STEA.L vs. HYUS.L

Last updated Jul 16, 2026

STEA.L (PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc) and HYUS.L (iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)) 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 HYUS.L tracks the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 3 years, STEA.L returned 6.23%/yr vs 7.60%/yr for HYUS.L. At a 0.24 correlation, their price movements are largely independent.

Performance

STEA.L vs. HYUS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc (STEA.L) and iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (HYUS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

STEA.L is traded in EUR, while HYUS.L is traded in USD. To make them comparable, the HYUS.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, STEA.L achieves a 0.53% return, which is significantly lower than HYUS.L's 3.87% 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*: —

HYUS.L

• 1D: -0.47%
• 1M: 1.03%
• 6M: 2.98%
• YTD: 3.87%
• 1Y: 7.08%
• 3Y*: 7.60%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

STEA.L vs. HYUS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
STEA.L PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc	0.53%	6.59%	6.65%	9.15%	-4.85%
HYUS.L iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)	3.87%	-4.33%	15.62%	9.49%	-4.81%

Correlation

The correlation between STEA.L and HYUS.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022	0.24

The correlation between STEA.L and HYUS.L shifts across timeframes, from 0.13 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

Return for Risk

STEA.L vs. HYUS.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

STEA.L

STEA.L Risk / Return Rank: 45
STEA.L Sharpe Ratio Rank: 40
STEA.L Sortino Ratio Rank: 42
STEA.L Omega Ratio Rank: 40
STEA.L Calmar Ratio Rank: 45
STEA.L Martin Ratio Rank: 56

HYUS.L

HYUS.L Risk / Return Rank: 58
HYUS.L Sharpe Ratio Rank: 47
HYUS.L Sortino Ratio Rank: 51
HYUS.L Omega Ratio Rank: 49
HYUS.L Calmar Ratio Rank: 69
HYUS.L Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

STEA.L vs. HYUS.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 Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (HYUS.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	HYUS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.07	+0.12
Sortino ratio: Return per unit of downside risk	1.81	1.57	+0.24
Omega ratio: Gain probability vs. loss probability	1.22	1.19	+0.03
Calmar ratio: Return relative to maximum drawdown	1.89	1.96	-0.07
Martin ratio: Return relative to average drawdown	7.74	6.77	+0.98

STEA.L vs. HYUS.L - Sharpe Ratio Comparison

The current STEA.L Sharpe Ratio is 1.18, which is comparable to the HYUS.L Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of STEA.L and HYUS.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

STEA.L vs. HYUS.L - Drawdown Comparison

The maximum STEA.L drawdown since its inception was -22.62%, which is greater than HYUS.L's maximum drawdown of -13.06%. Use the drawdown chart below to compare losses from any high point for STEA.L and HYUS.L.

Drawdown Indicators

	STEA.L	HYUS.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.62%	-13.06%	-9.56%
Max Drawdown (1Y) Largest decline over 1 year	-2.10%	-3.59%	+1.49%
Max Drawdown (3Y) Largest decline over 3 years	-4.85%	-13.06%	+8.21%
Max Drawdown (5Y) Largest decline over 5 years	-10.29%	—	—
Current Drawdown Current decline from peak	-0.21%	-2.61%	+2.40%
Average Drawdown Average peak-to-trough decline	-2.17%	-4.49%	+2.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	1.04%	-0.52%

Volatility

STEA.L vs. HYUS.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 Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (HYUS.L) has a volatility of 2.14%. This indicates that STEA.L experiences smaller price fluctuations and is considered to be less risky than HYUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STEA.L	HYUS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	2.14%	-1.56%
Volatility (6M) Calculated over the trailing 6-month period	2.70%	4.82%	-2.12%
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	6.62%	-3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.30%	8.90%	-3.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.55%	8.90%	-2.35%

Dividends

STEA.L vs. HYUS.L - Dividend Comparison

STEA.L has not paid dividends to shareholders, while HYUS.L's dividend yield for the trailing twelve months is around 9.19%.

Position	TTM	2025	2024	2023	2022
HYUS.L iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)	9.19%	7.38%	7.53%	6.31%	1.53%
STEA.L PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both STEA.L and HYUS.L in my portfolio?

STEA.L and HYUS.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between STEA.L and HYUS.L?

STEA.L tracks PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc, while HYUS.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: PIMCO and iShares.