STHE.L vs. EMLB.L
STHE.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged) and EMLB.L (PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc)) are both exchange-traded funds - STHE.L is a High Yield Bonds fund tracking the ICE BofA 0-5 Year US High Yield Constrained Index, while EMLB.L is a Emerging Markets Bonds fund tracking the PIMCO Emerging Markets Advantage Local Currency Bond Index. Both are passively managed. Over the past 10 years, STHE.L returned 3.13%/yr vs 2.72%/yr for EMLB.L. At a 0.28 correlation, their price movements are largely independent. STHE.L charges 0.60%/yr vs 0.39%/yr for EMLB.L.
Performance
STHE.L vs. EMLB.L - Performance Comparison
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Different Trading Currencies
STHE.L is traded in EUR, while EMLB.L is traded in USD. To make them comparable, the EMLB.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, STHE.L achieves a 0.86% return, which is significantly lower than EMLB.L's 5.12% return. Over the past 10 years, STHE.L has outperformed EMLB.L with an annualized return of 3.13%, while EMLB.L has yielded a comparatively lower 2.72% annualized return.
STHE.L
- 1D
- 0.22%
- 1M
- -0.03%
- 6M
- 0.47%
- YTD
- 0.86%
- 1Y
- 4.13%
- 3Y*
- 6.28%
- 5Y*
- 3.15%
- 10Y*
- 3.13%
EMLB.L
- 1D
- 0.00%
- 1M
- 0.82%
- 6M
- 3.59%
- YTD
- 5.12%
- 1Y
- 9.61%
- 3Y*
- 5.09%
- 5Y*
- 4.52%
- 10Y*
- 2.72%
STHE.L vs. EMLB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
STHE.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged | 0.86% | 6.44% | 6.85% | 8.96% | -6.98% | 3.52% | 1.78% | 6.81% | -3.40% | 3.55% |
EMLB.L PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) | 5.12% | 3.18% | 3.13% | 10.33% | 0.14% | 1.54% | -6.49% | 15.66% | -2.53% | -1.28% |
Correlation
The correlation between STHE.L and EMLB.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.28 |
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Return for Risk
STHE.L vs. EMLB.L — Risk / Return Rank
STHE.L
EMLB.L
STHE.L vs. EMLB.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 Inc EUR Hedged (STHE.L) and PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.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.
| STHE.L | EMLB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.28 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 3.04 | -1.15 |
| Martin ratioReturn relative to average drawdown | 7.86 | 9.68 | -1.81 |
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Drawdowns
STHE.L vs. EMLB.L - Drawdown Comparison
The maximum STHE.L drawdown since its inception was -24.40%, which is greater than EMLB.L's maximum drawdown of -18.89%. Use the drawdown chart below to compare losses from any high point for STHE.L and EMLB.L.
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Drawdown Indicators
| STHE.L | EMLB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.40% | -18.89% | -5.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.17% | -3.20% | +1.03% |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | -8.63% | +3.61% |
Max Drawdown (5Y)Largest decline over 5 years | -10.27% | -10.82% | +0.55% |
Max Drawdown (10Y)Largest decline over 10 years | -24.40% | -17.74% | -6.66% |
Current DrawdownCurrent decline from peak | -0.11% | -0.75% | +0.64% |
Average DrawdownAverage peak-to-trough decline | -2.00% | -6.23% | +4.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 1.01% | -0.49% |
Volatility
STHE.L vs. EMLB.L - Volatility Comparison
The current volatility for PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged (STHE.L) is 0.66%, while PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) has a volatility of 1.71%. This indicates that STHE.L experiences smaller price fluctuations and is considered to be less risky than EMLB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STHE.L | EMLB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 1.71% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.31% | 5.95% | -3.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.97% | 6.95% | -3.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 9.33% | -3.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 9.96% | -3.27% |
STHE.L vs. EMLB.L - Expense Ratio Comparison
STHE.L has a 0.60% expense ratio, which is higher than EMLB.L's 0.39% expense ratio.
Dividends
STHE.L vs. EMLB.L - Dividend Comparison
STHE.L's dividend yield for the trailing twelve months is around 6.99%, while EMLB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLB.L PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (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% |
STHE.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged | 6.99% | 7.17% | 7.65% | 6.27% | 4.99% | 4.57% | 4.88% | 5.14% | 5.37% | 5.18% | 5.41% | 5.28% |
Frequently Asked Questions
STHE.L and EMLB.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMLB.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMLB.L is cheaper with a 0.39% expense ratio, compared with 0.60% for STHE.L.
STHE.L is categorized as High Yield Bonds, while EMLB.L is Emerging Markets Bonds. STHE.L tracks ICE BofA 0-5 Year US High Yield Constrained Index, while EMLB.L tracks PIMCO Emerging Markets Advantage Local Currency Bond Index. Their fees differ too: 0.60% for STHE.L and 0.39% for EMLB.L.
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