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HYSD.L vs. STEA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYSD.L vs. STEA.L

Last updated Jul 16, 2026
Documentation

HYSD.L (iShares Broad $ High Yield Corp 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 - HYSD.L tracks the iShares Broad $ High Yield Corp Bond UCITS ETF 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 3 years, HYSD.L returned 8.23%/yr vs 5.82%/yr for STEA.L. At a 0.48 correlation, their price movements are largely independent.

Performance

HYSD.L vs. STEA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Broad $ High Yield Corp Bond UCITS ETF (HYSD.L) and PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc (STEA.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HYSD.L is traded in GBP, while STEA.L is traded in EUR. To make them comparable, the STEA.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, HYSD.L achieves a 2.22% return, which is significantly higher than STEA.L's -2.06% return.

HYSD.L

1D
0.36%
1M
0.36%
6M
1.62%
YTD
2.22%
1Y
6.13%
3Y*
8.23%
5Y*
—
10Y*
—

STEA.L

1D
0.00%
1M
-1.93%
6M
-1.49%
YTD
-2.06%
1Y
1.94%
3Y*
5.82%
5Y*
2.92%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYSD.L vs. STEA.L - Yearly Performance Comparison

2026 (YTD)2025202420232022
HYSD.L
iShares Broad $ High Yield Corp Bond UCITS ETF		2.22%8.24%7.60%11.75%-3.60%
STEA.L
PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc		-2.06%12.29%1.80%6.97%4.19%

Correlation

The correlation between HYSD.L and STEA.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

Correlation (3Y)
Calculated over the trailing 3-year period

0.44

Correlation (All Time)
Calculated using the full available price history since Aug 3, 2022

0.48

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iShares Broad $ High Yield Corp Bond UCITS ETF

PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc

Return for Risk

HYSD.L vs. STEA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYSD.L
HYSD.L Risk / Return Rank: 6464
Overall Rank
HYSD.L Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
HYSD.L Sortino Ratio Rank: 6262
Sortino Ratio Rank
HYSD.L Omega Ratio Rank: 6565
Omega Ratio Rank
HYSD.L Calmar Ratio Rank: 6363
Calmar Ratio Rank
HYSD.L Martin Ratio Rank: 7575
Martin Ratio Rank
STEA.L
STEA.L Risk / Return Rank: 4545
Overall Rank
STEA.L Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
STEA.L Sortino Ratio Rank: 4242
Sortino Ratio Rank
STEA.L Omega Ratio Rank: 4040
Omega Ratio Rank
STEA.L Calmar Ratio Rank: 4545
Calmar Ratio Rank
STEA.L Martin Ratio Rank: 5656
Martin Ratio Rank
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.

HYSD.L vs. STEA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Broad $ High Yield Corp Bond UCITS ETF (HYSD.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.

HYSD.LSTEA.LDifference
Sharpe ratioReturn per unit of total volatility
1.57
0.36

+1.21

Sortino ratioReturn per unit of downside risk
2.35
0.54

+1.81

Omega ratioGain probability vs. loss probability

1.31

1.06

+0.25

Calmar ratioReturn relative to maximum drawdown

2.53

0.67

+1.85

Martin ratioReturn relative to average drawdown

11.10

1.77

+9.33

HYSD.L vs. STEA.L - Sharpe Ratio Comparison

The current HYSD.L Sharpe Ratio is 1.57, which is higher than the STEA.L Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of HYSD.L and STEA.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.

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Drawdowns

HYSD.L vs. STEA.L - Drawdown Comparison

The maximum HYSD.L drawdown since its inception was -9.53%, smaller than the maximum STEA.L drawdown of -21.02%. Use the drawdown chart below to compare losses from any high point for HYSD.L and STEA.L.

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Drawdown Indicators

HYSD.LSTEA.LDifference

Max Drawdown

Largest peak-to-trough decline

-9.53%

-21.02%

+11.49%

Max Drawdown (1Y)

Largest decline over 1 year

-2.42%

-2.67%

+0.25%

Max Drawdown (3Y)

Largest decline over 3 years

-5.02%

-2.97%

-2.05%

Max Drawdown (5Y)

Largest decline over 5 years

—

-10.92%

—

Current Drawdown

Current decline from peak

0.00%

-2.55%

+2.55%

Average Drawdown

Average peak-to-trough decline

-1.50%

-3.74%

+2.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.55%

1.01%

-0.46%

Volatility

HYSD.L vs. STEA.L - Volatility Comparison

The current volatility for iShares Broad $ High Yield Corp Bond UCITS ETF (HYSD.L) is 0.97%, while PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc (STEA.L) has a volatility of 1.08%. This indicates that HYSD.L experiences smaller price fluctuations and is considered to be less risky 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

HYSD.LSTEA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.97%

1.08%

-0.11%

Volatility (6M)

Calculated over the trailing 6-month period

3.15%

3.75%

-0.60%

Volatility (1Y)

Calculated over the trailing 1-year period

3.89%

5.05%

-1.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.09%

7.04%

-0.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.09%

8.33%

-2.24%

Dividends

HYSD.L vs. STEA.L - Dividend Comparison

HYSD.L's dividend yield for the trailing twelve months is around 11.04%, while STEA.L has not paid dividends to shareholders.

PositionTTM202520242023
HYSD.L
iShares Broad $ High Yield Corp Bond UCITS ETF		11.04%7.39%7.39%5.61%
STEA.L
PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc		0.00%0.00%0.00%0.00%

Frequently Asked Questions

HYSD.L and STEA.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HYSD.L tracks iShares Broad $ High Yield Corp Bond UCITS ETF, 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.

Portfolio Optimizer

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