SSHY.L vs. HYGU.L
SSHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist) and HYGU.L (iShares € High Yield Corp Bond UCITS ETF) are both High Yield Bonds funds - SSHY.L tracks the Bloomberg US Corporate High Yield TR USD while HYGU.L tracks the iShares € High Yield Corp Bond UCITS ETF. Both are passively managed. Over the past 5 years, SSHY.L returned 5.59%/yr vs 4.95%/yr for HYGU.L. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.55% expense ratio.
Performance
SSHY.L vs. HYGU.L - Performance Comparison
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Different Trading Currencies
SSHY.L is traded in GBP, while HYGU.L is traded in USD. To make them comparable, the HYGU.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 1.37% return, which is significantly lower than HYGU.L's 1.79% return.
SSHY.L
- 1D
- -0.54%
- 1M
- -0.43%
- 6M
- 0.80%
- YTD
- 1.37%
- 1Y
- 5.38%
- 3Y*
- 7.23%
- 5Y*
- 5.59%
- 10Y*
- 5.06%
HYGU.L
- 1D
- 0.00%
- 1M
- -0.61%
- 6M
- 1.58%
- YTD
- 1.79%
- 1Y
- 4.13%
- 3Y*
- 6.96%
- 5Y*
- 4.95%
- 10Y*
- —
SSHY.L vs. HYGU.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 | 1.37% | 1.40% | 10.17% | 5.50% | 6.56% | 5.71% | 0.33% | 6.66% | 5.06% | -1.09% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 1.79% | -0.40% | 9.16% | 7.87% | 3.91% | 4.70% | -0.84% | 8.53% | 5.02% | -1.67% |
Correlation
The correlation between SSHY.L and HYGU.L is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | 0.70 |
The correlation between SSHY.L and HYGU.L has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.
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Return for Risk
SSHY.L vs. HYGU.L — Risk / Return Rank
SSHY.L
HYGU.L
SSHY.L vs. HYGU.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 UCITS ETF (HYGU.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 | HYGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.12 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 1.02 | +0.45 |
| Martin ratioReturn relative to average drawdown | 4.39 | 2.54 | +1.85 |
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Drawdowns
SSHY.L vs. HYGU.L - Drawdown Comparison
The maximum SSHY.L drawdown since its inception was -38.26%, which is greater than HYGU.L's maximum drawdown of -19.14%. Use the drawdown chart below to compare losses from any high point for SSHY.L and HYGU.L.
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Drawdown Indicators
| SSHY.L | HYGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.26% | -19.14% | -19.12% |
Max Drawdown (1Y)Largest decline over 1 year | -3.64% | -4.27% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -9.91% | -8.35% | -1.56% |
Max Drawdown (5Y)Largest decline over 5 years | -10.25% | -9.08% | -1.17% |
Max Drawdown (10Y)Largest decline over 10 years | -15.95% | — | — |
Current DrawdownCurrent decline from peak | -2.40% | -2.40% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -11.52% | -3.90% | -7.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 1.72% | -0.50% |
Volatility
SSHY.L vs. HYGU.L - Volatility Comparison
PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L) has a higher volatility of 1.81% compared to iShares € High Yield Corp Bond UCITS ETF (HYGU.L) at 1.71%. This indicates that SSHY.L's price experiences larger fluctuations and is considered to be riskier than HYGU.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 | HYGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.81% | 1.71% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 4.13% | 5.08% | -0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.76% | 6.76% | -1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 8.40% | -0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.71% | 9.42% | -0.71% |
SSHY.L vs. HYGU.L - Expense Ratio Comparison
Both SSHY.L and HYGU.L have an expense ratio of 0.55%.
Dividends
SSHY.L vs. HYGU.L - Dividend Comparison
SSHY.L's dividend yield for the trailing twelve months is around 7.01%, while HYGU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 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 | 7.01% | 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 HYGU.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SSHY.L and HYGU.L have the same expense ratio: 0.55% per year.
SSHY.L tracks Bloomberg US Corporate High Yield TR USD, while HYGU.L tracks iShares € High Yield Corp Bond UCITS ETF. They also come from different issuers: PIMCO and iShares.
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