GHYS.L vs. STHS.L
GHYS.L (iShares Global High Yield Corp Bond GBP Hedged UCITS ETF) and STHS.L (PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP Hedged (Dist)) are both High Yield Bonds funds - GHYS.L tracks the Markit iBoxx Global Developed Markets Liquid High Yield Capped Index (GBP Hedged) while STHS.L tracks the ICE BofA 0-5 Year US High Yield Constrained Index. Both are passively managed. Over the past 10 years, GHYS.L returned 3.84%/yr vs 4.27%/yr for STHS.L. A 0.68 correlation means they provide meaningful diversification when combined. GHYS.L charges 0.55%/yr vs 0.60%/yr for STHS.L.
Performance
GHYS.L vs. STHS.L - Performance Comparison
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Returns By Period
In the year-to-date period, GHYS.L achieves a 1.86% return, which is significantly higher than STHS.L's 1.58% return. Over the past 10 years, GHYS.L has underperformed STHS.L with an annualized return of 3.84%, while STHS.L has yielded a comparatively higher 4.27% annualized return.
GHYS.L
- 1D
- -0.20%
- 1M
- 0.46%
- 6M
- 1.48%
- YTD
- 1.86%
- 1Y
- 5.05%
- 3Y*
- 7.68%
- 5Y*
- 3.51%
- 10Y*
- 3.84%
- ALL TIME*
- 4.09%
STHS.L
- 1D
- -0.23%
- 1M
- -0.04%
- 6M
- 1.18%
- YTD
- 1.58%
- 1Y
- 5.67%
- 3Y*
- 7.89%
- 5Y*
- 4.65%
- 10Y*
- 4.27%
- ALL TIME*
- 4.64%
GHYS.L vs. STHS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GHYS.L iShares Global High Yield Corp Bond GBP Hedged UCITS ETF | 1.86% | 7.56% | 6.95% | 11.60% | -9.89% | 3.60% | 2.70% | 11.10% | -3.21% | 4.61% |
STHS.L PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP Hedged (Dist) | 1.58% | 8.53% | 8.27% | 10.62% | -5.62% | 4.05% | 1.89% | 8.01% | -2.38% | 4.36% |
Correlation
The correlation between GHYS.L and STHS.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2015 | 0.68 |
Over the past year, the correlation between GHYS.L and STHS.L has dropped to 0.41 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
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Return for Risk
GHYS.L vs. STHS.L — Risk / Return Rank
GHYS.L
STHS.L
GHYS.L vs. STHS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corp Bond GBP Hedged UCITS ETF (GHYS.L) and PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP Hedged (Dist) (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.
| GHYS.L | STHS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.32 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 3.08 | -1.38 |
| Martin ratioReturn relative to average drawdown | 7.45 | 12.65 | -5.20 |
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Drawdowns
GHYS.L vs. STHS.L - Drawdown Comparison
The maximum GHYS.L drawdown since its inception was -25.16%, which is greater than STHS.L's maximum drawdown of -22.74%. Use the drawdown chart below to compare losses from any high point for GHYS.L and STHS.L.
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Drawdown Indicators
| GHYS.L | STHS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.16% | -22.74% | -2.42% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -1.84% | -1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | -5.34% | +0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -14.71% | -9.53% | -5.18% |
Max Drawdown (10Y)Largest decline over 10 years | -25.16% | -22.74% | -2.42% |
Current DrawdownCurrent decline from peak | -0.50% | -0.26% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -1.66% | -0.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.45% | +0.23% |
Volatility
GHYS.L vs. STHS.L - Volatility Comparison
iShares Global High Yield Corp Bond GBP Hedged UCITS ETF (GHYS.L) has a higher volatility of 0.95% compared to PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP Hedged (Dist) (STHS.L) at 0.87%. This indicates that GHYS.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.
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Volatility by Period
| GHYS.L | STHS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 0.87% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 4.07% | 2.85% | +1.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.64% | 3.49% | +1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 6.32% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.11% | 6.73% | +0.38% |
GHYS.L vs. STHS.L - Expense Ratio Comparison
GHYS.L has a 0.55% expense ratio, which is lower than STHS.L's 0.60% expense ratio.
Dividends
GHYS.L vs. STHS.L - Dividend Comparison
GHYS.L's dividend yield for the trailing twelve months is around 7.26%, more than STHS.L's 6.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYS.L iShares Global High Yield Corp Bond GBP Hedged UCITS ETF | 7.26% | 5.68% | 5.77% | 5.36% | 4.41% | 3.78% | 4.08% | 5.03% | 4.89% | 4.58% | 4.91% | 5.65% |
STHS.L PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF GBP Hedged (Dist) | 6.97% | 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
GHYS.L and STHS.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GHYS.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GHYS.L is cheaper with a 0.55% expense ratio, compared with 0.60% for STHS.L.
GHYS.L tracks Markit iBoxx Global Developed Markets Liquid High Yield Capped Index (GBP Hedged), while STHS.L tracks ICE BofA 0-5 Year US High Yield Constrained Index. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.55% for GHYS.L and 0.60% for STHS.L.
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