BHYB vs. HYLB

Last updated Jun 3, 2026

BHYB (Xtrackers USD High Yield BB-B ex Financials ETF) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - BHYB tracks the ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross while HYLB tracks the Solactive USD High Yield Corporates Total Market Index. Both are passively managed. Over the past year, BHYB returned 7.76% vs 7.24% for HYLB. Their correlation of 0.94 suggests significant overlap in exposure. BHYB charges 0.20%/yr vs 0.15%/yr for HYLB.

Performance

BHYB vs. HYLB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers USD High Yield BB-B ex Financials ETF (BHYB) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BHYB achieves a 1.87% return, which is significantly higher than HYLB's 1.72% return.

BHYB

• 1D: 0.07%
• 1M: 0.39%
• YTD: 1.87%
• 6M: 2.32%
• 1Y: 7.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYLB

• 1D: 0.12%
• 1M: 0.26%
• YTD: 1.72%
• 6M: 2.29%
• 1Y: 7.24%
• 3Y*: 8.78%
• 5Y*: 4.11%
• 10Y*: —

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

BHYB vs. HYLB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BHYB Xtrackers USD High Yield BB-B ex Financials ETF	1.87%	8.90%	6.44%	8.23%
HYLB Xtrackers USD High Yield Corporate Bond ETF	1.72%	8.74%	8.14%	8.41%

Correlation

The correlation between BHYB and HYLB 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 (All Time) Calculated using the full available price history since Oct 30, 2023	0.94

The correlation between BHYB and HYLB has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

BHYB vs. HYLB — Risk / Return Rank

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

BHYB

BHYB Risk / Return Rank: 74
BHYB Sharpe Ratio Rank: 68
BHYB Sortino Ratio Rank: 79
BHYB Omega Ratio Rank: 77
BHYB Calmar Ratio Rank: 67
BHYB Martin Ratio Rank: 79

HYLB

HYLB Risk / Return Rank: 64
HYLB Sharpe Ratio Rank: 58
HYLB Sortino Ratio Rank: 63
HYLB Omega Ratio Rank: 64
HYLB Calmar Ratio Rank: 63
HYLB Martin Ratio Rank: 72

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.

BHYB vs. HYLB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers USD High Yield BB-B ex Financials ETF (BHYB) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). 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.

	BHYB	HYLB	Difference
Sharpe ratio Return per unit of total volatility	2.30	1.97	+0.33
Sortino ratio Return per unit of downside risk	3.61	2.98	+0.64
Omega ratio Gain probability vs. loss probability	1.47	1.39	+0.08
Calmar ratio Return relative to maximum drawdown	3.41	3.19	+0.22
Martin ratio Return relative to average drawdown	15.69	13.74	+1.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BHYB vs. HYLB - Sharpe Ratio Comparison

The current BHYB Sharpe Ratio is 2.30, which is comparable to the HYLB Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of BHYB and HYLB, 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

	BHYB	HYLB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	1.97	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.12	0.58	+1.54

Drawdowns

BHYB vs. HYLB - Drawdown Comparison

The maximum BHYB drawdown since its inception was -4.23%, smaller than the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for BHYB and HYLB.

Drawdown Indicators

	BHYB	HYLB	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	-22.91%	+18.68%
Max Drawdown (1Y) Largest decline over 1 year	-2.27%	-2.27%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.54%	—
Current Drawdown Current decline from peak	-0.03%	-0.02%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.40%	-2.43%	+2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	0.53%	-0.04%

Volatility

BHYB vs. HYLB - Volatility Comparison

The current volatility for Xtrackers USD High Yield BB-B ex Financials ETF (BHYB) is 1.05%, while Xtrackers USD High Yield Corporate Bond ETF (HYLB) has a volatility of 1.22%. This indicates that BHYB experiences smaller price fluctuations and is considered to be less risky than HYLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BHYB	HYLB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	1.22%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	2.93%	-0.42%
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	3.70%	-0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.71%	7.47%	-2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.71%	8.18%	-3.47%

BHYB vs. HYLB - Expense Ratio Comparison

BHYB has a 0.20% expense ratio, which is higher than HYLB's 0.15% 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

BHYB vs. HYLB - Dividend Comparison

BHYB's dividend yield for the trailing twelve months is around 6.32%, less than HYLB's 6.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BHYB Xtrackers USD High Yield BB-B ex Financials ETF	6.32%	6.57%	7.04%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HYLB Xtrackers USD High Yield Corporate Bond ETF	6.48%	6.29%	6.31%	5.84%	5.53%	4.45%	5.22%	5.71%	5.95%	5.85%	0.27%

Frequently Asked Questions

Can I hold both BHYB and HYLB in my portfolio?

With a correlation of 0.91, BHYB and HYLB 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 is riskier, BHYB or HYLB?

HYLB has higher volatility (1.22%) compared to BHYB (1.05%). In terms of maximum drawdown, BHYB dropped -4.23% vs HYLB's -22.91%.

Which ETF is better, BHYB or HYLB?

On 1-year performance, BHYB leads with 7.76% vs 7.24% for HYLB. On fees, HYLB is cheaper at 0.15% per year. On volatility, BHYB has been the lower-risk option at 1.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BHYB or HYLB?

Over the 1-year period, BHYB has performed better with a 7.76% return vs 7.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BHYB or HYLB?

HYLB is cheaper with a 0.15% expense ratio, compared with 0.20% for BHYB.

Which ETF pays a higher dividend yield, BHYB or HYLB?

HYLB has the higher dividend yield at 6.48%, compared with 6.32% for BHYB.

What is the main difference between BHYB and HYLB?

BHYB tracks ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross, while HYLB tracks Solactive USD High Yield Corporates Total Market Index. They also come from different issuers: Xtrackers and DWS. Their fees differ too: 0.20% for BHYB and 0.15% for HYLB.

Which has better risk-adjusted returns?

BHYB currently has the higher Sharpe Ratio (2.30 vs 1.97), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.