HYLA.L vs. STHE.L
HYLA.L (iShares Global High Yield Corp Bond UCITS ETF) and STHE.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged) are both High Yield Bonds funds - HYLA.L tracks the iShares Global High Yield Corp Bond UCITS ETF while STHE.L tracks the ICE BofA 0-5 Year US High Yield Constrained Index. Both are passively managed. Over the past 5 years, HYLA.L returned 3.15%/yr vs 2.57%/yr for STHE.L. A 0.73 correlation means they provide meaningful diversification when combined. HYLA.L charges 0.50%/yr vs 0.60%/yr for STHE.L.
Performance
HYLA.L vs. STHE.L - Performance Comparison
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Different Trading Currencies
HYLA.L is traded in USD, while STHE.L is traded in EUR. To make them comparable, the STHE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HYLA.L achieves a 0.70% return, which is significantly higher than STHE.L's -1.48% return.
HYLA.L
- 1D
- 0.12%
- 1M
- -0.32%
- 6M
- 0.56%
- YTD
- 0.70%
- 1Y
- 4.54%
- 3Y*
- 7.76%
- 5Y*
- 3.15%
- 10Y*
- —
STHE.L
- 1D
- 0.68%
- 1M
- -1.03%
- 6M
- -1.02%
- YTD
- -1.48%
- 1Y
- 2.96%
- 3Y*
- 7.06%
- 5Y*
- 2.57%
- 10Y*
- 3.53%
HYLA.L vs. STHE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYLA.L iShares Global High Yield Corp Bond UCITS ETF | 0.70% | 14.45% | 2.59% | 13.39% | -11.81% | -0.14% | 7.57% | 11.83% | -3.50% | -0.18% |
STHE.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged | -1.48% | 20.74% | 0.24% | 12.40% | -12.57% | -3.53% | 10.79% | 4.74% | -7.91% | 1.42% |
Correlation
The correlation between HYLA.L and STHE.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | 0.73 |
The correlation between HYLA.L and STHE.L has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.
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Return for Risk
HYLA.L vs. STHE.L — Risk / Return Rank
HYLA.L
STHE.L
HYLA.L vs. STHE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corp Bond UCITS ETF (HYLA.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged (STHE.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.
| HYLA.L | STHE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.07 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 0.45 | +0.43 |
| Martin ratioReturn relative to average drawdown | 2.95 | 1.02 | +1.93 |
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Drawdowns
HYLA.L vs. STHE.L - Drawdown Comparison
The maximum HYLA.L drawdown since its inception was -24.42%, smaller than the maximum STHE.L drawdown of -33.58%. Use the drawdown chart below to compare losses from any high point for HYLA.L and STHE.L.
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Drawdown Indicators
| HYLA.L | STHE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.42% | -33.58% | +9.16% |
Max Drawdown (1Y)Largest decline over 1 year | -4.62% | -6.62% | +2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -5.65% | -8.13% | +2.48% |
Max Drawdown (5Y)Largest decline over 5 years | -22.93% | -27.32% | +4.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.89% | — |
Current DrawdownCurrent decline from peak | -1.04% | -4.36% | +3.32% |
Average DrawdownAverage peak-to-trough decline | -4.11% | -10.45% | +6.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 2.90% | -1.52% |
Volatility
HYLA.L vs. STHE.L - Volatility Comparison
The current volatility for iShares Global High Yield Corp Bond UCITS ETF (HYLA.L) is 1.39%, while PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged (STHE.L) has a volatility of 1.80%. This indicates that HYLA.L experiences smaller price fluctuations and is considered to be less risky than STHE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLA.L | STHE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.80% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 4.67% | 5.65% | -0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.86% | 7.57% | -1.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.19% | 10.62% | -2.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.25% | 10.80% | -1.55% |
HYLA.L vs. STHE.L - Expense Ratio Comparison
HYLA.L has a 0.50% expense ratio, which is lower than STHE.L's 0.60% expense ratio.
Dividends
HYLA.L vs. STHE.L - Dividend Comparison
HYLA.L has not paid dividends to shareholders, while STHE.L's dividend yield for the trailing twelve months is around 6.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYLA.L iShares Global 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% |
STHE.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged | 6.99% | 7.17% | 7.65% | 6.27% | 4.99% | 4.57% | 4.88% | 5.14% | 5.37% | 5.18% | 5.41% | 5.28% |
Frequently Asked Questions
HYLA.L and STHE.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYLA.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYLA.L is cheaper with a 0.50% expense ratio, compared with 0.60% for STHE.L.
HYLA.L tracks iShares Global High Yield Corp Bond UCITS ETF, while STHE.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: 0.50% for HYLA.L and 0.60% for STHE.L.
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