AYE2.DE vs. EUHI.DE
AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) and EUHI.DE (PIMCO Euro Short-Term High Yield Corporate Bond Index UCITS ETF Dist) are both European High Yield Bonds funds - AYE2.DE tracks the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond while EUHI.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 2.83%/yr for EUHI.DE. Their correlation of 0.81 suggests significant overlap in exposure. AYE2.DE charges 0.25%/yr vs 0.50%/yr for EUHI.DE.
Performance
AYE2.DE vs. EUHI.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 EUHI.DE's 1.24% 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*
- —
EUHI.DE
- 1D
- -0.00%
- 1M
- 0.85%
- YTD
- 1.24%
- 6M
- 1.47%
- 1Y
- 3.53%
- 3Y*
- 6.36%
- 5Y*
- 2.83%
- 10Y*
- —
AYE2.DE vs. EUHI.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% |
EUHI.DE PIMCO Euro Short-Term High Yield Corporate Bond Index UCITS ETF Dist | 1.24% | 5.05% | 6.16% | 10.11% | -8.21% | 1.37% |
Correlation
The correlation between AYE2.DE and EUHI.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.81 |
The correlation between AYE2.DE and EUHI.DE has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.
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Return for Risk
AYE2.DE vs. EUHI.DE — Risk / Return Rank
AYE2.DE
EUHI.DE
AYE2.DE vs. EUHI.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 Dist (EUHI.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 | EUHI.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.26 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 1.24 | -0.02 |
| Martin ratioReturn relative to average drawdown | 5.15 | 5.48 | -0.33 |
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 | EUHI.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 1.24 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.62 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.40 | +0.05 |
Drawdowns
AYE2.DE vs. EUHI.DE - Drawdown Comparison
The maximum AYE2.DE drawdown since its inception was -16.48%, smaller than the maximum EUHI.DE drawdown of -21.68%. Use the drawdown chart below to compare losses from any high point for AYE2.DE and EUHI.DE.
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Drawdown Indicators
| AYE2.DE | EUHI.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -21.68% | +5.20% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -2.85% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -3.28% | -0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -12.64% | -3.84% |
Current DrawdownCurrent decline from peak | -0.33% | -0.12% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -2.41% | -1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.64% | +0.09% |
Volatility
AYE2.DE vs. EUHI.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 Dist (EUHI.DE) at 0.67%. This indicates that AYE2.DE's price experiences larger fluctuations and is considered to be riskier than EUHI.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 | EUHI.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.67% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 2.38% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 2.83% | +0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 4.50% | +0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 6.21% | -0.95% |
AYE2.DE vs. EUHI.DE - Expense Ratio Comparison
AYE2.DE has a 0.25% expense ratio, which is lower than EUHI.DE's 0.50% expense ratio.
Dividends
AYE2.DE vs. EUHI.DE - Dividend Comparison
AYE2.DE has not paid dividends to shareholders, while EUHI.DE's dividend yield for the trailing twelve months is around 4.40%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EUHI.DE PIMCO Euro Short-Term High Yield Corporate Bond Index UCITS ETF Dist | 4.40% | 4.47% | 4.75% | 4.15% | 3.10% | 2.54% | 2.61% | 2.59% | 2.03% | 0.17% |
Frequently Asked Questions
AYE2.DE and EUHI.DE have a correlation of 0.78, 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 EUHI.DE.
AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while EUHI.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 EUHI.DE.
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