HYGU.L vs. STHY.L

Last updated Jul 16, 2026

HYGU.L (iShares € High Yield Corp Bond UCITS ETF) and STHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income) are both High Yield Bonds funds - HYGU.L tracks the iShares € High Yield Corp Bond UCITS ETF while STHY.L tracks the ICE BofA 0-5 Year US High Yield Constrained Index. Both are passively managed. Over the past 5 years, HYGU.L returned 4.58%/yr vs 5.19%/yr for STHY.L. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.55% expense ratio.

Performance

HYGU.L vs. STHY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares € High Yield Corp Bond UCITS ETF (HYGU.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income (STHY.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with HYGU.L having a 2.18% return and STHY.L slightly lower at 2.08%.

HYGU.L

• 1D: -0.03%
• 1M: 0.24%
• 6M: 2.18%
• YTD: 2.18%
• 1Y: 5.22%
• 3Y*: 8.18%
• 5Y*: 4.58%
• 10Y*: —

STHY.L

• 1D: 0.47%
• 1M: 0.27%
• 6M: 1.63%
• YTD: 2.08%
• 1Y: 6.52%
• 3Y*: 8.30%
• 5Y*: 5.19%
• 10Y*: 5.30%

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

HYGU.L vs. STHY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYGU.L iShares € High Yield Corp Bond UCITS ETF	2.18%	7.24%	7.29%	13.55%	-7.14%	3.72%	2.16%	12.83%	-0.86%	0.71%
STHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income	2.08%	8.60%	8.43%	11.65%	-4.82%	4.37%	3.87%	10.09%	-0.64%	1.67%

Correlation

The correlation between HYGU.L and STHY.L is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017	0.60

The correlation between HYGU.L and STHY.L shifts across timeframes, from 0.51 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HYGU.L vs. STHY.L — Risk / Return Rank

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

HYGU.L

HYGU.L Risk / Return Rank: 61
HYGU.L Sharpe Ratio Rank: 57
HYGU.L Sortino Ratio Rank: 68
HYGU.L Omega Ratio Rank: 68
HYGU.L Calmar Ratio Rank: 48
HYGU.L Martin Ratio Rank: 61

STHY.L

STHY.L Risk / Return Rank: 80
STHY.L Sharpe Ratio Rank: 71
STHY.L Sortino Ratio Rank: 77
STHY.L Omega Ratio Rank: 80
STHY.L Calmar Ratio Rank: 85
STHY.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.

HYGU.L vs. STHY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares € High Yield Corp Bond UCITS ETF (HYGU.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income (STHY.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.

	HYGU.L	STHY.L	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.85	-0.29
Sortino ratio: Return per unit of downside risk	2.50	2.75	-0.25
Omega ratio: Gain probability vs. loss probability	1.33	1.37	-0.05
Calmar ratio: Return relative to maximum drawdown	2.00	3.70	-1.71
Martin ratio: Return relative to average drawdown	8.61	14.49	-5.88

HYGU.L vs. STHY.L - Sharpe Ratio Comparison

The current HYGU.L Sharpe Ratio is 1.56, which is comparable to the STHY.L Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of HYGU.L and STHY.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

HYGU.L vs. STHY.L - Drawdown Comparison

The maximum HYGU.L drawdown since its inception was -25.03%, which is greater than STHY.L's maximum drawdown of -21.74%. Use the drawdown chart below to compare losses from any high point for HYGU.L and STHY.L.

Drawdown Indicators

	HYGU.L	STHY.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.03%	-21.74%	-3.29%
Max Drawdown (1Y) Largest decline over 1 year	-2.60%	-1.75%	-0.85%
Max Drawdown (3Y) Largest decline over 3 years	-3.62%	-4.67%	+1.05%
Max Drawdown (5Y) Largest decline over 5 years	-13.61%	-9.55%	-4.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-21.74%	—
Current Drawdown Current decline from peak	-0.16%	0.00%	-0.16%
Average Drawdown Average peak-to-trough decline	-2.06%	-1.42%	-0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	0.45%	+0.16%

Volatility

HYGU.L vs. STHY.L - Volatility Comparison

The current volatility for iShares € High Yield Corp Bond UCITS ETF (HYGU.L) is 0.62%, while PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income (STHY.L) has a volatility of 0.92%. This indicates that HYGU.L experiences smaller price fluctuations and is considered to be less risky than STHY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYGU.L	STHY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.62%	0.92%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	2.89%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	3.33%	3.51%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.37%	5.43%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.10%	6.25%	+0.85%

HYGU.L vs. STHY.L - Expense Ratio Comparison

Both HYGU.L and STHY.L have an expense ratio of 0.55%.

Dividends

HYGU.L vs. STHY.L - Dividend Comparison

HYGU.L has not paid dividends to shareholders, while STHY.L's dividend yield for the trailing twelve months is around 6.94%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYGU.L iShares € High Yield Corp 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%
STHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income	6.94%	7.17%	7.60%	6.36%	4.97%	4.58%	4.89%	5.10%	5.32%	5.21%	5.39%	5.29%

Frequently Asked Questions

Can I hold both HYGU.L and STHY.L in my portfolio?

HYGU.L and STHY.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYGU.L or STHY.L?

Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYGU.L or STHY.L?

HYGU.L and STHY.L have the same expense ratio: 0.55% per year.

What is the main difference between HYGU.L and STHY.L?

HYGU.L tracks iShares € High Yield Corp Bond UCITS ETF, while STHY.L tracks ICE BofA 0-5 Year US High Yield Constrained Index. They also come from different issuers: iShares and PIMCO.