SSHY.L vs. SDHY.L
SSHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist) and SDHY.L ( iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist) are both High Yield Bonds funds - SSHY.L tracks the Bloomberg US Corporate High Yield TR USD while SDHY.L tracks the Markit iBoxx USD Liquid High Yield 0-5 Capped Index. Both are passively managed. Over the past 10 years, SSHY.L returned 6.28%/yr vs 5.73%/yr for SDHY.L. A 0.78 correlation means they provide meaningful diversification when combined. SSHY.L charges 0.55%/yr vs 0.45%/yr for SDHY.L.
Performance
SSHY.L vs. SDHY.L - Performance Comparison
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Different Trading Currencies
SSHY.L is traded in GBP, while SDHY.L is traded in USD. To make them comparable, the SDHY.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 SDHY.L's 1.84% return. Over the past 10 years, SSHY.L has outperformed SDHY.L with an annualized return of 6.28%, while SDHY.L has yielded a comparatively lower 5.73% 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%
SDHY.L
- 1D
- 0.13%
- 1M
- 1.09%
- YTD
- 1.84%
- 6M
- 1.40%
- 1Y
- 8.23%
- 3Y*
- 4.91%
- 5Y*
- 5.74%
- 10Y*
- 5.73%
SSHY.L vs. SDHY.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% |
SDHY.L iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist | 1.84% | 1.14% | 8.36% | 3.31% | 8.23% | 4.40% | 1.01% | 5.44% | 6.21% | -4.75% |
Correlation
The correlation between SSHY.L and SDHY.L is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2013 | 0.78 |
The correlation between SSHY.L and SDHY.L has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.
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Return for Risk
SSHY.L vs. SDHY.L — Risk / Return Rank
SSHY.L
SDHY.L
SSHY.L vs. SDHY.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 $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.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 | SDHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.23 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.08 | +0.17 |
| Martin ratioReturn relative to average drawdown | 6.90 | 6.47 | +0.43 |
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 | SDHY.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 | 0.69 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.58 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.59 | +0.01 |
Drawdowns
SSHY.L vs. SDHY.L - Drawdown Comparison
The maximum SSHY.L drawdown since its inception was -15.94%, which is greater than SDHY.L's maximum drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for SSHY.L and SDHY.L.
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Drawdown Indicators
| SSHY.L | SDHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.94% | -13.12% | -2.82% |
Max Drawdown (1Y)Largest decline over 1 year | -3.63% | -3.94% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -9.91% | -8.65% | -1.26% |
Max Drawdown (5Y)Largest decline over 5 years | -10.24% | -11.99% | +1.75% |
Max Drawdown (10Y)Largest decline over 10 years | -15.94% | -13.12% | -2.82% |
Current DrawdownCurrent decline from peak | -0.89% | -0.61% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -4.07% | -0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 1.27% | -0.09% |
Volatility
SSHY.L vs. SDHY.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 iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.L) has a volatility of 1.95%. This indicates that SSHY.L experiences smaller price fluctuations and is considered to be less risky than SDHY.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 | SDHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.59% | 1.95% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 4.74% | -0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.67% | 6.24% | -0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 8.31% | -0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.16% | 9.85% | -0.69% |
SSHY.L vs. SDHY.L - Expense Ratio Comparison
SSHY.L has a 0.55% expense ratio, which is higher than SDHY.L's 0.45% expense ratio.
Dividends
SSHY.L vs. SDHY.L - Dividend Comparison
SSHY.L's dividend yield for the trailing twelve months is around 7.07%, less than SDHY.L's 8.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SDHY.L iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist | 8.31% | 6.59% | 6.41% | 5.64% | 4.31% | 4.24% | 4.80% | 5.26% | 5.48% | 5.42% | 5.68% | 5.05% |
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 SDHY.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SDHY.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SDHY.L is cheaper with a 0.45% expense ratio, compared with 0.55% for SSHY.L.
SSHY.L tracks Bloomberg US Corporate High Yield TR USD, while SDHY.L tracks Markit iBoxx USD Liquid High Yield 0-5 Capped Index. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.55% for SSHY.L and 0.45% for SDHY.L.
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