JGHY.L vs. STEA.L
JGHY.L (JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc) and STEA.L (PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc) are both High Yield Bonds funds. JGHY.L is actively managed, while STEA.L is passively managed. Over the past 5 years, JGHY.L returned 3.74%/yr vs 2.57%/yr for STEA.L. A 0.68 correlation means they provide meaningful diversification when combined.
Performance
JGHY.L vs. STEA.L - Performance Comparison
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Different Trading Currencies
JGHY.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, JGHY.L achieves a 2.09% return, which is significantly higher than STEA.L's -1.66% return.
JGHY.L
- 1D
- -0.08%
- 1M
- -0.13%
- 6M
- 1.98%
- YTD
- 2.09%
- 1Y
- 7.41%
- 3Y*
- 8.58%
- 5Y*
- 3.74%
- 10Y*
- —
STEA.L
- 1D
- 0.00%
- 1M
- -1.06%
- 6M
- -0.89%
- YTD
- -1.66%
- 1Y
- 3.03%
- 3Y*
- 7.04%
- 5Y*
- 2.57%
- 10Y*
- —
JGHY.L vs. STEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JGHY.L JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc | 2.09% | 11.61% | 6.10% | 11.41% | -10.11% | 1.82% | 6.24% |
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% | 12.47% |
Correlation
The correlation between JGHY.L and STEA.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2020 | 0.68 |
The correlation between JGHY.L and STEA.L has been stable across timeframes, ranging from 0.60 to 0.68 - a consistent structural relationship.
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Return for Risk
JGHY.L vs. STEA.L — Risk / Return Rank
JGHY.L
STEA.L
JGHY.L vs. STEA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc (JGHY.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.
| JGHY.L | STEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.06 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 0.39 | +1.78 |
| Martin ratioReturn relative to average drawdown | 9.24 | 0.90 | +8.34 |
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Drawdowns
JGHY.L vs. STEA.L - Drawdown Comparison
The maximum JGHY.L drawdown since its inception was -20.47%, smaller than the maximum STEA.L drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for JGHY.L and STEA.L.
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Drawdown Indicators
| JGHY.L | STEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.47% | -31.34% | +10.87% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -6.67% | +3.34% |
Max Drawdown (3Y)Largest decline over 3 years | -4.31% | -8.17% | +3.86% |
Max Drawdown (5Y)Largest decline over 5 years | -17.54% | -27.26% | +9.72% |
Current DrawdownCurrent decline from peak | -0.20% | -4.39% | +4.19% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -8.20% | +4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 2.92% | -2.14% |
Volatility
JGHY.L vs. STEA.L - Volatility Comparison
The current volatility for JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc (JGHY.L) is 0.98%, 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 JGHY.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
| JGHY.L | STEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.69% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 3.50% | 5.91% | -2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.21% | 7.79% | -3.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.55% | 10.55% | -4.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.41% | 10.81% | -2.40% |
Dividends
JGHY.L vs. STEA.L - Dividend Comparison
Neither JGHY.L nor STEA.L has paid dividends to shareholders.
Frequently Asked Questions
JGHY.L and STEA.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: JPMorgan and PIMCO.
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