SSHY.L vs. EHYG.L
SSHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist) and EHYG.L (iShares € High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Acc)) are both High Yield Bonds funds - SSHY.L tracks the Bloomberg US Corporate High Yield TR USD while EHYG.L tracks the Bloomberg MSCI Euro Corporate High Yield ESG SRI Bond Index (EUR). Both are passively managed. Over the past 3 years, SSHY.L returned 7.34%/yr vs 8.84%/yr for EHYG.L. At a 0.01 correlation, their price movements are largely independent. SSHY.L charges 0.55%/yr vs 0.27%/yr for EHYG.L.
Performance
SSHY.L vs. EHYG.L - Performance Comparison
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Returns By Period
In the year-to-date period, SSHY.L achieves a 3.24% return, which is significantly higher than EHYG.L's 2.02% return.
SSHY.L
- 1D
- -0.60%
- 1M
- 2.01%
- YTD
- 3.24%
- 6M
- 3.79%
- 1Y
- 9.63%
- 3Y*
- 7.34%
- 5Y*
- 6.17%
- 10Y*
- 5.60%
EHYG.L
- 1D
- 0.15%
- 1M
- 0.92%
- YTD
- 2.02%
- 6M
- 2.34%
- 1Y
- 6.33%
- 3Y*
- 8.84%
- 5Y*
- —
- 10Y*
- —
SSHY.L vs. EHYG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist | 3.24% | 1.40% | 10.17% | 6.06% |
EHYG.L iShares € High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Acc) | 2.02% | 7.90% | 7.79% | 9.74% |
Correlation
The correlation between SSHY.L and EHYG.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 | 0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2023 | 0.01 |
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Return for Risk
SSHY.L vs. EHYG.L — Risk / Return Rank
SSHY.L
EHYG.L
SSHY.L vs. EHYG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L) and iShares € High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Acc) (EHYG.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.
| SSHY.L | EHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.36 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 2.27 | +0.37 |
| Martin ratioReturn relative to average drawdown | 8.17 | 9.98 | -1.81 |
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Drawdowns
SSHY.L vs. EHYG.L - Drawdown Comparison
The maximum SSHY.L drawdown since its inception was -38.26%, which is greater than EHYG.L's maximum drawdown of -3.14%. Use the drawdown chart below to compare losses from any high point for SSHY.L and EHYG.L.
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Drawdown Indicators
| SSHY.L | EHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.26% | -3.14% | -35.12% |
Max Drawdown (1Y)Largest decline over 1 year | -3.64% | -2.78% | -0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -9.91% | -3.14% | -6.77% |
Max Drawdown (5Y)Largest decline over 5 years | -10.25% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.95% | — | — |
Current DrawdownCurrent decline from peak | -0.60% | 0.00% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -11.56% | -0.32% | -11.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 0.63% | +0.55% |
Volatility
SSHY.L vs. EHYG.L - Volatility Comparison
PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L) has a higher volatility of 1.74% compared to iShares € High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Acc) (EHYG.L) at 0.80%. This indicates that SSHY.L's price experiences larger fluctuations and is considered to be riskier than EHYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSHY.L | EHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 0.80% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 3.23% | +0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.75% | 3.70% | +2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 3.81% | +3.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.82% | 3.81% | +5.01% |
SSHY.L vs. EHYG.L - Expense Ratio Comparison
SSHY.L has a 0.55% expense ratio, which is higher than EHYG.L's 0.27% expense ratio.
Dividends
SSHY.L vs. EHYG.L - Dividend Comparison
SSHY.L's dividend yield for the trailing twelve months is around 6.89%, while EHYG.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EHYG.L iShares € High Yield Corp Bond ESG SRI UCITS ETF GBP 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% |
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist | 6.89% | 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
SSHY.L and EHYG.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, EHYG.L is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EHYG.L is cheaper with a 0.27% expense ratio, compared with 0.55% for SSHY.L.
SSHY.L tracks Bloomberg US Corporate High Yield TR USD, while EHYG.L tracks Bloomberg MSCI Euro Corporate High Yield ESG SRI Bond Index (EUR). They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.55% for SSHY.L and 0.27% for EHYG.L.
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