STYC.L vs. GHYS.L
STYC.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc) and GHYS.L (iShares Global High Yield Corp Bond GBP Hedged UCITS ETF) are both High Yield Bonds funds - STYC.L tracks the Bloomberg US Corporate High Yield TR USD while GHYS.L tracks the Markit iBoxx Global Developed Markets Liquid High Yield Capped Index (GBP Hedged). Both are passively managed. Over the past 10 years, STYC.L returned 5.50%/yr vs 3.33%/yr for GHYS.L. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.55% expense ratio.
Performance
STYC.L vs. GHYS.L - Performance Comparison
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Different Trading Currencies
STYC.L is traded in USD, while GHYS.L is traded in GBP. To make them comparable, the GHYS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, STYC.L achieves a 1.41% return, which is significantly higher than GHYS.L's 1.07% return. Over the past 10 years, STYC.L has outperformed GHYS.L with an annualized return of 5.50%, while GHYS.L has yielded a comparatively lower 3.33% annualized return.
STYC.L
- 1D
- -0.02%
- 1M
- 0.42%
- YTD
- 1.41%
- 6M
- 1.99%
- 1Y
- 7.22%
- 3Y*
- 8.74%
- 5Y*
- 5.21%
- 10Y*
- 5.50%
GHYS.L
- 1D
- 0.14%
- 1M
- -0.44%
- YTD
- 1.07%
- 6M
- 2.37%
- 1Y
- 4.60%
- 3Y*
- 10.65%
- 5Y*
- 2.43%
- 10Y*
- 3.33%
STYC.L vs. GHYS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
STYC.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc | 1.41% | 9.13% | 8.08% | 11.66% | -4.84% | 4.37% | 3.84% | 10.02% | -0.61% | 5.45% |
GHYS.L iShares Global High Yield Corp Bond GBP Hedged UCITS ETF | 1.07% | 15.68% | 5.17% | 17.49% | -19.52% | 2.66% | 5.85% | 15.55% | -8.68% | 14.56% |
Correlation
The correlation between STYC.L and GHYS.L is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since May 19, 2015 | 0.52 |
The correlation between STYC.L and GHYS.L shifts across timeframes, from 0.45 (1 year) to 0.60 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
STYC.L vs. GHYS.L — Risk / Return Rank
STYC.L
GHYS.L
STYC.L vs. GHYS.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 Acc (STYC.L) and iShares Global High Yield Corp Bond GBP Hedged UCITS ETF (GHYS.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.
| STYC.L | GHYS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.58 | ||
| Sortino ratioReturn per unit of downside risk | +2.40 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.10 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 4.27 | 0.69 | +3.58 |
| Martin ratioReturn relative to average drawdown | 16.96 | 1.95 | +15.02 |
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
| STYC.L | GHYS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 0.54 | +1.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.91 | 0.20 | +0.71 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.25 | +0.60 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.24 | +0.52 |
Drawdowns
STYC.L vs. GHYS.L - Drawdown Comparison
The maximum STYC.L drawdown since its inception was -21.57%, smaller than the maximum GHYS.L drawdown of -39.19%. Use the drawdown chart below to compare losses from any high point for STYC.L and GHYS.L.
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Drawdown Indicators
| STYC.L | GHYS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.57% | -39.19% | +17.62% |
Max Drawdown (1Y)Largest decline over 1 year | -1.68% | -6.63% | +4.95% |
Max Drawdown (3Y)Largest decline over 3 years | -5.94% | -9.20% | +3.26% |
Max Drawdown (5Y)Largest decline over 5 years | -9.62% | -34.08% | +24.46% |
Max Drawdown (10Y)Largest decline over 10 years | -21.57% | -34.65% | +13.08% |
Current DrawdownCurrent decline from peak | -0.02% | -2.42% | +2.40% |
Average DrawdownAverage peak-to-trough decline | -1.67% | -11.07% | +9.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 2.36% | -1.94% |
Volatility
STYC.L vs. GHYS.L - Volatility Comparison
The current volatility for PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc (STYC.L) is 1.41%, while iShares Global High Yield Corp Bond GBP Hedged UCITS ETF (GHYS.L) has a volatility of 2.34%. This indicates that STYC.L experiences smaller price fluctuations and is considered to be less risky than GHYS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STYC.L | GHYS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 2.34% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 6.55% | -3.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.39% | 8.45% | -5.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.70% | 11.93% | -6.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.49% | 13.23% | -6.74% |
STYC.L vs. GHYS.L - Expense Ratio Comparison
Both STYC.L and GHYS.L have an expense ratio of 0.55%.
Dividends
STYC.L vs. GHYS.L - Dividend Comparison
STYC.L has not paid dividends to shareholders, while GHYS.L's dividend yield for the trailing twelve months is around 5.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYS.L iShares Global High Yield Corp Bond GBP Hedged UCITS ETF | 5.73% | 5.68% | 5.78% | 5.36% | 4.41% | 3.78% | 4.08% | 5.03% | 4.89% | 4.58% | 4.91% | 5.65% |
STYC.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF 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% |
Frequently Asked Questions
STYC.L and GHYS.L have a correlation of 0.45, 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.
STYC.L and GHYS.L have the same expense ratio: 0.55% per year.
STYC.L tracks Bloomberg US Corporate High Yield TR USD, while GHYS.L tracks Markit iBoxx Global Developed Markets Liquid High Yield Capped Index (GBP Hedged). They also come from different issuers: PIMCO and iShares.
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