SSHY.L vs. EMLP.L
SSHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist) and EMLP.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc) are both exchange-traded funds - SSHY.L is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD, while EMLP.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 3.99%/yr for EMLP.L. A 0.61 correlation means they provide meaningful diversification when combined. SSHY.L charges 0.55%/yr vs 0.61%/yr for EMLP.L.
Performance
SSHY.L vs. EMLP.L - Performance Comparison
Loading charts...
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with SSHY.L at 1.51% and EMLP.L at 1.51%. Over the past 10 years, SSHY.L has outperformed EMLP.L with an annualized return of 6.28%, while EMLP.L has yielded a comparatively lower 3.99% 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%
EMLP.L
- 1D
- -0.16%
- 1M
- 0.73%
- YTD
- 1.51%
- 6M
- 1.14%
- 1Y
- 9.68%
- 3Y*
- 3.69%
- 5Y*
- 4.40%
- 10Y*
- 3.99%
SSHY.L vs. EMLP.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% |
EMLP.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc | 1.51% | 9.10% | -1.68% | 7.52% | 5.55% | -4.33% | -1.55% | 9.55% | -1.46% | 2.43% |
Correlation
The correlation between SSHY.L and EMLP.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2013 | 0.61 |
The correlation between SSHY.L and EMLP.L has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SSHY.L vs. EMLP.L — Risk / Return Rank
SSHY.L
EMLP.L
SSHY.L vs. EMLP.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 Acc (EMLP.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 | EMLP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.32 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.25 | 0.00 |
| Martin ratioReturn relative to average drawdown | 6.90 | 6.49 | +0.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SSHY.L | EMLP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 1.79 | -0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.54 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.42 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.33 | +0.27 |
Drawdowns
SSHY.L vs. EMLP.L - Drawdown Comparison
The maximum SSHY.L drawdown since its inception was -15.94%, smaller than the maximum EMLP.L drawdown of -20.02%. Use the drawdown chart below to compare losses from any high point for SSHY.L and EMLP.L.
Loading charts...
Drawdown Indicators
| SSHY.L | EMLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.94% | -20.02% | +4.08% |
Max Drawdown (1Y)Largest decline over 1 year | -3.63% | -4.29% | +0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -9.91% | -4.90% | -5.01% |
Max Drawdown (5Y)Largest decline over 5 years | -10.24% | -11.25% | +1.01% |
Max Drawdown (10Y)Largest decline over 10 years | -15.94% | -19.12% | +3.18% |
Current DrawdownCurrent decline from peak | -0.89% | -2.33% | +1.44% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -6.09% | +1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 1.49% | -0.31% |
Volatility
SSHY.L vs. EMLP.L - Volatility Comparison
PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L) has a higher volatility of 1.59% compared to PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc (EMLP.L) at 1.50%. This indicates that SSHY.L's price experiences larger fluctuations and is considered to be riskier than EMLP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SSHY.L | EMLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.59% | 1.50% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 4.23% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.67% | 5.40% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 8.09% | -0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.16% | 9.52% | -0.36% |
SSHY.L vs. EMLP.L - Expense Ratio Comparison
SSHY.L has a 0.55% expense ratio, which is lower than EMLP.L's 0.61% expense ratio.
Dividends
SSHY.L vs. EMLP.L - Dividend Comparison
SSHY.L's dividend yield for the trailing twelve months is around 7.07%, while EMLP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLP.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF 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 | 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 EMLP.L have a correlation of 0.54, 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 EMLP.L.
SSHY.L is categorized as High Yield Bonds, while EMLP.L is Emerging Markets Bonds. SSHY.L tracks Bloomberg US Corporate High Yield TR USD, while EMLP.L tracks JPM GBI-EM Global Diversified TR USD. Their fees differ too: 0.55% for SSHY.L and 0.61% for EMLP.L.
Find the right allocation for SSHY.L and EMLP.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer