EMLP.L vs. STHE.L
EMLP.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc) and STHE.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged) are both exchange-traded funds - EMLP.L is a Emerging Markets Bonds fund tracking the JPM GBI-EM Global Diversified TR USD, while STHE.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, EMLP.L returned 3.99%/yr vs 4.36%/yr for STHE.L. At a 0.40 correlation, their price movements are largely independent. EMLP.L charges 0.61%/yr vs 0.60%/yr for STHE.L.
Performance
EMLP.L vs. STHE.L - Performance Comparison
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Different Trading Currencies
EMLP.L is traded in GBP, while STHE.L is traded in EUR. To make them comparable, the STHE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
Over the past 10 years, EMLP.L has underperformed STHE.L with an annualized return of 3.99%, while STHE.L has yielded a comparatively higher 4.36% 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%
STHE.L
- 1D
- 0.28%
- 1M
- 0.44%
- YTD
- -0.00%
- 6M
- 0.31%
- 1Y
- 7.84%
- 3Y*
- 6.87%
- 5Y*
- 3.38%
- 10Y*
- 4.36%
EMLP.L vs. STHE.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% |
STHE.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged | -0.00% | 12.13% | 2.00% | 6.78% | -2.17% | -2.63% | 7.54% | 0.75% | -2.45% | 7.98% |
Correlation
The correlation between EMLP.L and STHE.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 | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2013 | 0.40 |
The correlation between EMLP.L and STHE.L shifts across timeframes, from 0.27 (5 years) to 0.41 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMLP.L vs. STHE.L — Risk / Return Rank
EMLP.L
STHE.L
EMLP.L vs. STHE.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 Inc EUR Hedged (STHE.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 | STHE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.29 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.86 | -0.62 |
| Martin ratioReturn relative to average drawdown | 6.49 | 8.88 | -2.39 |
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 | STHE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 1.63 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.48 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.48 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.34 | -0.01 |
Drawdowns
EMLP.L vs. STHE.L - Drawdown Comparison
The maximum EMLP.L drawdown since its inception was -20.02%, smaller than the maximum STHE.L drawdown of -22.78%. Use the drawdown chart below to compare losses from any high point for EMLP.L and STHE.L.
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Drawdown Indicators
| EMLP.L | STHE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.02% | -22.78% | +2.76% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -2.73% | -1.56% |
Max Drawdown (3Y)Largest decline over 3 years | -4.90% | -3.18% | -1.72% |
Max Drawdown (5Y)Largest decline over 5 years | -11.25% | -10.89% | -0.36% |
Max Drawdown (10Y)Largest decline over 10 years | -19.12% | -22.78% | +3.66% |
Current DrawdownCurrent decline from peak | -2.33% | -0.68% | -1.65% |
Average DrawdownAverage peak-to-trough decline | -6.09% | -5.22% | -0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.49% | 0.88% | +0.61% |
Volatility
EMLP.L vs. STHE.L - Volatility Comparison
PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc (EMLP.L) has a higher volatility of 1.50% compared to PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged (STHE.L) at 1.38%. This indicates that EMLP.L's price experiences larger fluctuations and is considered to be riskier than STHE.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 | STHE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | 1.38% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.23% | 3.42% | +0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.40% | 4.81% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.09% | 7.10% | +0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.52% | 9.06% | +0.46% |
EMLP.L vs. STHE.L - Expense Ratio Comparison
EMLP.L has a 0.61% expense ratio, which is higher than STHE.L's 0.60% expense ratio.
Dividends
EMLP.L vs. STHE.L - Dividend Comparison
EMLP.L has not paid dividends to shareholders, while STHE.L's dividend yield for the trailing twelve months is around 7.08%.
| 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% |
STHE.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged | 7.08% | 7.17% | 7.64% | 6.27% | 4.99% | 4.57% | 4.88% | 5.14% | 5.37% | 5.18% | 5.41% | 5.28% |
Frequently Asked Questions
EMLP.L and STHE.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.
On fees, STHE.L is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
STHE.L is cheaper with a 0.60% expense ratio, compared with 0.61% for EMLP.L.
EMLP.L is categorized as Emerging Markets Bonds, while STHE.L is High Yield Bonds. EMLP.L tracks JPM GBI-EM Global Diversified TR USD, while STHE.L tracks ICE BofA 0-5 Year US High Yield Constrained Index. Their fees differ too: 0.61% for EMLP.L and 0.60% for STHE.L.
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