AYE2.DE vs. XHYG.DE
AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) and XHYG.DE (Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D) are both European High Yield Bonds funds - AYE2.DE tracks the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond while XHYG.DE tracks the Bloomberg Pan Euro HY Euro TR EUR. Both are passively managed. Over the past 5 years, AYE2.DE returned 2.45%/yr vs 2.78%/yr for XHYG.DE. Their correlation of 0.84 suggests significant overlap in exposure. AYE2.DE charges 0.25%/yr vs 0.20%/yr for XHYG.DE.
Performance
AYE2.DE vs. XHYG.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 lower than XHYG.DE's 1.00% 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*
- —
XHYG.DE
- 1D
- 0.08%
- 1M
- 1.03%
- YTD
- 1.00%
- 6M
- 1.40%
- 1Y
- 3.45%
- 3Y*
- 6.42%
- 5Y*
- 2.78%
- 10Y*
- 3.16%
AYE2.DE vs. XHYG.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% |
XHYG.DE Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D | 1.00% | 4.63% | 6.16% | 11.48% | -8.51% | 0.78% |
Correlation
The correlation between AYE2.DE and XHYG.DE is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.84 |
The correlation between AYE2.DE and XHYG.DE has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.
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Return for Risk
AYE2.DE vs. XHYG.DE — Risk / Return Rank
AYE2.DE
XHYG.DE
AYE2.DE vs. XHYG.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 EUR High Yield Corporate Bond UCITS ETF 1D (XHYG.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 | XHYG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.20 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 1.22 | -0.01 |
| Martin ratioReturn relative to average drawdown | 5.15 | 5.17 | -0.02 |
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 | XHYG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 0.97 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.51 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.44 | +0.01 |
Drawdowns
AYE2.DE vs. XHYG.DE - Drawdown Comparison
The maximum AYE2.DE drawdown since its inception was -16.48%, smaller than the maximum XHYG.DE drawdown of -24.00%. Use the drawdown chart below to compare losses from any high point for AYE2.DE and XHYG.DE.
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Drawdown Indicators
| AYE2.DE | XHYG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -24.00% | +7.52% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -2.81% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -3.64% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -14.54% | -1.94% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.00% | — |
Current DrawdownCurrent decline from peak | -0.33% | -0.11% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -2.34% | -1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.67% | +0.06% |
Volatility
AYE2.DE vs. XHYG.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 EUR High Yield Corporate Bond UCITS ETF 1D (XHYG.DE) has a volatility of 1.15%. This indicates that AYE2.DE experiences smaller price fluctuations and is considered to be less risky than XHYG.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 | XHYG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.15% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 3.10% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 3.53% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 5.45% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 7.17% | -1.91% |
AYE2.DE vs. XHYG.DE - Expense Ratio Comparison
AYE2.DE has a 0.25% expense ratio, which is higher than XHYG.DE's 0.20% 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. XHYG.DE - Dividend Comparison
AYE2.DE has not paid dividends to shareholders, while XHYG.DE's dividend yield for the trailing twelve months is around 4.93%.
| 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% |
XHYG.DE Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D | 4.93% | 4.75% | 5.48% | 3.95% | 3.70% | 5.75% | 2.27% | 3.54% | 5.11% | 3.71% | 1.25% |
Frequently Asked Questions
AYE2.DE and XHYG.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XHYG.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XHYG.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for AYE2.DE.
AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while XHYG.DE tracks Bloomberg Pan Euro HY Euro TR EUR. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.25% for AYE2.DE and 0.20% for XHYG.DE.
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