FAGB.L vs. STYC.L

Last updated Jul 18, 2026

FAGB.L (Invesco US High Yield Fallen Angels UCITS ETF GBP Hedged (Acc)) and STYC.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc) are both High Yield Bonds funds - FAGB.L tracks the FTSE Time-Weighted US Fallen Angel Bond Select Index while STYC.L tracks the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 5 years, FAGB.L returned 1.50%/yr vs 5.66%/yr for STYC.L. At a 0.20 correlation, their price movements are largely independent. FAGB.L charges 0.50%/yr vs 0.55%/yr for STYC.L.

Performance

FAGB.L vs. STYC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US High Yield Fallen Angels UCITS ETF GBP Hedged (Acc) (FAGB.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc (STYC.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FAGB.L is traded in GBp, while STYC.L is traded in USD. To make them comparable, the STYC.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, FAGB.L achieves a 1.09% return, which is significantly lower than STYC.L's 2.05% return.

FAGB.L

• 1D: -0.15%
• 1M: 0.11%
• 6M: 0.46%
• YTD: 1.09%
• 1Y: 5.50%
• 3Y*: 6.70%
• 5Y*: 1.50%
• 10Y*: —

STYC.L

• 1D: 0.24%
• 1M: -0.97%
• 6M: 0.86%
• YTD: 2.05%
• 1Y: 5.89%
• 3Y*: 7.14%
• 5Y*: 5.66%
• 10Y*: 5.01%

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

FAGB.L vs. STYC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAGB.L Invesco US High Yield Fallen Angels UCITS ETF GBP Hedged (Acc)	1.09%	9.31%	4.50%	9.02%	-15.12%	5.18%	6.43%	10.50%	-7.23%	0.20%
STYC.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc	2.05%	1.35%	9.97%	6.08%	6.48%	5.36%	0.79%	5.84%	5.42%	-1.98%

Correlation

The correlation between FAGB.L and STYC.L is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (All Time) Calculated using the full available price history since Oct 17, 2017	0.20

The correlation between FAGB.L and STYC.L shifts across timeframes, from 0.10 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FAGB.L vs. STYC.L — Risk / Return Rank

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

FAGB.L

FAGB.L Risk / Return Rank: 41
FAGB.L Sharpe Ratio Rank: 45
FAGB.L Sortino Ratio Rank: 48
FAGB.L Omega Ratio Rank: 46
FAGB.L Calmar Ratio Rank: 31
FAGB.L Martin Ratio Rank: 37

STYC.L

STYC.L Risk / Return Rank: 81
STYC.L Sharpe Ratio Rank: 73
STYC.L Sortino Ratio Rank: 79
STYC.L Omega Ratio Rank: 77
STYC.L Calmar Ratio Rank: 85
STYC.L Martin Ratio Rank: 88

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.

FAGB.L vs. STYC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US High Yield Fallen Angels UCITS ETF GBP Hedged (Acc) (FAGB.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc (STYC.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.

	FAGB.L	STYC.L	Difference
Sharpe ratio: Return per unit of total volatility	1.20	0.88	+0.32
Sortino ratio: Return per unit of downside risk	1.84	1.26	+0.58
Omega ratio: Gain probability vs. loss probability	1.23	1.15	+0.07
Calmar ratio: Return relative to maximum drawdown	1.17	1.47	-0.30
Martin ratio: Return relative to average drawdown	4.35	4.42	-0.08

FAGB.L vs. STYC.L - Sharpe Ratio Comparison

The current FAGB.L Sharpe Ratio is 1.20, which is higher than the STYC.L Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of FAGB.L and STYC.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

FAGB.L vs. STYC.L - Drawdown Comparison

The maximum FAGB.L drawdown since its inception was -30.30%, which is greater than STYC.L's maximum drawdown of -15.73%. Use the drawdown chart below to compare losses from any high point for FAGB.L and STYC.L.

Drawdown Indicators

	FAGB.L	STYC.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.30%	-15.73%	-14.57%
Max Drawdown (1Y) Largest decline over 1 year	-4.75%	-3.99%	-0.76%
Max Drawdown (3Y) Largest decline over 3 years	-5.31%	-9.54%	+4.23%
Max Drawdown (5Y) Largest decline over 5 years	-18.92%	-11.00%	-7.92%
Max Drawdown (10Y) Largest decline over 10 years	—	-15.73%	—
Current Drawdown Current decline from peak	-0.62%	-1.85%	+1.23%
Average Drawdown Average peak-to-trough decline	-5.39%	-4.00%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.29%	1.33%	-0.04%

Volatility

FAGB.L vs. STYC.L - Volatility Comparison

The current volatility for Invesco US High Yield Fallen Angels UCITS ETF GBP Hedged (Acc) (FAGB.L) is 1.19%, while PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc (STYC.L) has a volatility of 1.84%. This indicates that FAGB.L experiences smaller price fluctuations and is considered to be less risky than STYC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAGB.L	STYC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	1.84%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	3.84%	5.31%	-1.47%
Volatility (1Y) Calculated over the trailing 1-year period	4.65%	6.65%	-2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.13%	8.35%	-1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.53%	9.35%	-0.82%

FAGB.L vs. STYC.L - Expense Ratio Comparison

FAGB.L has a 0.50% expense ratio, which is lower than STYC.L's 0.55% expense ratio.

Dividends

FAGB.L vs. STYC.L - Dividend Comparison

Neither FAGB.L nor STYC.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
FAGB.L Invesco US High Yield Fallen Angels UCITS ETF GBP Hedged (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%
STYC.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FAGB.L and STYC.L in my portfolio?

FAGB.L and STYC.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FAGB.L or STYC.L?

On fees, FAGB.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FAGB.L or STYC.L?

FAGB.L is cheaper with a 0.50% expense ratio, compared with 0.55% for STYC.L.

What is the main difference between FAGB.L and STYC.L?

FAGB.L tracks FTSE Time-Weighted US Fallen Angel Bond Select Index, while STYC.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: Invesco and PIMCO. Their fees differ too: 0.50% for FAGB.L and 0.55% for STYC.L.