for EUHA.DE.
Performance
AYE2.DE vs. EUHA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AYE2.DE achieves a 0.71% return, which is significantly lower than EUHA.DE's 1.21% return.
AYE2.DE
- 1D
- -0.10%
- 1M
- 0.88%
- YTD
- 0.71%
- 6M
- 1.00%
- 1Y
- 3.78%
- 3Y*
- 6.88%
- 5Y*
- 2.45%
- 10Y*
- —
EUHA.DE
- 1D
- 0.10%
- 1M
- 1.11%
- YTD
- 1.21%
- 6M
- 1.65%
- 1Y
- 3.44%
- 3Y*
- 6.41%
- 5Y*
- 2.85%
- 10Y*
- —
AYE2.DE vs. EUHA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.71% | 5.88% | 6.36% | 10.77% | -10.72% | 0.80% |
EUHA.DE PIMCO Euro Short-Term High Yield Corporate Bond Index UCITS ETF Acc | 1.21% | 5.16% | 6.18% | 10.06% | -8.20% | 1.41% |
Correlation
The correlation between AYE2.DE and EUHA.DE is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.75 |
The correlation between AYE2.DE and EUHA.DE shifts across timeframes, from 0.64 (3 years) to 0.75 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
AYE2.DE vs. EUHA.DE — Risk / Return Rank
AYE2.DE
EUHA.DE
AYE2.DE vs. EUHA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) and PIMCO Euro Short-Term High Yield Corporate Bond Index UCITS ETF Acc (EUHA.DE). 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.
| AYE2.DE | EUHA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.22 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 1.13 | +0.08 |
| Martin ratioReturn relative to average drawdown | 5.15 | 5.03 | +0.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AYE2.DE | EUHA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 1.11 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.57 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.33 | +0.12 |
Drawdowns
AYE2.DE vs. EUHA.DE - Drawdown Comparison
The maximum AYE2.DE drawdown since its inception was -16.48%, smaller than the maximum EUHA.DE drawdown of -23.36%. Use the drawdown chart below to compare losses from any high point for AYE2.DE and EUHA.DE.
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Drawdown Indicators
| AYE2.DE | EUHA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -23.36% | +6.88% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -3.03% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -3.50% | -0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -12.43% | -4.05% |
Current DrawdownCurrent decline from peak | -0.33% | -0.15% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -2.43% | -1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.68% | +0.05% |
Volatility
AYE2.DE vs. EUHA.DE - Volatility Comparison
iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) has a higher volatility of 0.98% compared to PIMCO Euro Short-Term High Yield Corporate Bond Index UCITS ETF Acc (EUHA.DE) at 0.78%. This indicates that AYE2.DE's price experiences larger fluctuations and is considered to be riskier than EUHA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AYE2.DE | EUHA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.78% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 2.64% | +0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 3.10% | +0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 4.93% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 7.54% | -2.28% |
AYE2.DE vs. EUHA.DE - Expense Ratio Comparison
AYE2.DE has a 0.25% expense ratio, which is lower than EUHA.DE's 0.50% expense ratio.
Dividends
AYE2.DE vs. EUHA.DE - Dividend Comparison
Neither AYE2.DE nor EUHA.DE has paid dividends to shareholders.
Frequently Asked Questions
AYE2.DE and EUHA.DE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AYE2.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AYE2.DE is cheaper with a 0.25% expense ratio, compared with 0.50% for EUHA.DE.
AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while EUHA.DE tracks BofA Merrill Lynch 0-5 Year Euro Developed Markets High Yield 2% Constrained. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.25% for AYE2.DE and 0.50% for EUHA.DE.
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