UHYG.L vs. SSHY.L

Last updated Jun 5, 2026

UHYG.L (Lyxor ESG USD High Yield (DR) UCITS ETF - Dist) and SSHY.L (PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist) are both High Yield Bonds funds tracking the Bloomberg US Corporate High Yield TR USD, from Amundi and PIMCO respectively. Both are passively managed. Over the past 5 years, UHYG.L returned 3.52%/yr vs 6.31%/yr for SSHY.L. Their correlation of 0.93 suggests significant overlap in exposure. UHYG.L charges 0.25%/yr vs 0.55%/yr for SSHY.L.

Performance

UHYG.L vs. SSHY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor ESG USD High Yield (DR) UCITS ETF - Dist (UHYG.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with UHYG.L having a 1.45% return and SSHY.L slightly higher at 1.51%.

UHYG.L

• 1D: 0.14%
• 1M: 1.47%
• YTD: 1.45%
• 6M: -4.64%
• 1Y: 2.00%
• 3Y*: 3.77%
• 5Y*: 3.52%
• 10Y*: —

SSHY.L

• 1D: 0.17%
• 1M: 1.46%
• YTD: 1.51%
• 6M: 1.06%
• 1Y: 8.37%
• 3Y*: 5.91%
• 5Y*: 6.31%
• 10Y*: 6.28%

*Multi-year figures are annualized to reflect compound growth (CAGR)

UHYG.L vs. SSHY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UHYG.L Lyxor ESG USD High Yield (DR) UCITS ETF - Dist	1.45%	-4.28%	9.74%	5.64%	-1.68%	4.50%	2.15%	9.58%	3.46%	-2.77%
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist	1.51%	1.40%	10.17%	5.51%	6.56%	5.70%	0.33%	6.66%	5.07%	-3.96%

Correlation

The correlation between UHYG.L and SSHY.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	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Nov 2, 2016	0.93

The correlation between UHYG.L and SSHY.L has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

UHYG.L vs. SSHY.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UHYG.L

UHYG.L Risk / Return Rank: 11
UHYG.L Sharpe Ratio Rank: 12
UHYG.L Sortino Ratio Rank: 11
UHYG.L Omega Ratio Rank: 12
UHYG.L Calmar Ratio Rank: 11
UHYG.L Martin Ratio Rank: 11

SSHY.L

SSHY.L Risk / Return Rank: 43
SSHY.L Sharpe Ratio Rank: 42
SSHY.L Sortino Ratio Rank: 43
SSHY.L Omega Ratio Rank: 41
SSHY.L Calmar Ratio Rank: 46
SSHY.L Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UHYG.L vs. SSHY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor ESG USD High Yield (DR) UCITS ETF - Dist (UHYG.L) and PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.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.

	UHYG.L	SSHY.L	Difference
Sharpe ratio: Return per unit of total volatility	0.22	1.44	-1.22
Sortino ratio: Return per unit of downside risk	0.30	2.14	-1.84
Omega ratio: Gain probability vs. loss probability	1.05	1.26	-0.20
Calmar ratio: Return relative to maximum drawdown	0.19	2.25	-2.05
Martin ratio: Return relative to average drawdown	0.36	6.90	-6.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UHYG.L vs. SSHY.L - Sharpe Ratio Comparison

The current UHYG.L Sharpe Ratio is 0.22, which is lower than the SSHY.L Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of UHYG.L and SSHY.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UHYG.L	SSHY.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.22	1.44	-1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.83	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.60	-0.30

Drawdowns

UHYG.L vs. SSHY.L - Drawdown Comparison

The maximum UHYG.L drawdown since its inception was -15.35%, roughly equal to the maximum SSHY.L drawdown of -15.94%. Use the drawdown chart below to compare losses from any high point for UHYG.L and SSHY.L.

Drawdown Indicators

	UHYG.L	SSHY.L	Difference
Max Drawdown Largest peak-to-trough decline	-15.35%	-15.94%	+0.59%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-3.63%	-5.25%
Max Drawdown (3Y) Largest decline over 3 years	-9.53%	-9.91%	+0.38%
Max Drawdown (5Y) Largest decline over 5 years	-10.48%	-10.24%	-0.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-15.94%	—
Current Drawdown Current decline from peak	-6.21%	-0.89%	-5.32%
Average Drawdown Average peak-to-trough decline	-4.22%	-4.30%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	1.18%	+3.61%

Volatility

UHYG.L vs. SSHY.L - Volatility Comparison

The current volatility for Lyxor ESG USD High Yield (DR) UCITS ETF - Dist (UHYG.L) is 1.41%, while PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist (SSHY.L) has a volatility of 1.59%. This indicates that UHYG.L experiences smaller price fluctuations and is considered to be less risky than SSHY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UHYG.L	SSHY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	1.59%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	7.01%	4.03%	+2.98%
Volatility (1Y) Calculated over the trailing 1-year period	7.94%	5.67%	+2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.70%	7.58%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.50%	9.16%	+0.34%

UHYG.L vs. SSHY.L - Expense Ratio Comparison

UHYG.L has a 0.25% expense ratio, which is lower than SSHY.L's 0.55% expense ratio.

Dividends

UHYG.L vs. SSHY.L - Dividend Comparison

UHYG.L has not paid dividends to shareholders, while SSHY.L's dividend yield for the trailing twelve months is around 7.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SSHY.L PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF Dist	7.07%	7.33%	7.48%	6.52%	4.86%	4.47%	5.24%	5.27%	5.10%	5.48%	4.92%	5.11%
UHYG.L Lyxor ESG USD High Yield (DR) UCITS ETF - Dist	0.00%	0.00%	3.44%	6.00%	5.93%	6.98%	6.98%	6.59%	5.42%	4.11%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UHYG.L and SSHY.L in my portfolio?

With a correlation of 0.91, UHYG.L and SSHY.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.

Which ETF is better, UHYG.L or SSHY.L?

On fees, UHYG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UHYG.L or SSHY.L?

UHYG.L is cheaper with a 0.25% expense ratio, compared with 0.55% for SSHY.L.

What is the main difference between UHYG.L and SSHY.L?

Both ETFs track Bloomberg US Corporate High Yield TR USD. They also come from different issuers: Amundi and PIMCO. Their fees differ too: 0.25% for UHYG.L and 0.55% for SSHY.L.