AYE2.DE vs. XHY1.DE
AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) and XHY1.DE (Xtrackers iBoxx EUR High Yield Bond 1-3 Swap UCITS ETF) are both European High Yield Bonds funds - AYE2.DE tracks the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond while XHY1.DE tracks the iBoxx® EUR Liquid High Yield 1-3. Both are passively managed. Over the past 5 years, AYE2.DE returned 2.45%/yr vs 2.77%/yr for XHY1.DE. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.
Performance
AYE2.DE vs. XHY1.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 XHY1.DE's 0.57% return.
AYE2.DE
- 1D
- -0.10%
- 1M
- 0.88%
- YTD
- 0.71%
- 6M
- 1.00%
- 1Y
- 3.78%
- 3Y*
- 6.88%
- 5Y*
- 2.45%
- 10Y*
- —
XHY1.DE
- 1D
- 0.06%
- 1M
- 0.42%
- YTD
- 0.57%
- 6M
- 0.99%
- 1Y
- 3.24%
- 3Y*
- 5.12%
- 5Y*
- 2.77%
- 10Y*
- 2.58%
AYE2.DE vs. XHY1.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% |
XHY1.DE Xtrackers iBoxx EUR High Yield Bond 1-3 Swap UCITS ETF | 0.57% | 4.80% | 5.09% | 6.88% | -3.97% | 0.92% |
Correlation
The correlation between AYE2.DE and XHY1.DE is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.65 |
The correlation between AYE2.DE and XHY1.DE shifts across timeframes, from 0.55 (3 years) to 0.66 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
AYE2.DE vs. XHY1.DE — Risk / Return Rank
AYE2.DE
XHY1.DE
AYE2.DE vs. XHY1.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 iBoxx EUR High Yield Bond 1-3 Swap UCITS ETF (XHY1.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 | XHY1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.25 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 2.26 | -1.04 |
| Martin ratioReturn relative to average drawdown | 5.15 | 10.14 | -4.99 |
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 | XHY1.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 1.26 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.62 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.31 | +0.14 |
Drawdowns
AYE2.DE vs. XHY1.DE - Drawdown Comparison
The maximum AYE2.DE drawdown since its inception was -16.48%, smaller than the maximum XHY1.DE drawdown of -25.91%. Use the drawdown chart below to compare losses from any high point for AYE2.DE and XHY1.DE.
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Drawdown Indicators
| AYE2.DE | XHY1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -25.91% | +9.43% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -1.43% | -1.67% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -2.78% | -0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -8.53% | -7.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.91% | — |
Current DrawdownCurrent decline from peak | -0.33% | -0.12% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -1.55% | -2.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.32% | +0.41% |
Volatility
AYE2.DE vs. XHY1.DE - Volatility Comparison
iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) has a higher volatility of 0.98% compared to Xtrackers iBoxx EUR High Yield Bond 1-3 Swap UCITS ETF (XHY1.DE) at 0.63%. This indicates that AYE2.DE's price experiences larger fluctuations and is considered to be riskier than XHY1.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 | XHY1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.63% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 2.03% | +1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 2.56% | +1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 4.45% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 7.54% | -2.28% |
AYE2.DE vs. XHY1.DE - Expense Ratio Comparison
Both AYE2.DE and XHY1.DE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
AYE2.DE vs. XHY1.DE - Dividend Comparison
AYE2.DE has not paid dividends to shareholders, while XHY1.DE's dividend yield for the trailing twelve months is around 4.02%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XHY1.DE Xtrackers iBoxx EUR High Yield Bond 1-3 Swap UCITS ETF | 4.02% | 3.93% | 5.53% | 6.87% | 4.97% | 5.12% | 2.95% | 1.78% | 1.35% | 3.10% | 3.14% |
Frequently Asked Questions
AYE2.DE and XHY1.DE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
AYE2.DE and XHY1.DE have the same expense ratio: 0.25% per year.
AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while XHY1.DE tracks iBoxx® EUR Liquid High Yield 1-3. They also come from different issuers: iShares and Xtrackers.
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