BHYB vs. HYRM

Last updated Jun 26, 2026

BHYB (Xtrackers USD High Yield BB-B ex Financials ETF) and HYRM (Xtrackers Risk Managed USD High Yield Strategy ETF) are both High Yield Bonds funds from Xtrackers - BHYB tracks the ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross while HYRM tracks the Adaptive Wealth Strategies Risk Managed High Yield Index - USD - US Dollar - Benchmark TR Net. Both are passively managed. Their correlation of 0.84 suggests significant overlap in exposure. BHYB charges 0.20%/yr vs 0.30%/yr for HYRM.

Performance

BHYB vs. HYRM - 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 Risk Managed USD High Yield Strategy ETF (HYRM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BHYB

• 1D: 0.07%
• 1M: 0.45%
• YTD: 2.08%
• 6M: 2.05%
• 1Y: 6.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYRM

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BHYB vs. HYRM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BHYB Xtrackers USD High Yield BB-B ex Financials ETF	2.08%	8.90%	6.44%	8.23%
HYRM Xtrackers Risk Managed USD High Yield Strategy ETF	1.50%	5.98%	7.81%	8.65%

Correlation

The correlation between BHYB and HYRM is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.84

The correlation between BHYB and HYRM has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

Return for Risk

BHYB vs. HYRM — Risk / Return Rank

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

BHYB

BHYB Risk / Return Rank: 71
BHYB Sharpe Ratio Rank: 65
BHYB Sortino Ratio Rank: 76
BHYB Omega Ratio Rank: 73
BHYB Calmar Ratio Rank: 65
BHYB Martin Ratio Rank: 77

HYRM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. HYRM - 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 Risk Managed USD High Yield Strategy ETF (HYRM). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BHYB	HYRM	Difference
Sharpe ratio: Return per unit of total volatility	1.88	—	—
Sortino ratio: Return per unit of downside risk	2.96	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	2.84	—	—
Martin ratio: Return relative to average drawdown	12.97	—	—

Drawdowns

Drawdown Indicators

	BHYB	HYRM	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.27%	—	—
Current Drawdown Current decline from peak	-0.09%	—	—
Average Drawdown Average peak-to-trough decline	-0.39%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	—	—

Volatility

Volatility by Period

	BHYB	HYRM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.58%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.43%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.67%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.67%	—	—

BHYB vs. HYRM - Expense Ratio Comparison

BHYB has a 0.20% expense ratio, which is lower than HYRM's 0.30% expense ratio.

Dividends

BHYB vs. HYRM - Dividend Comparison

BHYB's dividend yield for the trailing twelve months is around 6.31%, more than HYRM's 5.92% yield.

Position	TTM	2025	2024	2023	2022
BHYB Xtrackers USD High Yield BB-B ex Financials ETF	6.31%	6.57%	7.04%	0.75%	0.00%
HYRM Xtrackers Risk Managed USD High Yield Strategy ETF	5.92%	6.28%	6.08%	5.78%	4.69%

Frequently Asked Questions

Can I hold both BHYB and HYRM in my portfolio?

BHYB and HYRM have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BHYB or HYRM?

On fees, BHYB is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BHYB or HYRM?

BHYB is cheaper with a 0.20% expense ratio, compared with 0.30% for HYRM.

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

BHYB has the higher dividend yield at 6.31%, compared with 5.92% for HYRM.

What is the main difference between BHYB and HYRM?

BHYB tracks ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross, while HYRM tracks Adaptive Wealth Strategies Risk Managed High Yield Index - USD - US Dollar - Benchmark TR Net. Their fees differ too: 0.20% for BHYB and 0.30% for HYRM.