STYC.L vs. HYSD.L
STYC.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc) and HYSD.L (iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) are both High Yield Bonds funds - STYC.L tracks the Bloomberg US Corporate High Yield TR USD while HYSD.L tracks the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 3 years, STYC.L returned 8.27%/yr vs 9.12%/yr for HYSD.L. A 0.60 correlation means they provide meaningful diversification when combined. STYC.L charges 0.55%/yr vs 0.22%/yr for HYSD.L.
Performance
STYC.L vs. HYSD.L - Performance Comparison
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Different Trading Currencies
STYC.L is traded in USD, while HYSD.L is traded in GBP. To make them comparable, the HYSD.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with STYC.L having a 1.90% return and HYSD.L slightly higher at 1.91%.
STYC.L
- 1D
- 0.07%
- 1M
- 0.26%
- 6M
- 1.45%
- YTD
- 1.90%
- 1Y
- 6.18%
- 3Y*
- 8.27%
- 5Y*
- 5.18%
- 10Y*
- 5.29%
HYSD.L
- 1D
- -0.21%
- 1M
- 1.52%
- 6M
- 1.83%
- YTD
- 1.91%
- 1Y
- 5.75%
- 3Y*
- 9.12%
- 5Y*
- —
- 10Y*
- —
STYC.L vs. HYSD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
STYC.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc | 1.90% | 9.13% | 8.08% | 11.66% | -0.33% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.91% | 16.41% | 5.80% | 17.64% | -4.06% |
Correlation
The correlation between STYC.L and HYSD.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2022 | 0.60 |
The correlation between STYC.L and HYSD.L shifts across timeframes, from 0.46 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
STYC.L vs. HYSD.L — Risk / Return Rank
STYC.L
HYSD.L
STYC.L vs. HYSD.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 Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.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 | HYSD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.12 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 0.89 | +2.77 |
| Martin ratioReturn relative to average drawdown | 14.36 | 2.30 | +12.06 |
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Drawdowns
STYC.L vs. HYSD.L - Drawdown Comparison
The maximum STYC.L drawdown since its inception was -21.57%, which is greater than HYSD.L's maximum drawdown of -20.02%. Use the drawdown chart below to compare losses from any high point for STYC.L and HYSD.L.
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Drawdown Indicators
| STYC.L | HYSD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.57% | -20.02% | -1.55% |
Max Drawdown (1Y)Largest decline over 1 year | -1.68% | -6.47% | +4.79% |
Max Drawdown (3Y)Largest decline over 3 years | -5.94% | -9.26% | +3.32% |
Max Drawdown (5Y)Largest decline over 5 years | -9.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.57% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.59% | +1.59% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -3.24% | +1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 2.49% | -2.06% |
Volatility
STYC.L vs. HYSD.L - Volatility Comparison
The current volatility for PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc (STYC.L) is 0.53%, while iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.L) has a volatility of 2.10%. This indicates that STYC.L experiences smaller price fluctuations and is considered to be less risky than HYSD.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 | HYSD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 2.10% | -1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 6.56% | -3.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.39% | 8.56% | -5.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.71% | 12.07% | -6.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.43% | 12.07% | -5.64% |
STYC.L vs. HYSD.L - Expense Ratio Comparison
STYC.L has a 0.55% expense ratio, which is higher than HYSD.L's 0.22% expense ratio.
Dividends
STYC.L vs. HYSD.L - Dividend Comparison
STYC.L has not paid dividends to shareholders, while HYSD.L's dividend yield for the trailing twelve months is around 7.39%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 7.39% | 7.39% | 7.39% | 5.61% |
STYC.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
STYC.L and HYSD.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYSD.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYSD.L is cheaper with a 0.22% expense ratio, compared with 0.55% for STYC.L.
STYC.L tracks Bloomberg US Corporate High Yield TR USD, while HYSD.L tracks ICE BofA US High Yield Constrained Index. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.55% for STYC.L and 0.22% for HYSD.L.
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