STHY.L vs. IHYA.L
STHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income) and IHYA.L (iShares USD High Yield Corporate Bond UCITS ETF USD (Acc)) are both High Yield Bonds funds - STHY.L tracks the ICE BofA 0-5 Year US High Yield Constrained Index while IHYA.L tracks the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 5 years, STHY.L returned 5.18%/yr vs 3.99%/yr for IHYA.L. Their correlation of 0.82 suggests significant overlap in exposure. STHY.L charges 0.55%/yr vs 0.50%/yr for IHYA.L.
Performance
STHY.L vs. IHYA.L - Performance Comparison
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Returns By Period
In the year-to-date period, STHY.L achieves a 1.38% return, which is significantly higher than IHYA.L's 1.10% return.
STHY.L
- 1D
- -0.09%
- 1M
- -0.09%
- YTD
- 1.38%
- 6M
- 2.02%
- 1Y
- 7.05%
- 3Y*
- 8.69%
- 5Y*
- 5.18%
- 10Y*
- 5.49%
IHYA.L
- 1D
- 0.09%
- 1M
- 0.19%
- YTD
- 1.10%
- 6M
- 1.75%
- 1Y
- 6.94%
- 3Y*
- 8.29%
- 5Y*
- 3.99%
- 10Y*
- —
STHY.L vs. IHYA.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 | 1.38% | 8.60% | 8.44% | 11.65% | -4.82% | 4.37% | 3.88% | 10.09% | -0.65% | 3.01% |
IHYA.L iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) | 1.10% | 9.49% | 6.98% | 10.64% | -8.87% | 3.72% | 5.07% | 12.63% | -1.30% | 2.90% |
Correlation
The correlation between STHY.L and IHYA.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017 | 0.82 |
Over the past year, the correlation between STHY.L and IHYA.L has dropped to 0.61 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.
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Return for Risk
STHY.L vs. IHYA.L — Risk / Return Rank
STHY.L
IHYA.L
STHY.L vs. IHYA.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 USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.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.
| STHY.L | IHYA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.38 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.01 | 2.45 | +1.56 |
| Martin ratioReturn relative to average drawdown | 15.93 | 12.30 | +3.63 |
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
| STHY.L | IHYA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 1.93 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | 0.59 | +0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.89 | 0.56 | +0.33 |
Drawdowns
STHY.L vs. IHYA.L - Drawdown Comparison
The maximum STHY.L drawdown since its inception was -21.75%, roughly equal to the maximum IHYA.L drawdown of -22.58%. Use the drawdown chart below to compare losses from any high point for STHY.L and IHYA.L.
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Drawdown Indicators
| STHY.L | IHYA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.75% | -22.58% | +0.83% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -2.82% | +1.07% |
Max Drawdown (3Y)Largest decline over 3 years | -4.66% | -4.83% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -9.55% | -13.68% | +4.13% |
Max Drawdown (10Y)Largest decline over 10 years | -21.75% | — | — |
Current DrawdownCurrent decline from peak | -0.28% | -0.31% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -2.23% | +0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.56% | -0.12% |
Volatility
STHY.L vs. IHYA.L - Volatility Comparison
The current volatility for PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income (STHY.L) is 1.25%, while iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.L) has a volatility of 1.36%. This indicates that STHY.L experiences smaller price fluctuations and is considered to be less risky than IHYA.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 | IHYA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.36% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.84% | 2.87% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 3.58% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.41% | 6.81% | -1.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.30% | 7.89% | -1.59% |
STHY.L vs. IHYA.L - Expense Ratio Comparison
STHY.L has a 0.55% expense ratio, which is higher than IHYA.L's 0.50% expense ratio.
Dividends
STHY.L vs. IHYA.L - Dividend Comparison
STHY.L's dividend yield for the trailing twelve months is around 7.05%, while IHYA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHYA.L iShares USD High Yield Corporate 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% |
STHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Income | 7.05% | 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 IHYA.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IHYA.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IHYA.L is cheaper with a 0.50% expense ratio, compared with 0.55% for STHY.L.
STHY.L tracks ICE BofA 0-5 Year US High Yield Constrained Index, while IHYA.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.55% for STHY.L and 0.50% for IHYA.L.
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