SSHY.L vs. VWRD.L
SSHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist) and VWRD.L (Vanguard FTSE All-World UCITS ETF) are both exchange-traded funds - SSHY.L is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD, while VWRD.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 10 years, SSHY.L returned 6.28%/yr vs 13.48%/yr for VWRD.L. At a 0.42 correlation, their price movements are largely independent. SSHY.L charges 0.55%/yr vs 0.22%/yr for VWRD.L.
Performance
SSHY.L vs. VWRD.L - Performance Comparison
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Different Trading Currencies
SSHY.L is traded in GBP, while VWRD.L is traded in USD. To make them comparable, the VWRD.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 VWRD.L's 12.08% return. Over the past 10 years, SSHY.L has underperformed VWRD.L with an annualized return of 6.28%, while VWRD.L has yielded a comparatively higher 13.48% 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%
VWRD.L
- 1D
- -0.10%
- 1M
- 5.24%
- YTD
- 12.08%
- 6M
- 12.23%
- 1Y
- 29.86%
- 3Y*
- 18.05%
- 5Y*
- 12.45%
- 10Y*
- 13.48%
SSHY.L vs. VWRD.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% |
VWRD.L Vanguard FTSE All-World UCITS ETF | 12.08% | 13.66% | 19.71% | 16.20% | -8.46% | 19.64% | 12.72% | 20.89% | -4.35% | 13.61% |
Correlation
The correlation between SSHY.L and VWRD.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2013 | 0.42 |
Over the past year, the correlation between SSHY.L and VWRD.L has dropped to 0.18 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
SSHY.L vs. VWRD.L — Risk / Return Rank
SSHY.L
VWRD.L
SSHY.L vs. VWRD.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 Vanguard FTSE All-World UCITS ETF (VWRD.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 | VWRD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.47 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 4.27 | -2.02 |
| Martin ratioReturn relative to average drawdown | 6.90 | 16.46 | -9.56 |
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 | VWRD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 2.51 | -1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.88 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.88 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.90 | -0.30 |
Drawdowns
SSHY.L vs. VWRD.L - Drawdown Comparison
The maximum SSHY.L drawdown since its inception was -15.94%, smaller than the maximum VWRD.L drawdown of -25.84%. Use the drawdown chart below to compare losses from any high point for SSHY.L and VWRD.L.
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Drawdown Indicators
| SSHY.L | VWRD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.94% | -25.84% | +9.90% |
Max Drawdown (1Y)Largest decline over 1 year | -3.63% | -6.96% | +3.33% |
Max Drawdown (3Y)Largest decline over 3 years | -9.91% | -18.11% | +8.20% |
Max Drawdown (5Y)Largest decline over 5 years | -10.24% | -18.11% | +7.87% |
Max Drawdown (10Y)Largest decline over 10 years | -15.94% | -25.84% | +9.90% |
Current DrawdownCurrent decline from peak | -0.89% | -0.43% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -3.47% | -0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 1.81% | -0.63% |
Volatility
SSHY.L vs. VWRD.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 Vanguard FTSE All-World UCITS ETF (VWRD.L) has a volatility of 3.68%. This indicates that SSHY.L experiences smaller price fluctuations and is considered to be less risky than VWRD.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 | VWRD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.59% | 3.68% | -2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 9.26% | -5.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.67% | 11.85% | -6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 14.07% | -6.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.16% | 15.29% | -6.13% |
SSHY.L vs. VWRD.L - Expense Ratio Comparison
SSHY.L has a 0.55% expense ratio, which is higher than VWRD.L's 0.22% expense ratio.
Dividends
SSHY.L vs. VWRD.L - Dividend Comparison
SSHY.L's dividend yield for the trailing twelve months is around 7.07%, more than VWRD.L's 1.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VWRD.L Vanguard FTSE All-World UCITS ETF | 1.24% | 1.38% | 1.52% | 1.69% | 2.05% | 1.48% | 1.47% | 1.88% | 2.29% | 1.82% | 2.04% | 2.07% |
Frequently Asked Questions
SSHY.L and VWRD.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VWRD.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWRD.L is cheaper with a 0.22% expense ratio, compared with 0.55% for SSHY.L.
SSHY.L is categorized as High Yield Bonds, while VWRD.L is Global Equities. SSHY.L tracks Bloomberg US Corporate High Yield TR USD, while VWRD.L tracks FTSE All-World Index. They also come from different issuers: PIMCO and Vanguard. Their fees differ too: 0.55% for SSHY.L and 0.22% for VWRD.L.
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