STHE.L vs. EUNW.DE
STHE.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged) and EUNW.DE (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) 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 EUNW.DE is a European High Yield Bonds fund tracking the iBoxx® EUR Liquid High Yield. Both are passively managed. Over the past 10 years, STHE.L returned 3.35%/yr vs 3.10%/yr for EUNW.DE. A 0.63 correlation means they provide meaningful diversification when combined. STHE.L charges 0.60%/yr vs 0.50%/yr for EUNW.DE.
Performance
STHE.L vs. EUNW.DE - Performance Comparison
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Returns By Period
In the year-to-date period, STHE.L achieves a 0.74% return, which is significantly lower than EUNW.DE's 0.85% return. Over the past 10 years, STHE.L has outperformed EUNW.DE with an annualized return of 3.35%, while EUNW.DE has yielded a comparatively lower 3.10% annualized return.
STHE.L
- 1D
- 0.15%
- 1M
- 0.22%
- YTD
- 0.74%
- 6M
- 1.29%
- 1Y
- 5.01%
- 3Y*
- 6.71%
- 5Y*
- 3.23%
- 10Y*
- 3.35%
EUNW.DE
- 1D
- 0.05%
- 1M
- 0.82%
- YTD
- 0.85%
- 6M
- 1.41%
- 1Y
- 3.18%
- 3Y*
- 6.32%
- 5Y*
- 2.68%
- 10Y*
- 3.10%
STHE.L vs. EUNW.DE - 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 | 0.74% | 6.43% | 6.85% | 8.96% | -6.98% | 3.51% | 1.79% | 6.81% | -3.40% | 3.56% |
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 0.85% | 5.00% | 5.90% | 11.26% | -9.36% | 2.93% | 1.06% | 9.87% | -3.52% | 4.59% |
Correlation
The correlation between STHE.L and EUNW.DE is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2014 | 0.63 |
The correlation between STHE.L and EUNW.DE has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.
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Return for Risk
STHE.L vs. EUNW.DE — Risk / Return Rank
STHE.L
EUNW.DE
STHE.L vs. EUNW.DE - 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 iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE). 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.
| STHE.L | EUNW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.19 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 1.12 | +1.19 |
| Martin ratioReturn relative to average drawdown | 9.63 | 4.73 | +4.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| STHE.L | EUNW.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 0.96 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.50 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.47 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.47 | -0.02 |
Drawdowns
STHE.L vs. EUNW.DE - Drawdown Comparison
The maximum STHE.L drawdown since its inception was -24.40%, roughly equal to the maximum EUNW.DE drawdown of -25.47%. Use the drawdown chart below to compare losses from any high point for STHE.L and EUNW.DE.
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Drawdown Indicators
| STHE.L | EUNW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.40% | -25.47% | +1.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.16% | -2.83% | +0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | -3.80% | -1.22% |
Max Drawdown (5Y)Largest decline over 5 years | -10.27% | -14.79% | +4.52% |
Max Drawdown (10Y)Largest decline over 10 years | -24.40% | -25.47% | +1.07% |
Current DrawdownCurrent decline from peak | 0.00% | -0.10% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -2.02% | -2.31% | +0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.67% | -0.15% |
Volatility
STHE.L vs. EUNW.DE - Volatility Comparison
PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged (STHE.L) has a higher volatility of 0.86% compared to iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) at 0.79%. This indicates that STHE.L's price experiences larger fluctuations and is considered to be riskier than EUNW.DE 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 | EUNW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 0.79% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 2.86% | -0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.95% | 3.30% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.36% | 5.25% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.74% | 6.58% | +0.16% |
STHE.L vs. EUNW.DE - Expense Ratio Comparison
STHE.L has a 0.60% expense ratio, which is higher than EUNW.DE's 0.50% expense ratio.
Dividends
STHE.L vs. EUNW.DE - Dividend Comparison
STHE.L's dividend yield for the trailing twelve months is around 7.08%, more than EUNW.DE's 5.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 5.17% | 5.45% | 6.09% | 5.41% | 3.70% | 3.07% | 3.67% | 3.75% | 3.68% | 3.78% | 4.03% | 4.59% |
STHE.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Inc EUR Hedged | 7.08% | 7.17% | 7.64% | 6.27% | 4.99% | 4.57% | 4.88% | 5.14% | 5.37% | 5.18% | 5.41% | 5.28% |
Frequently Asked Questions
STHE.L and EUNW.DE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNW.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNW.DE is cheaper with a 0.50% expense ratio, compared with 0.60% for STHE.L.
STHE.L is categorized as High Yield Bonds, while EUNW.DE is European High Yield Bonds. STHE.L tracks ICE BofA 0-5 Year US High Yield Constrained Index, while EUNW.DE tracks iBoxx® EUR Liquid High Yield. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.60% for STHE.L and 0.50% for EUNW.DE.
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