GFA.L vs. STHS.L

Last updated Jul 16, 2026

GFA.L (VanEck Global Fallen Angel High Yield Bond UCITS ETF) and STHS.L (PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP (Hedged) Inc) are both High Yield Bonds funds - GFA.L tracks the VanEck Global Fallen Angel High Yield Bond UCITS ETF while STHS.L tracks the PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP (Hedged) Inc. Both are passively managed. Over the past 5 years, GFA.L returned 2.71%/yr vs 4.30%/yr for STHS.L. A 0.56 correlation means they provide meaningful diversification when combined.

Performance

GFA.L vs. STHS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFA.L) and PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP (Hedged) Inc (STHS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GFA.L is traded in USD, while STHS.L is traded in GBP. To make them comparable, the STHS.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, GFA.L achieves a 2.23% return, which is significantly higher than STHS.L's 2.09% return.

GFA.L

• 1D: -1.58%
• 1M: -1.67%
• 6M: 2.02%
• YTD: 2.23%
• 1Y: 5.68%
• 3Y*: 7.70%
• 5Y*: 2.71%
• 10Y*: —

STHS.L

• 1D: 0.00%
• 1M: 0.89%
• 6M: 1.88%
• YTD: 2.09%
• 1Y: 6.90%
• 3Y*: 9.21%
• 5Y*: 4.30%
• 10Y*: 4.50%

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

GFA.L vs. STHS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GFA.L VanEck Global Fallen Angel High Yield Bond UCITS ETF	2.23%	9.97%	6.02%	10.29%	-12.56%	1.93%	16.95%	13.34%	-3.62%
STHS.L PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP (Hedged) Inc	2.09%	16.72%	6.47%	16.46%	-15.71%	3.10%	5.01%	12.34%	-10.73%

Correlation

The correlation between GFA.L and STHS.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Mar 19, 2018	0.56

The correlation between GFA.L and STHS.L shifts across timeframes, from 0.38 (1 year) to 0.60 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

GFA.L vs. STHS.L — Risk / Return Rank

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

GFA.L

GFA.L Risk / Return Rank: 29
GFA.L Sharpe Ratio Rank: 28
GFA.L Sortino Ratio Rank: 25
GFA.L Omega Ratio Rank: 29
GFA.L Calmar Ratio Rank: 34
GFA.L Martin Ratio Rank: 32

STHS.L

STHS.L Risk / Return Rank: 80
STHS.L Sharpe Ratio Rank: 72
STHS.L Sortino Ratio Rank: 81
STHS.L Omega Ratio Rank: 78
STHS.L Calmar Ratio Rank: 82
STHS.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.

GFA.L vs. STHS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFA.L) and PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP (Hedged) Inc (STHS.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.

	GFA.L	STHS.L	Difference
Sharpe ratio: Return per unit of total volatility	0.83	0.85	-0.02
Sortino ratio: Return per unit of downside risk	1.16	1.28	-0.12
Omega ratio: Gain probability vs. loss probability	1.17	1.15	+0.02
Calmar ratio: Return relative to maximum drawdown	1.42	1.08	+0.34
Martin ratio: Return relative to average drawdown	3.83	2.74	+1.09

GFA.L vs. STHS.L - Sharpe Ratio Comparison

The current GFA.L Sharpe Ratio is 0.83, which is comparable to the STHS.L Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of GFA.L and STHS.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

GFA.L vs. STHS.L - Drawdown Comparison

The maximum GFA.L drawdown since its inception was -22.98%, smaller than the maximum STHS.L drawdown of -34.30%. Use the drawdown chart below to compare losses from any high point for GFA.L and STHS.L.

Drawdown Indicators

	GFA.L	STHS.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.98%	-34.30%	+11.32%
Max Drawdown (1Y) Largest decline over 1 year	-3.90%	-6.28%	+2.38%
Max Drawdown (3Y) Largest decline over 3 years	-5.14%	-8.43%	+3.29%
Max Drawdown (5Y) Largest decline over 5 years	-22.54%	-29.82%	+7.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.30%	—
Current Drawdown Current decline from peak	-2.07%	-1.25%	-0.82%
Average Drawdown Average peak-to-trough decline	-4.38%	-7.38%	+3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	2.49%	-1.04%

Volatility

GFA.L vs. STHS.L - Volatility Comparison

VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFA.L) has a higher volatility of 2.17% compared to PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP (Hedged) Inc (STHS.L) at 1.99%. This indicates that GFA.L's price experiences larger fluctuations and is considered to be riskier than STHS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GFA.L	STHS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.17%	1.99%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	5.88%	6.09%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	6.68%	8.02%	-1.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.29%	12.10%	-3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.44%	12.40%	-3.96%

Dividends

GFA.L vs. STHS.L - Dividend Comparison

GFA.L has not paid dividends to shareholders, while STHS.L's dividend yield for the trailing twelve months is around 7.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GFA.L VanEck Global Fallen Angel High Yield Bond UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
STHS.L PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP (Hedged) Inc	7.47%	7.11%	7.57%	6.39%	4.95%	4.52%	4.92%	5.08%	5.34%	5.18%	5.43%	0.37%

Frequently Asked Questions

Can I hold both GFA.L and STHS.L in my portfolio?

GFA.L and STHS.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between GFA.L and STHS.L?

GFA.L tracks VanEck Global Fallen Angel High Yield Bond UCITS ETF, while STHS.L tracks PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP (Hedged) Inc. They also come from different issuers: VanEck and PIMCO.