STHY.L vs. HYGU.L
STHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income) and HYGU.L (iShares € High Yield Corp Bond UCITS ETF) are both High Yield Bonds funds - STHY.L tracks the ICE BofA 0-5 Year US High Yield Constrained Index while HYGU.L tracks the iShares € High Yield Corp Bond UCITS ETF. Both are passively managed. Over the past 5 years, STHY.L returned 5.19%/yr vs 4.58%/yr for HYGU.L. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.55% expense ratio.
Performance
STHY.L vs. HYGU.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with STHY.L having a 2.08% return and HYGU.L slightly higher at 2.18%.
STHY.L
- 1D
- 0.47%
- 1M
- 0.27%
- 6M
- 1.63%
- YTD
- 2.08%
- 1Y
- 6.52%
- 3Y*
- 8.30%
- 5Y*
- 5.19%
- 10Y*
- 5.30%
HYGU.L
- 1D
- -0.03%
- 1M
- 0.24%
- 6M
- 2.18%
- YTD
- 2.18%
- 1Y
- 5.22%
- 3Y*
- 8.18%
- 5Y*
- 4.58%
- 10Y*
- —
STHY.L vs. HYGU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
STHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income | 2.08% | 8.60% | 8.43% | 11.65% | -4.82% | 4.37% | 3.87% | 10.09% | -0.64% | 1.67% |
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 2.18% | 7.24% | 7.29% | 13.55% | -7.14% | 3.72% | 2.16% | 12.83% | -0.86% | 0.71% |
Correlation
The correlation between STHY.L and HYGU.L is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | 0.60 |
The correlation between STHY.L and HYGU.L shifts across timeframes, from 0.51 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
STHY.L vs. HYGU.L — Risk / Return Rank
STHY.L
HYGU.L
STHY.L vs. HYGU.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 Income (STHY.L) and iShares € High Yield Corp Bond UCITS ETF (HYGU.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.
| STHY.L | HYGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.33 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 2.00 | +1.71 |
| Martin ratioReturn relative to average drawdown | 14.49 | 8.61 | +5.88 |
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Drawdowns
STHY.L vs. HYGU.L - Drawdown Comparison
The maximum STHY.L drawdown since its inception was -21.74%, smaller than the maximum HYGU.L drawdown of -25.03%. Use the drawdown chart below to compare losses from any high point for STHY.L and HYGU.L.
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Drawdown Indicators
| STHY.L | HYGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.74% | -25.03% | +3.29% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -2.60% | +0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -4.67% | -3.62% | -1.05% |
Max Drawdown (5Y)Largest decline over 5 years | -9.55% | -13.61% | +4.06% |
Max Drawdown (10Y)Largest decline over 10 years | -21.74% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.16% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -2.06% | +0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.61% | -0.16% |
Volatility
STHY.L vs. HYGU.L - Volatility Comparison
PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income (STHY.L) has a higher volatility of 0.92% compared to iShares € High Yield Corp Bond UCITS ETF (HYGU.L) at 0.62%. This indicates that STHY.L's price experiences larger fluctuations and is considered to be riskier than HYGU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STHY.L | HYGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 0.62% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 2.85% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.51% | 3.33% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.43% | 5.37% | +0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.25% | 7.10% | -0.85% |
STHY.L vs. HYGU.L - Expense Ratio Comparison
Both STHY.L and HYGU.L have an expense ratio of 0.55%.
Dividends
STHY.L vs. HYGU.L - Dividend Comparison
STHY.L's dividend yield for the trailing twelve months is around 6.94%, while HYGU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGU.L iShares € High Yield Corp Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
STHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income | 6.94% | 7.17% | 7.60% | 6.36% | 4.97% | 4.58% | 4.89% | 5.10% | 5.32% | 5.21% | 5.39% | 5.29% |
Frequently Asked Questions
STHY.L and HYGU.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
STHY.L and HYGU.L have the same expense ratio: 0.55% per year.
STHY.L tracks ICE BofA 0-5 Year US High Yield Constrained Index, while HYGU.L tracks iShares € High Yield Corp Bond UCITS ETF. They also come from different issuers: PIMCO and iShares.
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