EMLB.L vs. STHY.L

Last updated Jul 16, 2026

EMLB.L (PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc)) and STHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income) are both exchange-traded funds - EMLB.L is a Emerging Markets Bonds fund tracking the PIMCO Emerging Markets Advantage Local Currency Bond Index, while STHY.L is a High Yield Bonds fund tracking the ICE BofA 0-5 Year US High Yield Constrained Index. Both are passively managed. Over the past 10 years, EMLB.L returned 3.11%/yr vs 5.30%/yr for STHY.L. At a 0.39 correlation, their price movements are largely independent. EMLB.L charges 0.39%/yr vs 0.55%/yr for STHY.L.

Performance

EMLB.L vs. STHY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income (STHY.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMLB.L achieves a 2.92% return, which is significantly higher than STHY.L's 2.08% return. Over the past 10 years, EMLB.L has underperformed STHY.L with an annualized return of 3.11%, while STHY.L has yielded a comparatively higher 5.30% annualized return.

EMLB.L

• 1D: 0.25%
• 1M: 0.05%
• 6M: 2.30%
• YTD: 2.92%
• 1Y: 8.68%
• 3Y*: 5.90%
• 5Y*: 3.98%
• 10Y*: 3.11%

STHY.L

• 1D: 0.47%
• 1M: 0.27%
• 6M: 1.63%
• YTD: 2.08%
• 1Y: 6.52%
• 3Y*: 8.30%
• 5Y*: 5.19%
• 10Y*: 5.30%

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

EMLB.L vs. STHY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMLB.L PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc)	2.92%	17.08%	-3.25%	13.74%	-5.70%	-5.53%	1.91%	13.10%	-6.90%	12.55%
STHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income	2.08%	8.60%	8.43%	11.65%	-4.82%	4.37%	3.87%	10.09%	-0.64%	5.45%

Correlation

The correlation between EMLB.L and STHY.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Mar 14, 2012	0.39

Return for Risk

EMLB.L vs. STHY.L — Risk / Return Rank

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

EMLB.L

EMLB.L Risk / Return Rank: 40
EMLB.L Sharpe Ratio Rank: 41
EMLB.L Sortino Ratio Rank: 43
EMLB.L Omega Ratio Rank: 43
EMLB.L Calmar Ratio Rank: 36
EMLB.L Martin Ratio Rank: 40

STHY.L

STHY.L Risk / Return Rank: 80
STHY.L Sharpe Ratio Rank: 71
STHY.L Sortino Ratio Rank: 77
STHY.L Omega Ratio Rank: 80
STHY.L Calmar Ratio Rank: 85
STHY.L Martin Ratio Rank: 87

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.

EMLB.L vs. STHY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income (STHY.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EMLB.L	STHY.L	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.85	-0.65
Sortino ratio: Return per unit of downside risk	1.83	2.75	-0.92
Omega ratio: Gain probability vs. loss probability	1.23	1.37	-0.14
Calmar ratio: Return relative to maximum drawdown	1.54	3.70	-2.17
Martin ratio: Return relative to average drawdown	5.03	14.49	-9.46

EMLB.L vs. STHY.L - Sharpe Ratio Comparison

The current EMLB.L Sharpe Ratio is 1.20, which is lower than the STHY.L Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of EMLB.L and STHY.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.

Drawdowns

EMLB.L vs. STHY.L - Drawdown Comparison

The maximum EMLB.L drawdown since its inception was -29.75%, which is greater than STHY.L's maximum drawdown of -21.74%. Use the drawdown chart below to compare losses from any high point for EMLB.L and STHY.L.

Drawdown Indicators

	EMLB.L	STHY.L	Difference
Max Drawdown Largest peak-to-trough decline	-29.75%	-21.74%	-8.01%
Max Drawdown (1Y) Largest decline over 1 year	-5.48%	-1.75%	-3.73%
Max Drawdown (3Y) Largest decline over 3 years	-7.50%	-4.67%	-2.83%
Max Drawdown (5Y) Largest decline over 5 years	-20.09%	-9.55%	-10.54%
Max Drawdown (10Y) Largest decline over 10 years	-21.37%	-21.74%	+0.37%
Current Drawdown Current decline from peak	-1.04%	0.00%	-1.04%
Average Drawdown Average peak-to-trough decline	-9.33%	-1.42%	-7.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	0.45%	+1.23%

Volatility

EMLB.L vs. STHY.L - Volatility Comparison

PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) has a higher volatility of 2.03% compared to PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income (STHY.L) at 0.92%. This indicates that EMLB.L's price experiences larger fluctuations and is considered to be riskier than STHY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMLB.L	STHY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	0.92%	+1.11%
Volatility (6M) Calculated over the trailing 6-month period	6.19%	2.89%	+3.30%
Volatility (1Y) Calculated over the trailing 1-year period	7.00%	3.51%	+3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.48%	5.43%	+4.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.58%	6.25%	+3.33%

EMLB.L vs. STHY.L - Expense Ratio Comparison

EMLB.L has a 0.39% expense ratio, which is lower than STHY.L's 0.55% expense ratio.

Dividends

EMLB.L vs. STHY.L - Dividend Comparison

EMLB.L has not paid dividends to shareholders, while STHY.L's dividend yield for the trailing twelve months is around 6.94%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMLB.L PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
STHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income	6.94%	7.17%	7.60%	6.36%	4.97%	4.58%	4.89%	5.10%	5.32%	5.21%	5.39%	5.29%

Frequently Asked Questions

Can I hold both EMLB.L and STHY.L in my portfolio?

EMLB.L and STHY.L have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EMLB.L or STHY.L?

On fees, EMLB.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMLB.L or STHY.L?

EMLB.L is cheaper with a 0.39% expense ratio, compared with 0.55% for STHY.L.

What is the main difference between EMLB.L and STHY.L?

EMLB.L is categorized as Emerging Markets Bonds, while STHY.L is High Yield Bonds. EMLB.L tracks PIMCO Emerging Markets Advantage Local Currency Bond Index, while STHY.L tracks ICE BofA 0-5 Year US High Yield Constrained Index. Their fees differ too: 0.39% for EMLB.L and 0.55% for STHY.L.