STEA.L vs. HYEA.L
STEA.L (PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc) and HYEA.L (iShares Global High Yield Corporate Bond UCITS ETF) are both High Yield Bonds funds - STEA.L tracks the PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc while HYEA.L tracks the ICE BofA Gbl HY Constnd TR USD. Both are passively managed. Over the past 5 years, STEA.L returned 3.11%/yr vs 3.75%/yr for HYEA.L. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
STEA.L vs. HYEA.L - Performance Comparison
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Returns By Period
In the year-to-date period, STEA.L achieves a 0.53% return, which is significantly lower than HYEA.L's 3.05% return.
STEA.L
- 1D
- -0.15%
- 1M
- -0.21%
- 6M
- 0.45%
- YTD
- 0.53%
- 1Y
- 4.04%
- 3Y*
- 6.23%
- 5Y*
- 3.11%
- 10Y*
- —
HYEA.L
- 1D
- 0.00%
- 1M
- 0.90%
- 6M
- 2.38%
- YTD
- 3.05%
- 1Y
- 5.75%
- 3Y*
- 6.96%
- 5Y*
- 3.75%
- 10Y*
- —
STEA.L vs. HYEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
STEA.L PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc | 0.53% | 6.59% | 6.65% | 9.15% | -6.91% | 3.43% | 1.48% | 6.80% | -3.39% | 0.00% |
HYEA.L iShares Global High Yield Corporate Bond UCITS ETF | 3.05% | 1.53% | 9.22% | 9.21% | -6.45% | 8.26% | -1.76% | 14.15% | 0.26% | -0.75% |
Correlation
The correlation between STEA.L and HYEA.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2017 | 0.51 |
Over the past year, the correlation between STEA.L and HYEA.L has dropped to 0.29 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.
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Return for Risk
STEA.L vs. HYEA.L — Risk / Return Rank
STEA.L
HYEA.L
STEA.L vs. HYEA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc (STEA.L) and iShares Global High Yield Corporate Bond UCITS ETF (HYEA.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.
| STEA.L | HYEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.30 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 3.05 | -1.15 |
| Martin ratioReturn relative to average drawdown | 7.74 | 11.25 | -3.51 |
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Drawdowns
STEA.L vs. HYEA.L - Drawdown Comparison
The maximum STEA.L drawdown since its inception was -22.62%, roughly equal to the maximum HYEA.L drawdown of -22.83%. Use the drawdown chart below to compare losses from any high point for STEA.L and HYEA.L.
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Drawdown Indicators
| STEA.L | HYEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.62% | -22.83% | +0.21% |
Max Drawdown (1Y)Largest decline over 1 year | -2.10% | -1.89% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -4.85% | -6.63% | +1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -10.29% | -9.74% | -0.55% |
Current DrawdownCurrent decline from peak | -0.21% | -0.48% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -2.17% | -5.34% | +3.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.51% | +0.01% |
Volatility
STEA.L vs. HYEA.L - Volatility Comparison
The current volatility for PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc (STEA.L) is 0.58%, while iShares Global High Yield Corporate Bond UCITS ETF (HYEA.L) has a volatility of 1.40%. This indicates that STEA.L experiences smaller price fluctuations and is considered to be less risky than HYEA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STEA.L | HYEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 1.40% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 2.59% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 3.53% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.30% | 5.45% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.55% | 8.49% | -1.94% |
Dividends
STEA.L vs. HYEA.L - Dividend Comparison
Neither STEA.L nor HYEA.L has paid dividends to shareholders.
Frequently Asked Questions
STEA.L and HYEA.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
STEA.L tracks PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc, while HYEA.L tracks ICE BofA Gbl HY Constnd TR USD. They also come from different issuers: PIMCO and iShares.
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