AYE2.DE vs. D5BG.DE
AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) and D5BG.DE (Xtrackers II EUR Corporate Bond UCITS ETF 1C) are both exchange-traded funds - AYE2.DE is a European High Yield Bonds fund tracking the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while D5BG.DE is a European Corporate Bonds fund tracking the Bloomberg Euro Corporate Bond. Both are passively managed. Over the past 5 years, AYE2.DE returned 2.45%/yr vs 0.10%/yr for D5BG.DE. A 0.51 correlation means they provide meaningful diversification when combined. AYE2.DE charges 0.25%/yr vs 0.12%/yr for D5BG.DE.
Performance
AYE2.DE vs. D5BG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AYE2.DE achieves a 0.71% return, which is significantly higher than D5BG.DE's 0.58% return.
AYE2.DE
- 1D
- -0.10%
- 1M
- 0.40%
- YTD
- 0.71%
- 6M
- 1.00%
- 1Y
- 4.01%
- 3Y*
- 6.88%
- 5Y*
- 2.45%
- 10Y*
- —
D5BG.DE
- 1D
- 0.15%
- 1M
- 0.36%
- YTD
- 0.58%
- 6M
- 0.60%
- 1Y
- 2.20%
- 3Y*
- 4.59%
- 5Y*
- 0.10%
- 10Y*
- 0.93%
AYE2.DE vs. D5BG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.71% | 5.88% | 6.36% | 10.77% | -10.72% | 0.80% |
D5BG.DE Xtrackers II EUR Corporate Bond UCITS ETF 1C | 0.58% | 3.14% | 4.22% | 7.44% | -12.98% | -0.89% |
Correlation
The correlation between AYE2.DE and D5BG.DE is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.51 |
The correlation between AYE2.DE and D5BG.DE has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.
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Return for Risk
AYE2.DE vs. D5BG.DE — Risk / Return Rank
AYE2.DE
D5BG.DE
AYE2.DE vs. D5BG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) and Xtrackers II EUR Corporate Bond UCITS ETF 1C (D5BG.DE). 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.
| AYE2.DE | D5BG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.12 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 0.74 | +0.48 |
| Martin ratioReturn relative to average drawdown | 5.15 | 2.53 | +2.62 |
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
| AYE2.DE | D5BG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 0.63 | +0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.02 | +0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.20 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.48 | -0.03 |
Drawdowns
AYE2.DE vs. D5BG.DE - Drawdown Comparison
The maximum AYE2.DE drawdown since its inception was -16.48%, roughly equal to the maximum D5BG.DE drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for AYE2.DE and D5BG.DE.
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Drawdown Indicators
| AYE2.DE | D5BG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -17.22% | +0.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -2.68% | -0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -2.68% | -1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -17.22% | +0.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.22% | — |
Current DrawdownCurrent decline from peak | -0.33% | -0.97% | +0.64% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -2.88% | -1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.78% | -0.05% |
Volatility
AYE2.DE vs. D5BG.DE - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) is 0.98%, while Xtrackers II EUR Corporate Bond UCITS ETF 1C (D5BG.DE) has a volatility of 1.16%. This indicates that AYE2.DE experiences smaller price fluctuations and is considered to be less risky than D5BG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AYE2.DE | D5BG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.16% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 2.72% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 3.13% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 4.49% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 4.64% | +0.62% |
AYE2.DE vs. D5BG.DE - Expense Ratio Comparison
AYE2.DE has a 0.25% expense ratio, which is higher than D5BG.DE's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
AYE2.DE vs. D5BG.DE - Dividend Comparison
Neither AYE2.DE nor D5BG.DE has paid dividends to shareholders.
Frequently Asked Questions
AYE2.DE and D5BG.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, D5BG.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
D5BG.DE is cheaper with a 0.12% expense ratio, compared with 0.25% for AYE2.DE.
AYE2.DE is categorized as European High Yield Bonds, while D5BG.DE is European Corporate Bonds. AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while D5BG.DE tracks Bloomberg Euro Corporate Bond. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.25% for AYE2.DE and 0.12% for D5BG.DE.
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