SSHY.L vs. EMDG.L
SSHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist) and EMDG.L (L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF) are both exchange-traded funds - SSHY.L is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD, while EMDG.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, SSHY.L returned 6.31%/yr vs 3.95%/yr for EMDG.L. Their correlation of 0.80 suggests significant overlap in exposure. SSHY.L charges 0.55%/yr vs 0.25%/yr for EMDG.L.
Performance
SSHY.L vs. EMDG.L - Performance Comparison
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Different Trading Currencies
SSHY.L is traded in GBP, while EMDG.L is traded in GBp. To make them comparable, the EMDG.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SSHY.L achieves a 1.51% return, which is significantly lower than EMDG.L's 1.60% return.
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%
EMDG.L
- 1D
- 0.12%
- 1M
- 1.49%
- YTD
- 1.60%
- 6M
- 1.41%
- 1Y
- 7.92%
- 3Y*
- 5.79%
- 5Y*
- 3.95%
- 10Y*
- —
SSHY.L vs. EMDG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
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% | -1.14% |
EMDG.L L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF | 1.60% | 2.35% | 10.43% | 1.99% | 0.28% | 0.96% | -1.56% |
Correlation
The correlation between SSHY.L and EMDG.L is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.80 |
The correlation between SSHY.L and EMDG.L has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.
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Return for Risk
SSHY.L vs. EMDG.L — Risk / Return Rank
SSHY.L
EMDG.L
SSHY.L vs. EMDG.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 L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMDG.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.
| SSHY.L | EMDG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.24 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.10 | +0.14 |
| Martin ratioReturn relative to average drawdown | 6.90 | 6.03 | +0.87 |
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
| SSHY.L | EMDG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 1.36 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.50 | +0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.37 | +0.24 |
Drawdowns
SSHY.L vs. EMDG.L - Drawdown Comparison
The maximum SSHY.L drawdown since its inception was -15.94%, which is greater than EMDG.L's maximum drawdown of -12.32%. Use the drawdown chart below to compare losses from any high point for SSHY.L and EMDG.L.
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Drawdown Indicators
| SSHY.L | EMDG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.94% | -12.32% | -3.62% |
Max Drawdown (1Y)Largest decline over 1 year | -3.63% | -3.76% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -9.91% | -7.93% | -1.98% |
Max Drawdown (5Y)Largest decline over 5 years | -10.24% | -12.32% | +2.08% |
Max Drawdown (10Y)Largest decline over 10 years | -15.94% | — | — |
Current DrawdownCurrent decline from peak | -0.89% | -0.29% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -4.33% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 1.31% | -0.13% |
Volatility
SSHY.L vs. EMDG.L - Volatility Comparison
The current volatility for PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L) is 1.59%, while L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMDG.L) has a volatility of 1.78%. This indicates that SSHY.L experiences smaller price fluctuations and is considered to be less risky than EMDG.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 | EMDG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.59% | 1.78% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 4.08% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.67% | 5.81% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 7.86% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.16% | 7.82% | +1.34% |
SSHY.L vs. EMDG.L - Expense Ratio Comparison
SSHY.L has a 0.55% expense ratio, which is higher than EMDG.L's 0.25% expense ratio.
Dividends
SSHY.L vs. EMDG.L - Dividend Comparison
SSHY.L's dividend yield for the trailing twelve months is around 7.07%, more than EMDG.L's 5.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMDG.L L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF | 5.33% | 5.95% | 5.95% | 4.65% | 2.91% | 1.21% | 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 | 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
SSHY.L and EMDG.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMDG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMDG.L is cheaper with a 0.25% expense ratio, compared with 0.55% for SSHY.L.
SSHY.L is categorized as High Yield Bonds, while EMDG.L is Emerging Markets Bonds. SSHY.L tracks Bloomberg US Corporate High Yield TR USD, while EMDG.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: PIMCO and Legal & General. Their fees differ too: 0.55% for SSHY.L and 0.25% for EMDG.L.
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