JHYP.L vs. SSHY.L
JHYP.L (JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist)) and SSHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist) are both High Yield Bonds funds - JHYP.L tracks the ICE BofA Gbl HY Constnd TR HGBP while SSHY.L tracks the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 5 years, JHYP.L returned 3.69%/yr vs 6.31%/yr for SSHY.L. At a 0.06 correlation, their price movements are largely independent. JHYP.L charges 0.35%/yr vs 0.55%/yr for SSHY.L.
Performance
JHYP.L vs. SSHY.L - Performance Comparison
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Returns By Period
In the year-to-date period, JHYP.L achieves a 2.14% return, which is significantly higher than SSHY.L's 1.51% return.
JHYP.L
- 1D
- 0.13%
- 1M
- 0.65%
- YTD
- 2.14%
- 6M
- 2.89%
- 1Y
- 8.43%
- 3Y*
- 8.74%
- 5Y*
- 3.69%
- 10Y*
- —
SSHY.L
- 1D
- 0.17%
- 1M
- 1.33%
- YTD
- 1.51%
- 6M
- 1.49%
- 1Y
- 8.19%
- 3Y*
- 5.91%
- 5Y*
- 6.31%
- 10Y*
- 6.28%
JHYP.L vs. SSHY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JHYP.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) | 2.14% | 9.26% | 7.69% | 9.79% | -10.02% | 2.97% | 14.80% |
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist | 1.51% | 1.40% | 10.17% | 5.51% | 6.56% | 5.70% | 6.09% |
Correlation
The correlation between JHYP.L and SSHY.L is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 1, 2020 | 0.06 |
The correlation between JHYP.L and SSHY.L shifts across timeframes, from -0.05 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JHYP.L vs. SSHY.L — Risk / Return Rank
JHYP.L
SSHY.L
JHYP.L vs. SSHY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.L) 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.
| JHYP.L | SSHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.26 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 2.25 | +1.16 |
| Martin ratioReturn relative to average drawdown | 14.15 | 6.90 | +7.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JHYP.L | SSHY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 1.44 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.83 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.69 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 0.60 | +0.41 |
Drawdowns
JHYP.L vs. SSHY.L - Drawdown Comparison
The maximum JHYP.L drawdown since its inception was -15.44%, roughly equal to the maximum SSHY.L drawdown of -15.94%. Use the drawdown chart below to compare losses from any high point for JHYP.L and SSHY.L.
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Drawdown Indicators
| JHYP.L | SSHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.44% | -15.94% | +0.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.46% | -3.63% | +1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -4.58% | -9.91% | +5.33% |
Max Drawdown (5Y)Largest decline over 5 years | -15.44% | -10.24% | -5.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.94% | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.89% | +0.86% |
Average DrawdownAverage peak-to-trough decline | -3.22% | -4.30% | +1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 1.18% | -0.59% |
Volatility
JHYP.L vs. SSHY.L - Volatility Comparison
The current volatility for JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.L) is 1.06%, while PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L) has a volatility of 1.59%. This indicates that JHYP.L experiences smaller price fluctuations and is considered to be less risky than SSHY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JHYP.L | SSHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.59% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 4.03% | -1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 5.67% | -1.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.62% | 7.58% | -1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.68% | 9.16% | -3.48% |
JHYP.L vs. SSHY.L - Expense Ratio Comparison
JHYP.L has a 0.35% expense ratio, which is lower than SSHY.L's 0.55% expense ratio.
Dividends
JHYP.L vs. SSHY.L - Dividend Comparison
JHYP.L's dividend yield for the trailing twelve months is around 5.97%, less than SSHY.L's 7.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JHYP.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) | 5.97% | 6.58% | 5.96% | 8.55% | 5.62% | 4.37% | 0.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist | 7.07% | 7.33% | 7.48% | 6.52% | 4.86% | 4.47% | 5.24% | 5.27% | 5.10% | 5.48% | 4.92% | 5.11% |
Frequently Asked Questions
JHYP.L and SSHY.L have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JHYP.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JHYP.L is cheaper with a 0.35% expense ratio, compared with 0.55% for SSHY.L.
JHYP.L tracks ICE BofA Gbl HY Constnd TR HGBP, while SSHY.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: JPMorgan and PIMCO. Their fees differ too: 0.35% for JHYP.L and 0.55% for SSHY.L.
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