IHYU.L vs. STEA.L
IHYU.L (iShares USD High Yield Corporate 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 - IHYU.L tracks the Markit iBoxx USD Liquid High Yield Capped Index 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 5 years, IHYU.L returned 3.91%/yr vs 2.57%/yr for STEA.L. A 0.56 correlation means they provide meaningful diversification when combined.
Performance
IHYU.L vs. STEA.L - Performance Comparison
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Different Trading Currencies
IHYU.L is traded in USD, while STEA.L is traded in EUR. To make them comparable, the STEA.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IHYU.L achieves a 1.61% return, which is significantly higher than STEA.L's -1.66% return.
IHYU.L
- 1D
- 0.27%
- 1M
- 0.07%
- 6M
- 1.46%
- YTD
- 1.61%
- 1Y
- 6.48%
- 3Y*
- 7.93%
- 5Y*
- 3.91%
- 10Y*
- 4.75%
STEA.L
- 1D
- 0.00%
- 1M
- -1.06%
- 6M
- -0.89%
- YTD
- -1.66%
- 1Y
- 3.03%
- 3Y*
- 7.04%
- 5Y*
- 2.57%
- 10Y*
- —
IHYU.L vs. STEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IHYU.L iShares USD High Yield Corporate Bond UCITS ETF | 1.61% | 9.51% | 6.92% | 10.99% | -9.03% | 3.92% | 4.74% | 12.99% | -1.50% | 0.21% |
STEA.L PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc | -1.66% | 20.91% | 0.06% | 12.59% | -12.51% | -3.61% | 10.46% | 4.72% | -7.90% | 2.01% |
Correlation
The correlation between IHYU.L and STEA.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2017 | 0.57 |
The correlation between IHYU.L and STEA.L shifts across timeframes, from 0.48 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IHYU.L vs. STEA.L — Risk / Return Rank
IHYU.L
STEA.L
IHYU.L vs. STEA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD High Yield Corporate Bond UCITS ETF (IHYU.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.
| IHYU.L | STEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.42 | ||
| Sortino ratioReturn per unit of downside risk | +2.15 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.06 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 0.39 | +1.90 |
| Martin ratioReturn relative to average drawdown | 10.98 | 0.90 | +10.08 |
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Drawdowns
IHYU.L vs. STEA.L - Drawdown Comparison
The maximum IHYU.L drawdown since its inception was -21.83%, smaller than the maximum STEA.L drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for IHYU.L and STEA.L.
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Drawdown Indicators
| IHYU.L | STEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.83% | -31.34% | +9.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -6.67% | +3.86% |
Max Drawdown (3Y)Largest decline over 3 years | -4.02% | -8.17% | +4.15% |
Max Drawdown (5Y)Largest decline over 5 years | -13.74% | -27.26% | +13.52% |
Max Drawdown (10Y)Largest decline over 10 years | -21.83% | — | — |
Current DrawdownCurrent decline from peak | -0.06% | -4.39% | +4.33% |
Average DrawdownAverage peak-to-trough decline | -2.10% | -8.20% | +6.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 2.92% | -2.33% |
Volatility
IHYU.L vs. STEA.L - Volatility Comparison
The current volatility for iShares USD High Yield Corporate Bond UCITS ETF (IHYU.L) is 0.53%, while PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc (STEA.L) has a volatility of 1.69%. This indicates that IHYU.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
| IHYU.L | STEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 1.69% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 5.91% | -2.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 7.79% | -4.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.65% | 10.55% | -3.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.69% | 10.81% | -3.12% |
Dividends
IHYU.L vs. STEA.L - Dividend Comparison
IHYU.L's dividend yield for the trailing twelve months is around 6.20%, while STEA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHYU.L iShares USD High Yield Corporate Bond UCITS ETF | 6.20% | 6.14% | 6.39% | 5.62% | 4.81% | 4.35% | 4.79% | 5.42% | 5.68% | 5.54% | 5.61% | 6.06% |
STEA.L PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IHYU.L and STEA.L have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHYU.L tracks Markit iBoxx USD Liquid High Yield Capped Index, 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.
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