SSHY.L vs. HYSD.L
SSHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist) and HYSD.L (iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) are both High Yield Bonds funds - SSHY.L tracks the Bloomberg US Corporate High Yield TR USD while HYSD.L tracks the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 3 years, SSHY.L returned 7.19%/yr vs 7.99%/yr for HYSD.L. At a 0.02 correlation, their price movements are largely independent. SSHY.L charges 0.55%/yr vs 0.22%/yr for HYSD.L.
Performance
SSHY.L vs. HYSD.L - Performance Comparison
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Returns By Period
In the year-to-date period, SSHY.L achieves a 1.80% return, which is significantly lower than HYSD.L's 1.97% return.
SSHY.L
- 1D
- 0.07%
- 1M
- -0.27%
- 6M
- 0.97%
- YTD
- 1.80%
- 1Y
- 5.74%
- 3Y*
- 7.19%
- 5Y*
- 5.68%
- 10Y*
- 5.04%
HYSD.L
- 1D
- 0.00%
- 1M
- 0.31%
- 6M
- 1.29%
- YTD
- 1.97%
- 1Y
- 5.49%
- 3Y*
- 7.99%
- 5Y*
- —
- 10Y*
- —
SSHY.L vs. HYSD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist | 1.80% | 1.40% | 10.17% | 5.50% | 1.04% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.97% | 8.24% | 7.60% | 11.75% | -3.60% |
Correlation
The correlation between SSHY.L and HYSD.L is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2022 | 0.02 |
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Return for Risk
SSHY.L vs. HYSD.L — Risk / Return Rank
SSHY.L
HYSD.L
SSHY.L vs. HYSD.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 Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.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 | HYSD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.28 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 2.26 | -0.69 |
| Martin ratioReturn relative to average drawdown | 4.64 | 9.94 | -5.30 |
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Drawdowns
SSHY.L vs. HYSD.L - Drawdown Comparison
The maximum SSHY.L drawdown since its inception was -38.26%, which is greater than HYSD.L's maximum drawdown of -9.53%. Use the drawdown chart below to compare losses from any high point for SSHY.L and HYSD.L.
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Drawdown Indicators
| SSHY.L | HYSD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.26% | -9.53% | -28.73% |
Max Drawdown (1Y)Largest decline over 1 year | -3.64% | -2.42% | -1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -9.91% | -5.02% | -4.89% |
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 | -1.99% | -0.10% | -1.89% |
Average DrawdownAverage peak-to-trough decline | -11.51% | -1.50% | -10.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 0.55% | +0.69% |
Volatility
SSHY.L vs. HYSD.L - Volatility Comparison
PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L) has a higher volatility of 1.53% compared to iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.L) at 0.91%. This indicates that SSHY.L's price experiences larger fluctuations and is considered to be riskier than HYSD.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 | HYSD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 0.91% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 4.13% | 3.13% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.72% | 3.88% | +1.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 6.08% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.71% | 6.08% | +2.63% |
SSHY.L vs. HYSD.L - Expense Ratio Comparison
SSHY.L has a 0.55% expense ratio, which is higher than HYSD.L's 0.22% expense ratio.
Dividends
SSHY.L vs. HYSD.L - Dividend Comparison
SSHY.L's dividend yield for the trailing twelve months is around 7.02%, less than HYSD.L's 7.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 7.39% | 7.39% | 7.39% | 5.61% | 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 | 7.02% | 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 HYSD.L have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYSD.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYSD.L is cheaper with a 0.22% expense ratio, compared with 0.55% for SSHY.L.
SSHY.L tracks Bloomberg US Corporate High Yield TR USD, while HYSD.L tracks ICE BofA US High Yield Constrained Index. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.55% for SSHY.L and 0.22% for HYSD.L.
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