HYLD.L vs. STHY.L
HYLD.L (iShares Global 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 - HYLD.L tracks the iShares Global 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 10 years, HYLD.L returned 4.32%/yr vs 5.30%/yr for STHY.L. A 0.64 correlation means they provide meaningful diversification when combined. HYLD.L charges 0.50%/yr vs 0.55%/yr for STHY.L.
Performance
HYLD.L vs. STHY.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYLD.L achieves a 0.82% return, which is significantly lower than STHY.L's 2.08% return. Over the past 10 years, HYLD.L has underperformed STHY.L with an annualized return of 4.32%, while STHY.L has yielded a comparatively higher 5.30% annualized return.
HYLD.L
- 1D
- 0.32%
- 1M
- -0.25%
- 6M
- 0.92%
- YTD
- 0.82%
- 1Y
- 4.53%
- 3Y*
- 7.76%
- 5Y*
- 3.12%
- 10Y*
- 4.32%
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%
HYLD.L vs. STHY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYLD.L iShares Global High Yield Corp Bond UCITS ETF | 0.82% | 14.42% | 2.61% | 13.55% | -11.99% | -0.90% | 8.32% | 11.99% | -4.23% | 9.84% |
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% | 5.45% |
Correlation
The correlation between HYLD.L and STHY.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2012 | 0.64 |
Over the past year, the correlation between HYLD.L and STHY.L has dropped to 0.43 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.
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Return for Risk
HYLD.L vs. STHY.L — Risk / Return Rank
HYLD.L
STHY.L
HYLD.L vs. STHY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corp Bond UCITS ETF (HYLD.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.
| HYLD.L | STHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.37 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | 3.70 | -2.72 |
| Martin ratioReturn relative to average drawdown | 3.26 | 14.49 | -11.23 |
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Drawdowns
HYLD.L vs. STHY.L - Drawdown Comparison
The maximum HYLD.L drawdown since its inception was -23.53%, 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 HYLD.L and STHY.L.
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Drawdown Indicators
| HYLD.L | STHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.53% | -21.74% | -1.79% |
Max Drawdown (1Y)Largest decline over 1 year | -4.21% | -1.75% | -2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -5.36% | -4.67% | -0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -22.52% | -9.55% | -12.97% |
Max Drawdown (10Y)Largest decline over 10 years | -23.53% | -21.74% | -1.79% |
Current DrawdownCurrent decline from peak | -0.82% | 0.00% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -1.42% | -2.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 0.45% | +0.82% |
Volatility
HYLD.L vs. STHY.L - Volatility Comparison
iShares Global High Yield Corp Bond UCITS ETF (HYLD.L) has a higher volatility of 1.35% compared to PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income (STHY.L) at 0.92%. This indicates that HYLD.L's price experiences larger fluctuations and is considered to be riskier than STHY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLD.L | STHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 0.92% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 4.21% | 2.89% | +1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.50% | 3.51% | +1.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.31% | 5.43% | +2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.57% | 6.25% | +2.32% |
HYLD.L vs. STHY.L - Expense Ratio Comparison
HYLD.L has a 0.50% expense ratio, which is lower than STHY.L's 0.55% expense ratio.
Dividends
HYLD.L vs. STHY.L - Dividend Comparison
HYLD.L's dividend yield for the trailing twelve months is around 7.08%, more than STHY.L's 6.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYLD.L iShares Global High Yield Corp Bond UCITS ETF | 7.08% | 5.32% | 5.61% | 4.70% | 4.01% | 3.95% | 4.42% | 4.77% | 4.98% | 4.73% | 5.08% | 5.31% |
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
HYLD.L and STHY.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYLD.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYLD.L is cheaper with a 0.50% expense ratio, compared with 0.55% for STHY.L.
HYLD.L tracks iShares Global 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. Their fees differ too: 0.50% for HYLD.L and 0.55% for STHY.L.
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