IBC3.DE vs. SSHY.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Core MSCI Emerging Markets IMI UCITS ETF (IBC3.DE) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L).

IBC3.DE and SSHY.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IBC3.DE is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Investable Market (IMI). It was launched on Mar 5, 2018. SSHY.L is a passively managed fund by PIMCO that tracks the performance of the Bloomberg US Corporate High Yield TR USD. It was launched on Mar 14, 2012. Both IBC3.DE and SSHY.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IBC3.DE vs. SSHY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Core MSCI Emerging Markets IMI UCITS ETF (IBC3.DE) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L). The values are adjusted to include any dividend payments, if applicable.

IBC3.DE vs. SSHY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IBC3.DE iShares Core MSCI Emerging Markets IMI UCITS ETF	6.12%	17.59%	14.06%	7.48%	-13.80%	7.38%	7.44%	21.30%	-9.19%
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist	1.31%	-3.89%	15.48%	7.74%	1.06%	12.58%	-5.12%	13.45%	5.90%

Different Trading Currencies

IBC3.DE is traded in EUR, while SSHY.L is traded in GBP. To make them comparable, the SSHY.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IBC3.DE achieves a 6.12% return, which is significantly higher than SSHY.L's 1.31% return.

IBC3.DE

• 1D: 3.50%
• 1M: -5.15%
• YTD: 6.12%
• 6M: 9.50%
• 1Y: 25.27%
• 3Y*: 14.31%
• 5Y*: 5.31%
• 10Y*: —

SSHY.L

• 1D: 0.40%
• 1M: 0.97%
• YTD: 1.31%
• 6M: 2.88%
• 1Y: 0.11%
• 3Y*: 6.32%
• 5Y*: 5.50%
• 10Y*: 5.63%

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

IBC3.DE vs. SSHY.L - Expense Ratio Comparison

IBC3.DE has a 0.18% expense ratio, which is lower than SSHY.L's 0.55% expense ratio.

SSHY.L

PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist

IBC3.DE

iShares Core MSCI Emerging Markets IMI UCITS ETF

Return for Risk

IBC3.DE vs. SSHY.L — Risk / Return Rank

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

IBC3.DE

IBC3.DE Risk / Return Rank: 74
IBC3.DE Sharpe Ratio Rank: 74
IBC3.DE Sortino Ratio Rank: 72
IBC3.DE Omega Ratio Rank: 70
IBC3.DE Calmar Ratio Rank: 80
IBC3.DE Martin Ratio Rank: 74

SSHY.L

SSHY.L Risk / Return Rank: 33
SSHY.L Sharpe Ratio Rank: 31
SSHY.L Sortino Ratio Rank: 28
SSHY.L Omega Ratio Rank: 27
SSHY.L Calmar Ratio Rank: 46
SSHY.L Martin Ratio Rank: 34

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.

IBC3.DE vs. SSHY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets IMI UCITS ETF (IBC3.DE) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.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.

	IBC3.DE	SSHY.L	Difference
Sharpe ratio Return per unit of total volatility	1.39	0.01	+1.38
Sortino ratio Return per unit of downside risk	1.90	0.07	+1.83
Omega ratio Gain probability vs. loss probability	1.27	1.01	+0.26
Calmar ratio Return relative to maximum drawdown	2.44	0.05	+2.39
Martin ratio Return relative to average drawdown	8.50	0.13	+8.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBC3.DE vs. SSHY.L - Sharpe Ratio Comparison

The current IBC3.DE Sharpe Ratio is 1.39, which is higher than the SSHY.L Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of IBC3.DE and SSHY.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IBC3.DE	SSHY.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	0.01	+1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.72	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.59	-0.23

Correlation

The correlation between IBC3.DE and SSHY.L is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IBC3.DE vs. SSHY.L - Dividend Comparison

IBC3.DE's dividend yield for the trailing twelve months is around 2.23%, less than SSHY.L's 7.02% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBC3.DE iShares Core MSCI Emerging Markets IMI UCITS ETF	2.23%	2.26%	2.44%	2.69%	3.36%	2.18%	2.09%	2.56%	2.08%	0.00%	0.00%	0.00%
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist	7.02%	7.33%	7.48%	6.52%	4.86%	4.47%	5.24%	5.27%	5.10%	5.48%	4.92%	5.11%

Drawdowns

IBC3.DE vs. SSHY.L - Drawdown Comparison

The maximum IBC3.DE drawdown since its inception was -31.89%, which is greater than SSHY.L's maximum drawdown of -21.26%. Use the drawdown chart below to compare losses from any high point for IBC3.DE and SSHY.L.

Drawdown Indicators

	IBC3.DE	SSHY.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.89%	-15.94%	-15.95%
Max Drawdown (1Y) Largest decline over 1 year	-13.61%	-4.37%	-9.24%
Max Drawdown (5Y) Largest decline over 5 years	-21.95%	-10.24%	-11.71%
Max Drawdown (10Y) Largest decline over 10 years	—	-15.94%	—
Current Drawdown Current decline from peak	-7.28%	-1.47%	-5.81%
Average Drawdown Average peak-to-trough decline	-7.97%	-4.33%	-3.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	1.41%	+1.64%

Volatility

IBC3.DE vs. SSHY.L - Volatility Comparison

iShares Core MSCI Emerging Markets IMI UCITS ETF (IBC3.DE) has a higher volatility of 7.21% compared to PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L) at 1.52%. This indicates that IBC3.DE's price experiences larger fluctuations and is considered to be riskier than SSHY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBC3.DE	SSHY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.21%	1.52%	+5.69%
Volatility (6M) Calculated over the trailing 6-month period	12.75%	4.11%	+8.64%
Volatility (1Y) Calculated over the trailing 1-year period	18.07%	7.74%	+10.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.75%	7.63%	+8.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.26%	8.58%	+9.68%