SDHA.L vs. STHY.L
SDHA.L (iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc)) and STHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income) are both High Yield Bonds funds - SDHA.L tracks the Bloomberg US Corporate High Yield TR USD while STHY.L tracks the ICE BofA 0-5 Year US High Yield Constrained Index. Both are passively managed. Over the past 5 years, SDHA.L returned 4.65%/yr vs 5.18%/yr for STHY.L. Their correlation of 0.81 suggests significant overlap in exposure. SDHA.L charges 0.45%/yr vs 0.55%/yr for STHY.L.
Performance
SDHA.L vs. STHY.L - Performance Comparison
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Returns By Period
In the year-to-date period, SDHA.L achieves a 1.56% return, which is significantly higher than STHY.L's 1.38% return.
SDHA.L
- 1D
- 0.14%
- 1M
- 0.21%
- YTD
- 1.56%
- 6M
- 2.20%
- 1Y
- 7.09%
- 3Y*
- 7.71%
- 5Y*
- 4.65%
- 10Y*
- —
STHY.L
- 1D
- -0.09%
- 1M
- -0.09%
- YTD
- 1.38%
- 6M
- 2.02%
- 1Y
- 7.05%
- 3Y*
- 8.69%
- 5Y*
- 5.18%
- 10Y*
- 5.49%
SDHA.L vs. STHY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SDHA.L iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) | 1.56% | 8.87% | 6.63% | 8.90% | -3.48% | 3.62% | 3.98% | 9.51% | -0.74% |
STHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income | 1.38% | 8.60% | 8.44% | 11.65% | -4.82% | 4.37% | 3.88% | 10.09% | -1.67% |
Correlation
The correlation between SDHA.L and STHY.L is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2018 | 0.81 |
Over the past year, the correlation between SDHA.L and STHY.L has dropped to 0.55 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.
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Return for Risk
SDHA.L vs. STHY.L — Risk / Return Rank
SDHA.L
STHY.L
SDHA.L vs. STHY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) (SDHA.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income (STHY.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.
| SDHA.L | STHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.42 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.82 | 4.01 | -0.19 |
| Martin ratioReturn relative to average drawdown | 17.08 | 15.93 | +1.14 |
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
| SDHA.L | STHY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 2.05 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 0.96 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.89 | -0.14 |
Drawdowns
SDHA.L vs. STHY.L - Drawdown Comparison
The maximum SDHA.L drawdown since its inception was -17.77%, smaller than the maximum STHY.L drawdown of -21.75%. Use the drawdown chart below to compare losses from any high point for SDHA.L and STHY.L.
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Drawdown Indicators
| SDHA.L | STHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.77% | -21.75% | +3.98% |
Max Drawdown (1Y)Largest decline over 1 year | -1.85% | -1.75% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -4.57% | -4.66% | +0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -8.30% | -9.55% | +1.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.75% | — |
Current DrawdownCurrent decline from peak | -0.07% | -0.28% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -1.42% | +0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 0.44% | -0.03% |
Volatility
SDHA.L vs. STHY.L - Volatility Comparison
iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) (SDHA.L) has a higher volatility of 1.32% compared to PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income (STHY.L) at 1.25%. This indicates that SDHA.L's price experiences larger fluctuations and is considered to be riskier than STHY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDHA.L | STHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 1.25% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 2.84% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.33% | 3.44% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.49% | 5.41% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.39% | 6.30% | +0.09% |
SDHA.L vs. STHY.L - Expense Ratio Comparison
SDHA.L has a 0.45% expense ratio, which is lower than STHY.L's 0.55% expense ratio.
Dividends
SDHA.L vs. STHY.L - Dividend Comparison
SDHA.L has not paid dividends to shareholders, while STHY.L's dividend yield for the trailing twelve months is around 7.05%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SDHA.L iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (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% |
STHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income | 7.05% | 7.17% | 7.60% | 6.36% | 4.97% | 4.58% | 4.89% | 5.10% | 5.32% | 5.21% | 5.39% | 5.29% |
Frequently Asked Questions
SDHA.L and STHY.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SDHA.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SDHA.L is cheaper with a 0.45% expense ratio, compared with 0.55% for STHY.L.
SDHA.L tracks Bloomberg US Corporate High Yield TR USD, while STHY.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: 0.45% for SDHA.L and 0.55% for STHY.L.
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