HYEA.L vs. STEA.L
HYEA.L (iShares Global High Yield Corporate Bond UCITS ETF) and STEA.L (PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc) are both High Yield Bonds funds - HYEA.L tracks the ICE BofA Gbl HY Constnd TR USD while STEA.L tracks the PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc. Both are passively managed. Over the past 5 years, HYEA.L returned 3.75%/yr vs 3.11%/yr for STEA.L. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
HYEA.L vs. STEA.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYEA.L achieves a 3.05% return, which is significantly higher than STEA.L's 0.53% return.
HYEA.L
- 1D
- 0.00%
- 1M
- 0.90%
- 6M
- 2.38%
- YTD
- 3.05%
- 1Y
- 5.75%
- 3Y*
- 6.96%
- 5Y*
- 3.75%
- 10Y*
- —
STEA.L
- 1D
- -0.15%
- 1M
- -0.21%
- 6M
- 0.45%
- YTD
- 0.53%
- 1Y
- 4.04%
- 3Y*
- 6.23%
- 5Y*
- 3.11%
- 10Y*
- —
HYEA.L vs. STEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYEA.L iShares Global High Yield Corporate Bond UCITS ETF | 3.05% | 1.53% | 9.22% | 9.21% | -6.45% | 8.26% | -1.76% | 14.15% | 0.26% | -0.75% |
STEA.L PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc | 0.53% | 6.59% | 6.65% | 9.15% | -6.91% | 3.43% | 1.48% | 6.80% | -3.39% | 0.00% |
Correlation
The correlation between HYEA.L and STEA.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2017 | 0.51 |
Over the past year, the correlation between HYEA.L and STEA.L has dropped to 0.29 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.
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Return for Risk
HYEA.L vs. STEA.L — Risk / Return Rank
HYEA.L
STEA.L
HYEA.L vs. STEA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corporate Bond UCITS ETF (HYEA.L) and PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc (STEA.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.
| HYEA.L | STEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.22 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.05 | 1.89 | +1.15 |
| Martin ratioReturn relative to average drawdown | 11.25 | 7.74 | +3.51 |
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Drawdowns
HYEA.L vs. STEA.L - Drawdown Comparison
The maximum HYEA.L drawdown since its inception was -22.83%, roughly equal to the maximum STEA.L drawdown of -22.62%. Use the drawdown chart below to compare losses from any high point for HYEA.L and STEA.L.
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Drawdown Indicators
| HYEA.L | STEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.83% | -22.62% | -0.21% |
Max Drawdown (1Y)Largest decline over 1 year | -1.89% | -2.10% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -6.63% | -4.85% | -1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -9.74% | -10.29% | +0.55% |
Current DrawdownCurrent decline from peak | -0.48% | -0.21% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -5.34% | -2.17% | -3.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.52% | -0.01% |
Volatility
HYEA.L vs. STEA.L - Volatility Comparison
iShares Global High Yield Corporate Bond UCITS ETF (HYEA.L) has a higher volatility of 1.40% compared to PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc (STEA.L) at 0.58%. This indicates that HYEA.L's price experiences larger fluctuations and is considered to be riskier than STEA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYEA.L | STEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 0.58% | +0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 2.59% | 2.70% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.53% | 3.36% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.45% | 5.30% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.49% | 6.55% | +1.94% |
Dividends
HYEA.L vs. STEA.L - Dividend Comparison
Neither HYEA.L nor STEA.L has paid dividends to shareholders.
Frequently Asked Questions
HYEA.L and STEA.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYEA.L tracks ICE BofA Gbl HY Constnd TR USD, while STEA.L tracks PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc. They also come from different issuers: iShares and PIMCO.
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