IHYE.L vs. STHE.L
IHYE.L (iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist)) and STHE.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged) are both High Yield Bonds funds - IHYE.L tracks the iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) while STHE.L tracks the ICE BofA 0-5 Year US High Yield Constrained Index. Both are passively managed. Over the past 5 years, IHYE.L returned 1.67%/yr vs 3.15%/yr for STHE.L. Their correlation of 0.83 suggests significant overlap in exposure. IHYE.L charges 0.55%/yr vs 0.60%/yr for STHE.L.
Performance
IHYE.L vs. STHE.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IHYE.L achieves a 1.01% return, which is significantly higher than STHE.L's 0.86% return.
IHYE.L
- 1D
- 0.03%
- 1M
- 0.03%
- 6M
- 0.50%
- YTD
- 1.01%
- 1Y
- 4.16%
- 3Y*
- 5.96%
- 5Y*
- 1.67%
- 10Y*
- —
STHE.L
- 1D
- 0.22%
- 1M
- -0.03%
- 6M
- 0.47%
- YTD
- 0.86%
- 1Y
- 4.13%
- 3Y*
- 6.28%
- 5Y*
- 3.15%
- 10Y*
- 3.13%
IHYE.L vs. STHE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IHYE.L iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) | 1.01% | 6.77% | 5.11% | 8.05% | -11.60% | 2.86% | 3.05% | 9.11% | -3.03% |
STHE.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged | 0.86% | 6.44% | 6.85% | 8.96% | -6.98% | 3.52% | 1.78% | 6.81% | -3.17% |
Correlation
The correlation between IHYE.L and STHE.L is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2018 | 0.83 |
The correlation between IHYE.L and STHE.L shifts across timeframes, from 0.71 (1 year) to 0.83 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IHYE.L vs. STHE.L — Risk / Return Rank
IHYE.L
STHE.L
IHYE.L vs. STHE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IHYE.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.
| IHYE.L | STHE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.26 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.89 | -0.31 |
| Martin ratioReturn relative to average drawdown | 6.44 | 7.86 | -1.42 |
Loading charts...
Drawdowns
IHYE.L vs. STHE.L - Drawdown Comparison
The maximum IHYE.L drawdown since its inception was -22.54%, smaller than the maximum STHE.L drawdown of -24.40%. Use the drawdown chart below to compare losses from any high point for IHYE.L and STHE.L.
Loading charts...
Drawdown Indicators
| IHYE.L | STHE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.54% | -24.40% | +1.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -2.17% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -4.70% | -5.02% | +0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -15.54% | -10.27% | -5.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.40% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.11% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -2.00% | -1.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.52% | +0.16% |
Volatility
IHYE.L vs. STHE.L - Volatility Comparison
iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IHYE.L) has a higher volatility of 0.79% compared to PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged (STHE.L) at 0.66%. This indicates that IHYE.L's price experiences larger fluctuations and is considered to be riskier than STHE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IHYE.L | STHE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 0.66% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 2.31% | +0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.78% | 2.97% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.81% | 5.37% | +1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.12% | 6.69% | +1.43% |
IHYE.L vs. STHE.L - Expense Ratio Comparison
IHYE.L has a 0.55% expense ratio, which is lower than STHE.L's 0.60% expense ratio.
Dividends
IHYE.L vs. STHE.L - Dividend Comparison
IHYE.L's dividend yield for the trailing twelve months is around 6.19%, less than STHE.L's 6.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHYE.L iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) | 6.19% | 6.07% | 6.32% | 5.59% | 5.13% | 4.35% | 4.82% | 5.59% | 3.88% | 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
IHYE.L and STHE.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IHYE.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IHYE.L is cheaper with a 0.55% expense ratio, compared with 0.60% for STHE.L.
IHYE.L tracks iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist), 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: 0.55% for IHYE.L and 0.60% for STHE.L.
Find the right allocation for IHYE.L and STHE.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer