STEA.L vs. WING.L
STEA.L (PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR Hedged (Acc)) and WING.L (iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist)) are both High Yield Bonds funds - STEA.L tracks the ICE BofA 0-5 Year US High Yield Constrained Index while WING.L tracks the Bloomberg Global Corporate ex EM Fallen Angels 3% Issuer Capped Index. Both are passively managed. Over the past 5 years, STEA.L returned 3.12%/yr vs 3.06%/yr for WING.L. At a 0.39 correlation, their price movements are largely independent. STEA.L charges 0.60%/yr vs 0.50%/yr for WING.L.
Performance
STEA.L vs. WING.L - Performance Comparison
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Different Trading Currencies
STEA.L is traded in EUR, while WING.L is traded in USD. To make them comparable, the WING.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 0.57% return, which is significantly lower than WING.L's 3.66% return.
STEA.L
- 1D
- -0.05%
- 1M
- -0.13%
- 6M
- 0.44%
- YTD
- 0.57%
- 1Y
- 3.83%
- 3Y*
- 6.14%
- 5Y*
- 3.12%
- 10Y*
- —
WING.L
- 1D
- 0.41%
- 1M
- 0.23%
- 6M
- 2.37%
- YTD
- 3.66%
- 1Y
- 7.25%
- 3Y*
- 6.64%
- 5Y*
- 3.06%
- 10Y*
- 5.26%
STEA.L vs. WING.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) | 0.57% | 6.59% | 6.65% | 9.15% | -6.91% | 3.43% | 1.48% | 6.80% | -3.39% | 0.00% |
WING.L iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) | 3.66% | -0.74% | 9.68% | 9.54% | -9.05% | 9.90% | 8.24% | 18.15% | -0.65% | -1.31% |
Correlation
The correlation between STEA.L and WING.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 | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2017 | 0.39 |
Over the past year, the correlation between STEA.L and WING.L has dropped to 0.18 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.
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Return for Risk
STEA.L vs. WING.L — Risk / Return Rank
STEA.L
WING.L
STEA.L vs. WING.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 Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) (WING.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 | WING.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.23 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 2.84 | -1.03 |
| Martin ratioReturn relative to average drawdown | 7.42 | 9.29 | -1.87 |
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Drawdowns
STEA.L vs. WING.L - Drawdown Comparison
The maximum STEA.L drawdown since its inception was -22.62%, smaller than the maximum WING.L drawdown of -24.50%. Use the drawdown chart below to compare losses from any high point for STEA.L and WING.L.
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Drawdown Indicators
| STEA.L | WING.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.62% | -24.50% | +1.88% |
Max Drawdown (1Y)Largest decline over 1 year | -2.10% | -2.54% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -4.85% | -9.75% | +4.90% |
Max Drawdown (5Y)Largest decline over 5 years | -10.29% | -11.38% | +1.09% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.50% | — |
Current DrawdownCurrent decline from peak | -0.17% | -0.48% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -2.17% | -2.88% | +0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.77% | -0.25% |
Volatility
STEA.L vs. WING.L - Volatility Comparison
The current volatility for PIMCO Advantage US Short-Term High Yield Corporate Bond UCITS ETF EUR Hedged (Acc) (STEA.L) is 0.49%, while iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) (WING.L) has a volatility of 1.85%. This indicates that STEA.L experiences smaller price fluctuations and is considered to be less risky than WING.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 | WING.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 1.85% | -1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 4.53% | -1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 5.80% | -2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.29% | 7.66% | -2.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.55% | 9.62% | -3.07% |
STEA.L vs. WING.L - Expense Ratio Comparison
STEA.L has a 0.60% expense ratio, which is higher than WING.L's 0.50% expense ratio.
Dividends
STEA.L vs. WING.L - Dividend Comparison
STEA.L has not paid dividends to shareholders, while WING.L's dividend yield for the trailing twelve months is around 5.71%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WING.L iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) | 5.71% | 5.67% | 5.86% | 5.20% | 4.43% | 3.92% | 4.25% | 4.56% | 4.98% | 4.44% | 2.11% |
Frequently Asked Questions
STEA.L and WING.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, WING.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WING.L is cheaper with a 0.50% expense ratio, compared with 0.60% for STEA.L.
STEA.L tracks ICE BofA 0-5 Year US High Yield Constrained Index, while WING.L tracks Bloomberg Global Corporate ex EM Fallen Angels 3% Issuer Capped Index. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.60% for STEA.L and 0.50% for WING.L.
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