STEA.L vs. SDHY.L
STEA.L (PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR (Hedged) Acc) and SDHY.L ( iShares $ Short Duration High Yield Corp 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 SDHY.L tracks the Markit iBoxx USD Liquid High Yield 0-5 Capped Index. Both are passively managed. Over the past 5 years, STEA.L returned 3.11%/yr vs 5.26%/yr for SDHY.L. At a 0.27 correlation, their price movements are largely independent.
Performance
STEA.L vs. SDHY.L - Performance Comparison
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Different Trading Currencies
STEA.L is traded in EUR, while SDHY.L is traded in USD. To make them comparable, the SDHY.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 SDHY.L's 4.45% 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*
- —
SDHY.L
- 1D
- -0.17%
- 1M
- 1.17%
- 6M
- 3.42%
- YTD
- 4.45%
- 1Y
- 7.60%
- 3Y*
- 6.61%
- 5Y*
- 5.26%
- 10Y*
- 4.35%
STEA.L vs. SDHY.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% |
SDHY.L iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist | 4.45% | -4.03% | 13.53% | 5.49% | 2.72% | 11.15% | -4.51% | 12.09% | 4.97% | -1.60% |
Correlation
The correlation between STEA.L and SDHY.L is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2017 | 0.27 |
Over the past year, the correlation between STEA.L and SDHY.L has dropped to 0.07 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.
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Return for Risk
STEA.L vs. SDHY.L — Risk / Return Rank
STEA.L
SDHY.L
STEA.L vs. SDHY.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 $ 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.
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 | SDHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.23 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 2.17 | -0.28 |
| Martin ratioReturn relative to average drawdown | 7.74 | 7.71 | +0.03 |
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Drawdowns
STEA.L vs. SDHY.L - Drawdown Comparison
The maximum STEA.L drawdown since its inception was -22.62%, which is greater than SDHY.L's maximum drawdown of -18.39%. Use the drawdown chart below to compare losses from any high point for STEA.L and SDHY.L.
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Drawdown Indicators
| STEA.L | SDHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.62% | -18.39% | -4.23% |
Max Drawdown (1Y)Largest decline over 1 year | -2.10% | -3.48% | +1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -4.85% | -11.38% | +6.53% |
Max Drawdown (5Y)Largest decline over 5 years | -10.29% | -11.38% | +1.09% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.39% | — |
Current DrawdownCurrent decline from peak | -0.21% | -1.63% | +1.42% |
Average DrawdownAverage peak-to-trough decline | -2.17% | -4.21% | +2.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.98% | -0.46% |
Volatility
STEA.L vs. SDHY.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 $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.L) has a volatility of 1.59%. This indicates that STEA.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
| STEA.L | SDHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 1.59% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 4.36% | -1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 6.07% | -2.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.30% | 7.83% | -2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.55% | 8.70% | -2.15% |
Dividends
STEA.L vs. SDHY.L - Dividend Comparison
STEA.L has not paid dividends to shareholders, while SDHY.L's dividend yield for the trailing twelve months is around 6.73%.
| 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 | 6.73% | 6.59% | 6.41% | 5.64% | 4.31% | 4.24% | 4.80% | 5.26% | 5.48% | 5.42% | 5.68% | 5.05% |
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% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
STEA.L and SDHY.L have a correlation of 0.07, 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 SDHY.L tracks Markit iBoxx USD Liquid High Yield 0-5 Capped Index. They also come from different issuers: PIMCO and iShares.
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