STYC.L vs. HYEM.L
STYC.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc) and HYEM.L (VanEck Emerging Markets High Yield Bond UCITS ETF) are both High Yield Bonds funds - STYC.L tracks the Bloomberg US Corporate High Yield TR USD while HYEM.L tracks the VanEck Emerging Markets High Yield Bond UCITS ETF. Both are passively managed. Over the past 5 years, STYC.L returned 5.14%/yr vs 2.69%/yr for HYEM.L. At a 0.36 correlation, their price movements are largely independent. STYC.L charges 0.55%/yr vs 0.40%/yr for HYEM.L.
Performance
STYC.L vs. HYEM.L - Performance Comparison
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Returns By Period
In the year-to-date period, STYC.L achieves a 1.69% return, which is significantly lower than HYEM.L's 3.15% return.
STYC.L
- 1D
- 0.08%
- 1M
- -0.11%
- 6M
- 1.33%
- YTD
- 1.69%
- 1Y
- 6.20%
- 3Y*
- 8.33%
- 5Y*
- 5.14%
- 10Y*
- 5.26%
HYEM.L
- 1D
- -0.36%
- 1M
- -0.68%
- 6M
- 2.60%
- YTD
- 3.15%
- 1Y
- 7.88%
- 3Y*
- 9.82%
- 5Y*
- 2.69%
- 10Y*
- —
STYC.L vs. HYEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
STYC.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc | 1.69% | 9.13% | 8.08% | 11.66% | -4.84% | 4.37% | 3.84% | 10.02% | -0.70% |
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF | 3.15% | 8.98% | 11.89% | 7.56% | -12.87% | -0.65% | 5.46% | 14.61% | -1.96% |
Correlation
The correlation between STYC.L and HYEM.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.36 |
The correlation between STYC.L and HYEM.L shifts across timeframes, from 0.20 (1 year) to 0.37 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
STYC.L vs. HYEM.L — Risk / Return Rank
STYC.L
HYEM.L
STYC.L vs. HYEM.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 VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM.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.
| STYC.L | HYEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.34 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.67 | 2.53 | +1.13 |
| Martin ratioReturn relative to average drawdown | 14.40 | 9.53 | +4.87 |
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Drawdowns
STYC.L vs. HYEM.L - Drawdown Comparison
The maximum STYC.L drawdown since its inception was -21.57%, smaller than the maximum HYEM.L drawdown of -27.28%. Use the drawdown chart below to compare losses from any high point for STYC.L and HYEM.L.
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Drawdown Indicators
| STYC.L | HYEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.57% | -27.28% | +5.71% |
Max Drawdown (1Y)Largest decline over 1 year | -1.68% | -2.94% | +1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -5.94% | -4.27% | -1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -9.62% | -27.28% | +17.66% |
Max Drawdown (10Y)Largest decline over 10 years | -21.57% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -0.78% | +0.67% |
Average DrawdownAverage peak-to-trough decline | -1.65% | -5.09% | +3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.78% | -0.35% |
Volatility
STYC.L vs. HYEM.L - Volatility Comparison
The current volatility for PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc (STYC.L) is 0.51%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM.L) has a volatility of 1.28%. This indicates that STYC.L experiences smaller price fluctuations and is considered to be less risky than HYEM.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 | HYEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 1.28% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 4.14% | -1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.39% | 4.96% | -1.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.71% | 6.98% | -1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.43% | 7.24% | -0.81% |
STYC.L vs. HYEM.L - Expense Ratio Comparison
STYC.L has a 0.55% expense ratio, which is higher than HYEM.L's 0.40% expense ratio.
Dividends
STYC.L vs. HYEM.L - Dividend Comparison
Neither STYC.L nor HYEM.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.09% |
STYC.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
STYC.L and HYEM.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYEM.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYEM.L is cheaper with a 0.40% expense ratio, compared with 0.55% for STYC.L.
STYC.L tracks Bloomberg US Corporate High Yield TR USD, while HYEM.L tracks VanEck Emerging Markets High Yield Bond UCITS ETF. They also come from different issuers: PIMCO and VanEck. Their fees differ too: 0.55% for STYC.L and 0.40% for HYEM.L.
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