SSHY.L vs. EMLI.L
SSHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist) and EMLI.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist) are both exchange-traded funds - SSHY.L is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD, while EMLI.L is a Emerging Markets Bonds fund tracking the JPM GBI-EM Global Diversified TR USD. Both are passively managed. Over the past 10 years, SSHY.L returned 6.28%/yr vs 4.00%/yr for EMLI.L. At a 0.47 correlation, their price movements are largely independent. SSHY.L charges 0.55%/yr vs 0.61%/yr for EMLI.L.
Performance
SSHY.L vs. EMLI.L - Performance Comparison
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Different Trading Currencies
SSHY.L is traded in GBP, while EMLI.L is traded in USD. To make them comparable, the EMLI.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 EMLI.L's 2.05% return. Over the past 10 years, SSHY.L has outperformed EMLI.L with an annualized return of 6.28%, while EMLI.L has yielded a comparatively lower 4.00% annualized 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%
EMLI.L
- 1D
- -0.27%
- 1M
- 0.51%
- YTD
- 2.05%
- 6M
- 0.93%
- 1Y
- 9.41%
- 3Y*
- 3.71%
- 5Y*
- 4.41%
- 10Y*
- 4.00%
SSHY.L vs. EMLI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.33% | 6.66% | 5.07% | -3.96% |
EMLI.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist | 2.05% | 8.31% | -1.55% | 8.00% | 5.61% | -4.62% | -1.08% | 8.74% | -1.37% | 2.85% |
Correlation
The correlation between SSHY.L and EMLI.L is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | 0.47 |
The correlation between SSHY.L and EMLI.L shifts across timeframes, from 0.31 (1 year) to 0.47 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
SSHY.L vs. EMLI.L — Risk / Return Rank
SSHY.L
EMLI.L
SSHY.L vs. EMLI.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 PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist (EMLI.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 | EMLI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.24 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.10 | +0.15 |
| 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 | EMLI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 1.32 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.43 | +0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.36 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.35 | +0.25 |
Drawdowns
SSHY.L vs. EMLI.L - Drawdown Comparison
The maximum SSHY.L drawdown since its inception was -15.94%, smaller than the maximum EMLI.L drawdown of -20.70%. Use the drawdown chart below to compare losses from any high point for SSHY.L and EMLI.L.
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Drawdown Indicators
| SSHY.L | EMLI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.94% | -20.70% | +4.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.63% | -4.47% | +0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -9.91% | -4.66% | -5.25% |
Max Drawdown (5Y)Largest decline over 5 years | -10.24% | -12.78% | +2.54% |
Max Drawdown (10Y)Largest decline over 10 years | -15.94% | -20.70% | +4.76% |
Current DrawdownCurrent decline from peak | -0.89% | -2.34% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -5.87% | +1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 1.56% | -0.38% |
Volatility
SSHY.L vs. EMLI.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 PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist (EMLI.L) has a volatility of 2.06%. This indicates that SSHY.L experiences smaller price fluctuations and is considered to be less risky than EMLI.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 | EMLI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.59% | 2.06% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 5.98% | -1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.67% | 7.12% | -1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 10.22% | -2.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.16% | 11.02% | -1.86% |
SSHY.L vs. EMLI.L - Expense Ratio Comparison
SSHY.L has a 0.55% expense ratio, which is lower than EMLI.L's 0.61% expense ratio.
Dividends
SSHY.L vs. EMLI.L - Dividend Comparison
SSHY.L's dividend yield for the trailing twelve months is around 7.07%, more than EMLI.L's 6.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLI.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist | 6.55% | 5.81% | 6.33% | 5.70% | 5.21% | 4.50% | 3.68% | 5.24% | 5.83% | 5.76% | 6.69% | 7.09% |
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 EMLI.L have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SSHY.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SSHY.L is cheaper with a 0.55% expense ratio, compared with 0.61% for EMLI.L.
SSHY.L is categorized as High Yield Bonds, while EMLI.L is Emerging Markets Bonds. SSHY.L tracks Bloomberg US Corporate High Yield TR USD, while EMLI.L tracks JPM GBI-EM Global Diversified TR USD. Their fees differ too: 0.55% for SSHY.L and 0.61% for EMLI.L.
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