HDEU.L vs. SSHY.L
HDEU.L (PowerShares EURO STOXX High Dividend Low Volatility UCITS) and SSHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist) are both exchange-traded funds - HDEU.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while SSHY.L is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 10 years, HDEU.L returned 9.56%/yr vs 5.25%/yr for SSHY.L. At a 0.14 correlation, their price movements are largely independent. HDEU.L charges 0.30%/yr vs 0.55%/yr for SSHY.L.
Performance
HDEU.L vs. SSHY.L - Performance Comparison
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Different Trading Currencies
HDEU.L is traded in EUR, while SSHY.L is traded in GBP. To make them comparable, the SSHY.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, HDEU.L achieves a 12.39% return, which is significantly higher than SSHY.L's 4.62% return. Over the past 10 years, HDEU.L has outperformed SSHY.L with an annualized return of 9.56%, while SSHY.L has yielded a comparatively lower 5.25% annualized return.
HDEU.L
- 1D
- 0.86%
- 1M
- 0.09%
- YTD
- 12.39%
- 6M
- 13.06%
- 1Y
- 24.84%
- 3Y*
- 22.03%
- 5Y*
- 13.18%
- 10Y*
- 9.56%
SSHY.L
- 1D
- -0.47%
- 1M
- 2.42%
- YTD
- 4.62%
- 6M
- 5.11%
- 1Y
- 8.58%
- 3Y*
- 7.19%
- 5Y*
- 6.14%
- 10Y*
- 5.25%
HDEU.L vs. SSHY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HDEU.L PowerShares EURO STOXX High Dividend Low Volatility UCITS | 12.39% | 35.86% | 10.17% | 13.59% | -8.21% | 21.05% | -17.96% | 17.35% | -8.19% | 10.05% |
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist | 4.62% | -3.89% | 15.49% | 7.73% | 1.07% | 12.58% | -5.12% | 13.45% | 3.76% | -7.73% |
Correlation
The correlation between HDEU.L and SSHY.L is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 6, 2016 | 0.14 |
The correlation between HDEU.L and SSHY.L shifts across timeframes, from -0.08 (3 years) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HDEU.L vs. SSHY.L — Risk / Return Rank
HDEU.L
SSHY.L
HDEU.L vs. SSHY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.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.
| HDEU.L | SSHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.27 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 4.20 | 2.92 | +1.28 |
| Martin ratioReturn relative to average drawdown | 13.46 | 9.05 | +4.41 |
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Drawdowns
HDEU.L vs. SSHY.L - Drawdown Comparison
The maximum HDEU.L drawdown since its inception was -40.22%, roughly equal to the maximum SSHY.L drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for HDEU.L and SSHY.L.
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Drawdown Indicators
| HDEU.L | SSHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.22% | -40.25% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -5.89% | -2.93% | -2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -12.88% | -12.01% | -0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -22.43% | -12.01% | -10.42% |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | -21.26% | -18.96% |
Current DrawdownCurrent decline from peak | -0.54% | -1.44% | +0.90% |
Average DrawdownAverage peak-to-trough decline | -5.77% | -12.59% | +6.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.84% | 0.95% | +0.89% |
Volatility
HDEU.L vs. SSHY.L - Volatility Comparison
PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.L) has a higher volatility of 2.63% compared to PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L) at 1.48%. This indicates that HDEU.L's price experiences larger fluctuations and is considered to be riskier than SSHY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDEU.L | SSHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.63% | 1.48% | +1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 8.04% | 3.89% | +4.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.28% | 5.73% | +4.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.51% | 7.59% | +5.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.66% | 8.51% | +7.15% |
HDEU.L vs. SSHY.L - Expense Ratio Comparison
HDEU.L has a 0.30% expense ratio, which is lower than SSHY.L's 0.55% expense ratio.
Dividends
HDEU.L vs. SSHY.L - Dividend Comparison
HDEU.L's dividend yield for the trailing twelve months is around 3.74%, less than SSHY.L's 6.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDEU.L PowerShares EURO STOXX High Dividend Low Volatility UCITS | 3.74% | 4.71% | 5.78% | 5.56% | 5.60% | 4.21% | 3.04% | 4.50% | 4.38% | 3.44% | 3.59% | 0.00% |
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist | 6.89% | 7.33% | 7.48% | 6.52% | 4.86% | 4.47% | 5.24% | 5.27% | 5.10% | 5.48% | 4.92% | 5.11% |
Frequently Asked Questions
HDEU.L and SSHY.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HDEU.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HDEU.L is cheaper with a 0.30% expense ratio, compared with 0.55% for SSHY.L.
HDEU.L is categorized as Europe Equities, while SSHY.L is High Yield Bonds. HDEU.L tracks MSCI EMU NR EUR, while SSHY.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: Invesco and PIMCO. Their fees differ too: 0.30% for HDEU.L and 0.55% for SSHY.L.
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