FAHY.L vs. STHE.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged (STHE.L).

FAHY.L and STHE.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FAHY.L is a passively managed fund by Invesco that tracks the performance of the Bloomberg US Corporate High Yield TR USD. It was launched on Sep 1, 2016. STHE.L is a passively managed fund by PIMCO that tracks the performance of the ICE BofA 0-5 Year US High Yield Constrained Index. It was launched on Dec 11, 2017. Both FAHY.L and STHE.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FAHY.L vs. STHE.L - Performance Comparison

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

FAHY.L vs. STHE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAHY.L Invesco US High Yield Fallen Angels UCITS ETF Dist	-1.05%	2.08%	6.93%	4.14%	-3.51%	6.81%	5.36%	9.22%	0.08%	-0.79%
STHE.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged	-0.32%	12.13%	2.00%	6.78%	-2.17%	-2.63%	7.54%	0.75%	-2.45%	7.98%

Different Trading Currencies

FAHY.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

In the year-to-date period, FAHY.L achieves a -1.05% return, which is significantly lower than STHE.L's -0.28% return.

FAHY.L

• 1D: -0.16%
• 1M: -1.90%
• YTD: -1.05%
• 6M: 0.10%
• 1Y: 2.12%
• 3Y*: 4.27%
• 5Y*: 3.14%
• 10Y*: —

STHE.L

• 1D: 0.71%
• 1M: 0.08%
• YTD: -0.28%
• 6M: 0.90%
• 1Y: 10.13%
• 3Y*: 6.30%
• 5Y*: 3.73%
• 10Y*: 4.59%

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

FAHY.L vs. STHE.L - Expense Ratio Comparison

FAHY.L has a 0.45% expense ratio, which is lower than STHE.L's 0.60% expense ratio.

STHE.L

PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged

FAHY.L

Invesco US High Yield Fallen Angels UCITS ETF Dist

Return for Risk

FAHY.L vs. STHE.L — Risk / Return Rank

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

FAHY.L

FAHY.L Risk / Return Rank: 19
FAHY.L Sharpe Ratio Rank: 19
FAHY.L Sortino Ratio Rank: 17
FAHY.L Omega Ratio Rank: 16
FAHY.L Calmar Ratio Rank: 24
FAHY.L Martin Ratio Rank: 21

STHE.L

STHE.L Risk / Return Rank: 64
STHE.L Sharpe Ratio Rank: 60
STHE.L Sortino Ratio Rank: 62
STHE.L Omega Ratio Rank: 66
STHE.L Calmar Ratio Rank: 59
STHE.L Martin Ratio Rank: 72

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.

FAHY.L vs. STHE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.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.

	FAHY.L	STHE.L	Difference
Sharpe ratio Return per unit of total volatility	0.29	1.62	-1.33
Sortino ratio Return per unit of downside risk	0.44	2.51	-2.07
Omega ratio Gain probability vs. loss probability	1.06	1.33	-0.27
Calmar ratio Return relative to maximum drawdown	0.59	3.72	-3.14
Martin ratio Return relative to average drawdown	1.49	12.50	-11.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAHY.L vs. STHE.L - Sharpe Ratio Comparison

The current FAHY.L Sharpe Ratio is 0.29, which is lower than the STHE.L Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of FAHY.L and STHE.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FAHY.L	STHE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.29	1.62	-1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.52	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.34	+0.08

Correlation

The correlation between FAHY.L and STHE.L is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FAHY.L vs. STHE.L - Dividend Comparison

FAHY.L's dividend yield for the trailing twelve months is around 6.67%, less than STHE.L's 7.07% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAHY.L Invesco US High Yield Fallen Angels UCITS ETF Dist	6.67%	6.61%	6.89%	6.85%	5.66%	4.54%	6.26%	6.22%	6.01%	5.63%	1.23%	0.00%
STHE.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged	7.07%	7.17%	7.64%	6.27%	4.99%	4.57%	4.88%	5.14%	5.37%	5.18%	5.41%	5.28%

Drawdowns

FAHY.L vs. STHE.L - Drawdown Comparison

The maximum FAHY.L drawdown since its inception was -23.91%, roughly equal to the maximum STHE.L drawdown of -22.78%. Use the drawdown chart below to compare losses from any high point for FAHY.L and STHE.L.

Drawdown Indicators

	FAHY.L	STHE.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.91%	-24.40%	+0.49%
Max Drawdown (1Y) Largest decline over 1 year	-5.78%	-3.82%	-1.96%
Max Drawdown (5Y) Largest decline over 5 years	-11.66%	-10.27%	-1.39%
Max Drawdown (10Y) Largest decline over 10 years	—	-24.40%	—
Current Drawdown Current decline from peak	-2.82%	-1.16%	-1.66%
Average Drawdown Average peak-to-trough decline	-4.19%	-2.04%	-2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	0.59%	+0.98%

Volatility

FAHY.L vs. STHE.L - Volatility Comparison

Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.L) has a higher volatility of 1.89% compared to PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged (STHE.L) at 1.80%. This indicates that FAHY.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.

Volatility by Period

	FAHY.L	STHE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.89%	1.80%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	4.28%	3.53%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	7.16%	6.22%	+0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.31%	7.16%	+1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.03%	9.15%	+0.88%