EMLP.L vs. SSHY.L
EMLP.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc) and SSHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist) are both exchange-traded funds - EMLP.L is a Emerging Markets Bonds fund tracking the JPM GBI-EM Global Diversified TR USD, while SSHY.L is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 10 years, EMLP.L returned 3.99%/yr vs 6.28%/yr for SSHY.L. A 0.61 correlation means they provide meaningful diversification when combined. EMLP.L charges 0.61%/yr vs 0.55%/yr for SSHY.L.
Performance
EMLP.L vs. SSHY.L - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with EMLP.L at 1.51% and SSHY.L at 1.51%. Over the past 10 years, EMLP.L has underperformed SSHY.L with an annualized return of 3.99%, while SSHY.L has yielded a comparatively higher 6.28% annualized return.
EMLP.L
- 1D
- -0.16%
- 1M
- 0.73%
- YTD
- 1.51%
- 6M
- 1.14%
- 1Y
- 9.68%
- 3Y*
- 3.69%
- 5Y*
- 4.40%
- 10Y*
- 3.99%
SSHY.L
- 1D
- 0.17%
- 1M
- 1.33%
- YTD
- 1.51%
- 6M
- 1.49%
- 1Y
- 8.19%
- 3Y*
- 5.91%
- 5Y*
- 6.31%
- 10Y*
- 6.28%
EMLP.L vs. SSHY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMLP.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc | 1.51% | 9.10% | -1.68% | 7.52% | 5.55% | -4.33% | -1.55% | 9.55% | -1.46% | 2.43% |
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist | 1.51% | 1.40% | 10.17% | 5.51% | 6.56% | 5.70% | 0.33% | 6.66% | 5.07% | -3.96% |
Correlation
The correlation between EMLP.L and SSHY.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2013 | 0.61 |
The correlation between EMLP.L and SSHY.L has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.
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Return for Risk
EMLP.L vs. SSHY.L — Risk / Return Rank
EMLP.L
SSHY.L
EMLP.L vs. SSHY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc (EMLP.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.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.
| EMLP.L | SSHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.26 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.25 | 0.00 |
| Martin ratioReturn relative to average drawdown | 6.49 | 6.90 | -0.42 |
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
| EMLP.L | SSHY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 1.44 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.83 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.69 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.60 | -0.27 |
Drawdowns
EMLP.L vs. SSHY.L - Drawdown Comparison
The maximum EMLP.L drawdown since its inception was -20.02%, which is greater than SSHY.L's maximum drawdown of -15.94%. Use the drawdown chart below to compare losses from any high point for EMLP.L and SSHY.L.
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Drawdown Indicators
| EMLP.L | SSHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.02% | -15.94% | -4.08% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -3.63% | -0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -4.90% | -9.91% | +5.01% |
Max Drawdown (5Y)Largest decline over 5 years | -11.25% | -10.24% | -1.01% |
Max Drawdown (10Y)Largest decline over 10 years | -19.12% | -15.94% | -3.18% |
Current DrawdownCurrent decline from peak | -2.33% | -0.89% | -1.44% |
Average DrawdownAverage peak-to-trough decline | -6.09% | -4.30% | -1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.49% | 1.18% | +0.31% |
Volatility
EMLP.L vs. SSHY.L - Volatility Comparison
The current volatility for PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc (EMLP.L) is 1.50%, while PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L) has a volatility of 1.59%. This indicates that EMLP.L experiences smaller price fluctuations and is considered to be less risky than SSHY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLP.L | SSHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | 1.59% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.23% | 4.03% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.40% | 5.67% | -0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.09% | 7.58% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.52% | 9.16% | +0.36% |
EMLP.L vs. SSHY.L - Expense Ratio Comparison
EMLP.L has a 0.61% expense ratio, which is higher than SSHY.L's 0.55% expense ratio.
Dividends
EMLP.L vs. SSHY.L - Dividend Comparison
EMLP.L has not paid dividends to shareholders, while SSHY.L's dividend yield for the trailing twelve months is around 7.07%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLP.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF 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% |
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist | 7.07% | 7.33% | 7.48% | 6.52% | 4.86% | 4.47% | 5.24% | 5.27% | 5.10% | 5.48% | 4.92% | 5.11% |
Frequently Asked Questions
EMLP.L and SSHY.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SSHY.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SSHY.L is cheaper with a 0.55% expense ratio, compared with 0.61% for EMLP.L.
EMLP.L is categorized as Emerging Markets Bonds, while SSHY.L is High Yield Bonds. EMLP.L tracks JPM GBI-EM Global Diversified TR USD, while SSHY.L tracks Bloomberg US Corporate High Yield TR USD. Their fees differ too: 0.61% for EMLP.L and 0.55% for SSHY.L.
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