UC81.L vs. SHYU.L
UC81.L (UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis) and SHYU.L (iShares $ High Yield Corp Bond UCITS ETF) are both Corporate Bonds funds - UC81.L tracks the Bloomberg US Corp 1-3 Yr TR USD while SHYU.L tracks the Markit iBoxx USD Liquid High Yield Capped Index. Both are passively managed. Over the past 10 years, UC81.L returned 2.75%/yr vs 5.19%/yr for SHYU.L. A 0.76 correlation means they provide meaningful diversification when combined. UC81.L charges 0.18%/yr vs 0.50%/yr for SHYU.L.
Performance
UC81.L vs. SHYU.L - Performance Comparison
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Different Trading Currencies
UC81.L is traded in GBp, while SHYU.L is traded in GBP. To make them comparable, the SHYU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UC81.L achieves a 1.70% return, which is significantly lower than SHYU.L's 3.30% return. Over the past 10 years, UC81.L has underperformed SHYU.L with an annualized return of 2.75%, while SHYU.L has yielded a comparatively higher 5.19% annualized return.
UC81.L
- 1D
- -0.31%
- 1M
- 1.46%
- YTD
- 1.70%
- 6M
- 2.46%
- 1Y
- 6.49%
- 3Y*
- 3.91%
- 5Y*
- 3.17%
- 10Y*
- 2.75%
SHYU.L
- 1D
- -0.39%
- 1M
- 2.24%
- YTD
- 3.30%
- 6M
- 4.20%
- 1Y
- 9.42%
- 3Y*
- 7.13%
- 5Y*
- 4.96%
- 10Y*
- 5.19%
UC81.L vs. SHYU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UC81.L UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis | 1.70% | -0.20% | 6.43% | 0.38% | 4.76% | 0.32% | 1.51% | 4.23% | 6.12% | -6.53% |
SHYU.L iShares $ High Yield Corp Bond UCITS ETF | 3.30% | 1.93% | 8.55% | 4.73% | 2.04% | 4.96% | 1.60% | 9.12% | 4.39% | -3.90% |
Correlation
The correlation between UC81.L and SHYU.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2014 | 0.76 |
The correlation between UC81.L and SHYU.L shifts across timeframes, from 0.76 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UC81.L vs. SHYU.L — Risk / Return Rank
UC81.L
SHYU.L
UC81.L vs. SHYU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis (UC81.L) and iShares $ High Yield Corp Bond UCITS ETF (SHYU.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.
| UC81.L | SHYU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.29 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 2.63 | -1.30 |
| Martin ratioReturn relative to average drawdown | 3.41 | 8.24 | -4.83 |
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Drawdowns
UC81.L vs. SHYU.L - Drawdown Comparison
The maximum UC81.L drawdown since its inception was -36.65%, roughly equal to the maximum SHYU.L drawdown of -38.05%. Use the drawdown chart below to compare losses from any high point for UC81.L and SHYU.L.
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Drawdown Indicators
| UC81.L | SHYU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.65% | -38.05% | +1.40% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -3.56% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -8.01% | -9.06% | +1.05% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -10.47% | -3.84% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | -15.00% | +0.06% |
Current DrawdownCurrent decline from peak | -1.39% | -0.39% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -13.89% | -8.90% | -4.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 1.14% | +0.54% |
Volatility
UC81.L vs. SHYU.L - Volatility Comparison
The current volatility for UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis (UC81.L) is 1.49%, while iShares $ High Yield Corp Bond UCITS ETF (SHYU.L) has a volatility of 1.60%. This indicates that UC81.L experiences smaller price fluctuations and is considered to be less risky than SHYU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UC81.L | SHYU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 1.60% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 4.33% | 4.16% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.90% | 5.81% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.78% | 7.83% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.04% | 9.36% | -0.32% |
UC81.L vs. SHYU.L - Expense Ratio Comparison
UC81.L has a 0.18% expense ratio, which is lower than SHYU.L's 0.50% expense ratio.
Dividends
UC81.L vs. SHYU.L - Dividend Comparison
UC81.L's dividend yield for the trailing twelve months is around 4.61%, less than SHYU.L's 6.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHYU.L iShares $ High Yield Corp Bond UCITS ETF | 6.18% | 6.25% | 6.32% | 5.76% | 4.82% | 4.27% | 5.16% | 5.58% | 5.52% | 5.74% | 5.16% | 5.87% |
UC81.L UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis | 4.61% | 5.59% | 4.76% | 3.28% | 1.37% | 1.58% | 2.75% | 2.90% | 2.20% | 2.16% | 1.86% | 0.84% |
Frequently Asked Questions
With a correlation of 0.91, UC81.L and SHYU.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, UC81.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UC81.L is cheaper with a 0.18% expense ratio, compared with 0.50% for SHYU.L.
UC81.L tracks Bloomberg US Corp 1-3 Yr TR USD, while SHYU.L tracks Markit iBoxx USD Liquid High Yield Capped Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.18% for UC81.L and 0.50% for SHYU.L.
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